“Clients are increasingly looking for diversity in terms of dispute resolution methods,” according to Anne-Karin Grill, Partner at Schoenherr in Vienna. Keen to learn more about this development, CEE Legal Matters spoke with Grill, Schoenherr’s Bucharest-based Partner Silvia Opris, and Natasa Lalatovic Djordjevic, Attorney at Law at Moravcevic Vojnovic i Partneri in cooperation with Schoenherr in Serbia.
Wolf Theiss has advised OBB in a tender for up to 200 freight locomotives in areas dealing with procurement and contract law. Siemens succeeded as the best bidder in the tendering procedure.
Binder Groessswang has served as lead counsel to the Belgian Puratos Group in the acquisition of 100% of Diamant Nahrungsmittel Group from the German Werhahn Group. Kinstellar and Domanski Zakrzewski Palinka worked alongside Binder Groesswang in the Czech Republic and Poland, respectively. SCWP Schindhelm reportedly advised Diamant Nahrungsmittel Group on the transaction, which was signed and closed in Vienna on February 3, 2017.
Schoenherr has advised UNIQA Insurance Group AG on a contract with IBM Oesterreich GmbH for the upgrade of UNIQA's business processes and IT infrastructure. Schoenherr describes the agreement as "one of the largest IT contracts ever to be signed in the German speaking region of Austria, Germany, and Switzerland."
Wolf Theiss has advised Erste Group Bank AG on its January 18, 2017 placement of a fixed-interest mortgage-backed Pfandbrief with a volume of EUR 750 million on the international capital market. Allen & Overy advised the participating consortium of banks.
Wolf Theiss, working alongside global counsel Paul Hastings, has provided local Austrian counsel to international real estate investor Invesco Real Estate on its sale of a portfolio of hotels to the hotel operator Pandox AB. Wolf Theiss was responsible for executing the sale of Invesco's Austrian hotels, located at Vienna International Airport and in Salzburg.
Storing and filing of emails often happens without much attention. While the employer does have a legitimate interest in information and control of the email traffic at the workplace, this can present a high degree of risk if employees are left alone with the responsibility of storing and filing emails correctly and appropriately.
Acting on behalf of the Austrian National Union of Students, CHSH has represented a Czech student and a German student in their challenge of the practice of having family allowance notionally deducted by authorities when calculating financial aid for higher education studies granted to foreign students in Austria. The practice, according to CHSH, "has frequently resulted in a significant reduction in financial aid granted to students."
Schoenherr has advised a group of investors led by Erwin Krause and Franz Kollitsch on the formation of a 50/50 joint venture with SIGNA, and on the JV's acquisition of BAI Bautrager Austria Immobilien GmbH from Immobilien Holding (a UniCredit Bank Austria company). Arnold Rechtsanwalte advised SIGNA on the deal, while Immobilien was advised by Fellner Wratzfeld & Partners. The signing of the purchase agreement took place on January 25, 2017, and the transaction is subject to competition authority approval and the satisfaction of customary closing conditions. The financial terms of the transaction were not disclosed.
Wolf Theiss has advised Tricentis, a Vienna-based company specializing in automated software testing solutions, on new financial investment into the company from Insight Venture Partners. Binder Groesswang advised Insight on the investment.
Schoenherr and SCWP Schindhelm have advised a joint venture company formed by an investor group and Austrian property developer UBM Development AG on the acquisition of UniCredit Bank Austria subsidiary Ekazent Group. UniCredit Bank Austria was advised by Freshfields Bruckhaus Deringer on the deal, which closed on January 31, 2017.
CHSH Cerha Hempel Spiegelfeld Hlawati Rechtsanwalte has assisted Teufelberger Wirerope GmbH, an international metal wire ropes producer based in Austria, in the acquisition of Italian-based Redaelli Tecna S.p.A., a designer and manufacturer of steel wire ropes for off-shore and on-shore oil activities, mining, cableways, material transportation, and hoisting, and a developer and producer of engineering systems for the tenso structures, from JSC Severstal-Metiz, a company owned by the PAO Severstal steel and steel-related mining group. The transaction is expected to close in spring 2017.
CHSH has advised Immofinanz AG on its January 12, 2017 invitation to the holders of its EUR 515.1 million 4.25% senior unsecured convertible bonds due 2018 to convert their outstanding bonds into ordinary Immofinanz shares and ordinary BUWOG shares or to accept payment of a corresponding cash settlement in exchange for their BUWOG shares. This conversion offer was limited to 45% of the nominal amount of outstanding bonds and was not addressed to retail investors.
Schoenherr has promoted Austrian restructuring law expert Miriam Simsa to Contract Partner, effective as of February 1, 2017.