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.
Schoenherr, working with SafeReach, has launched the Dawn Raid App – a legal tech solution for clients to ensure a controlled process in the event of a dawn raid.
Incorrect land register entries may trigger public liability. But in a recent decision the Austrian Supreme Court (1 Ob 198/18a) held that incorrect land register entries can only constitute public liability claims for a certain group of people.
Schoenherr has announced that it will open a new office in Linz this autumn.
Noerr, together with the Austria's Arnold law firm, has advised SignaRetail on the sale of Kika’s Eastern European business to XXXLutz. XXXLutz was represented by CHSH on the purchase and by Wolf Theiss on the merger clearance process.
Kinstellar, Gibson, Dunn & Crutcher, Stibbe, and Binder Groesswang have advised CANAL+ Group, a subsidiary of the Vivendi group, on the acquisition of the M7 Group from Astorg, a European private equity firm. Paul Hastings and Loyens & Loeff advised Astorg and the other selling shareholders of the M7 Group.
Cerha Hempel Spiegelfeld Hlawati has served as Lead Counsel to Frequentis AG on an IPO in Frankfurt and Vienna.
Dorda has advised the Kapsch Group on the sale of CarrierCom and PublicTransportCom to S&T AG, a Linz-based technology group and provider of IT services in Central and Eastern Europe. Schmutzer & Ott-Sander Rechtsanwalte and the Munich office of Noerr advised S&T.
Francine Brogyanyi has joined the Management Committee at Dorda, joining existing Managing Partners Martin Brodey and Axel Anderl.
BPV Huegel has advised Constantia Flexibles on a squeeze-out compensation settlement for minority shareholders of the formerly-listed Constantia Packaging AG. The settlement amount is almost EUR 50 million, and the deal closed last week.
In a recent decision (Ra 2015/11/0113), the Austrian Supreme Administrative Court (VwGH) inter alia addressed the question whether the application of stem cell therapy violates Section 49 of the Austrian Act on the Medical Profession (Ärztegesetz, ArzteG), which requires physicians to treat patients "… in accordance with state of the art medical science and practice" and to at all times act in the best interest of the patients.
Schoenherr has advised South Korean investment fund KTB Investment & Securities and KTB Asset Management on the indirect acquisition of the T-Center, an office building in Vienna, from GENO Saturn Tower/T-Center Immobilienbeteiligungsholding GmbH & Co.OG and BEGO - ZWP GmbH. The sellers were advised by DSC Doralt Seist Csoklich Rechtsanwalte.
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.”
Former Salomonowitz Horak Co-Founder Michael Horak will join Binder Groesswang's Vienna office as Counsel on June 1, 2019.
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 and Linklaters Frankfurt have advised Erste Group Bank AG on the issue of EUR 500 million Additional Tier 1 Notes. Rautner Attorneys at Law reportedly advised Joint Lead Managers BAML, Barclays, Erste, Goldmans, and UBS.
Wolf Theiss has advised Erste Group Bank AG on the issue of EUR 500 million Eligible Liabilities Format Notes. Allen & Overy Frankfurt and Rautner Attorneys at Law reportedly advised the consortium of banks.