Legal advice for financial services institutions
We advise credit institutions, insurers, securities firms and payment service providers as well as other licensed legal entities on all issues of contract and supervisory law and financial market law. We assist lenders and borrowers in structuring purpose-driven financings, negotiating financing arrangements, and structuring collateral and restructurings.
We have received numerous awards as one of the best law firms in Austria in the field of banking law and investor litigation(Legal500, IFLR, Leaders League, Trend-Anwaltsranking (since 2010) and JUVE).
Banking Supervisory Law
In the field of supervisory law, financial market participants continuously draw on our special experience. The focus of our regulatory activities is on advising and representing clients before supervisory authorities (ECB/FMA/OeNB). Our activities include, among others, advice on governance, product launch and product development processes, assistance in on-site audits, outsourcing and digitalization projects, reorganizations and bank resolution, deposit insurance law, money laundering law and compliance, and representation in administrative and administrative criminal proceedings.
In recent years we have, among other things
- Banks in the first ever proceedings in Austria before the ECB under the SSM and under the SRB
- Advised an international payment service provider on national, EU and UN sanctions
- Advised and represented several banks in banking sector change and comprehensive reorganization
- Banks accompanied in the change of legal form
- Accompanied a major mobile operator in the implementation of a payment service
- Successfully restructured several banks and advised on bank resolution and insolvency law issues
- Assisted banks with outsourcing projects and as part of the OeNB’s first ICT audits
- Pension funds supported in outsourcing projects
- Advise institutions on minimum capital requirements (most recently MREL, SREP)
- At present, we are also increasingly advising institutions on the implementation of DORA (Digital Operational Resilience Act).
Banking Contract Law
In terms of contract law, we support our clients in particular in the areas of IT, outsourcing and digitalization, sustainable finance, drafting of general terms and conditions and contracts, restructuring, liquidation and restructuring advice. We also advise and represent our clients on special issues with a regulatory impact, such as managerial service law. We are one of the most recognized law firms in the field of financial market law litigation and regularly represent clients in disputes relating to investor law (e.g., defense against class actions or representation of institutional investors) or interest rate adjustment clauses.
In recent years we have, among other things
- Hundreds of investor lawsuits in the area of investment advisor liability, lawsuits regarding interest clauses or ABB with amounts in dispute of more than € 400 million averted
- advise on the digitalization of banking processes and the design of online banking for investments and financing
- Advised on financings with a volume of over € 20 billion
- comprehensive advice on outsourcing and insourcing of banking tasks.
- Financing of companies, projects and real estate accompanied
- The first major restructuring project in the COVID crisis successfully completed
Insurance Contract Law
For insurers, we are active, for example, in the defense of liability and coverage claims, in the handling of major claims and in the drafting of insurance terms and conditions. We also support extremely complex mandates from the financial lines sector, in particular pecuniary loss liability, D&O, POSI, industrial legal protection and fidelity insurance, both as coverage or monitoring counsel and as direct representatives of insured persons in civil and criminal proceedings.
We advise policyholders on claims handling, the assessment of coverage issues, the structuring of insurance concepts, the review of insurance conditions or the management of coverage processes.
In the area of professional liability (in particular auditors, bank auditors, lawyers, notaries, tax consultants, management consultants, etc.) we have decades of experience and regularly represent professionals or insurers in large and complex liability cases.
In recent years we have, among other things
- Handling claims (e.g. as monitoring counsel) and coverage disputes in professional liability, D&O and public liability insurance for international insurers, reinsurers, for brokerage companies or for policyholders with amounts in dispute exceeding € 450 million
- advise on the formulation of insurance conditions, e.g. in liability, fidelity, cyber crime or project insurance
- Defended investor lawsuits e.g. on insurance investment products or represented insurers and other “institutionals” as investors
- Conducted numerous liability and coverage litigations and negotiated coverage settlements
- Structured and negotiated project insurances and special insurance conditions, among others for a public client with a coverage amount of € 200 million or an Austrian bank in the field of D&O, E&O and Cyber Risk.
Insurance contract law
For insurers, we are active, for example, in the defense of liability and coverage claims, in the handling of major claims and in the drafting of insurance terms and conditions. We also support extremely complex mandates from the financial lines sector, in particular pecuniary loss liability, D&O, POSI, industrial legal protection and fidelity insurance, both as coverage or monitoring counsel and as direct representatives of insured persons in civil and criminal proceedings.
We advise policyholders on claims handling, the assessment of coverage issues, the structuring of insurance concepts, the review of insurance conditions or the management of coverage processes.
In the area of professional liability (in particular auditors, bank auditors, lawyers, notaries, tax consultants, management consultants, etc.) we have decades of experience and regularly represent professionals or insurers in large and complex liability cases.
In recent years we have, among other things
- Handling claims (e.g. as monitoring counsel) and coverage disputes in professional liability, D&O and public liability insurance for international insurers, reinsurers, for brokerage companies or for policyholders with amounts in dispute exceeding € 450 million
- advise on the formulation of insurance conditions, e.g. in liability, fidelity, cyber crime or project insurance
- Defended investor lawsuits e.g. on insurance investment products or represented insurers and other “institutionals” as investors
- Conducted numerous liability and coverage litigations and negotiated coverage settlements
- Structured and negotiated project insurances and special insurance conditions, among others for a public client with a coverage amount of € 200 million or an Austrian bank in the field of D&O, E&O and Cyber Risk.
Insurance Supervisory Law
In terms of insurance regulatory law, we advise and represent insurance companies on issues such as licensing, market entry in Austria, insurance distribution or outsourcing and digitalization projects as well as sustainable insurance and sustainability.
In recent years we have, among other things
- advise on the conversion of the insurance distribution of financial institutions to the IDD
- Advised an international specialist insurer on the Europe-wide structuring of a group insurance policy in the tourism sector
- advised a US insurer on its market entry in Austria
- Advised an international vehicle manufacturer on the design of warranty products and their differentiation from insurance policies
Insurance Regulatory Law
In terms of insurance regulatory law, we advise and represent insurance companies on issues such as licensing, market entry in Austria, insurance distribution or outsourcing and digitalization projects as well as sustainable insurance and sustainability.
In recent years we have, among other things
- advise on the conversion of the insurance distribution of financial institutions to the IDD
- Advised an international specialist insurer on the Europe-wide structuring of a group insurance policy in the tourism sector
- advised a US insurer on its market entry in Austria
- Advised an international vehicle manufacturer on the design of warranty products and their differentiation from insurance policies