Schoenherr Local Partner Daniel Gera has become the firm’s new Hungarian office Managing Partner, taking over from Local Partner Kinga Hetenyi.

Schoenherr, working with Linklaters, has advised joint global coordinators and joint bookrunners BNP Paribas and Citigroup Global Markets Europe and joint bookrunner UniCredit Bank on the oversubscribed EUR 250 million issuance of convertible bonds by Voestalpine AG. Cerha Hempel advised Voestalpine.

Last Thursday the Court of Justice of the European Union ("CJEU") issued a long awaited ruling on damages resulting from a data protection infringement (C-300/21). Since the Regulation (EU) 2016/679 (General Data Protection Regulation; "GDPR") came into force on 25 May 2018, claims for damages under Art 82 GDPR due to alleged data protection violations like unlawful data processing or incompliance with the GDPR as well as in the context of data breaches or leaks have been steadily increasing. The CJEU's recent ruling clarifies essential issues but raises just as many questions.

Schoenherr has advised Seven Refractories on the EUR 93 million sale of its European, Indian, and US operations to RHI Magnesita. Brandl Talos advised Seven Refractories' founder and CEO Erik Zobec as well as other minority management shareholders. Cerha Hempel and Ulcar & Partnerji, working with Clifford Chance, Khaitan & Khaitan, Legance, Harneys, Eubelius, and Barnes & Thornburg, advised the buyer.

Schoenherr, working with Linklaters, has advised sole coordinator, documentation agent, bookrunner, and mandated lead arranger UniCredit Bank Austria, facility agent ING Bank, bookrunners and mandated lead arrangers Erste Group Bank, Raiffeisenbank International, and Commerzbank, as well as other banks on the EUR 1.7 billion revolving syndicated facility for Wiener Stadtwerke.

An in-depth look at Ursula Rath of Schoenherr covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.

Investment activity in Austria’s technology sector remained strong in 2022, despite the global economic downturn caused by the pandemic. Cerha Hempel Partner Christoph Reiter, Schoenherr Partner Thomas Kulnigg, and Dorda Managing Partner Axel Anderl talk about where the money is coming from, where it is going, and what can be expected for 2023.

Schoenherr has advised the Lindab group on its acquisition of the ventilation business of Ventilace EU. Moore Legal CZ and Eversheds Sutherland reportedly represented the sellers.

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").

On 4 May 2023 the Bulgarian Act on the protection of persons who report or make public information on breaches ("Whistleblower Protection Act" or "WPA")1 adopted earlier this year enters into force, giving effect to the provisions of Directive (EU) 2019/19372 and imposing a number of obligations on employers in both the public and private sector.

Schoenherr, working alongside Linklaters and Paul Weiss Rifkind Wharton & Garrison, has advised the Carrier Global Corporation on its acquisition of Viessmann Climate Solutions. Hengeler Mueller and, reportedly, Davis Polk & Wardwell advised Viessmann Climate Solutions.

The Romanian public and sectoral procurement legislation has recently undergone several important changes aimed at clarifying certain provisions that used to be open to interpretation and/or have given rise to disputes in practice.

DWF has advised the sole shareholder of Unitrailer Holding on the sale of the company to Vaalon Capital. Schoenherr advised Vaalon Capital.

Schoenherr has advised HS Timber Group on its sale of HS Timber Productions Sebes to Ziegler Group. BPV Grigorescu Stefanica and BPV Huegel advised the buyer.

On 20 April 2023 the European Parliament ("EP") finally approved the regulation on markets in crypto-assets ("MiCAR"). The approved final text of the MiCAR is yet to be formally endorsed by the Council, but the EP's approval means the biggest legislative hurdle towards the MiCAR entering into force has been cleared. The approval of the MiCAR follows the finalisation of the last details of the text, after a provisional agreement on the final draft compromise was reached during trilogue negotiations in June 2022.

On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.

On 23 March 2023, the Serbian government adopted Ethics Guidelines for the Development, Implementation and Use of Reliable and Responsible AI ("Guidelines"), which may be seen as yet another step in the process of harmonising Serbia's legislative framework with the European Union, following the Proposal for an AI Regulation announced by the EU Commission two years ago.

On 18 April 2023, the EU Parliament approved the provisional political plan to reduce CO2 emissions in the EU agreed on by the Council and the European Parliament on 18 December 2022. This plan is based on proposals of the "Fit for 55" package presented by the European Commission in 2021 to reduce the EU's net greenhouse gas emissions by 55 % compared to 1990 levels by 2030 and to achieve climate neutrality by 2050.