Vienna, 24 September 2020. ‘JUVE is in the air’: The new JUVE Handbook including the ranking of Austria’s leading law firms is available hot off the press. In Corporate/M&A, Banking and Finance law, and Dispute resolution, Fellner Wratzfeld & Partner, leading in all six JUVE categories, is among the law firms with the highest growth in turnover. Hardly any competitor increased its headcount as much as fwp in the last year.

Leading names among Austria’s attorneys: fwp partners Markus Fellner, Lukas Flener, Michael Hecht, Florian Kranebitter, Paul Luiki, Rudolf Pekar, Gregor Schett and Kurt Wratzfeld.

Insolvency and restructuring

The COVID-19 pandemic is a challenge and has implications: Liquidity and profits are suffering, adjustments to insolvency law brought about short-term facilitations but challenges in the medium and long term. Restructurings offer possibilities.

 ‘Financial restructurings remain the special field of Dr Markus Fellner and his colleagues . Regular client UniCredit Bank Austria relied on the competence of the attorneys in a number of mandates. But not only banks place their trust in the law firm; enterprises in critical situations are also among its clients.’

Markus Fellner is described as ‘the measure of all things’ and ‘a strong force in the banking sector’: ‘He is the man to go to.’

An fwp deal particularly worth noting is the reorganisation of Huber Group which was accepted by the creditors in late August. ‘By way of a framework agreement with banking consortium consisting of UniCredit Bank Austria, BAWAG P.S.K, Commerzbank, Raiffeisenlandesbank Oberösterreich and Hypo Vorarlberg, Huber initially managed to prevent follow-up insolvencies of some domestic and foreign companies’. Lead partners were Markus Fellner and Florian Kranebitter.

Further mandates: Advising UniCredit BA, among other things, in connection with the insolvency and financial restructuring of SFL Holding.

Banking and finance law

‘The law firm’s work in banking and finance law is based on two solid pillars: restructurings – of financings as well as of financial institutions – and defence against customer complaints’, writes JUVE. ‘In light of the high workload, the practice group has recently expanded the team of associates considerably and is now among the best-staffed in Vienna’, JUVE continues.

According to JUVE, fwp demonstrated its finance expertise particularly in connection with the acquisition of the majority of ÖHT-Bank by OeKB, and in the context of the disputes concerning the 3 Banks Group, which were a matter of great media attention and where fwp provided legal advice to UniCredit.

Beside Markus Fellner, Gregor Schett is recommended as an ‘excellent advisor on consumer protection law’.

Further mandates: Advising Bawag PSK on the acquisition of a 49% shareholding in Finventum/Savity; OeKB on the acquisition of 68.75% of ÖHT-Bank; Raiffeisenlandesbank OÖ; RBI and UniCredit Bank Austria on financing for Waagner-Biro-Bridge-Systems

Dispute resolution

‘The law firm mainly represents in proceedings arising from disputes under company law as well as banking and finance law’, according to JUVE. ‘In addition, many foreign clients count on the attorneys’ expertise where disputes under commercial law and claims for damages are concerned.’

Markus Fellner and Gregor Schett are explicitly recommended by JUVE: ‘Interesting proceedings in the banking sector’, ‘a lot to see’.

Labour law

‘Litigation cases, which involve, for example, representing a bank in proceedings in connection with the dismissal of a manager, form the major part of the practice’s business, accompanied by ongoing advising on labour-law matters and supporting transactions’, in particular in the restructuring area.

Kurt Wratzfeld is recommended as being ‘quick, confident and concise’ in labour law matters.

Company law/M&A

The competent fwp team advising on company-law matters ‘continues to perform strongest in reorganisation-related transactions and restructurings’, writes JUVE.

Recommendations are issued for Markus Fellner, Lukas Flener and Paul Luiki: ‘Always considering the economic feasibility.’

Economic administrative law

Michael Hecht ‘combines environmental- and planning-law knowledge with real-estate- and construction-law advice, for example in several road construction and flood protection projects; the construction costs of safety measures at the rivers March and Thaya alone amount to EUR 123 million’, states JUVE.

‘In procurement law, contracting entities with comprehensive procurement needs, such as the Province of Lower Austria and Bundesimmobiliengesellschaft (BIG), increasingly place their trust in Rudolf Pekar’s team’, JUVE continues to write.