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Binder Grösswang Rechtsanwälte GmbH | Austria | 19 Mar 2021

The Real Estate Law Review: Austria

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Binder Grösswang Rechtsanwälte GmbH | Austria | 17 Aug 2020

The Real Estate M&A and Private Equity Review: Austria

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Binder Grösswang Rechtsanwälte GmbH | Austria | 30 Jul 2019

Austrian Supreme Court allows sale of insolvency avoidance claims in recent landmark ruling - new dynamics ahead!

Under Austrian law the prevailing view and by and large unquestioned sentiment for decades had been that insolvency avoidance claims must be asserted…
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Binder Grösswang Rechtsanwälte GmbH | Austria | 18 Sep 2018

Mind your shareholder rights! Austrian Supreme Court decision on avoidance law tightens rules for (minority) shareholders

In a very recent avoidance law decision the Austrian Supreme Court held that shareholders of Austrian limited liability companies, even if…
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Binder Grösswang Rechtsanwälte GmbH | Austria | 28 Mar 2014

Formal requirements for suretyships and guarantees

The Supreme Court recently settled the question of whether a hand-signed faxed declaration of suretyship is valid. Although the prevailing doctrine would suggest its validity, the issue was still in dispute. In general, suretyships under Austrian law must be given in written form. However, questions have arisen as to whether a signed declaration of suretyship will fulfil the formal......
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Binder Grösswang Rechtsanwälte GmbH | Austria | 16 Oct 2013

Enhanced disclosure for stake building in public M&A transactions

As a result of implementing the EU Transparency Directive, the Austrian legislature introduced enhanced disclosure rules for significant shareholdings in stock exchange-listed companies. One main purpose of the enhanced disclosure rules is to reduce the possibilities for hidden stake building in public M&A transactions. However, the new rules leave significant room for interpretation.
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Binder Grösswang Rechtsanwälte GmbH | Austria | 13 Sep 2013

Constitutional Court finds conflict of interest provisions legal

The Constitutional Court was recently asked to review the legality of the conflict of interest provisions stated in the Securities Supervision Act, as well as in a regulation issued thereto by the Financial Markets Authority (FMA). The managing directors of a bank had been fined by the FMA for not having properly implemented effective measures to prevent conflicts of interest.
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Binder Grösswang Rechtsanwälte GmbH | Austria | 26 Jun 2013

New payment regime: considerations for M&A practitioners

Should the parties to a share or asset purchase agreement not stipulate the exact conditions for the payment of consideration, a set of default rules will apply. Following the recent introduction of a new law on late payments, M&A practitioners should take note of the new provisions when evaluating whether it is better to rely on the default rules or whether separate contractual clauses......
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Binder Grösswang Rechtsanwälte GmbH | Austria | 14 Jun 2013

Court further clarifies licence requirements for commercial loans

The Administrative Court recently further clarified the circumstances under which lending activities are deemed to be carried out on a commercial basis. In general, this applies if the lender grants loans repeatedly (or has the intention to do so) and the loans are granted with the aim of realising income. However, the court stressed that the legislature did not intend to place all types of......
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Binder Grösswang Rechtsanwälte GmbH | Austria | 1 May 2013

Supreme Court rules on calculation errors in purchase price mechanisms

Personal differences between shareholders in a limited liability company forced one shareholder to buy out another. However, it later turned out that a mistake by the accountant had led to a retrospective tax payment which had an impact on the company's profits for the financial year in which the sale took place, and thereby on calculation of the purchase price. The court assessed whether the......
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