Fri, Sep
28 New Articles

CMS is reporting that, based on an amicable agreement with the majority shareholder of NV, which CMS advised, Uniqa and Raiffeisen-Holding NO-Wien have sold back their minority stakes in NV. Following the redemption of their shares, Uniqa and Raiffeisen-Holding NO-Wien are no longer shareholders of NV. 

Schoenherr is reporting that on Friday, September 2, 2016, the Austrian Finance Minister gave the green light to finance a public offer by Karntner Ausgleichszahlungs-Fonds (KAF) to HETA creditors pursuant to § 2a of the Austrian Financial Market Stability Act. Wolf Theiss advised a number of international creditors, while many banks were advised on Austrian law and internationally by Linklaters.

Fellner Wratzfeld & Partners is reporting that the Austrian Supreme Court (OGH) has issued a final ruling on a long-running dispute involving the City of Vienna’s attempt to evict general leaseholder Norbert Weber from the "Copa Cagrana" stretch of bars and restaurants in the city. FWP represented the City of Vienna throughout the dispute.

While it has been possible to register one or two character domain names ("short domains") under several Top Level Domains (TLDs) for quite some time (eg for the German <.de> TLD, following the 2009 <vw.de> judgment), the Austrian registry operator nic.at has hitherto not delegated short domains under the TLD <.at> (to date the minimum length of domain names under the <.at> top level domain had been three characters).

Acting on behalf of the Vienna Hospital Association, Fellner Wratzfeld & Partner has organized a public private partnership model to procure the design, construction, and facility management of radiation therapy centers to be established at various locations. The investment volume amounts to approximately EUR 85 million and the estimated useful life is 25 years.

The Buzz is a short summary of the major and relevant topics of interest in Central and Eastern Europe, provided by those best positioned to know: law firm partners and legal journalists/commentators on the ground in each CEE country.

Hengeler Mueller was lead counsel to the Chicago-based Filtration Group on its acquisition of the industrial filtration business of the MAHLE Group with Wolf Theiss advising on Polish, Romanian, Hungarian, Austrian, and Czech law aspects of the transaction. Slaughter & May advised in the UK, Paul Hastings in United States, Fangda in China, Bredin Prat in France, and Mori Hamada in Japan.

Schoenherr, working with Italy’s Chiomenti law firm, has advised HETA Asset Resolution AG ("HETA") and its subsidiary HETA Asset Resolution GmbH ("HAR GmbH") on the sale of Heta Asset Resolution Italia S.r.l ("HARIT"), including all outstanding loans granted by HETA to HARIT, to an alternative investment fund advised by Bain Capital Credit, LP.  Wolf Theiss and Linklaters advised Bain Capital on the transaction, which remains contingent on the approval of Banca d’Italia.

Binder Groesswang has advised Volksbank Oberes Waldviertel and Volksbank Niederosterreich in connection with the merger of the banking operations of the two banks. Volksbank Oberes Waldviertel (with a balance sheet total of the transferred banking operations of approximately EUR 166 million) transferred its business by way of contribution to Volksbank Niederosterreich. The transaction was completed on August 2, 2016.

Wolf Theiss has advised Eurazeo Patrimoine on its acquisition of 85 hotels (operating under Ibis Budget, Ibis Styles, Mercure, Novotel, and Pulman brands) from AccorHotels and other investors. The sellers were advised by Doralt Seist Csoklich (DSC) on the transaction, which is worth more than half a billion euros. The hotels will join the newly created Grape Hospitality Group, a joint venture between Accor and Eurazeo.

Schoenherr, working alongside lead counsel Gleiss Lutz, has advised the New York private equity fund Lindsay Goldberg on its acquisition of the Schur Flexibles Group from Capiton AG and its management. Kirkland & Ellis advised sellers on the transaction, which remains subject to approval by the antitrust authorities. The purchase price was not disclosed.