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59 New Articles

Schoenherr has advised Coeo Inkasso GmbH on its June 17, 2019 acquisition of 100% of the shares of KNP Financial Services GmbH from founders Anton Moser and Wolfgang Hetlinger, who were reportedly advised by Hasch & Partner.

Read more: Schoenherr Advises Coeo Inkasso on Acquisition of KNP Financial Services

Dorda and Heuking Kuhn Luer Wojtek have advised VR Equitypartner GmbH on its acquisition of a majority stake in Signon Osterreich GmbH from TUV Sud. Grama Schwaighofer Vondrak advised TUV Sud on the sale. 

Read more: Dorda, Heuking Kuhn Luer Wojtek, and Grama Schwaighofer Vondrak Advise on VR Equitypartner...

White & Case and Wolf Theiss have advised joint lead managers Barclays Bank PLC, BNP Paribas, Erste Group Bank AG, Raiffeisen Bank International AG, and UniCredit Bank Austria AG on OMV Aktiengesellschaft's EUR 1 billion bond issue — the largest Austrian corporate bond issue to date in 2019. OMV was advised by Weber & Co.

Read more: White & Case, Wolf Theiss, and Weber & Co Advise on OMV Aktiengesellschaft’s EUR 1 Billion Bond...

The Constitutional Tribunal recently analysed regulations regarding dawn raids carried out by the Office for Competition and Consumer Protection (OCCP) and ruled that the respective law is not in line with the Constitution insofar as it excludes the possibility to challenge rulings allowing searches to be conducted.

Read more: Constitutional Tribunal Finds Undertakings Have Right to Appeal Against Consent to Conduct Searches

Members of the BPV Legal in Romania, Hungary, the Czech Republic, and Slovakia have provided local counsel in those jurisdictions to Dutch property managers MVGM on its takeover of the property management division of the Jones Lang LaSalle Group in Continental Europe. The Hague office of the Dutch law firm Barents Krans acted as lead counsel to MVGM, and Watson, Farley & Williams was lead counsel to JLL, working with local counsel from Schoenherr in the Czech Republic, Slovakia, Poland, and Romania.

Read more: BPV Legal, Schoenherr, and Watson Farley & Williams Advise on MVGM Acquisition of JLL Property...

Moscow lawyers Nadia Goreslavskaya and Marina Tokunova, Prague lawyer Milena Hoffmanova, and Vienna lawyer Lukas Feiler have been promoted to partner at Baker McKenzie as part of the firm's global round.

Read more: Goreslavskaya, Hoffmanova, Feiler, and Tokunova Promoted to Partner at Baker Mckenzie

Wolf Theiss has advised Oberbank AG as the issuer of EUR 250 million of 0.75% ordinary non-subordinated eligible debt securities 2019-2026. Weber & Co. advised the banking consortium of Commerzbank Aktiengesellschaft, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Erste Group Bank AG, and Raiffeisen Bank International AG that coordinated the bond placement.

Read more: Wolf Theiss and Weber & Co. Advise on EUR 250 Million Oberbank Bond

WMWP Act Legal Austria has advised KMG, a subsidiary of Stadtwerke Klagenfurt AG and Klagenfurt am Worthersee, on the restructuring of the public transport in Klagenfurt am Worthersee.

Read more: WMWP Act Legal Advises KMG on New Legal Structure for Public Transport in Klagenfurt

Background and facts: Austrian (case) law on capital maintenance (Verbot der Einlagenrückgewähr) is stringent and in many of its decisions the Austrian Supreme Court has interpreted the principles of capital maintenance as laid out in Austrian corporate law very strictly. Now, for the first time, the Supreme Court has decided on the question of cash pooling.

Read more: First Decision by Austrian Supreme Court on Cash Pooling: No Blank Cheque for Banks but Some Relief

Binder Groesswang and Dechert have advised U.S. private equity firm Welsh, Carson, Anderson & Stowe, on the sale of its stake in AIM Software Group to SimCorp in a deal valuing the company at EUR 60 million.

Read more: Binder Groesswang and Dechert Advise on Sale of Stake in AIM Holding SCA to SimCorp

I. Introduction: Drones (coll.; "unmanned aircraft [systems or vehicles]" in technical terms) are aircraft operated with no pilot on board. Once mainly developed and used for military purposes, drones are increasingly influencing our everyday lives. Drones vary greatly in size, performance and type. Civil drones are operated for risky flights to accident areas (e.g. firefighting, overflying flooded areas, finding missing persons3), can assist authorities4 (e.g. border control), deliver commercial services such as infrastructure (e.g. bridges, railways, nuclear plants) maintenance and monitoring, aerial mapping (e.g. for construction planning, insurance, urban planning), filming6 (see "Can flying photo drones be shot down?"), farming7, forestry, fisheries or may deliver packages. In fact, taxi drones may turn out to be a landmark in drone operations (see "Taxi drone EHang 216 takes off in Austria"). Considering that unmanned aerial toys will increasingly impact the Single European sky airspace, proper harmonised rules on safe and secure drone operation within the EU and its internal (aviation) market are urgently needed. EU-wide harmonised rules on civil drones must take into account their great variety of use these days.

Read more: Does Austrian aviation law comply with the new EU rules for drones?

Wolf Theiss has advised M.M.Warburg & CO as the sole manager and bookrunner on topping up a corporate bond of UBM Development AG 2018-2023 for EUR 45,000,000, with a coupon of 3.125%. Value date was June 4, 2019. UBM Development was advised by DLA Piper Weiss-Tessbach.

Read more: Wolf Theiss and DLA Piper Advise on Increase of Corporate Bond of UBM Development

CHSH, working with the Hemmelrath Partnerschaftsgesellschaft, has advised Immundiagnostik AG, a German laboratory diagnostics company headquartered in Bens-heim, on its acquisition of Austrian start-up Kiweno. Kiweno was advised by 42Law.

Read more: CHSH, Hemmelrath, and 42Law Advise on Immundiagnostik Acquisition of Kiweno

The EU Shareholder Rights Directive II (2017/828) (SRD II), amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement, must be transposed into national law by 10 June 2019.

Read more: Say on pay and related party transactions: implementation of EU Shareholder Rights Directive II

The CRISPR method: Genome editing designates new methods that allow targeted interventions to be carried out in the genetic material, the genome of a cell. The CRISPR/Cas method is a molecular biological method to specifically cut and modify DNA ("genome editing" or "gene scissors"). Genes can be inserted with the CRISPR/Cas9 method or used only remotely or switched off. This method was discovered in 2012, originally as a defence mechanism of bacteria against viruses. Soon, researchers around the world were using it to modify the DNA of a wide variety of organisms.

Read more: Austria: Genome Editing - CRISPR/Cas9