IFLR 1000
The Guide to the World's Leading Financial Law Firms

	Binder Grösswang Freshfields Bruckhaus Deringer Wolf Theiss
	Cerha Hempel Spiegelfeld Hlawati Dorda Brugger Jordis Schoenherr
	Baker & McKenzie Diwok Hermann Petsche CMS Reich-Rohrwig Hainz DLA Piper Weiss-Tessbach Doralt Seist Csoklich Eisenberger & Herzog Fellner Wratzfeld & Partner
	Barnert Egermann Illigasch
	Benn Ibler Brandl & Talos Graf & Pitkowitz Hauser Partners Rautner Huber Saxinger Chalupsky & Partner Siemer-Siegl-Füreder & Partner Skadden Arps Slate Meagher & Flom Taylor Wessing enwc

While banking is not regarded as CHSH's strongest practice, the firm seems to have no problem attracting mandates and clients are pleased with its advice. One who works solely with Thomas Zivny says: "He's very precise and very fast", adding that his technical ability is "extremely good".... [more]

While banking is not regarded as CHSH's strongest practice, the firm seems to have no problem attracting mandates and clients are pleased with its advice. One who works solely with Thomas Zivny says: "He's very precise and very fast", adding that his technical ability is "extremely good".

Cerha Hempel Spiegelfeld Hlawati (CHSH) has seen some staff turnover in the last 15 months with three associates leaving and four arriving.

Deals
A clear highlight for CHSH's banking practice was its advice to OMV in relation to a €750 million multicurrency revolving credit facility agreement. Clemens Hasenauer and Johannes Prinz led on the transaction, which was arranged by a syndicate of 16 domestic and international lenders, including Citigroup Global Markets, Raiffeisen International Bank, Bank of America Securities and The Bank of Tokyo-Mitsubishi.

Project finance is rarely seen in Austria but the firm closed one transaction in 2011. Acting for Erste Group, Thomas Zivny and Mark Krenn advised on the €243 million deal to finance the construction of Shopping City Seiersberg, which will be the third biggest shopping centre in Austria.

Elsewhere, Volker Glas and Christian Aichinger advised Deutsche Bank on a €120 million rollover and refinancing for Montanwerke a subsidiary of the now insolvent A-Tec Group.

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	Cerha Hempel Spiegelfeld Hlawati Dorda Brugger Jordis Freshfields Bruckhaus Deringer Wolf Theiss
	Binder Grösswang Schoenherr Weber & Co
	Baker & McKenzie Diwok Hermann Petsche Brandl & Talos
	CMS Reich-Rohrwig Hainz Fellner Wratzfeld & Partner Graf & Pitkowitz Rautner Huber Saxinger Chalupsky & Partner Skadden Arps Slate Meagher & Flom

Capital markets specialist Cerha Hempel Spiegelfeld Hlawati (CHSH) has not been complacent about its position among the country's elite advisors and in both deal flow and the perception of peers the picture remains enduringly positive. "For capital markets transactions in Austria especially on the equity side there are not too many firms as good as Cerha," says one client.... [more]

Capital markets specialist Cerha Hempel Spiegelfeld Hlawati (CHSH) has not been complacent about its position among the country's elite advisors and in both deal flow and the perception of peers the picture remains enduringly positive. "For capital markets transactions in Austria especially on the equity side there are not too many firms as good as Cerha," says one client.

Clemens Hasenhauer has been an active partner at the firm and clients report favourably on his work: "He is focused on solutions, he doesn't make the transaction more complex," says one, adding: "We like that he is focussed on the business." The firm's reputation is built on its equity work and though some peers in the market question its debt capability, the firm's transaction list and client testimonies tell another story. One client, who the firm recently advised on a bond, says: "They absolutely exceeded our requirements and expectations. It was a difficult environment to issue bonds, we had several stop and goes and they were always ready to provide us with input and support. It was high quality, what they delivered and it was also quite fast."

In the last 12 months, the capital markets practice grew by one with two associates joining but one lawyer departing.

Deals
True to its reputation as one of the leading equity capital markets firms in Austria, CHSH was mandated on one of the few and indeed the largest equity deal to close in the past 12 months. Acting for OMV, Clemens Hasenauer lead a team representing the energy giant on its €750 million capital increase which closed in June 2011.

On the debt side the firm found itself acting largely on the issuer side. For Wienerberger, the world's largest brick manufacturer, Volker Glas and Christian Aichinger advised on two bonds: a €200 million issue placed in Belgium and Luxembourg in January 2012 and, in June 2011, the two lawyer team advised on a €100 million bond. Additionally, Austria Technologie & Systemtechnik and construction company, Strabag, both mandated the firm to advise on further bond work.

Elsewhere, Thomas Zivny acted for the underwriters of SPAR on its €200 million prospectus, which was offered to Austrian and Luxembourg retail investors.

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	Freshfields Bruckhaus Deringer Schoenherr Wolf Theiss
	Binder Grösswang Cerha Hempel Spiegelfeld Hlawati Dorda Brugger Jordis
	Baker & McKenzie Diwok Hermann Petsche CMS Reich-Rohrwig Hainz Fiebinger Polak Leon & Partners
	DLA Piper Weiss-Tessbach Eisenberger & Herzog Fellner Wratzfeld & Partner Graf & Pitkowitz Saxinger Chalupsky & Partner Skadden Arps Slate Meagher & Flom Taylor Wessing enwc
	Benn Ibler bpv Hügel Brandl & Talos Siemer-Siegl-Füreder & Partner

CHSH is recommended for its M&A expertise and the depth of its practice. "If one partner was away another with equally good technical skills would jump in," says one client.... [more]

CHSH is recommended for its M&A expertise and the depth of its practice. "If one partner was away another with equally good technical skills would jump in," says one client. Another agrees and was equally impressed by the partners' "very solid technical background" in addition to their "commitment".

Deals
Among the firm's largest M&A deals was work for longstanding client OMV. Clemens Hasenauer and Johannes Prinz represented the energy company on the $800 million acquisition of Tunisian exploration and production assets from Pioneer Natural Resources, a US oil and gas company.

The firm has also secured a number of cross border mandates, including its role advising Algeco Scotsman Group, a container and logistics company, on the acquisition of A1-Container Group in Austria, Hungary and Slovenia. The move marked the company first foray into CEE (Central and Eastern Europe).

One deal for the firm awaiting merger control approval is Telekom Austria's potential acquisition of Orange Austria's MVNO subsidiary Yesss! Telekommunikation. Albert Birkner has led on the €390 million deal which also includes base stations, frequencies and certain IP rights. The acquisition is part of sale by private equity investors Mid Europa Partners and France Télékom of indirectly held stakes in Orange Austria to Hutchison 3G Austria Holdings, a subsidiary of Hong Kong company Hutchison Whampoa.

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	Egorov Puginsky Afanasiev & Partners Sorainen Vlasova Mikhel & Partners
	Borovtsov & Salei Stepanovski Papakul & Partners Verkhovodko & Partners
	Aleinikov & Partners Arzinger & Partners Cerha Hempel Spiegelfeld Hlawati
	Glimstedt Law Firm Trust Revera Consulting Group
	bnt legal and tax IPM – Consult centr prava Sysouev Bondar Khrapoutsky

Originally heralding from Austria, where it is among the country's leading firms, Cerha Hempel Spiegelfeld Hlawati has a small office in Minsk led by Sergei Makarchuk. One client who used the firm said he would certainly use it again and that "everything was satisfactory".... [more]

Originally heralding from Austria, where it is among the country's leading firms, Cerha Hempel Spiegelfeld Hlawati has a small office in Minsk led by Sergei Makarchuk. One client who used the firm said he would certainly use it again and that "everything was satisfactory".

Deals
Cerha secures some of its work through its Austrian network, counting a number of its fellow countrymen among its clients in addition to various other international companies. Currently, the firm's local practice head, Sergei Makarchuk, is advising one Austrian client on restructuring its Belarusian subsidiary while also assisting another with an acquisition.

Elsewhere, the firm advised Salvatore Ferragamo on customs, licensing, and certification issues relating to importing footwear containing radio frequency ID tags to Belarus. Makarchuk has also been engaged in a confidential matter for a Cypriot client in the energy sector.

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	Boyanov & Co CMS Cameron McKenna Djingov Gouginski Kyutchukov & Velichkov Spasov & Bratanov
	Dinova Rusev & Partners Kambourov & Partners Penkov Markov & Partners Tsvetkova Bebov & Partners Wolf Theiss
	Antov & Partners Dimitrov Petrov & Co Georgiev Todorov & Co Gugushev & Partners Schoenherr
	Cerha Hempel Spiegelfeld Hlawati Dobrev Kinkin & Lyutskanov Novel Consult Pavlov and Partners Law Firm in cooperation with CMS Reich-Rohrwig Hainz Peterka & Partners
	Penev Tocheva and Mandazhieva Law Office Tokushev & Partners Varadinov

Boyko Guerginov is head of the financial and corporate department At Cerha Hemepel in Bulgaria.In January 2012, Guerginov, Nikolay Yanev and Nikolina Dzhalazova advised Lloyds TSB Bank on the Bulgarian law aspects of a facilities agreement in relation to a Bulgarian subsidiary.... [more]

Boyko Guerginov is head of the financial and corporate department At Cerha Hemepel in Bulgaria.

In January 2012, Guerginov, Nikolay Yanev and Nikolina Dzhalazova advised Lloyds TSB Bank on the Bulgarian law aspects of a facilities agreement in relation to a Bulgarian subsidiary. The previous year Guerginov advised Alfa Finance in connection with the restructuring of a €70 million facility agreement. The firm have also been providing advice to Windkraft Simonsfeld on the restructuring and financing of renewable energy projects.

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	Allen & Overy Andrékó Kinstellar CMS Cameron McKenna
	Horváth & Partners – DLA Piper Kajtár Takács Hegymegi-Barakonyi – Baker & McKenzie Lakatos Köves & Partners Réczicza – White & Case Siegler Law Office – Weil Gotshal & Manges
	Burai-Kovács & Partners Erös Ügyvédi Iroda – Squire Sanders Faludi Wolf Theiss Gárdos Füredi Mosonyi Tomori Nagy & Trócsányi Oppenheim Partos & Noblet - Hogan Lovells Szecskay Attorneys at Law
	bnt attorneys-at-law CHSH Dezsöő Felsen Katona Law Firm Forgó Damjanovic & Partners Hajdu & Pázsitka Law Office Katona & Partners Martonyi Law Firm Szabó Kelemen & Partners Attorneys

CHSH Dezső has had a solid year working on some notable mandates. The firm has a reputation for advising German-speaking clients such as Erste Bank, Raiffeisen and Hochtief, especially in real estate transactions.... [more]

CHSH Dezső has had a solid year working on some notable mandates. The firm has a reputation for advising German-speaking clients such as Erste Bank, Raiffeisen and Hochtief, especially in real estate transactions. Recently, it has enhanced its experience in restructuring, refinancing, debt recovery and insolvency.

Deals
The firm advised Erste Bank in the €58 million acquisition financing of several building supply stores in the CEE. It advised the bank with respect to Hungarian law and acted for it in connection to negotiating and signing the relevant credit documents. Additionally, the firm advised Hochtief Airport on Hungarian law issues related to a syndicated loan provided by a number of banks including Bayerische Landesbank, Société Générale and MKB.
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	Badea Clifford Chance CMS Cameron McKenna Musat & Asociatii Nestor Nestor Diculescu Kingston Petersen
	Schoenherr si Asociati Tuca Zbârcea & Asociatii
	Bulboaca & Asociatii Dentons Popovici Nitu & Asociatii Radu Taracila Padurari Retevoescu (RTPR) in association with Allen & Overy
	bpv Grigorescu Stefanica D&B David si Baias Gide Loyrette Nouel Kinstellar Reff & Associates Stoica & Asociatii Voicu & Filipescu White & Case Pachiu Zamfirescu Racoti Predoiu
	Buzescu Ca CHSH SCA Gilescu Valeanu & Partenerii Drakopoulos Law Firm Eversheds Lina & Guia Hammond Bogaru & Associates Pachiu & Associates Peterka & Partners Sulica Protopopescu Vonica Vernon David Vilau & Mitel Wolf Theiss

	Musat & Asociatii Nestor Nestor Diculescu Kingston Petersen Tuca Zbârcea & Asociatii
	Badea Clifford Chance CMS Cameron McKenna Dentons Popovici Nitu & Asociatii Schoenherr si Asociatii
	Bulboaca & Asociatii Gide Loyrette Nouel Marian Dinu Law Office in cooperation with DLA Piper PeliFilip Radu Taracila Padurari Retevoescu (RTPR) in association with Allen & Overy
	bpv Grigorescu Stefanica D&B David si Baias Kinstellar Stoica & Asociatii Voicu & Filipescu White & Case Pachiu Zamfirescu Racoti Predoiu
	Andra Musatescu Law & Industrial Property Offices Buzescu Ca CHSH SCA Gilescu Valeanu & Partenerii Drakopoulos Law Firm Eversheds Lina & Guia Hammond Bogaru & Associates Pachiu & Associates Peterka & Partners Reff & Associates Sulica Protopopescu Vonica Vernon David Vilau & Mitel Wolf Theiss

	Badea Clifford Chance CMS Cameron McKenna Musat & Asociatii Nestor Nestor Diculescu Kingston Petersen Tuca Zbârcea & Asociatii
	Bulboaca & Asociatii Popovici Nitu & Asociatii
	Bostina & Associates Dentons PeliFilip Radu Taracila Padurari Retevoescu (RTPR) in association with Allen & Overy Schoenherr si Asociatii
	Buzescu Ca CHSH SCA Gilescu Valeanu & Partenerii D&B David si Baias Gide Loyrette Nouel Peterka & Partners Vilau & Mitel Wolf Theiss

	Allen & Overy White & Case
	Cechová & Partners Cernejová & Hrbek Ruzicka Csekes – CMS
	Dentons Hamala Kluch Víglasky Kinstellar Squire Sanders Weinhold Legal Wolf Theiss
	BBH Beatow Partners bnt attorneys-at-law bpv Braun Partners Cerha Hempel Spiegelfeld Hlawati - Siska & Partners Dedák & Partners DT Legal Hillbridges Peterka & Partners Schoenherr

	Allen & Overy White & Case
	Cechová & Partners Cernejová & Hrbek Hillbridges Kinstellar Ruzicka Csekes – CMS
	Dedák & Partners DLA Piper Weiss-Tessbach Hamala Kluch Víglasky Havel Holásek & Partners Peterka & Partners PRK Partners Schoenherr Squire Sanders Weinhold Legal Wolf Theiss
	B&S Legal BBH Beatow Partners bnt attorneys-at-law bpv Braun Partners Carnogurský ULC Cerha Hempel Spiegelfeld Hlawati - Siska & Partners Dentons DT Legal