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34 New Articles

The Austrian Supreme Court has abolished its former line of decisions on the recognition of collateral granted by way of security transfer (Sicherungsübereignung) under foreign jurisdiction. From now on, Austrian courts will have to recognise such collateral even if it does not comply with Austrian publicity requirements (Pubilzitätserfordernissen). This decision will enhance legal security and the overall position of creditors in an international context.

Fellner Wratzfeld & Partner has advised a syndicate of banks consisting of Erste Bank der oesterreichischen Sparkassen AG, Raiffeisenlandesbank Oberosterreich AG, Raiffeisen Bank International AG, and UniCredit Bank Austria on financing and a consequent takeover of Waagner Biro Bridge Systems AG by a group of investors.

Cerha Hempel Spiegelfeld Hlawati, Addleshaw Goddard, and Portugal's Morais Leitao, Galvao Teles, Soares da Silva & Associados have advised Value One Holding AG on its joint venture with Nuveen Real Estate to invest EUR 600 million on the development of purpose-built student accommodations in Portugal and Austria. Linklaters reportedly advised Nuveen Real Estate on the deal.

Schoenherr, working with lead counsel Hengeler Mueller and Belgium's Bredin Prat, China's JunHe, Mexico's Galicia Abogados, and Wuersch & Gering in New York, has advised Sweden's Ericsson on its acquisition of Germany's Kathrein SE's antenna and filters division. Noerr and Ziems & Partner acted as lead counsel to Kathrein, assisted by, among others, Eisenberger & Herzog, Freshfields Bruckhaus Deringer, Allen & Overy, and Gleiss Lutz.

“On the business side,” says Freshfields Bruckhaus Deringer Partner Friedrich Jergitsch, when asked what’s happening in Austria, "people are interested in artificial intelligence, data protection, and cyber-issues. These topics are always important to our clients.” Jergitsch says that data protection responsibilities and concerns “reach far beyond the GDPR.” He explains that “it’s an enormous subject in M&A, and M&A-related due diligence, because a lot of the M&A work involves clients purchasing data companies or cyber companies, and of course it’s a common post-M&A dispute topic, as well as a contractual topic, including in finance transactions.”

Dorda and Latham & Watkins have advised private equity fund Triton and ADIA — a wholly-owned subsidiary of the Abu Dhabi Investment Authority — on the acquisition of 100% of IFCO, a unit of Australian Securities Exchange-listed Brambles Limited. Brambles Limited was reportedly advised by Linklaters and Eisenberger & Herzog.