Schoenherr (Schönherr Rechtsanwälte)

Schoenherr (Schönherr Rechtsanwälte)

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News and developments

Press Releases

Poland: schoenherr advises abc automotive poland on sale to etm group

Schoenherr advised ABC Automotive Poland, a Polish subsidiary of ABC Technologies Holdings, Inc., a global automotive equipment supplier, on the sale of its business to a subsidiary of ETM International GmbH, a group providing designing and manufacturing services to OEMs in the automotive industry.

22 March 2024

Press Releases

Austria: schoenherr advises usersnap on exit to saas.Group

Schoenherr advised the shareholders of Austrian software company Usersnap on their acquisition by saas.group, a company active in the business of acquiring promising software as a service (SaaS) companies.

21 March 2024

Press Releases

Schoenherr advises neveon on sale of greiner perfoam to trèves

Schoenherr advised NEVEON Holding GmbH ("NEVEON"), a member of the Greiner Group, on the sale of the automotive division, consisting of Greiner Perfoam GmbH and its subsidiaries ("Perfoam Group"), to Trèves S.A.S. ("Trèves").

21 March 2024

Press Releases

Schoenherr advises carrier on eur 12bln acquisition of viessmann climate solutions

Schoenherr advised the Carrier Global Corporation (Carrier), a provider of intelligent climate and energy solutions, on its acquisition of Viessmann Climate Solutions, alongside Linklaters. The cash and stock transaction is valued at EUR 12bln and is the largest transaction in the German M&A market to date this year.

04 May 2023

Press Releases

Schoenherr advises joint lead managers on issuance of eur 1bln hypothekenpfandbriefe (mortgage pfandbriefe)

Schoenherr advised Joint Lead Managers Erste Group Bank AG, Intesa Sanpaolo S.p.A., Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen Girozentrale, NATIXIS and TD Global Finance unlimited company on the successful issuance of EUR 1bln 3.125 % Hypothekenpfandbriefe (Mortgage Pfandbriefe) – due 14 October 2027 – by Erste Group Bank AG.

27 April 2023

Press Releases

Schoenherr with strong promotion round across offices and practice areas

Schoenherr is further strengthening its leadership ranks by appointing new partners and counsels across CEE, effective 1 February 2023. The promotion round builds up the partner ranks (four new partners, five new local partners) and strengthens the counsel level with two promotions. The new partners and counsels are experienced experts from various practice areas and Schoenherr offices.

07 February 2023

Press Releases

Schoenherr advises greiner packaging on acquisition of alwag

Schoenherr in cooperation with Moravčević Vojnović and partners advised Greiner Packaging International GmbH (Greiner) on all legal aspects of its 100 % acquisition of Serbian PET flake producer ALWAG DOO NOVA GAJDOBRA from ALING-CONEL d.o.o. Gajdobra (Serbia) and REIWAG Facility Services GmbH (Austria).

14 September 2022

Press Releases

Schoenherr advises hs timber group and blue minds on the sale of interfloat to borosil renewables, limited, india

Schoenherr advised Austrian HS Timber Group and Blue Minds on the sale of Interfloat Corporation and GMB Glasmanufaktur Brandenburg GmbH to Borosil Renewables Ltd, listed on the Indian Stock Exchange. The transaction agreement was executed on 25 April 2022. Closing is expected in the first half of 2022 and is still subject to the fulfilment of customary regulatory approvals.

04 May 2022

Press Releases

Schoenherr advises s&t ag on voluntary partial public takeover offer

Schoenherr advised S&T AG, an Austrian company listed on the Frankfurt Stock Exchange, in connection with the voluntary partial public takeover offer by grosso tec AG (Germany) on issues of Austrian law. Hogan Lovells advised S&T AG on German law issues.

29 April 2022

Press Releases

Schoenherr advises rgreen invest on unique eur 15m green bond to finance photovoltaic plant in bulgaria

Schoenherr advised RGreen Invest, a French management company representing a fund for green energy projects, on a EUR 15m bond to finance the construction of a photovoltaic plant near the town of Razlog in southwestern Bulgaria, as well as on a standard security package for it. The bond's issuer is a member of the Renalfa group, a leading Bulgarian clean energy and e-mobility provider with a focus on renewable energy generation assets.

07 February 2022

Press Releases

Schoenherr advises chaos on bulgarian law aspects in merger with enscape

Schoenherr advised Chaos, a global leader in photorealistic rendering technology, on the Bulgarian law aspects of its merger with Enscape, a leading developer of real-time rendering and design workflow technology for the Architecture, Engineering and Construction (AEC) industries. 

03 February 2022

Press Releases

Schoenherr advises sendinblue on acquisition of metrilo

Schoenherr advised the leading French-based all-in-one digital marketing platform Sendinblue SAS on the acquisition of Metrilo OOD ("Metrilo"), a Bulgarian e-commerce metrics company, from its founders and several investors such as Speedinvest II International GmbH, LAUNCHub Fund Coöperatief U.A. and Eleven Capital AD. The advising team in Schoenherr's Bulgarian office advised on all major legal aspects of the transaction, including due diligence and negotiation of transaction documents.

07 December 2021

Press Releases

Schoenherr advises p&i on the acquisition of 100 % of shares in vrz

Schoenherr advised P&I Personal & Informatik GmbH on the acquisition of 100 % of the shares in VRZ Informatik Gesellschaft mbH (Dornbirn) and its sister company ThinkCreateAct AG (Switzerland). The transaction is currently subject to the condition precedent of regulatory clearance. With the acquisition of the VRZ Group, P&I AG is expanding its presence in Austria and Switzerland.

07 December 2021

Press Releases

Schoenherr advises on top bulgarian dental distributor transaction involving abris capital partners

Schoenherr advised the owner and CEO of Dentatechnica EOOD, the largest distributor of dental equipment and consumables in Bulgaria, on a transaction with Dentotal (Romania), a subsidiary of Abris Capital Partners. Subject to competition authorities' approval, Dentatechnica will become part of Dentotal Group with the aim of creating a regional leader through organic growth and further consolidation of local markets in Romania and Bulgaria.

07 December 2021

Press Releases

Austria/cee: schoenherr further strengthens leadership with promotions

Schoenherr is strengthening the ranks of equity partner, contract partner and counsel with new promotions effective as of 1 February 2020. With Pawel Halwa and Thomas Kulnigg, Schoenherr promotes two longstanding Schoenherr experts to equity partners. Constantin Benes, Leon Kopecký, Günther Leissler, Laurenz Schwitzer, Manuela Zimmermann, Georgiana Bădescu, Mădălina Neagu and Miloš Laković are promoted to contract partners, and at counsel level, Dominik Hofmarcher and Clemens Rainer have moved up in the ranks.

31 March 2020

Corporate & Commercial

Potential hurdle for acquisitions in hungary by non-eu and non-eea investors

The Hungarian Ministry of the Interior recently submitted a legislative proposal to the Hungarian Government to amend the Act on Hungarian National Security Services (the "Proposal"). The Proposal suggests an amendment pursuant to which investors from non-EU and non-EEA countries who wish to invest in Hungary would have to obtain prior permission from the minister responsible for national security (the " Minister. If adopted, investors from outside the EU and EEA would need to apply and obtain such permission if they intend to acquire more than a 25 % interest in an existing or yet to be established company with its registered seat in Hungary, provided that this company pursues activities that are deemed sensitive for national security. read more...

28 October 2019

Finance

Eu: high-level expert group on sustainable finance delivers early recommendations

On 13 July 2017, the High-Level Expert Group ("HLEG") on Sustainable Finance published its interim report ("Interim Report") setting out concrete steps to create a financial system that supports sustainable investments. This Legal Insight is part of our dedicated newsletter series on the European Capital Markets Union ("CMU"). Background The growing awareness of environmental challenges and sustainability risks as well as the adoption of the UN 2030 Agenda and the conclusion of the Paris Climate Agreement by the EU in 2015 call for an EU strategy on sustainable finance. Establishing an EU strategy on sustainable finance is a priority action of the CMU. In December 2016, the HLEG was established to advise on the development of such an EU strategy. The recently published HLEG Interim Report was recently presented in a public hearing on sustainable finance on 18 July 2017. At the same time, the HLEG presented an online questionnaire on the Interim Report aimed at obtaining targeted feedback until 20 September 2017, which would be reflected in the final report of the HLEG scheduled for publication by the end of 2017.   read more... 

28 October 2019

EU & Competition

Serbian competition authority steps up antritrust enforcement

The Serbian Commission for Protection of Competition (the "Commission") recently intensified its antitrust activities before the new Administrative Act came into effect. In one week alone the Commission initiated four antitrust cases and conducted two dawn raids. 1. What/who will be on the Commission's radar?

28 October 2019

TMT ( Technology, Media & Telecoms)

First annual privacy shield review to take place in september 2017

One of the core principles of the EU-US Privacy Shield ("Privacy Shield") is its Joint Review mechanism, which obliges the European Commission, the US Department of Commerce and the Federal Trade Commission to jointly review the functioning of the Privacy Shield on an annual basis, together with its national security and law enforcement aspects. The very first Joint Review is scheduled for September 2017. This first review is considered especially important, as it will be the first opportunity for US and EU regulators to closely analyse the operation of the Privacy Shield, address possible concerns about its functioning, and seek to ensure that the Privacy Shield continues to be a valid legal basis for transfers of personal data from the EU to the US. read more... 

28 October 2019

Litigation & Dispute Resolution

Hungary: are interim measures hard to enforce?

The Hungarian Parliament recently passed new legislation on arbitration (Act LX of 2017 on Arbitration, the “2017 Act”) that will reform Hungarian arbitration law as of 1 January 2018. The 2017 Act, considering both the shortcomings of the current Hungarian legislation (Act LXXI of 1994 on Arbitration, the “1994 Act”) and the amendment of the UNCITRAL Model Law on International Commercial Arbitration adopted in 2006 (the “Model Law”), repositions arbitration by reforming the choice of arbitrators, the institutional system of Hungarian arbitration panels, and the power of the panels ordering interim measures and preliminary orders. read more...

28 October 2019

Finance

Eu: council introduces action plan for npls

On 10 July 2017, the Commission announced the public consultation on the development of secondary markets for non-performing loans (NPLs) and distressed assets. Following the commencement of this public consultation, the Council introduced its Action Plan for NPLs.

28 October 2019

EU & Competition

Bulgaria: remedies imposed on fuel companies following cartel investigations

For the second time in less than five years, the Bulgarian Commission for the Protection of Competition ("Commission") has opened investigation proceedings regarding prohibited agreements and concerted practices against the major fuel companies in Bulgaria and closed them without issuing penalties.

28 October 2019

Corporate & Commercial

Austria: slightly lower fees, a little more liberalisation - the 2017 amendments to the austrian tra

Following a year of intense political discussion, the Austrian Parliament adopted numerous amendments to the Austrian Trade Act 1994 (Gewerbeordnung 1994, "GewO") at the end of June. While the reform falls significantly short of the outgoing government's original announcements last July with the aim to liberalise market access and to cut red tape for businesses, it nevertheless introduces several material changes to business activity in Austria. read more...

28 October 2019

Finance

Recast of the eu regulation on insolvency law applicable as of today

The EU Regulation on Insolvency Law 1346/2000 (EIR) was considered a milestone in the cross-border coordination of national insolvency proceedings. The recast of the EU Regulation on Insolvency Law 2015/848, applicable to insolvency proceedings opened after 26 June 2017, considers substantial developments in national insolvency laws. read more...

28 October 2019

Employment

Austria: avoid expensive mistakes as startup employer

As violations may lead to enormous liabilities, start-up employers are advised from the outset to comply with the applicable laws pertaining to their personnel. In addition to being an underestimated factor when it comes to financial liabilities, employment-law-related mistakes may also result in difficulties in the course of a company's sales process. For a better understanding of what can go wrong in employment relationships, three of the most common mistakes that employers make are listed below. read more...

28 October 2019

Finance

Lessons learned over three years: amendment of the hungarian trust regulation

The Hungarian Parliament passed an act in June 2017 with the aim of improving Hungary's business competitiveness. Among other things, the amendment has changed the regulation of trusts and their management, hopefully for the better, since the past three years have shown that a lack of such experience still exists. The legal concept of trust was introduced into Hungarian law in 2014, when the new Civil Code entered into force. Contrary to expectations, however, potential market players were hesitant to launch their businesses, mainly due to crippling bureaucracy and the vague regulation of trusts. read more...

28 October 2019

Projects, Energy & Natural Resources

Renewable energy: amendment of the austrian green electricity act doubles funding

After four months of negotiations, the Austrian National Council has finally reached an agreement on the amendment of the Green Electricity Act ("Ökostromnovelle"). The required two-thirds majority was reached by a last minute agreement between the coalition parties and the Green Party. The aim of the new legislation is to increase the percentage of green electricity and to achieve an expansion of renewable energy in Austria. read more...

28 October 2019

Finance

Austria: major changes in personal bankruptcy law

On 28 June 2017 the Austrian Parliament passed the government's legislative proposal on insolvency law (Insolvenzrechtsänderungsesetz 2017). After lengthy negotiations, the government finally agreed to shorten personal insolvency proceedings to a maximum five years and to abolish the minimum insolvency quota of 10 % under certain conditions. The amendments will be applicable as of 1 November 2017. read more...

28 October 2019

EU & Competition

Significant amendments to the romanian competition rules - what's new?

The newly adopted Government Emergency Ordinance No. 39/2017 (the "Ordinance") introduces significant changes to Romanian competition rules. For example, it implements the provisions on actions for damages resulting from competition law infringements, as regulated under Directive 2014/104/EU (the "Damages Directive") and sets out new provisions impacting the food/non-food retail sector, as well as the dawn-raid procedure and fines applicable by the Romanian Competition Council (the "RCC") to non-resident undertakings. read more...

28 October 2019

Crime

The austrian law on the responsibility of associations: new tendency to prosecution authorities to t

The Austrian Law on the Responsibility of Associations (Verbandsverantwortlichkeitsgesetz, "VbVG") came into effect in 2006, stipulating that a company can be held criminally liable for certain criminal acts committed by its employees and decision-makers. According to new tendencies of prosecution authorities, the practical scope of the VbVG could expand in the future. read more...

28 October 2019

Finance

Croatia: lex agrokor - government intervention at the eleventh hour

Lex Agrokor – behind the scenes The hottest topic in Croatia right now is the Agrokor situation and the newly enacted Act on Compulsory Administration Procedure in Companies of Systemic Importance for the Republic of Croatia (Zakon o postupku izvanredne uprave u trgovačkim društvima od sistemskog značaja za Republiku Hrvatsku; the "Act"). The Act was immediately nicknamed "Lex Agrokor" because of what appears to be its main purpose.

28 October 2019

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