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Fri, Dec
51 New Articles

Cash pooling is a staple of corporate treasurers as an efficient way to allocate liquidity and reduce financing costs within a group of companies. Despite its commercial importance, neither Austrian statutory law nor the Austrian Supreme Court has provided any guidance as to whether cash pooling is permissible under Austrian law – in particular whether it is compatible with Austria’s strict capital maintenance laws.

It’s not easy to get to the top of a profession. Among lawyer in particular, there is fierce competition, great pressure, slim margins of error, and a number of people waiting to capitalize on mistakes. Making it to the top, and staying there, is a tightrope that must be walked over and over. And yet, the Hanslik family has not one but two such high achievers, in two different countries, as Austrian brothers Erwin and Guenther Hanslik have senior positions at offices of two of the most respected and successful international law firms in Europe.

Wolf Theiss has advised Volksbank Wien AG on the issuance of EUR 500 million covered bank bonds 2019-2029. The bonds with a denomination of EUR 100,000, each, are listed on the Vienna Stock Exchange. Rautner advised the joint lead managers, Commerzbank Aktiengesellschaft, Deutsche Bank Aktiengesellschaft, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Erste Group Bank AG, and Landesbank Baden-Wurttemberg.

BPV Huegel and Switzerland's Meyerlustenberger Lachenal law firm have advised shareholder Raiffeisen Informatik on the initial public offering of SoftwareONE Holding AG and its listing on the SIX Swiss Exchange. Lenz & Staehelin and Linklaters advised SoftwareONE, while Niederer Kraft Frey and Freshfields advised joint global coordinators and joint book-runners Credit Suisse, J.P. Morgan, and UBS Investment Bank, and additional joint book-runners BNP Paribas, Citigroup, Deutsche Bank, UniCredit, and Zurcher Kantonalbank.

Former Wolf Theiss Poland Co-Managing Partner Ron Given has joined Deloitte Legal as its CE Senior Legal Counsel, responsible for all of the firm’s offices in 19 Central and Eastern European countries.

The development of autonomous driving has been a recurring topic in the media in recent years. Technology in this area has progressed so much that autonomous vehicles are now ready for test drives on public roads. This development is subsequently exerting great pressure on local governments to create new laws allowing this type of testing and therefore driverless vehicles on public roads.

In September 2018 Schoenherr Partner Thomas Kulnigg advised crowd-investing company Conda AG on the digitalization of its shares, allowing the registered shares to be managed via blockchain technology. The project represented the first-ever digitalization of shares linked to digital tokens in an Austrian joint stock company. The tokens were digital units that were mined exclusively by Conda on a blockchain (dis-tributed ledger technology) protocol and then given to company shareholders. When a shareholder trans-fers a token to another person, the transfer is recorded in the blockchain and, on that basis, the transfer is also registered in Conda’s share ledger. The transfer of a token is thus the equivalent of a share transfer.