CEE Legal Matters first interviewed Ingo Steinwender in 2014, near the end of his first year as Group Head of Legal at CA Immobilien Anlagen AG, one of the largest real estate companies in Austria. Six years later, we check in.
Ivan Males, from Croatia, is Senior Associate with DLA Piper in Vienna. He is a Finance, Projects & Restructuring practitioner with a focus on financing transactions and the infrastructure sector. In addition, he has gained particular knowledge on corporate and M&A cross-border transactions, notably in CEE and SEE markets.
Austria is one of the most desirable destinations for investors from Commonwealth of Independent States (CIS) countries. It is frequently chosen as a country for investment or as a hub for doing business in Eastern and Southern Europe. In addition to Austria’s attractive economic and political environments, investors can benefit from Austria’s legal environment, in particular (a) the general accessibility of its market; (b) Austria’s flexible corporate law, which has a lot of similarities with CIS corporate law; (c) the country’s comfortable tax regime; and (d) benefits the country extends to startups. Below we briefly consider these benefits.
The move by the Big 4 firms – Deloitte, KPMG, EY, and PwC – to capitalize on their client lists and their multi-disciplinary capabilities by extending the ability of their legal arms to compete with traditional law firms is by now well-established. In Austria, their legal arms have begun competing aggressively for talent as well.
Love them or hate them, conferences are a fundamental part of the successful commercial lawyer’s calendar. But time is precious. Those calendars are full. It’s vital for conference organizers to get them right, and critical for lawyers to choose wisely in determining which events to attend and which to skip.
Tourism in Austria is booming. The capital, Vienna, has reported a 9.9% increase of overnight stays, to 7.94 million, in the period from January to June 2019, a new record. Demand for common rental platforms, such as Airbnb, has increased even more. For several years now, Austria’s federal states, municipal administrations, legislators, and competitors (in particular the hotel industry) have been kept busy with the business model of commercial short-term rentals.
Why would anyone knowingly become a law firm marketing specialist – a role that is demanding, complicated, challenging, and stressful? To explore this mystery, we went to the source. Accordingly, this time around we asked the law firm marketing specialists of CEE to complete the following question: “I went into Law Firm Marketing/BD as a career because ____________.“
South African Liesel Beukes is a dual-qualified lawyer and Content Marketing Manager at Schoenherr in Vienna, where she manages the firm’s highly-regarded annual RoadMap publication and assists lawyers across the firm’s 14 offices with marketing, business development, and press relations.
Cash pooling is a staple of corporate treasurers as an efficient way to allocate liquidity and reduce financing costs within a group of companies. Despite its commercial importance, neither Austrian statutory law nor the Austrian Supreme Court has provided any guidance as to whether cash pooling is permissible under Austrian law – in particular whether it is compatible with Austria’s strict capital maintenance laws.
It’s not easy to get to the top of a profession. Among lawyer in particular, there is fierce competition, great pressure, slim margins of error, and a number of people waiting to capitalize on mistakes. Making it to the top, and staying there, is a tightrope that must be walked over and over. And yet, the Hanslik family has not one but two such high achievers, in two different countries, as Austrian brothers Erwin and Guenther Hanslik have senior positions at offices of two of the most respected and successful international law firms in Europe.
The development of autonomous driving has been a recurring topic in the media in recent years. Technology in this area has progressed so much that autonomous vehicles are now ready for test drives on public roads. This development is subsequently exerting great pressure on local governments to create new laws allowing this type of testing and therefore driverless vehicles on public roads.
In September 2018 Schoenherr Partner Thomas Kulnigg advised crowd-investing company Conda AG on the digitalization of its shares, allowing the registered shares to be managed via blockchain technology. The project represented the first-ever digitalization of shares linked to digital tokens in an Austrian joint stock company. The tokens were digital units that were mined exclusively by Conda on a blockchain (dis-tributed ledger technology) protocol and then given to company shareholders. When a shareholder trans-fers a token to another person, the transfer is recorded in the blockchain and, on that basis, the transfer is also registered in Conda’s share ledger. The transfer of a token is thus the equivalent of a share transfer.
It has been over a year since the European Union’s General Data Protection Regulation became mandatory across Europe, marking a seismic shift in the way that companies collect, process, and handle personal data. Countries across the European Union and beyond have adapted their national laws to meet the requirements of the GDPR – with many introducing local derogations as permitted by the GDPR.