Covid-19 – Update Merger Control Austria
As announced, following the entry into force of the 2nd Covid-19 Act on 23 March 2020, the Austrian Federal Competition Authority (FCA) has now published a newsletter regarding the changes in connection with the submission of merger filings and Phase I and Phase II merger control proceedings in the coming weeks: As already anticipated in my previous article, the FCA clarified that the new rules, namely the prolongation of the time periods for Phase I proceedings and for Phase II proceedings before the Austrian Cartel Court, do not apply to merger filings which have been submitted prior to 23 March and which are currently pending in Phase I (unless an application for Phase II proceedings is made by the authorities). The FCA also stressed that requests for a waiver will remain possible also in this new setting.
The new time periods apply to all filings or requests for Phase II proceedings submitted until 30 April 2020 – let us all hope that we can then go back to the normal regime again!
We will of course keep you updated of any new developments.
Please note: This newsletter merely provides general information and does not constitute legal advice of any kind from Binder Grösswang Rechtsanwälte GmbH. The newsletter cannot replace individual legal consultation. Binder Grösswang Rechtsanwälte GmbH assumes no liability whatsoever for the content and correctness of the newsletter.
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