Austrian leader Schoenherr in real estate push
Austrian leader Schoenherr is attempting to poach a large chunk of local rival Cerha Hempel Spiegelfeld Hlawati's property team, led by two of the firm's equity partners. Schoenherr is currently in talks with around 30 lawyers, although it is currently unclear how many will make the switch.
May 03, 2007 at 05:53 AM
2 minute read
Austrian leader Schoenherr is attempting to poach a large chunk of local rival Cerha Hempel Spiegelfeld Hlawati's property team, led by two of the firm's equity partners.
Schoenherr is currently in talks with around 30 lawyers, although it is currently unclear how many will make the switch.
The departing team is being led Cerha Hempel equity partners Alfred Nemetschke and Walter Anderl, with Schoenherr currently negotiating with sizable teams in Vienna and Budapest.
If Schoenherr bags the entire team, it would more than double its real estate headcount, which currently stands at 20 lawyers. The firm is also keen to increase its footprint in the booming Central & Eastern European (CEE) real estate market.
Cerha Hempel management conceded some lawyers will leave the firm, suggesting that a dispute over strategy was a factor in the move.
Nemetschke said: "Schoenherr is very well-positioned in the international CEE markets, which are enormously important for our team."
Cerha Hempel managing partner Albert Birkner, who began in the role on 1 January, told Legal Week: "It is not yet clear how many will make the switch but we have had a change in strategy and some collateral damage was inevitable."
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