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corporate & reorganisations news

Get an overview of our corporate & reorganisations news.

Read through our corporate & reorganisations team's articles, publications and news:

publication

to the point: Gesellschafts- und Unternehmensrecht | Q1 2021

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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event

13 April 2021

austria

M.Ritt-Huemer

Unternehmensnachfolge | Teil 1: Erbrecht für Unternehmer

Im Leben jedes Unternehmers stellt sich früher oder später die Frage der Nachfolge. Mit der Webinar-Reihe zum Thema "Unternehmensnachfolge" wollen wir Unternehmern die Entscheidungsgrundlagen dazu darlegen und mögliche Gestaltungen aufzeigen.

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publication

The International Comparative Legal Guide to: Mergers & Acquisitions 2021

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blog

05 March 2021

romania

S.Lazăr N.Oprea

Remuneration Policy – Implementation guidelines launched in Romania

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press release

Bulgaria: Schoenherr advises OSRAM GmbH on sale of its Bulgarian business

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roadmap

A new reality coming for Polish groups of companies

Work is underway to amend Poland's corporate law by introducing a "holding law" or "group of companies law", which would not only govern relations between a parent company and its subsidiaries, but also recognise the interests of creditors, minority shareholders and members of corporate bodies.

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roadmap

General meeting decision-making process to become more flexible

Czech Act No. 90/2012 Coll., on Business Corporations ("BCA") provides that the options for making decisions within the general meeting or outside the general meeting by letter (per rollam) using technical means (e.g. Webex or Skype electronic conferencing tools) must be permitted by the company's constitutional document.

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roadmap

Austrian Limited: a new type of corporation for start-ups in Austria

The agenda published by the Austrian Federal Government at the beginning of 2020 has already provided for the establishment of a new type of corporation: the Austrian Limited. Implementation plans are becoming more concrete. The general aim is to ensure that founders and start-ups have an "internationally competitive option" in the early stages with a new form of corporation.

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roadmap

Bulgarian corporate life: Adapting to a new informal normal

The guiding principle of 2020 was adaptation and, as it seems, the tendency has been for corporate life to become more informal. Statutory deadlines have been pushed, legal requirements have been loosened, documents are more often filed online instead of in hard copy and shareholders meetings are held in absentia.

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publication

Sanierungsinstrumente für Gesellschaften in der „Krise“ (Teil 2)

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press release

07 January 2021

austria

S.Hödl R.Perner

Austria/CEE: Schoenherr maintains position as top M&A legal advisor on the Austrian market

Schoenherr has again maintained its position as the top M&A legal advisor on the Austrian market, leading the Austrian Mergermarket M&A league tables.

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newsletter

28 December 2020

czech republic

V.Čížek J.Marek

Fundamental changes introduced by the amendment to the Business Corporations Act

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newsletter

The impact of the amendment to the Business Corporations Act on credit financing

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publication

23 December 2020

austria

M.Marschall G.Ebner

Mögliche Außenwirkung eines Zustimmungsvorbehalts bei der stillen Gesellschaft

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q4 2020

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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press release

Austria: Schoenherr advises voestalpine on foundation of technology joint venture for production of TransAnt

Schoenherr successfully advised voestalpine Stahl GmbH on the establishment of a joint venture with the ÖBB Rail Cargo Group for the production of the TransAnt – an innovative platform car. The 50/50 joint venture which aims to further combine the activities of both companies to additionally enhance the jointly developed TransAnt platform car is now entering a preparatory phase. 

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newsletter

23 November 2020

romania

M.Neagu

Romania: New law on debureaucratising functioning of companies enters into force

Law 223/2020, which came into effect on 5 November 2020, has introduced a series of important changes to the Companies Law 31/1990.

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press release

06 October 2020

czech republic

V.Čížek

Czech Republic: Schoenherr advises KB SmartSolutions, a.s. on the strategic entry and acquisition of a stake in Platební instituce Roger a.s.

Schoenherr advised KB SmartSolutions, s.r.o. ("KB Smart Solutions"), a subsidiary of Komerční banka, a.s. focusing on collaborating with innovative fintech companies and start-ups, on the strategic entry and acquisition of an almost 25 % share in Platební instituce Roger a.s., which connects investors with companies that suffer from long invoice maturities. 

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q3 2020

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press release

Romania: Schoenherr advises OMV Petrom on strategic partnership with Auchan to open 400 MyAuchan proximity stores in Petrom filling stations

Schoenherr Romania advised OMV Petrom on all legal matters regarding the extension of an existing partnership with Auchan Retail Romania, to open 400 MyAuchan proximity stores in Petrom filling stations over the next five years. Depending on the square meterage of the station, up to 2,500 products will be available on the shelves of MyAuchan proximity stores, allowing Petrom customers to do their grocery shopping while fuelling their cars.

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publication

28 August 2020

austria

G.Ebner

Haftung der Geschäftsleiter für unzulässige Zahlungen nach materieller Insolvenz - Deckungsumfang der D&O-Versicherung

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newsletter

Mandatory e-communication for companies seated in Croatia

The digitalisation of the Croatian court system is proceeding and e-communication is expanding. Snail mail and "paper" communication are on the verge of extinction. As of 1 September 2020, all legal entities will have to use e-communication with the court.

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newsletter

20 August 2020

romania

M.Neagu

Romania: New steps towards debureaucratising functioning of companies

At the beginning of 2020, legislative initiatives were launched to debureaucratise the functioning of companies established in Romania.

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newsletter

Montenegro: Insight into the New Companies Act

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press release

27 July 2020

romania

M.Neagu

Romania: Schoenherr advises TeraPlast S.A. on the sale of several business lines to Kingspan Group plc

Schoenherr Romania advised TeraPlast S.A. on the sale of its sandwich panel, metallic roof tile and accessories businesses to Kingspan Group plc. 

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publication

Chambers Corporate Governance Guide 2020

The Chambers Corporate Governance Guide provides up-to-date expert legal commentary on rules, requirements and practices for businesses. This guide covers the most important developments in Corporate Governance in significant jurisdictions. Schoenherr contributed the Austria chapter to the guide.

Read the full chapter here.

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newsletter

20 July 2020

romania

Romania eases procedure for setting up new companies

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publication

14 July 2020

austria

C.Herbst R.Perner

The International Comparative Legal Guide to: Corporate Governance 2020

The International Comparative Legal Guides provide current and practical comparative legal information on a range of practice areas, following a Q&A format to ensure thorough coverage of each topic within different legal systems worldwide.

Chapter 6: Austria

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publication

14 July 2020

austria

M.Marschall

Bilanzierung zwischen Bilanzstichtag und Auflösungsstichtag bei Aktiengesellschaften

Wird eine Aktiengesellschaft während des laufenden Geschäftsjahres aufgelöst, entsteht ein Rumpfgeschäftsjahr und es stellt sich die Frage, ob – neben der Abwicklungseröffnungsbilanz – auch ein Jahresabschluss für den Zeitraum zwischen dem letzten Bilanzstichtag und dem Auflösungsstichtag (somit die letzte Phase als "werbende Gesellschaft") aufgestellt werden muss.

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publication

09 July 2020

austria

G.Ebner

Der Einwand rechtmäßigen Alternativverhaltens und die Verletzung von Zustimmungsvorbehalten

Die Geschäftsführung einer GmbH und der Vorstand einer AG können im Haftungsprozess den Einwand rechtmäßigen Alternativverhaltens erheben.

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newsletter

29 June 2020

romania

C.Enaga M.Neagu

Romania: Streamlining procedure for declaring beneficial owners

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q2 2020

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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publication

Sanierungsinstrumente für Gesellschaften in der "Krise"

Im österreichischen Gesellschaftsrecht einschließlich Bilanzrecht (UGB), Ertragsteuer-, Unternehmensreorganisations-, Insolvenz- und Eigenkapitalersatzgesetz finden sich unterschiedliche Anknüpfungen an die "Krise" eines Unternehmens.

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newsletter

27 May 2020

bulgaria

S.Ribanchova

Bulgaria: New relieved procedure for the publication of annual financial statements

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publication

AktG Praxiskommentar

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publication

Wer kann bei Bilanzfälschung durch Vorstandsmitglieder zur Verantwortung gezogen werden?

Einmal mehr steht die Bilanzfälschung bei AGs medial im Fokus.

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newsletter

30 April 2020

slovenia

J.Primožič

Slovenia: Holding a remote General Meeting in a Slovenian limited liability company

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publication

29 April 2020

austria

T.Wenger G.Ebner

Austria: Virtuelle Versammlungen nach dem COVID-19-GesG

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newsletter

Czech Republic: LEX COVID and changes to corporate law

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press release

CEE: Schoenherr wins four Deal of the Year awards from CEE Legal Matters

Schoenherr has won the Deal of the Year Award for Bulgaria, Croatia, Montenegro, and North Macedonia at this year's CEE Deal of the Year Awards organised by the regional legal industry journal CEE Legal Matters.

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blog

10 April 2020

austria vienna

T.Kulnigg

Das COVID-19-GesG – aktuelles zu Virtuellen Versammlungen im Gesellschaftsrecht und zu elektronischen Notariatsakten

Update 10/04/2020

Der Nationalrat hat unter anderem im Zuge der COVID-19-Gesetzgebung mehrere gesellschaftsrechtliche Maßnahmen im Rahmen eines sog. gesellschaftsrechtlichen COVID-19-Gesetzes (COVID-19-GesG) beschlossen.

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newsletter

08 April 2020

austria

R.Perner

Aktuelle gesellschaftsrechtliche Maßnahmen nach COVID-19-GesG und COVID-19-GesV

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publication

The International Comparative Legal Guide to: Mergers & Acquisitions 2020

The International Comparative Legal Guides provide current and practical comparative legal information on a range of practice areas, following a Q&A format to ensure thorough coverage of each topic within different legal systems worldwide.

more
newsletter

Auswirkungen der COVID-19-Krise auf Verjährungsfristen

Das 2. COVID-19 Gesetz, das nach der Kundmachung im Bundesgesetzblatt (BGBl 16/I/2020) mit Beginn des 22.03.2020 in Kraft getreten ist, enthält auch ein Bundesgesetz betreffend Begleitmaßnahmen zu COVID-19 in der Justiz.

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newsletter

21 March 2020

romania

Romania: Secret voting in general shareholders' meetings

The corporate functioning rules for joint stock companies have been repeatedly altered by Romanian legislation, especially in relation to the governing structures of companies, such as shareholders' assemblies and management bodies.

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newsletter

19 March 2020

romania

C.Ştirbu V.Stropșa

State of emergency declared in Romania: main points for legal impact on companies

The President of Romania has declared a state of emergency in Romania as of 16 March 2020, for a duration of 30 days, in the context of COVID-19.

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q1 2020

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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media coverage

04 March 2020

austria

R.Perner

Hauptversammlungen: Keine Absagen trotz Corona

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newsletter

02 March 2020

poland

A.Stawiarska

What's new for Polish companies in 2021? | Poland

2021 will be a year of changes for companies in Poland. With the recent postponement of the already announced innovations and the new obligations for joint-stock companies and joint-stock partnerships, companies have time to prepare for what's to come.

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press release

02 March 2020

moldova

V.Iurkovski

Moldova: Schoenherr advises Fintur on the divestment of Moldcell to CG Cell Technologies DA

Schoenherr advised Fintur Holdings B.V., wholly-owned by listed Swedish telephone company Telia Company AB, on the divestment of its 100 % holding of Moldcell S.A., to CG Cell Technologies DAC for USD 31.5 million. 

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media coverage

26 February 2020

austria

S.Schulz

Fragwürdiger Schutz vor unerwünschten Investoren

This article was first published on DerStandard, 25.02.2020

Vor allem aus Sorge vor Übernahmen aus China werden in Europa neue Kontrollen von Beteiligungen aus Drittstaaten eingeführt

 

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newsletter

24 February 2020

bulgaria

G.Roussinova

Bulgaria: Approaching Deadline for Inactive Companies | Bulgaria

Pursuant to the Bulgarian Accountancy Act (Закон за счетоводството), companies must publish their annual financial statements in the Commercial Register and Register for Non-profit Legal Entities ("Commercial Register") by 30 June of the calendar year following the reported period.

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newsletter

The four-eyes principle: Joint representation of executive directors and proxyholders | Czech Republic

The four-eyes principle is an effective way for companies to control management dealings. It is based on the idea that the company must be represented by two people acting jointly, usually two members of the statutory body.

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newsletter

17 February 2020

austria

L.Scheicher G.Ebner

Judicial authorisation of transfer of shares with restricted transferability | Austria

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press release

29 January 2020

austria

T.Kulnigg

Austria: Schoenherr advises bsurance on its Series-A financing

Schoenherr has advised Austrian insurtech start-up bsurance on its Series-A financing round. The investment totals EUR 4 million and was provided by UNIQA Ventures GmbH and an additional investor.

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roadmap

cee overview - corporate/m&a

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roadmap

"If you want to keep a secret, you must also hide it from yourself." ― George Orwell, 1984

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roadmap

2020

serbia

L.Lopičić J.Arsić

Royalty Financing: A New Source of Capital in Mining, Tech and Beyond

Royalty financing is a type of alternative finance where the financier, often called the royalty holder, advances a one-off up-front fixed cash amount to a company, a royalty payor, which in return promises to pay a percentage of its future revenues or profits to the royalty holder. This type of financing is used to develop an asset or a business when traditional debt or equity financing options are limited. It is a true alternative to traditional debt finance, since there is no fixed repayment plan and payments depend on the performance of the underlying business or asset. Also, unlike equity financing, the ownership and control in the royalty payor is not diluted, since it is not giving away its equity stake.

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roadmap

Not every corporate story ends with "happily ever after"

"Once upon a time" is a promising beginning for any story. Even for corporate ones. But statistics show that unhappy endings are all too common. In Romania, for every four new legal entities incorporated each year, one existing company is wound up.

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publication

CZ: Schoenherr Journal Edition 8

The Schoenherr Journal, published in Czech twice a year by Schoenherr's Prague office, examines the latest important legal developments in the Czech Republic.

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publication

11 December 2019

austria

R.Perner M.Ritt-Huemer

to the point: Gesellschafts- und Unternehmensrecht | Q4 2019

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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publication

09 December 2019

austria

R.Perner L.Scheicher

Von Wien nach München - grenzüberschreitende Umwandlungen in der Praxis

Mit dem rezenten Beschluss des OLG Wien v 3. 9. 2019 (6 R 179/19s) liegt erstmals eine obergerichtliche Entscheidung zu einer grenzüberschreitenden formwechselnden Umwandlung und Sitzverlegung ins EU-Ausland vor.

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press release

15 November 2019

austria

T.Kulnigg

Austria: Schoenherr advises fintech start-up Credi2 on investment from Volkswagen Bank

Schoenherr advised Austrian company Credi2 GmbH on an investment from Germany's Volkswagen Bank, which will henceforth hold a 20 % share in Credi2.

 

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media coverage

08 November 2019

austria

T.Kulnigg

Erste GmbH-Gründung über die Kamera

First published on Der Standard, 6.11.2019

Eine Gesellschaft kann in Österreich nun ohne physische Anwesenheit gegründet werden

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publication

04 November 2019

serbia

B.Rajić M.Mihaljčić

Global Legal Insights to: Blockchain & Cryptocurrency Regulation 2020 - Chapter Serbia

The Global Legal Insights series provides essential insights into the current legal issues, providing readers with expert analysis of legal, economic and policy developments through the eyes of the world's leaders.

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publication

04 November 2019

montenegro

J.Barović L.Veljović P.Vučinić

Global Legal Insights to: Blockchain & Cryptocurrency Regulation 2020 - Chapter Montenegro

The Global Legal Insights series provides essential insights into the current legal issues, providing readers with expert analysis of legal, economic and policy developments through the eyes of the world's leaders.

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press release

29 October 2019

austria

S.Hödl

Schoenherr advises Black Toro Capital, the owner of the Spanish motorcycle manufacturer GasGas on a joint venture with KTM

Schoenherr, together with the Spanish law firm Pastor & M.Monche Abogados, have advised the owner of the Spanish motorcycle manufacturer GasGas, Black Toro Capital, on a joint venture with the Upper Austrian motorcycle specialist KTM Industries AG.  

 

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newsletter

28 October 2019

Czech Republic

E.Purgerová

Limitation of liability of elected corporate body members

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publication

25 October 2019

austria

R.Perner M.Ritt-Huemer

to the point: Gesellschafts- und Unternehmensrecht | Q3 2019

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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press release

04 October 2019

romania

N.Oprea

Schoenherr advises Horizon Capital on its exit from Purcari Wineries, a leading wine producer in CEE

Schoenherr advised Horizon Capital, the management company of Emerging Europe Growth Fund II L.P. ("EEGF II"), on the fund's exit from Purcari Wineries Plc ("Purcari"). EEGF indirectly held a 22.7 % stake in Purcari.

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press release

12 September 2019

czech republic

V.Čížek

Schoenherr advises Spanish manufacturer Torrot on delivery of electric scooters and related technology to ŠKODA AUTO DigiLab

Schoenherr Prague advised Spanish manufacturer Torrot Electric Europa, S.A. ("Torrot") on the delivery of complex technology solutions for scooter sharing (including also electric scooters, advanced IT technologies and IT services) to ŠKODA AUTO DigiLab s.r.o. ("ŠKODA AUTO DigiLab"), which will use them for its new e-scooter sharing service BeRider in Prague. 

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newsletter

03 September 2019

romania

C.Enaga M.Neagu

Private companies must now declare their beneficial owners - Romania

Failure to comply with the recently introduced obligation to declare beneficial owners for registration purposes with the Central Register of Beneficial Owners of Private Companies can mean fines of up to RON 10,000.

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newsletter

18 July 2019

austria

P.Wetter P.Kalser

Management's liability for payments upon onset of insolvency

A financial crisis and situations where insolvency is imminent are not only challenging for a company and its management, but also entail significant liability risks for management in the case of subsequent insolvency proceedings.

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publication

Chambers Corporate Governance Guide 2019

The Chambers Corporate Governance Guide provides up-to-date expert legal commentary on rules, requirements and practices for businesses.

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newsletter

25 June 2019

austria

P.Feyl

First decision by Austrian Supreme Court on cash pooling: No blank cheque for banks but some relief

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newsletter

12 June 2019

austria

L.Scheicher

Say on pay and related party transactions: implementation of EU Shareholder Rights Directive II

The EU Shareholder Rights Directive II (2017/828) (SRD II), amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement, must be transposed into national law by 10 June 2019.

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q2 2019

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

more
media coverage

05 June 2019

romania

D.Iàcona

Daniele Iacona, Head of Italian Desk at Schoenherr Attorneys at Law: The uncertainty of legal certainty in Romania

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press release

28 May 2019

austria

C.Herbst

Schoenherr represents Austrian Core Shareholders on re-acquisition of majority shareholding in C-Quadrat from HNA Group

Schoenherr has advised and represented an investment company controlled by San Gabriel Privatstiftung and the C-Quadrat management board member Cristobal Mendez de Vigo, on the re-acquisition of a controlling participation in Cubic (London) Limited ("Cubic"), and thus indirectly in C-Quadrat Investment AG ("C-Quadrat"), from HNA Group (International) Asset Management Co., Limited, Hong Kong ("HNA"). The Jebsen Group, an investment company based in Hong Kong, will hold a minority participation.

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newsletter

19 May 2019

romania

M.Neagu

Exit strategies: registering a share transfer when target shares are encumbered by third parties

The stock market's flexibility is its greatest selling point for publicly traded companies, as it allows a fast flow of capital while still enabling majority shareholders to implement fundamental corporate changes should they wish to exit the market.

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newsletter

Legal Alert for Approaching Deadline of UBO Registration

Bulgarian anti-money laundering law requires that companies and other entities having their seat in Bulgaria register their ultimate beneficial owner(s).

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publication

16 May 2019

austria

M.Ritt-Huemer

Genossenschaft, spalte dich! - Das neue Genossenschaftsspaltungsgesetz im Überblick

Das neue Genossenschaftsspaltungs­gesetz im Überblick

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newsletter

14 May 2019

austria

M.Simsa

Supreme Court facilitates financing companies with cross-border business

For the first time, the Austrian Supreme Court has upheld a security right granted under German law, even though the asset had been transferred to Austria.

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newsletter

13 May 2019

croatia

G.Grancarić*

Changes in the Croatian Companies Act and Court Register Act

Croatia introduced significant changes to the Companies Act and the Court Register Act on 20 April 2019 with the main goal of easing the incorporation of (simple) limited liability companies ("ltd companies").

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publication

02 April 2019

austria

M.Stimakovits

Einschränkung des Antrags auf Kosten im Außerstreitverfahren - hier: Ersatzbestellung eines Schiedsrichters

Comment to the Austrian Supreme Court's decision of 21 August 2019, no. 18 ONc 3/18p, relating to the merits of a notice of arbitration and the appointment of arbitrators by the Austrian Supreme Court in arbitral proceedings under the Austrian Arbitration Act.

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press release

Schoenherr wins three CEE Deal of the Year Awards for Austria, Bulgaria and Montenegro from CEE Legal Matters

Schoenherr received the CEE Deal of the Year Award for Austria, Bulgaria and Montenegro from the regional legal industry journal CEE Legal Matters. 

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press release

21 March 2019

austria

A.Popp

Schoenherr named "Austria's m&a law firm of the year" by Chambers and Partners

Schoenherr has been recognised as "Austria's m&a law firm of the year" by the renowned legal publisher Chambers and Partners.

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press release

13 March 2019

austria

R.Bachner

Austria: Schoenherr advises UniCredit Bank Austria AG and Erste Bank der oesterreichischen Sparkassen AG on sale of majority stake in ÖHT to OeKB

Schoenherr has advised UniCredit Bank Austria AG and Erste Bank der oesterreichischen Sparkassen AG on the sale of their combined 68.75% stake in Österreichische Hotel- und Tourismusbank Gesellschaft m.b.H (ÖHT) (a specialist bank established in the tourism and leisure industry as a financing and development institution) to Oesterreichische Kontrollbank AG (OeKB). 

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q1 2019

In unserem "to the point" beleuchten unsere Experten für Sie jedes Quartal die aktuelle österreichische Rechtsprechung im Gesellschafts- und Unternehmensrecht.

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publication

20 February 2019

austria

M.Ritt-Huemer

Sachdividende, stille Reserven und Ausschüttungssperre

Durch die Ausschüttung einer Sachdividende werden bei der ausschüttenden Gesellschaft stille Reserven aufgedeckt, wenn der Verkehrswert des ausgeschütteten Gegenstands dessen Buchwert übersteigt.

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media coverage

14 February 2019

austria

C.Herbst S.Schulz

Angriff der Aktionärsaktivisten

First published on Der Standard, 14.02.2019

Die neue Aktionärsrichtlinie wird den Kampf von aktivistischen Investoren um Einfluss auf börsennotierte Unternehmen in der EU verstärken – auch in Österreich

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press release

06 February 2019

austria

T.Kulnigg

Austria/CEE: Schoenherr sharpens focus on technology & digitalisation matters

Schoenherr is sharpening its focus on technology & digitalisation matters by establishing a dedicated, firm-wide technology & digitalisation group.

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press release

30 January 2019

austria poland

M.Lagler

Austria/CEE: Schoenherr promotes Gudrun Stangl to equity partner and Arabella Eichinger to contract partner

Stefanie Aichhorn-Wöss, Marcin Antczak, Ayla Ilicali and Veronika Wolfbauer become counsel

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newsletter

25 January 2019

austria

M.Ritt-Huemer

Austria: Government preparing for a "hard Brexit" – effects on corporate law

Now that the British parliament has rejected the Brexit deal in a vote last week, fears of a lawless exit of the UK from the EU are growing daily. In anticipation of this no-longer-unlikely scenario, the Austrian government is preparing for a "hard Brexit".

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roadmap

Digitisation, administration and transfer of registered shares of an unlisted AG on the blockchain

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roadmap

Smart contracts: Too smart for Austrian civil law?

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roadmap

2019

turkey

The effects of digitalisation on Turkish corporate law

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press release

08 January 2019

austria

A.Popp

Austria/CEE: Schoenherr leads the 2018 M&A legal market in Austria

Schoenherr has topped the Austrian Mergermarket M&A league tables and again maintained its position as the leading M&A legal advisor in its home market. 

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roadmap

Legal hiccups in start-up financing

From pre-seed to exit, start-ups are chronically in need of money to ensure their steady growth. Due to lack of access to bank financing, start-ups are typically financed by their shareholders via equity finance or debt. But there are also hybrid instruments that can be used to bridge the gaps between financing rounds or to overcome valuation issues.

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press release

07 January 2019

czech republic

V.Čížek

Czech Republic: Schoenherr advises Finnish company Caverion on the disposal of its Czech subsidiary to a company in the ČEZ Group

Schoenherr Czech Republic advised Finnish company Caverion Emerging Markets Oy ("Caverion") on the disposal of its Czech subsidiary Caverion Česká Republika s.r.o. to KART spol. s r.o., a member of the ČEZ Group.

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newsletter

05 December 2018

poland

K.Pawlak

Filling the Gaps in Polish Corporate Law

On 30 November 2018, a new law implementing several changes to existing legislation (1), notably to the Civil Code and the Commercial Companies Code, as well as to tax laws, was announced. The new law, which will enter into force at the beginning of 2019 (with respect to matters commented on below, mostly as of 1 March 2019).

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newsletter

28 November 2018

czech republic

R.Bicek

Czech Republic: Which compliance programme can exculpate your company from criminal liability?

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newsletter

12 November 2018

bulgaria

G.Roussinova

Bulgaria: High time for companies to register their beneficial owner

Companies have until 31 May 2019 to register their beneficial owners in the Bulgarian Commercial Register and Register for Non-profit Legal Persons (the "Commercial Register"). This obligation comes as a result of the adoption of a new Law on the measures against money laundering in March this year (the "AML Law").

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press release

08 November 2018

hungary

K.Hetényi M.Lagler

Hungary: Schoenherr promotes competition expert Anna Turi and labour specialist Dániel Gera to counsel

Anna Turi and Dániel Gera, two of Schoenherr Hungary's most experienced legal experts, have been promoted to counsel. 

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newsletter

29 October 2018

austria

P.Nimmerfall

Austria: Constitutional Court rules on Squeeze-Out Act's compatibility with Constitution

The Constitutional Court recently ruled on whether the Squeeze-Out Act is compatible with the Constitution.(1)

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newsletter

22 October 2018

romania

M.Neagu

Romania: All board decisions made by delegation of powers can be challenged in court

To enable decisions to be passed efficiently, the Companies Law (31/1990) created flexible mechanisms and procedures allowing specific shareholder powers to be delegated to a company's management.

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newsletter

Austria: Increased due diligence obligations for shareholder creditors?

The Austrian Insolvency Code provides for the possibility to challenge certain disadvantageous transactions carried out by the debtor after material insolvency has occurred, especially if the creditor knew or should have known of its debtor's material insolvency. 

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newsletter

18 October 2018

hungary

K.Hetényi A.Menczelesz

New Act on the Control of Investments Detrimental to the Interests of Hungarian National Security

The Hungarian Government recently adopted Act no. LVII of 2018 on the Control of Investments Detrimental to the Interests of Hungarian National Security (the "Act"). 

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press release

Austria/SEE: Schoenherr advises immigon and VR-Leasing on sale of VB-Leasing International

Schoenherr has advised German VR-Leasing AG ("VR-Leasing"), a leasing subsidiary of DZ Bank, and Austrian immigon portfolioabbau ag ("immigon"), the wind down company of the former Österreichische Volksbanken-Aktiengesellschaft, on the sale of VB-Leasing International to a consortium of partners consisting of APS, a leading CEE/SEE distressed debt investment advisor and manager, Nomura, the Asia-headquartered financial services group, and Balbec Capital, a global private investment firm.

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press release

CEE: Schoenherr advises on sale of United Group by KKR to BC Partners

Schoenherr has advised on the sale of a majority stake in United Group, the leading media and communication services provider across South East Europe, by KKR to funds advised by BC Partners. 

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newsletter

30 August 2018

romania

Romania: Companies can now distribute dividends on a quarterly basis - but will they?

Until recently, Romanian companies could distribute dividends to shareholders only on an annual basis and on approval of their annual financial statements at the end of each financial year. This paradigm has changed and companies can now opt to distribute their dividends annually or quarterly.

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press release

Schoenherr CEE experts advise Telenor on sale of regional assets to PPF Group

Schoenherr advised Norwegian mobile operator Telenor ASA ("Telenor") on the sale of its Central and Eastern European assets to the CEE private investment firm PPF Group for a consideration of EUR 2.8bln.

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press release

12 July 2018

austria

M.Lang

Schoenherr advises NOVOMATIC on sale of majority stake in I-NEW Unified Solutions

Schoenherr has advised NOVOMATIC AG ("NOVOMATIC"), one of the world's largest producers and operators of gaming technologies, on the sale of 76.81 % in I-NEW Unified Mobile Solutions AG ("I-NEW"), a local telecommunications software and hardware firm, to CYAN AG ("CYAN").

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press release

11 July 2018

austria

T.Kulnigg

Schoenherr advises Endeit Capital in largest Austrian start-up financing round in 2018

Schoenherr is harnessing its start-up and venture capital expertise by advising Dutch capital investment firm Endeit Capital in a EUR 50 million Series C financing round for Austrian tour booking platform TourRadar. 

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newsletter

Hungary: Introducing the managing director without representation rights

Hungarian law has always permitted shareholders of a company to limit the power of the company's managing director(s). Thus, it has also been allowed to appoint a managing director without any right to represent the company.

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press release

03 July 2018

austria

C.Herbst

Austria: Schoenherr advises Starwood Capital on the acquisition of a core shareholding of 26% in CA Immo

Schoenherr has advised Starwood Capital Group ("Starwood") on the acquisition of a core shareholding in VSE listed CA Immobilien Anlagen AG ("CA Immo") from VSE listed Immofinanz AG ("Immofinanz"). 

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press release

26 June 2018

austria

R.Perner

Schoenherr CEE team awarded for Deal of the Year in Austria

Schoenherr was honoured by the regional legal industry journal CEE Legal Matters with the Austrian award during the inaugural edition of the Deal of the Year Awards Ceremony held on 6 June 2018 in Prague. 

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newsletter

19 June 2018

romania

Romanian companies will be able to distribute dividends on a quarterly basis

The Romanian Parliament recently approved the Law on the Amendment and Completion of the Accounting Law No. 82/1991, Amendment and Completion of the Companies Law No. 31/1990 and Amendment and Completion of Law No. 1/2005, on the organisation and functioning of cooperative companies.

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press release

07 June 2018

austria

R.Bachner

Schoenherr advises UniCredit on strategic Bancassurance partnerships with Allianz and Generali in CEE

Schoenherr has advised the UniCredit Group on establishing 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, Czech Republic, Hungary, Romania, Serbia, Slovakia, and Slovenia announced on 5 June 2018 (see here)

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press release

28 May 2018

slovenia

Schoenherr advises on Avia Prime's strategic partnership with Hartenberg

Schoenherr has advised alongside Polish lead counsel Gessel on establishing a strategic partnership between Avia Prime and Czech investment firm Hartenberg Holding ("Hartenberg"). 

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press release

Schoenherr advises EVO Payments on strategic payments partnership with MONETA Money Bank

Schoenherr's financial services team in Prague advised EVO Payments International ("EVO") on the creation of a long-term strategic alliance with MONETA Money Bank ("MONETA") for payment acceptance services to the bank's retail customers.

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newsletter

11 May 2018

R.Perner

WiEReG – Umfangreiche Sorgfalts- und Meldepflichten

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newsletter

11 May 2018

romania

M.Neagu

Romania: Squeeze-outs of minority shareholders: methods and pitfalls

The squeeze-out of minority shareholders in closely held companies is one of the most controversial issues in Romania, having led to many debates both in and out of court.

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press release

27 April 2018

austria

C.Herbst

Austria: Schoenherr represents Austrian Core Shareholders on sale of majority shareholding in listed C-QUADRAT to HNA

Schoenherr has advised and represented the core shareholders of Cubic (London) Limited ("Cubic"), including San Gabriel Privatstiftung, and T.R. Privatstiftung, as indirect controlling stockholders in C-QUADRAT Investment AG ("C-QUADRAT"), on the sale of the majority shareholding in Cubic, and thus C-QUADRAT, to the HNA Group (International) Asset Management Co., Limited, Hong Kong ("HNA"). HNA is part of the HNA Group, a leading Chinese diversified industrial group. C-QUADRAT is an independent asset management company listed on the Vienna stock exchange.

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newsletter

18 April 2018

austria

R.Perner

WiEReG – Umfangreiche neue Pflichten für Privatstiftungen

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press release

23 March 2018

slovenia

B.Brežan

Schoenherr advises Slovenian ENI subsidiary on acquisition of Mestni Plinovodi

Schoenherr has advised Adriaplin d.o.o. ("Adriaplin"), the Slovenian subsidiary of Eni S.p.A., on the acquisition of Mestni Plinovodi d.o.o. ("Mestni Plinovodi"), a local natural gas distribution network operator and gas supplier, from a consortium of sellers consisting of gas distributors Ireti and ACSM-AGAM from Italy and Istrabenz Plini from Slovenia.

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newsletter

Beneficial Owner Register - what to disclose in Austria and Czech Republic?

The disclosure of beneficial owners has come to the fore with the EU Anti-Money Laundering Directive requiring EU member states to adapt their national legal provisions in respect of corporate and legal entities. The registering of beneficial owners in businesses is an attempt to prevent money laundering and to increase transparency of ownership of defined legal entities. The laws in all jurisdictions need to be strictly adhered to, in order to avoid sanctions. What is the applicability of these disclosure regulations in practice? What are the associated registration costs and deadlines involved? What are the sanctions for non-compliance?

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newsletter

08 March 2018

austria

R.Perner

WiEReG – extensive duty-of-care and reporting requirements

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press release

21 February 2018

austria

M.Lang V.Weiss

Schoenherr advises specialty chemicals company Synthomer on acquisition of BASF SBR production site in Austria

Schoenherr advised British specialty chemicals company Synthomer plc ("Synthomer") on its acquisition of the BASF SE ("BASF") paper coating dispersions business in Austria for a purchase price of EUR 30m.

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press release

AT/CZ: Schoenherr strengthens teams in Vienna and Prague with two new contract partner promotions

Schoenherr is announcing the promotion of Austria IP lawyer Michael Woller and Czech corporate/M&A expert Vladimír Čížek to contract partner. 

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roadmap

Mandatory registration of beneficial owners introduced for all Czech entities

As of 1 January 2018, all legal entities registered in the Czech commercial register must  submit and register information about their beneficial owner(s) in the beneficial ownership register.

 

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roadmap

2018

turkey

Public disclosure obligations of companies in Turkey

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roadmap

2018

slovenia

Non-financial reporting in Slovenia

A recent amendment to the Slovenian Commercial Companies Act obliges public-interest companies to provide corporate governance and other non-financial statements in their annual reports. 

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roadmap

Compulsory disclosure of beneficial owners when doing business with a state in Slovakia

From early 2017, legal entities doing business with a state or holding specific licences have had to register information about their beneficial owner(s) in a publicly available registry.

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roadmap

Disclosure in the context of private m&a transactions

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newsletter

15 January 2018

austria

P.Nimmerfall

Austria: Managers under trade law: how will Constitutional Court rule?

The Higher Administrative Court(1) recently requested that the Constitutional Court repeal Section 39(2) of the Trade Act, as it infringes fundamental rights guaranteed by the Constitution. Initially, this update gives a brief overview of the prerequisites to obtain a trade licence and appoint a director under trade law in Austria.

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press release

08 January 2018

austria

C.Herbst

Austria: Schoenherr advises Liechtensteinische Landesbank on the acquisition of Semper Constantia Privatbank

Schoenherr has advised Zürich listed Liechtensteinische Landesbank AG ("LLB") on the acquisition of Semper Constantia Privatbank AG ("Semper Constantia"), Vienna. 

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press release

05 January 2018

austria

A.Popp

Number 1: Schoenherr leading the M&A legal market in Austria for a decade

For ten consecutive years, Schoenherr has topped the Austrian Mergermarket M&A league tables and maintained its position as the leading M&A legal advisor in its home market. 

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roadmap

Supervisory Board: Disclosure of conflicts of interest and confidential information

Prior to their election to the supervisory board of an Austrian stock corporation or, in case of a two-tier governance system, societas europaea candidates have to disclose to the shareholders their qualifications, profession and other functions as well as all circumstances that may create the appearance of a conflict of interest. 

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press release

22 December 2017

austria

C.Herbst

Austria/Germany: Schoenherr advises BUWOG on the public takeover bid of VONOVIA

Schoenherr is advising BUWOG AG ("BUWOG") as target company in the voluntary public takeover bid of VONOVIA SE ("VONOVIA").

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newsletter

20 December 2017

bulgaria

G.Roussinova

Bulgaria: Substantial changes for non-profit legal entities from 1 January 2018

A number of laws regulating the establishment, activities and termination of non-profit legal entities in Bulgaria have been reformed. The most important changes are:

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press release

11 December 2017

austria

R.Perner A.Popp

Schoenherr named leading M&A legal adviser in Austria by Mergermarket for the third time

Schoenherr was named "Austrian M&A Legal Adviser of the Year" by the leading business intelligence provider Mergermarket at the European M&A Awards 2017 Gala. 

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press release

Schoenherr advises Deutsche Private Equity on acquisition of Euro-Druckservice

Schoenherr advised Deutsche Private Equity Management III ("DPE") on its acquisition of leaflet printing business Euro-Druckservice ("EDS") from a consortium of three company shareholders. 

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press release

13 November 2017

austria

T.Kulnigg

Schoenherr advises VC firm Endeit Capital on EUR 9m financing round

Schoenherr is leveraging its start-up and venture capital expertise by advising Dutch capital investment firm Endeit Capital as lead investor in a EUR 9m Series B financing round for Austrian tour booking platform TourRadar.

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press release

Schoenherr advises on EU-Turkey Customs Union case

Schoenherr has successfully advised the association of Turkish freight forwarders ("UND") and Istanbul Lojistik ("IL") on an EU law infringement case against Hungary, which requires Turkish freight forwarding companies to obtain a transit permit for transporting goods across its territory.

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press release

18 October 2017

austria

C.Herbst

Austria: Schoenherr advises Accuron Technologies, Singapore, on acquisition of mechatronic systemtechnik

Schoenherr has advised Accuron Technologies Limited ("Accuron Group"), owned by Temasek Holdings, Singapore, on the acquisition of mechatronic systemtechnik GmbH ("mechatronic systemtechnik") from Danube Equity, a Voest Alpine group company and Fidura, a German private equity fund. The closing of the transaction took place on 16 October 2017.

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press release

17 October 2017

croatia romania austria

Austria: Schoenherr advises Atos on acquisition of Siemens Convergence Creators

Schoenherr has advised French IT service provider Atos SE ("Atos") on the planned acquisition of Siemens Convergence Creators GmbH ("CVC"). The parties have agreed not to disclose the purchase price.

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press release

03 October 2017

romania

S.Guţiu

Romania: Schoenherr wins three awards from leading financial journal Ziarul Financiar

Schoenherr si Asociatii was honoured by Romania's leading financial journal Ziarul Financiar with three awards during the eight edition of the Business Lawyers' Gala organised by the newspaper on 27 September in Bucharest. 

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press release

26 September 2017

austria

M.Piuk

Austria: Schoenherr advises BK Invest on acquisition of cloud-based customer dialogue solutions atms

Schoenherr advised BK Invest GmbH ("BK Invest") on the acquisition of atms Telefon- und Marketing Services GmbH ("atms"), which also includes sms.at mobile internet services GmbH ("sms.at"), from German company dtms GmbH. The parties have agreed not to disclose the financial terms of the transaction.

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newsletter

22 September 2017

czech republic

E.Purgerová

Czech Republic: New Developments in Contract Registration

The Act No. 340/2015 Coll., on special conditions for the effectiveness of some contracts, the publication of these contracts and the register of contracts (the "Act") has been in effect since 1 July 2016, from which date contracts concluded with certain subjects, such as the state (the Czech Republic), state fund, etc., if the amount of the contract is above CZK 50,000, need to be published in the register of contracts (the "Register").

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press release

21 September 2017

slovenia austria

Austria: Schoenherr advises Valora Group on acquisition of food service company BackWerk

Schoenherr has advised Swiss listed Valora Group ("Valora") on all Austrian aspects of the acquisition of German-based food service company BackWerk from the Swedish financial investor EQT.

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press release

14 September 2017

austria

C.Herbst

Austria: Schoenherr advises Schweighofer Group on sale of Schweighofer Fiber to TowerBrook Capital Partners

Schoenherr has advised Schweighofer Group on the sale of Schweighofer Fiber GmbH ("Schweighofer Fiber"), to private equity group TowerBrook Capital Partners L.P., London/New York ("TowerBrook Capital Partners").

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press release

11 September 2017

turkey

Turkey: Schoenherr advises Greiner Packaging on acquisition of Turkish TEKNİK PLASTİK GREİNER AMBALAJ

Schoenherr has advised the Austrian company Greiner Packaging International GmbH ("Greiner") on the acquisition of all shares in TEKNİK PLASTİK GREİNER AMBALAJ SANAYİ VE TİCARET ANONİM ŞİRKETİ ("TEKNİK PLASTİK GREİNER AMBALAJ"), one of Turkey's leading packaging and labelling companies. 

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press release

29 August 2017

poland austria

C.Herbst

Austria/Poland: Schoenherr advises KPS Capital Partners, New York, USA on acquisition of DexKo Global

Schoenherr advised US asset manager KPS Capital Partners, LP, New York, USA ("KPS") on the acquisition of DexKo Global's ("DexKo") production facilities in Austria and Poland, from private equity investment firm Sterling Group L.P.

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press release

16 August 2017

bulgaria

S.Tsekova

Bulgaria: Schoenherr advises Bulgarian Eagle airline on AOC Certification

Schoenherr advised Bulgarian Eagle airline, the ACMI (Aircraft, Crew, Maintenance and Insurance) carrier, recently founded by the Germania Group, on its expansion into Bulgaria. 

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press release

10 August 2017

austria

C.Herbst

Austria: Schoenherr advises French Groupe PSA on acquisition of General Motors' Austrian Opel automotive operation

Schoenherr has advised PSA Peugeot Citroën SA ("Groupe PSA") on the acquisition of General Motors' ("GM") Opel Austrian subsidiary and Opel manufacturing site in Vienna.

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press release

04 August 2017

austria

T.Kulnigg A.Popp

Austria: Schoenherr advises Tele2 on the sale of Tele2 Austria to Hutchison/Drei

Schoenherr has advised Swedish telecommunications group Tele2 on the sale of its subsidiary Tele2 Austria to mobile company Hutchison Drei Austria GmbH ("Drei") for an enterprise value of EUR 95m. The transaction is expected to occur following approval by the Austrian competition authority.

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press release

07 July 2017

slovenia

E.Škufca

Schoenherr advises Telekom Slovenije on settlement with IZI mobil

Schoenherr has advised TELEKOM SLOVENIJE, d.d. ("Telekom Slovenije") on the settlement of its contractual ties with IZI mobil d.d. ("IZI mobil"). Schoenherr provided due diligence work, transaction support and competition law advice. 

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press release

04 July 2017

austria

Schoenherr advises Roche on acquisition of mySugr

Schoenherr has advised the Roche Group ("Roche") on the acquisition of all shares of mySugr GmbH ("mySugr"). 

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press release

04 July 2017

austria

Schönherr berät Roche beim Erwerb von mySugr

Schönherr hat Roche beim Erwerb sämtlicher Anteile an dem weltweit erfolgreichen Diabetes Service-App Provider mySugr beraten.

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press release

22 June 2017

romania

M.Piuk M.Neagu

Romania: Schoenherr advises IULIUS Group and Atterbury Europe on joint venture for real estate development

Schoenherr advised IULIUS Group ("IULIUS"), the developer and operator of the IULIUS network of shopping malls, and property investor Atterbury Europe B.V. ("Atterbury Europe") on the establishment of a joint financial fund with equal participation shares for the operation of four malls, the mixed-use urban regeneration project Openville Timisoara, and the future development of similar projects in Romania.

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press release

Czech Republic/Hungary/Poland/Slovakia: Schoenherr advises AG FOODS and Coöperatief Avallon on settlement of minority shareholders' disputes and management buyout

Schoenherr advised AG FOODS Group ("AG FOODS") and Coöperatief Avallon MBO U.A. ("Coöperatief Avallon") on the settlement of minority shareholders' disputes and on a subsequent management buyout.

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newsletter

Slovakia: Disclose Your Beneficial Owner - or Forget about Doing Business with the State

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press release

Austria: Schoenherr named "Austrian Law Firm of the Year" and awarded for "European Restructuring Deal: HETA" by IFLR

Schoenherr was named "Austrian Law Firm of the Year" by renowned legal publisher International Financial Law Review ("IFLR") at the IFLR European Awards Ceremony held in London on 20 April. 

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press release

Austria: Schoenherr advises RBI on merger with RZB - one of the largest corporate reorganisations in the Austrian banking sector

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newsletter

15 March 2017

hungary

K.Hetényi

Hungary: Registration Fees for Company Establishment Abolished

In an aim to simplify state administration and support economic growth, the Hungarian Parliament adopted a new law abolishing the registration fee and the publication cost for incorporating limited liability companies ("LLC") (korlátolt felelősségű társaság), limited partnerships (betéti társaság), general partnerships (közkereseti társaság), and sole entrepreneurships (egyéni cég). The new law becomes effective on 16 March 2017.

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newsletter

14 March 2017

austria

C.Rainer T.Kulnigg

Boost your Start-Up with an Advisory Board - Points to consider

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press release

13 February 2017

austria

C.Herbst M.Lang

Austria: Schoenherr promotes m&a specialist Maximilian Lang to counsel

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press release

Slovakia/Hungary/Poland: Schoenherr strengthens its CEE capabilities with three promotions

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press release

27 January 2017

austria

M.Lagler

Austria: Schoenherr advises on the acquisition of BAI Group by SIGNA and investor group JV

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press release

10 January 2017

austria

A.Popp

Austria/CEE: Schoenherr ranked top in Austrian M&A market for the ninth year in a row

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