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On 26 June 2024, the Romanian Competition Council (the "RCC") announced that it had conducted a dawn raid as part of an investigation concerning the possible abuse of a superior bargaining position by a company active in the supply of liquid medicinal oxygen against a public hospital. The investigation has been launched ex officio as a result of information received from public sources. The case is noteworthy as it marks the first time the RCC has launched a review regarding an alleged abuse of superior bargaining position, a relatively new type of infringement under Romanian competition rules.

Derivatives, repurchases, and securities lending transactions are often used by sophisticated financial institutions and large corporate entities in Bulgaria to manage their portfolios of investments, hedge against financial risks, or get short-term credit. Such products are predominantly offered on an OTC basis by foreign banks, with mainly the largest local banks having the know-how and resources to do the same.

In a recent judgment, the German Federal Court of Justice (BGH) held that the claim "climate neutral" is ambiguous and often misleading unless the advertisement itself explains its specific meaning. This sets a trend for Austria, where courts have traditionally followed the standards set by the BGH in relation to environmental advertising when assessing such claims under unfair competition law. On an EU level, the restrictions regarding claims about greenhouse gas emissions are becoming even stricter, leaving advertisers with much to consider before making claims such as "climate neutral".

Schoenherr has advised Erste Group Bank on Breiteneder Immobilien Parking Group's invitation to existing holders to exchange their notes issued in 2018 for the recently issued Breiteneder Immobilien Parking 4.875% notes 2024-2030. The firm also advised Erste Group Bank as the lead manager and Oberbank as co-lead manager on the subsequent successful tap issue of the 2024-2030 notes. CMS advised the issuer.

Schoenherr, working with Rutgers & Posch, has advised the shareholders of Resalta on the disposal of a controlling stake in Resalta BV Netherlands, including its Slovenian, Croatian, Serbian, Romanian, and Czech Republic subsidiaries, to Aggreko. A&O Shearman reportedly advised Aggreko.

CMS has advised the EBRD, Partech, and Quadrille Capital on Rohlik Group's USD 170 million Series D1 round that also saw Sofina, Vitavest, Index Ventures, Waltman, EMEH, DTSG, All-Star Holding, and Rohlik.cz Investment participate. Pierstone advised Index Ventures. KLB Legal advised All-Star Holding. Reportedly, Perkins Cole advised the Rohlik Group, Horakova Legal advised EMEH, and Schoenherr advised DTSG. 

Schoenherr at a Glance

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu