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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:

press release

Austria: Schoenherr advises Caverion Österreich GmbH on acquisition of Climacraft's refrigeration and air conditioning business

Schoenherr advised Caverion Österreich GmbH, a provider of technical facility services, on its acquisition of the refrigeration and air conditioning business of Climacraft GmbH, a leading company in the field of refrigeration and air conditioning technology, through an asset deal.

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press release

21 March 2024

serbia

Serbia: Schoenherr advises Fifth Quarter Ventures on strategic investment in Cosmic

Moravčević Vojnović and partners in cooperation with Schoenherr advised Fifth Quarter Ventures, an early-stage venture capital fund, on its recent investment in Cosmic. This innovative start-up is at the forefront of developing a revolutionary platform for self-powered homes, aiming to redefine the construction of carbon-neutral, healthy and efficient homes in a fast and cost-effective manner.

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press release

Austria: Schoenherr advises swisspor Holding AG on its 100 % acquisition of Creaton Polska sp. z o.o., Creaton South East Europe Kft and Creaton Steildach GmbH

Schoenherr advised swisspor Holding AG on its acquisition of 100 % of the shares in Creaton Polska sp. z o.o., Creaton South East Europe Kft and Creaton Steildach GmbH, together forming the Creaton Eastern Business, from its former indirect shareholder, Terreal Holding S.A.S. In an interrelated transaction, Terreal's operations in France, Italy, Spain and the USA as well as Creaton's business in Germany and the Benelux countries were sold to Wienerberger AG, an international manufacturer of building materials and infrastructure solutions.

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press release

Austria/Czech Republic/Poland: Schoenherr advises Hartree Partners on cross-border energy joint venture with Botres Group

Schoenherr advised Hartree Partners Ltd., a global energy and commodities firm, on its acquisition of 50 % of the shares in Botres Group, a key supplier of ultra-modern industrial biogas plants and biorefineries in Austria, the Czech Republic, Poland, Italy and Spain, and the formation of a cross-border equity joint venture in the energy sector.

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publication

The International Comparative Legal Guide to: Mergers & Acquisitions 2024

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media coverage

What you need to consider when contributing assets to a joint venture

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press release

Austria: Schoenherr advises Erste Group on 300m share buyback and capital reduction

Schoenherr advised Erste Group Bank AG ("Erste Group") on its EUR 300m share buyback followed by a cancellation of treasury shares and the reduction of its share capital.

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press release

15 February 2024

poland

S.Okoń

Poland: Schoenherr advises Sunex S.A. on sale of shares by its shareholder through ABB process

Schoenherr advised Sunex S.A., a provider of renewable energy solutions, on an Accelerated Bookbuilding (ABB) process, including the sale of 2m shares which equals 9.86 % of the company's share capital. This transaction earmarks for acquisitions within the German market and the expansion of production infrastructure in Racibórz.

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press release

Poland: Schoenherr advises Byggfakta Group on acquisition of Marketplanet

Schoenherr advised Byggfakta Group, a leading digital platform operator in the construction industry, on its acquisition of Marketplanet, a procurement platform, from the Avallon MBO fund.

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press release

Romania/Austria/Hungary: Schoenherr advises TeraPlast on acquisition of Wolfgang Freiler Group

Schoenherr advised TeraPlast Group on its acquisition of the Wolfgang Freiler Group from the Austrian Uhl family. With this major transaction, the Romanian entrepreneurial group TeraPlast will establish its Central and Western European footprint by taking over production facilities in Hungary as well as a dynamic distribution division in Hungary, the Czech Republic, Austria, Germany and France.

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press release

Poland: Schoenherr advises Avallon on sale of Wosana S.A. to DyDo Group

Schoenherr advised Avallon MBO, a private equity fund in Central and Eastern Europe, on the sale of Wosana S.A., a beverage producer, to DyDo Group Holdings, Inc., a Japanese industry investor.

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roadmap

Trade creditor liability risks in arrangements with distressed companies in Austria

In our practice, we have found that the most common reason for distressed companies to initiate reorganisation measures is a severe liquidity squeeze.

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roadmap

To buy or not to buy a going concern? Alternative M&A transaction structuring in Bulgaria

Unsurprisingly, the most common M&A transaction structures in Bulgaria are share deals, in which the target company is acquired with all its assets and liabilities, and asset deals, in which individual assets are acquired. But these structures may not always serve the parties' commercial needs. A share deal may not be possible if the buyer's due diligence revealed a title issue with the shares, a minority shareholder does not consent to a 100 % sale, or the company may have a separate line of business that the seller wishes to retain. A pure asset deal may be impractical if the buyer aims to acquire a business (e.g. a shopping mall as an operational asset) and not an individual asset (e.g. the shopping mall as a building), or where the transfer of contracts and certain relevant liabilities that form part of the business requires third-party consents.

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roadmap

Virtual shareholder meetings: new legal basis and requirements

So far, Austrian corporate law has only governed shareholder meetings conducted in person. In response to COVID-19, the Austrian legislator gave stock corporations and limited liability companies the option to conduct virtual shareholder meetings. After those provisions expired at the end of June 2023, the legislator decided to give virtual shareholder meetings a permanent legal basis.

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roadmap

Multiple voting: a tool to attract investors?

One-share one-vote has long been the European Commission's mantra in establishing a level playing field for investors. The conventional wisdom was that a shareholder's influence should be aligned with their economic investment in and exposure to the company. But the success of the "FANG" stocks and the US governance model of giving ultimate control to founders while also selling shares and bringing in new investors has led to a rethink. In response, the European Commission recently proposed a draft directive on the issuance of shares with multiple voting rights in an IPO.

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roadmap

Corporate sustainability in Austria: navigating new reporting obligations

The Corporate Sustainability Reporting Directive (CSRD) marks a new chapter in transparency requirements for European companies. From next year, the number of companies required to report on their sustainability performance will gradually expand. This reporting obligation extends beyond sustainability matters, however, as it covers a wide variety of ESG topics.

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roadmap

More than an ID: the European Digital Identity Wallet

Electronic identity ("eID") and electronic trusted services ("eTS") are currently regulated at the EU level in the eIDAS Regulation of 23 July 2014. A decade is an eternity in the world of new technologies and the eIDAS Regulation has become outdated and unsatisfactory in many areas. One of its biggest failings is in the true interoperability and cross-border recognition of national eID schemes.

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roadmap

Share everything, but safely? How to protect data in a due diligence process

In the fast-paced world of mergers and acquisitions, due diligence is a critical step in evaluating the legal, financial and strategic aspects of a potential deal. But as personal data becomes increasingly valuable, the data protection aspects of due diligence is coming under the spotlight. Companies must navigate a complex landscape to ensure that personal data is safeguarded.

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roadmap

Hungarian state subsidies: an impediment to M&A?

To stimulate the economy, the Hungarian government has awarded state subsidies to many new investments, including greenfield investments and capacity expansions. This can only have positive effects for company buyers, right? Or is more caution warranted? How is the potential acquisition of a Hungarian target company that has received a state subsidy impacted?

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roadmap

A ground-breaking ruling in the Xella Hungary case

In a recent judgment in Case C-106/22, the Court of Justice of the European Union (CJEU) ruled that under one of Hungary's foreign direct investment screening regimes the objective of securing a regional supply of gravel, sand and clay for the construction industry cannot justify restrictions on freedom of establishment. The CJEU declared that this objective is not a fundamental social interest that could justify such restrictions on the grounds of public policy or public security.

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roadmap

Preparing for the Corporate Sustainability Due Diligence Directive

In the anticipation of the Corporate Sustainability Due Diligence Directive and the greater emphasis buyers will put on due diligence of processes and evaluation of risks, sellers and targets should take a proactive approach in demonstrating their readiness to deal with the new ESG requirements.

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roadmap

Streamlining registration by empowering notaries alongside the commercial courts

In retrospect, 2023 has been a breakthrough year for Slovak corporate law. Only a few months since the adoption of new M&A legislation and the introduction of simplified incorporation for companies and already another major change has been incorporated into Slovak law. The courts are no longer the sole registration authorities for the incorporation of data to the Slovak Commercial Register. Notaries in particular have had their competences extended.

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roadmap

The VCC: a new company form launched in Bulgaria

The eagerly awaited Variable Capital Company (VCC) was introduced on 1 August 2023 with amendments to the Bulgarian Commercial Act. It blends the limited liability company (LLC) and joint stock company (JSC), and somewhat resembles the UK's open-ended investment company (OEIC). Like the OEIC, the VCC can issue shares at any time and its capital may vary. But as it is not a regulated investment fund, the VCC is not regulated or supervised by the financial supervision authorities.

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roadmap

Doing business in Romania: market entry challenges

Romania still offers many opportunities for investors looking to enter the European market or to develop their operations in the region. The country's shifting corporate and tax laws do not seem to have deterred investors and it continues to attract plenty of foreign direct investment each year.

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roadmap

Austria's new FlexCo: a gamechanger for company founders in 2024?

To address some issues voiced by practitioners in relation to the foundation of limited liability companies (GmbH) in Austria, the Austrian legislator proposed a new corporate form, the "Flexible Company" (FlexCo), offering some promising solutions for start-ups. Established businesses can also make use of this new corporate form. It is currently envisaged that FlexCos can officially be established from 1 January 2024.

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press release

Austria: Schoenherr advises ATU on sale of Austrian business to Lucky Car

Schoenherr advised the German company A.T.U Auto-Teile-Unger Handels GmbH & Co. KG (ATU) on the sale of its Austrian business to Lucky-Car Franchise & Beteiligungs GmbH (Lucky Car).

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media coverage

31 January 2024

austria

T.Kulnigg A.Lengger

When the new FlexCo makes sense

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press release

22 January 2024

hungary

L.Krüpl V.Magyar

Hungary: Schoenherr advises OTP Real Estate Investment Fund on complex BTS-transaction with Rossmann

Schoenherr advised OTP Real Estate Investment Fund, a Hungarian-based real estate fund, on a complex BTS-transaction involving the purchase of a land plot in Hungary by OTP Real Estate Investment Fund, as well as the conclusion of a long-term lease agreement with Rossmann as tenant, and a development agreement with Panattoni as developer.

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publication

08 January 2024

austria

R.Perner G.Ebner

The FlexCo: a New Corporate Form in Austria

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press release

Romania: Schoenherr advises Renovatio in benchmark green projects partnership with OMV Petrom

Schoenherr Romania advised Renovatio, an infrastructure asset owner, in a benchmark transaction with OMV Petrom, the largest integrated energy company in Southeast Europe, concerning green assets.

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press release

Romania: Schoenherr advises Mitiska REIM's Romanian partner in the sale of 25 retail parks to M Core

Schoenherr advised Soundbox Investment SRL and its shareholder Clemens Petschnikar in a transaction in which Soundbox Investment and Mitiska REIM sold 25 retail parks to LCP Group, part of M Core. With a value of EUR 219m, this is one of the largest retail real estate transactions in Romania.

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press release

Austria: Schoenherr advises EHL on sale of EHL Immobilien Management GmbH to IMV

Schoenherr advised EHL Immobilien GmbH on the sale of the entire share in EHL Immobilien Management GmbH to PMV Holding GmbH, a member of the IMV Immobilien Management Group.

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press release

Poland: Schoenherr advises Joachim Exner, insolvency administrator of Dr. Schneider's Group, on EUR 118.3m sale of its business to Samvardhana Motherson Group

Schoenherr advised Joachim Exner, the insolvency administrator of Dr. Schneider's Group, a German key supplier for electronic components and polymer systems, on the Polish aspects of the sale of its business to Samvardhana Motherson Group, a wholly owned subsidiary of Samvardhana Motherson International Limited, for EUR 118.3m.

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press release

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.

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press release

Bulgaria: Schoenherr advises Lufthansa on sale of its stake in Silver Wings Bulgaria

Schoenherr has advised Lufthansa on the sale of its stake in Silver Wings Bulgaria OOD, a joint venture catering business in Bulgaria, to Truffle UK Bidco Three Limited, an active private limited company in the UK.

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press release

06 November 2023

serbia

V.Kurtić S.Petronijević Z.Šoljaga

Serbia: Schoenherr advises CWP Europe on partnership with PowerChina Resources for 300 MW Vetrozelena wind farm

Moravčević Vojnović and partners in cooperation with Schoenherr advised CWP Europe, a leading renewable energy project developer in Southeast Europe, on their investment agreement and shareholders' agreement with PowerChina Resources, an investment company, for the Vetrozelena wind farm in Pancevo, Serbia, with a planned installed capacity of 300 MW and 48 wind generators.

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newsletter

20 October 2023

romania

A.Șmahon M.Popescu

Romania: Who (else) can claim the nullity of a share transfer?

Can one or more of a company's shareholders claim that a transfer of shares to third parties by other shareholders is null, even if the claimants were not interested in acquiring those shares? And when faced with such a claim, would Romanian courts rule in favour of the claimant? A recent court ruling has answered both questions with a resounding "yes", opening new horizons in M&A-related matters in Romania.

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media coverage

Was bringt die FlexCo?

Podcast | Linde Verlag

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press release

27 September 2023

serbia

L.Lopičić P.Erić Z.Šoljaga M.Vlajković J.Arsić A.Zorić M.Petreska

Serbia: Schoenherr advises shareholders of Maxbet on 51 % stake sale to Flutter for EUR 141m

Moravčević Vojnović and partners in cooperation with Schoenherr advised shareholders of Maxbet, Serbia’s #2 omni-channel sports betting and gaming operator, on the sale of 51 % stake to Flutter Entertainment plc ("Flutter"), a global leader in sports betting, gaming, and entertainment, for a cash consideration of EUR 141m.

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press release

Austria: Schoenherr advised Peakmedia digital signage GmbH on exit to ZetaDisplay AB

Schoenherr advised the sellers of Austrian digital signage integrator Peakmedia on Peakmedia's acquisition by ZetaDisplay AB, a Swedish service and software company.

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newsletter

12 September 2023

moldova

A.Guzun

Electronic notarisation in Moldova

On 26 May 2023 the Parliament of Moldova passed Law No.°126, which among other things implements certain novelties to the Moldovan Law on Notarial Procedure. Those relating to electronic notarisation will enter into force when the technical conditions referred to in the law are in place, but not later than 23 June 2026.

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press release

Austria: Schoenherr advises Process Sensing Technologies on acquisition of Sensore Electronic GmbH

Schoenherr advised Process Sensing Technologies ("PST") (UK), a leading provider of measurement and monitoring solutions for process-critical applications, on the acquisition of Sensore Electronic GmbH ("Sensore").

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event

03 October 2023

romania

M.Piuk

speaker engagement | Business Location Austria

3 October 2023 | Advantage Austria, Bucharest

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press release

Austria: 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").

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press release

Romania: Schoenherr advises Enery on signing long-term virtual power purchase agreement for renewable energy with Ursus Breweries

Schoenherr advised Enery on signing a multi-year virtual power purchase agreement (VPPA) with Ursus Breweries, part of Asahi Europe & International, to provide green energy and guarantees of origin for the production at their brewing facilities in Romania.

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publication

Das neue Virtuelle Gesellschafterversammlungen-Gesetz – VirtGesG

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publication

18 July 2023

austria

N.Stepan

OGH 4 Ob 217/21x: verstärkter Senat zu laesio enormis bei Optionsrechten

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publication

Das neue EU-Umgründungsgesetz

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press release

Austria: Schoenherr advises HS Timber on establishing joint venture with Hat Trick SRL

Schoenherr advised Austrian HS Timber Industrieinvest GmbH on establishing a joint venture with the Belgian investment management company Hat Trick SRL.

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newsletter

A new addition to the Polish legal system: the family foundation

Starting on 22 May 2023, it will be possible to establish and register family foundations in Poland. The Polish legal system will thus be expanded by a new institution that allows assets to be accumulated and managed, and profits to be distributed to beneficiaries. The legislature wished to provide the means for family-owned businesses and their owners to engage in intergenerational wealth management and to grow their wealth over time while protecting it from dispersal to unrelated entities and persons. Hence, family foundations may serve as a means to retain and multiply a family's wealth, independent of inheritance law.

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newsletter

05 May 2023

austria

N.Stepan

Austria: New Federal Electronic Announcement and Information Platform

The mandatory fee-based publication in the print medium of the Official Journal of the Wiener Zeitung (Amtsblatt der Wiener Zeitung) ("Official Journal") is going to be replaced by free-of-charge publication on the new Electronic Announcement and Information Platform of the Federation ("EVI").

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press release

Austria: Schoenherr advises sell-side in RHI Magnesita's acquisition of Seven Refractories

Schoenherr advised Seven Refractories GmbH on the sale of its European, Indian and US operations to RHI Magnesita for a cash consideration of approximately EUR 93m. Closing is expected in the second half of 2023 and is subject to the fulfilment of customary regulatory approvals.

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press release

Austria/Romania: Schoenherr advises HS Timber Group on sale of HS Timber Productions Sebeș SRL to Ziegler Group

Schoenherr advised HS Timber Group on its sale of HS Timber Productions Sebeș SRL as part of a share sale. With more than 600 employees HS Timber Productions Sebeș SRL operates a sawmill and other industrial wood processing activities at the Sebeș site.

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press release

14 April 2023

serbia

M.Vojnović V.Kurtić D.Stevanović

Serbia: Schoenherr advises on acquisition of Expobank A.D. Belgrade

Moravčević Vojnović and partners in cooperation with Schoenherr advised the owner of Adriatic Bank A.D. Podgorica on the acquisition of 100 % of the shares in Expobank A.D. Belgrade.

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press release

Romania/Moldova: Schoenherr advises Banca Comercială Română on sale of Chișinău subsidiary

Schoenherr advised Banca Comercială Română (BCR) on the full sale of its shares in its Chișinău subsidiary (BCR Chișinău) to Banca Comercială Victoriabank.

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publication

The International Comparative Legal Guide to: Mergers & Acquisitions 2023

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media coverage

02 March 2023

austria

M.Marschall

Joint Ventures: Ein Exit aus Joint Ventures will geplant sein

Wer ein gemeinsames Unternehmen gründet, sollte Beschränkungen von Anteilsübertragungen und Exit-Szenarien berücksichtigen.

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press release

21 February 2023

austria

C.Herbst S.Schulz

Austria: Schoenherr advises América Móvil on extension of its partnership with OBAG as to Telekom Austria including on a spin off by Telekom Austria of its tower business

Schoenherr advised América Móvil as the controlling shareholder of Vienna Stock Exchange listed Telekom Austria on the terms of a ten-year extension of its shareholder agreement with Oesterreichische Beteiligungs AG (OBAG) and on related measures.

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press release

Romania: Schoenherr advises Eurobank on sale of Brico Depot Iasi to Radacini Group

Schoenherr Romania advised Eurobank S.A. Greece ("Eurobank") on the sale of a real estate asset in Iasi, Romania. The commercial space, which has a sales area of approx. 8,000 m2 and houses a Brico Depot do-it-yourself ("DIY") store, was sold to the real estate division of Radacini Group.

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roadmap

Relevance of ESG criteria for management decisions

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roadmap

Upcoming legal requirements to integrate ESG risks into diligent risk management

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roadmap

New holding law in Poland

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roadmap

Navigating the rough waters of corporate digitalisation in Montenegro

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roadmap

Greenwashing class action risk in light of upcoming Slovak laws

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roadmap

2023

G.Kulcsar

Contractual risk allocation in times of uncertainty

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roadmap

Digital tools that will improve the operation and security of Polish companies

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media coverage

18 January 2023

austria

M.Marschall J.Frank

Joint Ventures: Wenn Zusammenschlüsse dem Kartellrecht widersprechen

Vor der Gründung eines Joint Ventures sollte geprüft werden, ob der Zusammenschluss erlaubt ist. Das Kartellrecht sollte bereits in einer Planungsphase berücksichtigt werden.

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newsletter

30 December 2022

romania

M.Popescu A.Șmahon

Romania: Changes to the Companies Law

Recent years have brought significant progress in terms of formalities for the incorporation of legal entities that carry out economic activities.

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media coverage

28 December 2022

austria

M.Marschall

Joint Ventures: Wie man festgefahrene Konflikte löst

Partner eines gemeinsamen Unternehmens sollten sich schon im Vorfeld darüber einigen, wie mögliche Konflikte gelöst werden sollen

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publication

23 December 2022

czech republic

Schoenherr Czech Republic

CZ: Schoenherr Journal Edition 13

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

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newsletter

06 December 2022

poland

K.Pawlak

What's new in Polish corporate law?

The Polish Commercial Companies Code (the "CCC") contains new:

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newsletter

24 November 2022

austria

M.Marschall

ECJ ruling ends unlimited public access to UBO Register

Under Article 30 (5) (c) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (AML Directive 2015), Member States are obliged to ensure that information on beneficial ownership is accessible by any person or organisation that can demonstrate a legitimate interest in obtaining it.

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event

06 December 2022

romania

M.Neagu

Mirsanu Dealmakers Summit 2022

6 December 2022 | Sheraton Hotel Bucharest

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newsletter

Bulgaria paves way for innovative businesses with new start-up visa

Country welcomes non-EU investors to boost local start-up ecosystem

After Decree No 318 of 7 October 2022 adopting the Ordinance on the conditions and procedure for issuing, extending and revoking a certificate for a high-tech and/or innovative project (the "Ordinance") was promulgated in issue 82 of the State Gazette of 14 October 2022, Bulgaria joins the almost half of EU countries that issue "start-up visas".

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media coverage

ESG – A Gentle Reminder for a Corporate Strategy Update

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publication

10 October 2022

austria

T.Wenger G.Ebner

Sorgfalt der Geschäftsleiter bezüglich digitaler Vermögenswerte

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newsletter

New rules in Czech UBO law as of 1 October 2022. Immediate threat of sanctions

The Czech Act on Ultimate Beneficial Owners1 (the "UBO Act") has been effective since 1 June 2021. Not even a year and a half later, Czech lawmakers introduced an amendment to the UBO Act2 (the "Amendment") after significant pressure from the European Commission to comply with the Fifth Anti-Money Laundering Directive3 ("AMLD5").

 

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media coverage

Nachfolge mit Stolpersteinen: Was Unternehmen bei der Erbfolge beachten sollten

Beim Generationenwechsel in Familienunternehmen können gewünschte gesellschaftsrechtliche Lösungen mit dem Erbrecht in Konflikt geraten

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publication

14 September 2022

austria

R.Perner

The International Comparative Legal Guide: Corporate Governance 2022

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publication

Das Phänomen von SPACs (Teil II)

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press release

11 August 2022

austria

CEE team led by C. Moser

Austria/CEE: Schoenherr advises on the sale of significant parts of Kontron Group’s IT services business in eleven countries for EUR 400m

Schoenherr advised stock exchange listed technology group Kontron AG (formerly S&T AG) on the sale of significant parts of Kontron Group’s IT services business to VINCI Energies S.A. in the course of a competitive auction process for a purchase price of approx. EUR 400m.

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newsletter

05 August 2022

romania

S.Lazăr

Romania: Am I saying anything when abstaining from voting as a shareholder?

Historically speaking, uncertainty always existed in Romania regarding the meaning of abstention in general meetings of shareholders. What is at stake is the means to calculate the majority required for the adoption of resolutions of ordinary general shareholders meetings, in which case the Romanian Companies Law (Law no. 31/1990) provides that resolutions are adopted by the "majority of expressed votes".

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press release

Austria: Schoenherr advises Red Bull on joint venture with Marcel Hirscher and Dominic Tritscher (VAN DEER-Red Bull Sports) and on acquisition of Augment Ski GmbH

Schoenherr advised Red Bull GmbH on the establishment of a joint venture with the founding shareholders of VAN DEER-Red Bull Sports Equipment GmbH, Marcel Hirscher and Dominic Tritscher, and on the subsequent acquisition of Augment Ski GmbH by VAN DEER-Red Bull Sports Equipment GmbH.

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press release

Schönherr berät ARA bei Kooperation für Errichtung einer Sortieranlage mit Der Grüne Punkt und Bernegger zur Erreichung der EU-Recyclingziele

Schönherr hat die Altstoff Recycling Austria AG (ARA) bei der Verhandlung und dem Abschluss eines Kooperationsvertrags für die Errichtung einer neuen leistungsstarken Hightech-Sortieranlage in Oberösterreich mit DSD - Duales System Deutschland (Der Grüne Punkt) und Bernegger GmbH beraten.

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press release

Austria: Schoenherr advises ARA on cooperation agreement for construction of sorting plant with Der Grüne Punkt and Bernegger GmbH

Schoenherr advised Altstoff Recycling Austria AG (ARA) on the negotiation and conclusion of a cooperation agreement for the construction of a new high-performance high-tech sorting plant in Upper Austria with DSD - Duales System Deutschland (Der Grüne Punkt) and Bernegger GmbH.

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publication

19 July 2022

austria

R.Perner

Chambers Corporate Governance Guide 2022

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publication

03 July 2022

czech republic

Schoenherr Czech Republic

CZ: Schoenherr Journal Edition 12

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

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publication

Das Phänomen SPACs (Teil I)

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press release

Austria: Schoenherr advises Red Bull on joint venture with Teletest consortium

Schoenherr advised Red Bull GmbH on the establishment of a joint venture with Arbeitsgemeinschaft Teletest ("AGTT").

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press release

Austria: Schoenherr advises HS Timber on the acquisition of Luvian Saha (Finland)

Schoenherr advised Austrian HS Timber Group on the acquisition of Luvian Saha Oy, one of the largest private sawmills in Finland, from private owners.

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publication

04 May 2022

M.Fasching

The Austrian Civil Code in the Digital World: Reflections on the Legal Classification of NFTs

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press release

Austria: 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.

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publication

08 April 2022

austria

Limiteds in Österreich nach dem Brexit

Keine Rechtsfähigkeit, Haftungsfalle und noch vieles mehr

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publication

21 March 2022

austria

Verbot der Ausnützung von Geschäftschancen der Gesellschaft

more
publication

The International Comparative Legal Guide to: Mergers & Acquisitions 2022

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press release

03 March 2022

austria

S.Hödl S.Schulz

Austria: Schoenherr advises IMMOFINANZ supervisory board in bidding contest between CPI Property Group and S IMMO

Schoenherr advised the supervisory board of Austrian IMMOFINANZ AG in connection with the two competing takeover bids by CPI Property Group SA and S IMMO AG.

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publication

Rechtsträgerexistenz der übertragenden Gesellschaft im Fall von sequenzierten Umgründungen (Mehrfachumgründungen) auf einen gemeinsamen Stichtag

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press release

Austria: Schoenherr advises Herba Chemosan board on management buy-out

Schoenherr has advised the board of the Austrian pharmaceutical wholesaler Herba Chemosan Apotheker-AG (Herba Chemosan) on the recent management buy-out (MBO).

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newsletter

26 January 2022

moldova

V.Iurkovski

Moldova: Digitalisation has made it easier to establish, operate and sell companies

Through its 11 November 2021 law ("Law 175/2021"), the Moldovan Parliament passed certain amendments to existing legislation with the goal of digitalising the national economy. As a result, the norms implemented have made it simpler to establish, operate and sell companies in Moldova.

Law 175/2021 entered into force on 10 January 2022.

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press release

20 January 2022

austria

S.Hödl R.Perner

Austria/CEE: Schoenherr recognised as leading Austrian M&A Legal Advisor for 2021 by Mergermarket

Schoenherr has, yet again, been named top M&A legal advisor in the Austrian market by Mergermarket. For over a decade, Schoenherr has been leading the Austrian Mergermarket M&A league tables.

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event

20 January 2022

poland

Doing business in Poland – How to start (step by step) or relocate your business to Poland

Webinar | 20.01.2022 | 14:00 Poland; 15:00 Ukraine; 16:00 Belarus

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roadmap

Austria: Generation change and corporate succession

According to a recent study, one out of four SMEs will be handed over within the next five years, meaning some 79,400 corporate succession challenges in Austria alone.  

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roadmap

What executives should remember (not only) during a pandemic

In Slovakia, the exercise of powers by company executives like managing directors or board members involves a relatively wide range of legal obligations and liabilities.

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roadmap

New game in town: dual class voting shares

Although dual class voting structures have been around since the early 20th century, opinions remain divided on their merits.

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roadmap

Decision-making of the executive director vs. due managerial care

The key duty of a company's executive director is the duty of due managerial care.

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roadmap

Joint venture exit clauses: from gamble to control

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roadmap

The phenomenon of special purpose acquisition companies

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roadmap

Strict restrictions on borrowing FX loans

A protracted economic depression and COVID-19 restrictions have caused financial pressure in many local and regional companies operating in Turkey.

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roadmap

2022

serbia

V.Kurtić J.Rubežić

Cross-border mergers in Serbia: clash of laws postponed?

The Serbian Companies Act defines cross-border mergers as mergers of at least one commercial entity registered in Serbia and at least one commercial entity from EU Member States or states signatory to the EEA Agreement.

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press release

Austria: Schoenherr advises PALFINGER AG on reversal of cross-shareholding with Sany

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publication

15 December 2021

austria

M.Marschall

Art und Modus der Gläubigersicherstellung bei Aktiengesellschaften in der Abwicklung

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publication

CZ: Schoenherr Journal Edition 11

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

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blog

10 December 2021

romania

D.Iàcona

The profile of Italian investors in Romania's second wave of renewable energy investment has changed

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press release

Austria: Schoenherr advises Liechtenstein Group on EUR 40m investment in Tesvolt

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press release

Austria: Schoenherr advises P&I on the acquisition of 100% of shares in VRZ

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publication

15 September 2021

austria

R.Perner

The International Comparative Legal Guide to: Corporate Governance 2021

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press release

Romania: Schoenherr advises Nofar Energy on the acquisition of a 153 MW photovoltaic park under development in Romania

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publication

07 July 2021

austria

R.Perner

Chambers Corporate Governance Guide 2021

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publication

to the point: Gesellschafts- und Unternehmensrecht | Q2 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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newsletter

Stricter liability of statutory body members (and others) in case of company insolvency

The amendment to the Business Corporations Act effective from 1 January of this year (the "Amendment") brings, among other things, a significant change in the liability of members of a statutory body, which will affect the current topic of insolvency.

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newsletter

14 June 2021

turkey

D.Kara

New obligation of shareholders holding bearer shares in Turkish companies

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publication

Genussscheine bei Abschluss eines Gewinnabführungsvertrages

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newsletter

Romania: What should entrepreneurs know in order to attract private equity or venture capital investments?

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press release

Austria: Schoenherr advises leading energy service providers on e-mobility joint venture

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publication

18 March 2021

austria

G.Ebner

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

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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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

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

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

15 December 2020

austria

G.Ebner S.Holub

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

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

16 September 2020

austria

G.Ebner S.Holub

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

27 August 2020

croatia

V.Mandarić*

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

22 July 2020

austria

R.Perner

Chambers Corporate Governance Guide 2020

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newsletter

20 July 2020

romania

Romania eases procedure for setting up new companies

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publication

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

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"

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newsletter

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

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publication

AktG Praxiskommentar

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media coverage

Am I a shareholder or not?

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media coverage

Does endorsement have a service function in relation to share transfer agreements?

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publication

Wer kann bei Bilanzfälschung durch Vorstandsmitglieder zur Verantwortung gezogen werden?

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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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media coverage

Protecting trade secrets during COVID-19: mission possible?

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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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media coverage

How to immunise M&A transactions against the COVID-19 pandemic

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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.

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newsletter

22 March 2020

austria

P.Madl

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

19 March 2020

romania

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

11 March 2020

austria

R.Perner G.Ebner

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

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

G.Ebner

Judicial authorisation of transfer of shares with restricted transferability | Austria

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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.Marschall

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

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

Limitation of liability of elected corporate body members

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publication

25 October 2019

austria

R.Perner

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

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

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

12 July 2019

austria

R.Perner

Chambers Corporate Governance Guide 2019

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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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