21
Tue, May
35 New Articles

Fellner Wratzfeld & Partner and Wolf Theiss have advised the Steinhoff Group on the sale of the Kika/Leiner Group to Signa Holding. Arnold Rechtsanwalte advised Signa Holding on the acquisition. Kika was represented by Urbanek Lind Schmied Reisch on the sale. Eisenberger & Herzog and the London office of Milbank, Tweed, Hadley & McCloy advised a group of creditors of the seller of Kika/Leiner's property assets in Austria and several CEE countries.

White & Case has advised joint lead managers BNP Paribas, J.P. Morgan, Erste Group, ING, MUFG, and Societe Generale Corporate & Investment Banking on a EUR 500 million hybrid bond issue by OMV Aktiengesellschaft with an initial fixed interest rate and interest adjustment. Weber & Co. advised OMV on the deal.

Schoenherr has advised the UniCredit Group on its establishment of two exclusive strategic partnerships with Allianz and Generali for the distribution of insurance products for individuals and small businesses in Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Serbia, Slovakia, and Slovenia. Allianz was advised by Allen & Overy, and Generali was reportedly advised by Linklaters.

This is the first in a series of articles by Schoenherr focusing on efficiency in arbitration. In our series, we will explore various tools which serve to improve the efficiency of any given arbitration and so achieve a favourable outcome without wasting resources.

It seems not only companies but also many Member States were so busy preparing for the GDPR that they lost sight of the Trade Secrets Directive that should have been transposed into national laws by June 9. That's regrettable, because it is important legislation between "privacy", unfair competition and IP, establishing a modern and for the first time EU-wide regime for the protection of trade secrets.

On January 4, 2018 CEE Legal Matters reported that Schoenherr had advised BUWOG AG and Freshfields Bruckhaus Deringer had advised Vonovia SE on Vonovia’s voluntary public takeover bid of BUWOG. The takeover offer placed the enterprise value of BUWOG at around EUR 5.2 billion. We reached out to several of the individuals involved in the deal for information: Christian Herbst, Partner, Schoenherr and Thomas Zottl, Partner, Freshfields Bruckhaus Deringer 

Tim Pfister, Managing Partner at Knoetzl in Vienna, is an American lawyer with over 35 years of experience. In addition to his management responsibilities at Knoetzl, Pfister acts as counsel, advising clients and colleagues on New York law matters and regarding conflicts in international transactions, cross-border financings, the Foreign Corrupt Practices Act, corporate crisis management, and corporate strategic planning. He moved to Austria in 2013 and was a founder of Knoetzl in 2016.  

There are only a few days left until the GDPR comes into force on May 25, 2018. Despite having had a two-year grace period before the new regime becomes effective, companies all over the European Community and their advisors are struggling to meet that deadline. We at Dorda are as well, despite having introduced a nine-person GDPR implementation project team – which is relatively huge for a country the size of Austria.

The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”

Unlike those of its neighbours to the East, Austria’s economy was allowed to operate free of communist interference, allowing the country to hit well above its weight, comparatively-speaking. Thus, although Austria is the 11th biggest country in CEE in population, with 8.7 million people, it has the third largest economy, behind only Russia and Poland. And these days, with the global financial crisis now firmly in the rearview mirror, the country is once again able to capitalize on its happy geographical positioning and historical relationship with the former members of the Austro-Hungarian empire.