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Among the biggest challenges in Bosnia and Herzegovina is attracting foreign investment, says Naida Custovic, Partner at Law Office Custovic in Cooperation with Wolf Theiss. “Our economy relies heavily on foreign investments,” she says. “Unfortunately our legal system and overall investment climate is not yet satisfactory.”

Eisenberger & Herzog, in cooperation with the London office of Milbank, Tweed, Hadley & McCloy, has advised a group of creditors of Steinhoff Holdings’ subsidiary Hemisphere Properties on its sale of Kika/Leiner property assets in Austria and several other CEE countries to the Signa Group. Steinhoff was counseled by Fellner Wratzfeld & Partner and Gleiss Lutz, and Hemisphere was advised by Clifford Chance and Wolf Theiss. The Signa Group was advised by Arnold, while Kika/Leiner was represented by Schoenherr, Urbanek Lind Schmied Reisch, and Preslmayr.

A new buzzword has reached the Real Estate world and its service providers, including the legal community: “PropTech.” PropTech – or “Property Technology” – is simply shorthand for various IT applications that are specifically designed to address the needs of the real estate industry.

Wolf Theiss has advised international tech investor TCV on its investment in Vienna-based travel start-up TourRadar, which was represented by Herbst Kinsky. Endeit Capital, Hoxton Ventures, and Cherry Ventures also formed part of the USD 50 million funding round, with Endeit Capital advised by Schoenherr.

“Since 2017 the real estate market in Austria has been quite steady, and we’ve seen a lot of cash inflow and a lot of demand ⎯ in particular for offices,” reports Birgit Kraml, Partner in Wolf Theiss Vienna’s Real Estate & Construction team. She adds that yields are rather low, with four percent considered good.

More than two years ago a new system for examining trademark applications was introduced in Poland. The purpose of the so-called “opposition system” was to adapt Polish regulations to EU and international regulations and the jurisprudence of the EU Court of Justice.

While no more applications for Micro Projects (those below 0.5MW) can be submitted under Hungary’s very generous mandatory off-take system since the end of April 2018, the Government  seems to have acknowledged that the projects already licensed under the subsidy regime may not be physically implemented within the strict deadlines set forth in the original legislation. Therefore, it is now possible for entities that applied for licenses after January 1, 2016 to ask for a three- years extension to complete their projects without any sanction. This is good news for license-owners and potential investors, as they have a reasonable amount of time to manage the relatively burdensome permitting proceedings and can also secure project finance. This is also good news for the Hungarian state budget because the first heavy payments to the projects under the mandatory off-take system will be delayed by a few more years.

Wolf Theiss has advised Raiffeisenlandesbank Oberosterreich Aktiengesellschaft on its June 12, 2018 placement of mortgage-covered bank bonds with a fixed interest rate in the amount of EUR 500 million on the international capital market. Weber Rechtsanwalte advised Joint Lead Managers DekaBank, DZ Bank, Erste Group, Raiffeisen Bank International, and UniCredit.

Wolf Theiss has advised Raiffeisen Bank International AG, Erste Bank, and Raiffeisenlandesbank Oberosterreich Aktiengesellschaft on their green bond issuance. The Joint Lead Managers, Credit Agricole Corporate and Investment Bank, DZ BANK AG Deutsche Zentral Genossenschaftsbank, Frankfurt am Main, HSBC Bank plc, ING Bank N.V., and Raiffeisen Bank International AG were advised by White & Case.