CHSH Cerha Hempel Spiegelfeld Hlawati has a ‘keen and profound understanding of banking issues and a professional attitude’. The team attracted some top mandates in 2010, including continuing to advise Erste group on various project financings in eastern Europe, and also advising the Swiss Zürcher Kantonalbank on its acquisition of Austria’s Privatinvest Bank. Edith Hlawati heads up the six-partner team.

The banking work of Cerha Hempel Spiegelfeld Hlawati is slightly overshadowed by its leading capital markets practice. But the market does not deny its ability to attract and perform in complex mandates. A case in point is it helping Telekom Austria rework €930 million worth of financing and collateral agreements with BNP Paribas. This formed part of the corporate restructure of the client's parent company and required the team to renegotiate cross-border financings settled nearly ten years ago.The firm also seems to have picked up a large chunk of the banks' debt restructurings. Since April 2010 it has advised Austrian banks on four debt restructurings covering seven central and eastern European countries, with values ranging up to €105 million. Elsewhere the firm advised Germany's Commerzbank on the regional regulatory requirements of its merger with Dresdner Bank, and its launch in Austria. The new branch was opened in June 2009 and the deal value totalled €5.12 billion.As for the team, partner Peter Knobl is regarded by peers as an excellent regulatory lawyer, Volker Glas is valued for his oversight and direction, and senior associate Johannes Buchinger was praised by clients.

Leading lawyers
Volker Glas
Peter Knobl

CHSH Cerha Hempel Spiegelfeld Hlawati wins praise from peers for its “excellent CEE coverage and cross-border strength.” Clients report: “We are very confident in its ability to handle a significant workload. CHSH understands our needs fully, and it is responsive, precise and solution-oriented.” The firm is commended for its handling of Commerzbank’s heavily regulated purchase of Dresdner Bank. The transaction involved aspects of Austrian, Bulgarian and Hungarian law. The practice group also represented OMV on financing a gas-fired power plant in Romania. Regulatory expert Peter Knobl is considered “very knowledgeable. He knows each statute by heart and is a great team player.” Thomas Zivny is another notable player in the department. He is described as “an expert and a scholar; he is an incredibly quick, talented and reliable lawyer.” He is known for his strong presence in finance. Clients recommend Volker Glas as a “good, solid banking and corporate finance lawyer; he is very diligent and experienced.” He is active in banking, capital markets and tax law.

Lawyers: Peter Knobl (Band 2), Volker Glas (Band 3), Thomas Zivny (Band 4)

Highly recommended