Wolf Theiss

Press Releases

Newssquare WOLF THEISS VERTRITT 18 NACHRANGGLÄUBIGER DER HETA ASSET RESOLUTION AG ERFOLGREICH VOR DEM VERFASSUNGSGERICHTSHOF

Wien, 28. Juli 2015 – Der Verfassungsgerichtshof hat den im letzten Jahr gesetzlich angeordneten Schuldenschnitt betreffend nachrangige Verbindlichkeiten der HETA ASSET RESOLUTION AG aufgehoben. Die größte Zahl der vor dem Verfassungsgerichtshof anhängigen Verfahren wurde von WOLF THEISS betreut.

Newssquare WOLF THEISS ADVISES UNIQA ON THE SUCCESSFUL PLACEMENT OF EUR 500 MILLION SUBORDINATED NOTES (TIER 2)

Vienna, 21 July 2015 * UNIQA Insurance Group AG (UNIQA) has successfully placed Subordinated Notes (Tier 2) in an aggregate principal amount of EUR 500 million with institutional investors in Europe. As in the past, UNIQA relied once again on the expertise of Wolf Theiss´ Debt Capital Market Team.

Newssquare WOLF THEISS ADVISES ERG RENEW AND LUKOIL ON A COMPLEX SEPARATION OF THE LUKERG JOINT VENTURE IN EASTERN EUROPE

Vienna – July 2015 – Wolf Theiss is advising listed Italian energy company ERG and Russian oil major Lukoil on the complex separation of LUKERG Renew, an Austrian-based 50-50 joint venture between ERG Renew and LUKOIL created in 2011 with a view to investing in the wind sector throughout the CEE region.

Newssquare WOLF THEISS SOFIA ADVISED ARCO CAPITAL CORPORATION LTD. ON THE FINANCING OF BUSINESS PARK SOFIA, IS THE PREMIER OFFICE PARK IN SOUTHEASTERN EUROPE

Sofia, 9 July 2015, UniCredit Bank Austria AG and UniCredit Bulbank AD have jointly participated in the refinancing of the largest office park in Southeastern Europe - Business Park Sofia (BPS) by underwriting a € 103.3 million senior facility. The facility and security agent, account bank, and hedge provider of the transaction is UniCredit Bulbank AD.

Newssquare SEVERAL BILLION FORINTS MAY BE REFUNDED TO HUNGARIAN FIRMS

In its recent decision concerning Hungary, the European Court of Justice ruled that any national regulation and practice precluding the payment of default interest after VAT sums the taxpayer cannot claim to be refunded within a reasonable period as a result of domestic regulation in breach of EU law is not compatible with the EU VAT Directive. The European Court of Justice also confirmed that the interest payable as a result of the breach of Community law may not be less favourable than the interest due when the internal law is infringed. All this could bring domestic companies billions of Forints.

Newssquare THE PAKS INVESTMENT MAY ALSO BE AFFECTED: TURN IN THE EUROPEAN COMMISSION’S CRITERIA IN THE AREA OF STATE AIDS?

In its decision made last October but published only last week, the European Commission approved the state aid intended by the United Kingdom to be provided for the implementation of the "Hinkley Point C" nuclear power plant project planned by the international energy concern EDF. Some points of the Commission`s reasoning indicate important changes as compared to its previous position which, in essence, rejected state aids provided for nuclear power plant investments. Dr. Máté Tóth, lawyer at the energy group of Faludi Wolf Theiss Attorneys at Law, believes that the decision may bear significance in terms of the scheduled expansion of the Paks nuclear power plant, too; moreover, it raises...

Newssquare CAMERA, GPS, FINGERPRINT – DIGITAL WAYS OF MONITORING EMPLOYEES

Budapest, 27 May 2015 – Camera surveillance, fingerprint identification, GPS tracking: The development of technology has enabled the monitoring of a wide range of workers; however, employers can easily breach the law during the practical implementation of these methods.

Newssquare SOCIAL MEDIA – CHALLENGES IN LABOUR LAW

TRADE SECRETS, UNLAWFUL SICK LEAVE, OFFENDING COMMENTS – RISKS OF SOCIAL MEDIA AT THE WORKPLACE

Budapest, 3 March 2015 – With the spread of social media, a growing amount of content is becoming publicly accessible at workplaces, which remained confined to company corridor and elevator gossip in the past. Considering that such content may become public in a larger community, this trend may cause big headaches for employers as well. A careless post or mocking comments aimed at a superior may even cost the employee his/her job, but this greatly depends on whether the given company has any relevant internal policies to manage such cases. Thus, businesses and their employees are faced with a...

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