Schoenherr has advised the sellers on the sale of ARZ Allgemeines Rechenzentrum to Accenture. Baker McKenzie advised the buyer. 

On 4 June 2022 the Hungarian government issued a decree introducing special taxes affecting several sectors, among others banking, insurance, energy, telecommunications and airlines.

With the world slowly reaching what many scientists label “a point of no return” for climate change, countries worldwide are doing their best to combat environmental damage. To that end, the European Union has developed climate and energy targets for the upcoming decade, stating that it is “vital that we direct investments towards sustainable projects and activities.”

Energy prices have been a salient issue in CEE for the past year. Part 1 of this article covered just how high the energy prices had climbed in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey, the impact of those prices on people, businesses, and governments, as well as the reasons why some countries fared better than others. Then Russia’s war against Ukraine changed everything, making a new energy pricing normal seem more distant than ever. In Part 2 we look at what energy experts believe could alleviate the situation and whether the war has impacted those plans.

The Supreme Court confirmed parties' freedom to contractually modify any of the prerequisites for set-off under Bulgarian law, thus permitting various quasi-security arrangements in commercial and financial contracts that creditors may avail themselves of.

The European Investment Bank (EIB) will support Hungarian green financing with long-term forint-denominated loans. The cooperation agreement, which was entered into this May and allows the EIB to provide more fixed-rate long-term loans in Hungarian forints to the local economy, aims to boost sustainable economic and social growth, the post-pandemic recovery and climate action in Hungary. It is the EIB's response to growing market demand for local currency lending in EU Member States that are not part of the euro area.

Schoenherr has advised Austrian cancer treatment and research center MedAustron on the environmental impact assessment for the commissioning of a fourth treatment room.

Schoenherr has advised Austrian scale-up Storyblok on its USD 47 million Series B financing round led by Mubadala Capital and HV Capital, with 3VC and Firstminute Capital also participating. E+H advised HV Capital on its investment.

Schoenherr, working with Hannes Snellmann, has advised HS Timber Group on the acquisition of Luvian Saha. Castren & Snellman reportedly advised the seller.

Schoenherr’s busiest practice, according to Partner Vladimir Cizek, has been Corporate/M&A, with a lot of activity involving banking and financial services, technology targets, and healthcare and life sciences in the last 12-plus months. Cizek explains that technological advancement, the COVID-19 pandemic, and the increasing demand for businesses to grow have contributed to increased activities in these sectors.

Schoenherr has advised the HS Timber Group and Blue Minds on their sale of the Interfloat Corporation and Glasmanufaktur Brandenburg to Borosil Renewables.

The Hungarian Government issued a decree that amends certain provisions of the bank's liquidation proceedings.  The decree entered into force on 15 April, and it affects the solvent liquidation of Sberbank Hungary, subsidiary of Sberbank Europe AG, Hungarian member of the Russian Sberbank group. 

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. The question this time: Who was your favorite professor in university and why?

The pioneering Austrian legislator is breaking new ground in the area of crypto taxation. Income from cryptocurrencies will no longer be taxed progressively, at up to 55% for individuals, but at a flat rate of 27.5% withholding tax. With these rules, the Austrian legislator has brought clarity to the taxation of crypto assets for the first time and has responded to the increased practical relevance of cryptocurrencies and the need to tax them in line with securities. The previous taxation of crypto assets was mainly based on non-binding information from the homepage of the Austrian Ministry of Finance.

In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.

Schoenherr and Stuttgart-based Oppenlaender Rechtsanwaelte have advised NTT Data Business Solutions on its acquisition of Business Services and Technologies. Tzvetkova & Partners advised the shareholders of Business Services and Technologies.

Schoenherr has advised Bulstrad Life Vienna Insurance Group on its brokerage and outsourcing agreements with the Global Benefits Group and the related reinsurance agreement with AXA France Vie.

Schoenherr, working with Hogan Lovells in Germany, has advised S&T on a voluntary partial public takeover offer by Grosso Tec. EY Law advised Grosso Tec.