Dorda Partner Martin Brodey starts his provision of The Buzz in Austria by describing the market as very busy and reporting that “two things are blossoming in particular – transactions and litigation – which we see from practice as very strong.” He notes that “Austria is mainly oriented towards the export of highly specialized industrial products and the provision of high-skill services,” and that “this keeps business busy - transactions are stable and flourishing.”
Schoenherr has advised South Korean investment fund KTB Investment & Securities and its subsidiary KTB Asset Management on the acquisition of 100% of Liegenschaftsbesitz GmbH from GENO Saturn Tower/T-Center Immobilien beteiligungs holding GmbH & Co.OG and BEGO-ZWP GmbH. The sellers were advised by DSC Doralt Seist Csoklich.
Following the adoption of the new EU framework for screening of foreign direct investments (see Schoenherr Newsletter 13.03.2019), the Austrian government recently published a draft bill to amend the current rules on foreign direct investments (FDI) into Austria. This draft is currently under review and shall enter into force in summer 2019.
Wolf Theiss has signed the Beijing Declaration to cooperate with China's Belt & Road Connection think tank to support Chinese Investments in Austria and its CEE/SEE neighbours. The Belt & Road declaration was signed on April 25, 2019 and describes the cooperation principles regarding infrastructure investment and dispute settlements. It coordinates Chinese investments along the Belt & Road from Poland to Ukraine and Albania.
EU Regulation 2017/460 (16 March 2017) has established a network code on harmonised transmission tariff structures (TAR NC). It defines, among other provisions, rules on reference price methodologies, publication and consultation requirements and the calculation of reserve prices for standardised-capacity products. Articles 26 and 28 require the national regulatory authority (NRA) or transmission system operators to carry out one or more consultations on the proposed reference price methodology and the resulting indicative reference prices as well as on the proposed discounts, multipliers and seasonal factors.
Scandals from Danske Bank to LuxLeaks and the Panama Papers would never have come to light were it not for insiders who dared to expose major wrongdoings within companies and organisations. Until recently, protection of whistleblowers in the EU has been fragmented across Member States and even across policy areas. The meagre protections granted to whistleblowers have been subject to constant criticism.
Act Legal Austria has assisted the BABEG Carinthian Agency for Investment Promotion and Public Shareholding in the legal structuring of its cooperation with mobile operator A1 for the opening of Austria’s first “5G Playground” at the Lakeside Science and Technology Park in the Carinthia region of Austria that is scheduled to open this September.
Dorda has advised Swiss milk processor EMMI AG on the acquisition of a 66% stake in Leeb Biomilch GmbH and its affiliate company Hale GmbH, the Austrian suppliers of organic goat milk and sheep milk products, from shareholders Hubert Leeb and Jorg Hackenbuchner. Hasch & Partner advised Leeb Biomilch GmbH.
Social Media is omnipresent these days and individuals as well as companies increasingly use these instruments as communication and marketing tools. Moreover, the development of Social Media platforms, like interactive online rating and comparison platforms, is also of interest for the start-up sector. However, this increasing importance of Social Media also raises questions about the liability for the published content and legal remedies to protect and enforce affected legal positions.
Wolf Theiss has advised Japan's Takeda Group on its April 3, 2019 acquisition of plasma donation center Plasmapunk Favoriten and Donaustadt.