Growth in the construction industry in Austria remains subdued but the outlook for the year ahead is positive as increased investment in residential construction and infrastructure is expected. In this chapter we single out nine leading lawyers.
In 2013 the Austrian Parliament passed a bill amending the competition law regulations. These strengthened private enforcement and the powers of the Federal Competition Agency. Since then, sources have noted that the authority has focused in particular on vertical restraints. With the bulk of these cases being finalised, practitioners are unsure as to what the authority will target next. In this chapter, we select 25 lawyers and four economists who are recognised as leaders in the market.
Austria has one stock exchange, the Vienna Stock Exchange, and although performance of the ATX dropped by 15.18 per cent as compared to year end 2013, 2014 also saw the successful public offering of FACC AG and a record year in terms of new corporate bond listings. For the 11 leading lawyers listed below it was an eventful year.
In recent years Austrian financial criminal law has been considerably tightened. The Public Prosecutor’s Office against White-Collar Crime and Corruption, which was established in September 2011, is in charge of any investigation concerning a criminal charge, and several prominent cases have been reported of late. We single out eight leading lawyers who are skilled at defending individuals and companies in business crime cases.
Non-performing loan transactions are becoming an increasingly active segment of the market. Recent transactions include liquidating non-performing assets of the former Hypo Alpe-Adria Bank in order to preserve as much value as possible. Hedge funds are also becoming more active in the market financing buyouts in place of the banks. We list 15 lawyers who possess the required skills and expertise to guide clients through complex and sensitive deals.
Compliance and white-collar crime continue to be growth areas across Europe. In Austria, sources note that experts and forensic accountants are becoming more heavily engaged in legal proceedings as more sophisticated cross-border tracing is required. The 5th Global Focal Point Conference on Asset Recovery was held in Vienna in September 2014 and it is anticipated that transnational investigations will continue to rise. We list three lawyers and two experts highly recommended for their expertise in this field.
2015 marks the Vienna International Arbitral Centre’s 40th anniversary. Arbitration law in Austria continues to evolve and recent years have seen a considerable increase in multiparty proceedings. Disputes surrounding whether and to what extent the consumer protection clause of the 2006 Arbitration Act applies in disputes between shareholders rages on, despite the Supreme Court’s ruling in April 2014. We single out 25 lawyers in this chapter.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.