An approaching milestone after decades – Part 1: Overview and jurisdiction

CMS has advised German investment company Finexx on its acquisition of Volpini Verpackungen GmbH Austria. The financial details of the transaction were not disclosed.

A year has passed since the outbreak of COVID-19 in Austria and many legal problems remain unresolved. The problem seems new, but the legal provisions of the Austrian Civil Code em-ployed to deal with thae consequences of the pandemic are more than 200 years old, and were drafted in order to deal with quite different pandemic effects. The law refers to “extraordinary events” such as “fire, war or pandemic, major floods, weather events.” There is agreement that COVID-19 is a pandemic and therefore an extraordinary event in the meaning of the law.

Schoenherr has advised Energie Graz, Energie Steiermark, EVN, Illwerke VKW, Innsbrucker Kommunalbetriebe AG, Kelag, and Linz AG on the foundation of a joint venture in the e-mobility sector. 

On 21 April 2021, the European Commission (ECOM) published measures aimed at fostering sustainable investment and steering finance towards the European Green Deal.

Former PWC Legal Partner Stefanie Werinos-Sydow has brought her team to PHH Rechtsanwalte in Vienna.

Schoenherr has advised Raiffeisen Bank International as arranger on a true sale securitization of a EUR 538 million portfolio of vehicle leasing receivables by Raiffeisen Leasing Group. Clifford Chance advised RBI on German law aspects of the transaction, and anchor investors, which include the European Investment Bank and the European Investment Fund, were advised by Linklaters and Binder Groesswang.

Over the last couple of years, more and more countries have deployed technologies that allow them to match digital images of a person (e.g. from a surveillance camera) against a database of pictures.

Herbst Kinsky has advised the Biogena Group Invest AG on its capital increase to approximately four million shares. 

In December 2020 the Higher Administrative Court issued an interesting ruling regarding the party status of environmental organisations (EOs). Until now, the scope of EOs' participation rights in Austrian nature conservation proceedings was unclear. The court's ruling clarifies that EOs' party status is to be interpreted broadly.

Austrian lawyers Ludwig Hartenau and Maria Dreher are among 22 members of Freshfields's 22-strong global partnership promotion round.

Binder Groesswang has advised Deutsche Beteiligungs AG and its portfolio company Fast Lean Smart Group GmbH on their acquisition of Impactit GmbH. Bird & Bird reportedly advised Deutsche Beteiligungs as well, and KPMG Law reportedly advised the unidentified seller.

Jank Weiler Operenyi, the Austrian member of Deloitte Legal, has advised the Kruger Group, the minority shareholder in soda maker manufacturer Sodapop Austria GmbH, on the acquisition of the remaining shares of the company from BAST Unternehmensbeteiligungs GmbH and ROHE Vertriebsmanagement und BeteiligungsgmbH. Austria's Berger Ettel law firm reportedly advised the sellers.

Ingo Braun and Markus Schifferl have joined BPV Huegel in Vienna.

Herbst Kinsky has advised Viennese start-up GoStudent on its EUR 70 million Series B investment round, which included existing investors Left Lane Capital and DN Capital as well as New York fund Coatue. Goodwin and Schoenherr advised Left Lane, and Cooley and Wolf Theiss reportedly advised Coatue.

Binder Groesswang and White & Case advised Verbund AG on their issuance of innovative green and sustainability-linked notes with a volume of EUR 500 million. Schoenherr and Linklaters advised BofA Securities and J.P. Morgan in their capacities as joint ESG structuring agents and joint bookrunners, as well as Erste Group, Morgan Stanley, and Societe Generale in their capacities as Joint Bookrunners.

Binder Groesswang, working alongside lead counsel Kirkland & Ellis, has advised GTCR and Corza Health on its acquisition of TachoSil Surgical Patch from Takeda, the subsequent merger with Surgical Specialties, and the resulting founding of Corza Medical. Takeda was advised by Linklaters.

Brandl Talos advised a syndicate of the 42CAP, Amino Collective, Push Ventures, Air Street Capital, and VP Venture Partners funds on their investment in Allcyte. Germany's SMP law firm advised the 42CAP fund on its participation. Herbst Kinsky advised Allcyte.