The statutory right to vacation originally arose from the employer’s duty of care for its employees. The Austrian Vacation Act of 1976 is a manifestation of this duty of care. It provides for five – with some seniority six – weeks of vacation for each working year. The law also expressly states that vacation should be used up, if possible, by the end of the year in which it was accrued. However, the employer and employee must agree on the specific leave days. In general, this means that neither the employee can take off for vacation unilaterally, nor can the employer impose it. Therefore, if there is no agreement on the actual use of vacation, this leads to an accumulation of vacation days.

E+H, working alongside Latham & Watkins, has advised Carlyle investment firm on its majority investment in GBTEC Software and its affiliates.

CMS has advised Nordic private equity fund Alder Investment III on the acquisition of a majority stake in Austrian food industry optical sorting company Insort. Herbst Kinsky reportedly advised the sellers.

Baker McKenzie has successfully represented Google before the Court of Justice of the European Union in challenging the Austrian Communication Platforms Act, which it describes as "far-reaching content moderation legislation" aiming to regulate "large online platforms established in other EU member states."

Schoenherr has advised EHL Immobilien on the sale of the entire stake in EHL Immobilien Management to PMV Holding, a member of the IMV Immobilien Management Group.

Wolf Theiss has advised the ALSO Group technology provider on its acquisition of Austrian Apple specialist the Target Group.

DLA Piper has advised Montana Aerospace on a EUR 450 million corporate financing from a syndicate including Commerzbank Aktiengesellschaft, HSBC Continental Europe, and UniCredit Bank Austria.

Wolf Theiss has advised the Vienna Insurance Group on the increase of its stake in Hungarian holding company VIG Magyarorszag from 55% to 90%, by acquiring the extra stake from Hungarian state holding company Corvinus. PK & Partners reportedly advised Corvinus.

Herbst Kinsky and WKB Lawyers have advised TX Logistik in the merger control proceedings before the Austrian and Polish competition authorities for its acquisition of Exploris Deutschland Holding, with Orrick Herrington & Sutcliffe reportedly advising on the proceedings in Germany.

Schindler Attorneys, working with Finland-based Avance, has advised Triton on its acquisition of Caverion. Reportedly, Moalem Weitemeyer, Dentons, and Vinge advised on the transaction as well.

Schoenherr has advised ProPellets Austria on a dawn raid by the Austrian Federal Competition Authority and its subsequent investigation into the Austrian pellets market. 

Herbst Kinsky has advised Leder & Schuh on the acquisition of certain assets of Salamander and Delka. Schindler Advised Salamander and Delka.

We can all think of names like Champagne or Feta cheese that are intrinsically linked to the geographical origin of a product and the know-how of its producers, often passed on over many generations.

Herbst Kinsky has advised Refurbed on its Series C financing round totaling EUR 54 million from investors including Evli Growth Partners, C4 Ventures, All Iron Ventures, and Speedinvest.

Schoenherr has announced it is promoting Iustin Armasu, Christoph Cudlik, Michael Marschall, and Teresa Waidmann to Partners, as of February 2024. 

A new legal company form and the reduction of the minimum share capital of limited liability companies is expected to make Austria more attractive in the international corporate landscape, particularly for start-ups and venture capital companies.

Radovanovic, Stojanovic & Partners, working with Gianni & Origoni and Schindler Attorneys, has advised the shareholders of SKS365 Group on the sale of SKS365, including its Serbian subsidiaries, to the Italian Lottomatica Group. Sidley advised the Lottomatica Group.

Cerha Hempel has advised Tech2People on an over EUR 800,000 capital increase.