Reorganisation and Restructuring

An economic crisis situation involves numerous demands and can carry considerable liability risks for all parties involved. The wide range of complex issues requires intensive advice, particularly in the areas of insolvency law, corporate law, directors’ and officers’ liability and D&O insurance, banking law & financing as well as employment law. With our interdisciplinary team of lawyers, tax advisors and auditors, we can identify the critical points, help to minimise risks and develop solutions. The spectrum of our advice covers all relevant areas relating to restructuring and insolvency situations.

Restructuring Advice

  • Legal, business management and tax advice for companies in crisis
  • Preparation of planning and scenario calculations and action plans, development of restructuring concepts
  • Profit and liquidity planning, controlling
  • Plausibility review of solvency forecasts
  • Assistance with bank reporting

 

Employment Law

  • Design of staff reduction measures, voluntary programmes, transfer companies, mass redundancies
  • Negotiations with trade unions and works councils; restructuring collective agreements, reconciliation of interests, social plans
  • Short-time work, outsourcing, transfer of undertakings, closure
  • Company pension schemes

 

Financing and Banking Law

  • Advising borrowers and credit institutions:
  • Waiver requests (e.g. due to breaches of covenant).
  • Non-performing loans and their (re-)collateralisation, collateral pooling agreements
  • Standstill agreements
  • Bridging and restructuring loans
  • Realisation of collateral

 

Advising Creditors

  • Advising customers and suppliers in crisis and in the event of the insolvency of a contractual partner
  • Examination and enforcement of rights to segregation and preferential satisfaction
  • Negotiation of agreements on further production and resale
  • Advice on the provision and realisation of collateral
  • Defence against insolvency avoidance claims

 

Advising Directors and Officers

  • Avoidance of liability risks
  • Defence against directors’ and officers’ liability claims
  • Enforcement of claims under insurance law, in particular actions for coverage

 

Distressed M&A

  • Carrying out legal, tax, financial Due Diligence investigations
  • Contract drafting and negotiation
  • Preparation of and overseeing the entire bidding process
  • Company valuation, planning calculations
  • Analysis and structuring of the transaction object, including tax structuring

 

Distressed Real Estate

  • Restructuring of real estate and real estate portfolios, acquisition and sale of real estate including tax structuring
  • Advice on tenancy law in the event of a tenant crisis

 

Support for Insolvency Administrators

  • Assertion of insolvency avoidance claims
  • Assertion of directors’ and officers’ liability claims and claims for damages
  • Drafting and negotiating continuation and loss assumption agreements
  • Ongoing tax advice

 

Restructuring & Insolvency Administration

  • Filing for insolvency
  • Legal support for the initiation and implementation of proceedings pursuant to the Act on the Stabilisation and Restructuring of Businesses (StaRUG)
  • Regular insolvency proceedings/self-administration proceedings
  • Assumption of the role of restructuring representative (StaRUG)
  • Assumption of the role of insolvency administration/property administration

Recent Reference Projects

  • Advising an automotive supplier on its successful reorganisation under self-management, design of and overseeing the restructuring process, assumption of CRO function, developing an insolvency plan
  • Advisor to a large printing company on its successful reorganisation under self-management, design of and overseeing the restructuring process, assumption of the CRO function, developing an insolvency plan
  • Advising a foundry on its successful reorganisation under self-management, design of and overseeing the restructuring process, assumption of CRO function, developing an insolvency plan
  • Advising an electronic company on its successful reorganisation under self-management, designing of and overseeing the restructuring process, assumption of the CRO function, developing an insolvency plan

Relevant areas of practices for Reorganisation and Restructuring

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