While perhaps best known for its outstanding capital markets work, this “friendly and proactive firm” also offers quality advice on banking and finance matters, particularly on the regulatory side. Capital markets whizz Edith Hlawati heads the 22-lawyer banking and corporate finance department, which includes M&A and capital markets specialists. Acting for the likes of Barclays and Deutsche Bank, the team is praised for its local expertise in international transactions and is, as one client pointed out, “superb in investment funds.” The group recently advised Investkredit on a USD52 million credit facility for the financing of a vegetable oil production plant and aided ACP Capital on a second-lien loan agreement for Austrian subsidiaries of Nordsee Group. International banks turn to Volker Glas for his advice on credit facilities. Regulatory expert Peter Knobl wins praise for his knowledge of structured banking products and securitisations, and for his dedication: “He always finds time to answer questions, even when he is busy,” clients said. Representation in Eastern Europe is another forte of this firm, with offices in Serbia, Belarus, Romania, and other CEE countries.

Peter Knobl (Band 3) / Volker Glas (Band 3)

Capital Markets (Band 1)

Acting for both issuers and underwriters, this firm “negotiates aggressively” on behalf of its clients, and its vast experience in IPO-related matters makes it an obvious choice for large Austrian companies intending to go public. “Highly distinguished” head of department Edith Hlawati leaves both clients and colleagues in awe with the quality of her IPO work. Focusing on equity, she is active in the majority of capital markets transactions taking place in Austria, and clients value her “relentless persistence and her ability to pull together a great team.” The group has worked with STRABAG and Warimpex on their respective IPOs and is also highly regarded by financial institutions acting as underwriters, such as Erste Bank and Sal. Oppenheim. JPMorgan sought the team’s advice on a point of Austrian law regarding two EUR750 million bonds issued by property company Immofinanz. Lawyers also assisted AT&S in transferring its share listings from the Frankfurt Stock Exchange to Vienna's stock exchange. “Technically excellent” Peter Knobl focuses on the debt matters, bringing his excellent skills to the table. Thomas Zivny, meanwhile, is building on his expertise and is significantly involved in a major convertible bond transaction.

Edith Hlawati (Band 1) / Peter Knobl (Band 3) / Thomas Zivny (Band U)

Competition/European Law (Band 3)

This notable corporate law firm possesses a solid competition practice with two partners and ten attorneys in the Vienna head office, and specialised competition lawyers throughout the CEE network. Indeed, the team has made a point of trying to expand into CEE countries a step or two ahead of its competitors, the Belarus office being such an example. Strengthening the competition division is Bernhard Kofler-Senoner, “a younger lawyer with a lot of knowledge” who is on the rise and shows a great deal of potential. The practice’s main area of work involves merger issues with a CEE focus, with around half of cases referred from Cerha’s M&A division. Clients include Vienna International Airport and a party involved in the Austrian lift/escalator cartel proceedings.

Bernhard Kofler-Senoner (Band 4)

Corporate / M&A (Band 2)

This firm seems to be recovering well from the 2007 loss of its real estate team, which moved to Schönherr. It has successfully maintained its strong position and continues to earn plaudits from commentators, who declare it “certainly one of the most prominent players in the Austrian legal market.” Sources commend its “fantastic levels of dedication and hard work,” along with its “superb capabilities when it comes to the most complex corporate transactions.” It is especially well regarded in the capital markets arena, making it a strong choice for major banking and finance transactions. In addition, the firm is highly active in the telecoms, aviation, and oil and gas sectors; currently, it is acting for OMV on its proposed takeover of MOL. Prior to this, it also advised on the joint venture between OMV and International Petroleum Investment Company relating to leading plastics solutions provider Borealis. Sources report that its ability to draw big-name clients can be attributed to its “outstanding support and consulting services.” Albert Birkner is widely admired for his ability to handle complex takeovers and general outbound business transactions. Sources report that “he has a constructive approach to negotiations - it’s a real pleasure to work on a deal with him.” “Thorough, commercial and highly experienced,” Clemens Hasenauer is considered a strong name in takeover law. He worked on the OMV deal, and his background in tax law makes him a real asset to clients, who appreciate his “excellent technical knowledge and exceptional understanding of the business partner’s role.” Capital markets expert Edith Hlawati is described as “an extremely strong practitioner.” She receives much praise for her work in privatisations, and sources see her as “one of the driving forces behind the firm.” Peers recognise name partner Benedikt Spiegelfeld as the leading franchising lawyer in Austria, and commend his diplomatic style, which has proven useful in many franchise-driven arbitrations. “I like the way he feels responsible for his clients - he's a real support, and not only in legal issues,” one client commented.

Albert Birkner (Band 2) / Clemens Hasenauer (Band 2) / Edith Hlawati (Band 2)
Corporate/M&A: Franchising: Benedikt Spiegelfeld (Band 1) 

Dispute Resolution (Band 2)

Praised by clients for “working quickly and accurately,” this team of 20 attorneys is highly regarded for offering “a wide range of expertise which ensures a full service.” With emphasis on commercial litigation and a substantial practice in domestic and international arbitration, this group acts for blue-chip corporations involved in high-value disputes. It recently represented the Republic of Croatia in arbitration proceedings and is currently advising the Austrian National Bank regarding Rieger Bank. Commenting on the lawyers’ accessibility, a client enthused that “they can even be reached late on Friday night and over the weekend.” Leading litigator Irene Welser is renowned amongst peers for her “firm approach and incredible persistence.” Continuing to act for Vienna International Airport in construction-related disputes, she is also increasingly recognised for her work in arbitration. Arbitration specialist Benedikt Spiegelfeld is famous amongst peers for his “ability to hold the floor,” while clients “appreciate his easy way of dealing with people.” Julian Feichtinger is praised as a “very promising litigator” whose clients involve major fashion houses and global corporations.

Dispute Resolution: Arbitration: Benedikt Spiegelfeld (Band 3) / Irene Welser (Band 3)
Dispute Resolution: Litigation: Irene Welser (Band 1) / Julian Feichtinger (Band 4)

Employment (Band 2)

The team here comprises seven lawyers who advise Austrian and international companies on employment matters including restructuring, M&A support and litigation. The lawyers work closely with the firm’s offices in CEE, and are well placed to advise on employment matters affecting these jurisdictions. Clients report a high degree of satisfaction with the quality pragmatic advice provided by the team and its excellent track record before the courts. Others are impressed by the response times, value for money and accessibility of the firm’s lawyers: “They respond to our queries immediately and are always available.” Litigation specialist Julian Feichtinger possesses a wealth of experience in representing his clients in court, and earns praise for his “outstanding negotiation and communication skills.”

Julian Feichtinger (Band 2)

General Business Law Expertise - South Eastern Europe (Band 2)

This firm has steadily grown over the past year, opening new offices in Bulgaria, Romania, Hungary and Belarus. The latter is a particularly significant development, as it marks CHSH out as the first ever Austrian law firm to be present in this jurisdiction. In addition to this, it has also formed an alliance with leading Serbian law firm Janković, Popović & Mitić, which has provided still greater capabilities in this region and added further to the firm's overall SEE presence. Accordingly, sources are quick to praise the firm's "solid knowledge of international standards and excellent understanding of the CEE legal structure - the lawyers always know how to deal with matters in the specific jurisdiction." This ongoing programme of expansion is facilitated by the firm's excellent reputation in a variety of matters, most notably in the telecoms, energy and banking and finance arenas, with M&A restructuring and contract drafting constituting a large part of its caseload. Recent work of note includes advising Bank Austria and Investkredit Bank on the financing of a wood-processing plant - one of the largest financings seen in Romania that year - and assisting Erste Bank with a range of matters, including the USD76 million financing of a logistics park in the Krasnodar region of southern Russia. As managing partner of the firm, Albert Birkner is the main contact here. 

Real Estate (Band 3)

Clients are consistently impressed by the group's youthful energy: “The lawyers are very precise, flexible and customer-oriented, and present innovative ideas to solve unusual problems.” CHSH belongs to the Lex Mundi network and maintains a visible presence in cross-border transactions. It remains general counsel to Vienna Airport, and has recently added Union Investment and Austrian energy giant OMV to its client roster. Peter Vcelouch brings litigation experience, intellectual agility and a notably affable character to this bright new team. Manfred Ton also shows great promise, with his dynamism and innovative approach proving a hit with clients.

Manfred Ton (Band U) / Peter Vcelouch (Band 4)

Tax (Band 2)

This sextet of tax lawyers earns commendation for its emphasis on reliability and teamwork: “It is our preferred firm in Austria - we'd never think of looking elsewhere,” enthused one client. The Austrian capital markets powerhouse naturally dictates the trend for its tax team, although some work is also standalone advice. Transactional and financial instrument structuring and corporate restructuring are all handled here with skill, and the firm deftly applies its knowledge to double taxation and cross-border issues. The firm has recently advised Société Générale on the Austrian tax treatment of structured financial products and advised German solar energy companies Q-Cells and Solon on high-profile mergers into Austria. Although Clemens Hasenauer is better known as a corporate specialist, his expertise is viewed by many as a great asset in his line of tax work. His New York and London experience also does him much credit. “I was very impressed,” said a client; “he was very reliable and quick, and showed an exceptional understanding of the interest of the business.” Market commentators regard Johannes Prinz as the next leader of the tax team, and he comes highly recommended by clients for his “quality and timely delivery.”

Clemens Hasenauer (Band 2) / Johannes Prinz (Band 3)

TMT: Telecommunications (Band 3)

After another busy year, this group of telecoms experts maintains its steady market profile. The firm is perhaps best known for the competition and regulatory work it undertakes on behalf of clients such as Mobilkom Austria and Telekom Austria. Its lawyers are also active in negotiating network access agreements and regularly represent clients in front of Austria’s constitutional and administrative courts. The group’s most visible member over the past twelve months has been regulatory expert Peter Lewisch.

Romania: Corporate / M&A (Band 5)

For cross-border matters, this team is able to draw on the resources of the CHSH network, which has bases in Austria, Belgium, Belarus, Bulgaria, Hungary, Serbia and Slovakia. Managing partner Radu Gilescu is praised for his many years of experience and substantial depth of knowledge. Clients particularly appreciate his “ability to co-ordinate the team with military efficiency” and his “pleasant and personable manner.” Vlad Cîrjan heads the firm’s banking department and also has a significant M&A practice. Sources describe him as a “bright young lawyer,” emphasising his “sharp and focused legal mind.”

Radu Gilescu (Band 4) / Vlad Cîrjan (Band U)

Slovakia: Corporate / M&A (Band 4)

This rapidly expanding Austrian outfit handles the full range of corporate and commercial issues, and is highly regarded for both its transactional and regulatory capabilities; it frequently handles cross-border deals. Clients appreciate the fast response times and international service levels here, highlighting the team’s “strong customer orientation, flexibility and bullet-proof advice.” Ladislav Poloma is lauded for his “hard-working nature, solution-driven approach and technical skill.” Clients commend Karol Šiška's broad experience and good local connections, noting that “he is always dedicated to our needs.”

Karol Šiška (Band 3) / Ladislav Poloma (Band 3)

Slovakia: Employment

Ivana Šedová (Band U)
 

Source:
Chambers & Partners, Chambers Europe - Europe's Leading Lawyers for Business, 2009 Edition