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A virtual showdown between German and Austrian insolvency administrators on where the COMI (center of main interests) of Austrian AIR BERLIN subsidiary NIKI was located came to a pragmatic end in January 2018. When it became clear a deal for the sale of NIKI`s assets out of the Austrian process had the support of creditors, the German official dropped his challenge to the competing proceedings in Vienna. The debate around the location of COMI is as relevant now as it has ever been before.

The European Commission has just published its comprehensive proposal for the so-called "New Deal for Consumers", which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice.

One might be surprised to read that data protection rules might also impact the competitive assessment of a concentration within merger control proceedings. Nonetheless, the clash of these two universes can be increasingly seen with respect to mergers pertaining to the digital sector.

As of April 2018, California will allow fully autonomous cars to be tested without safety drivers on public roads. One interesting question in this context is whom to blame for damages caused by artificial intelligence or machine learning systems? We took a look at this under Austrian law:

The Czech JSK law firm, the Slovak Majernik & Mihalikova law firm, and Austria's Graf Patsch Taucher have advised ARBES Technologies, a member of the Expandia Group, on its cross-border acquisition of the Slovak software company FINAMIS. The sellers were advised by the Misik law firm.

Reading newspapers in Austria these days one could get the impression that we are in the middle of a financial crisis. Each week another Austrian company seems to be in financial difficulties – or worse – filing for insolvency. But when taking a closer look at the individual insolvency proceedings, things are not as bleak as they seem.   

Dorda has announced the appointment of a new three-person Management Committee, consisting of Partners Felix Horlsberger, who was re-elected after serving as a member in the preceding term, Martin Brodey who previously served as member from 2006 to 2014, and Axel Anderl, who was elected for the first time.

Periodically Schoenherr will keep the crypto-community up-to-date with dedicated newsletters focusing on issues relating to initial coin offering (ICOs), initial token offerings (ITO) and Blockchain.

Former DLA Piper Finance Partner Denise Hamer has joined Trace Capital Advisors — a principal investment, asset management, corporate finance, and restructuring boutique focused on performing and non-performing assets in Central and Eastern Europe and Southeastern Europe.

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