Regional news: Germany

Gleiss Lutz advising German retailer on self-administration

UPDATED: A German clothes retailer with international stores has filed preliminary insolvency proceedings, marking the first test of Germany’s newly strengthened self-administration rules.

15 January 2021

AlixPartners strengthens globally

AlixPartners has announced seven promotions across its restructuring group in the US and Europe, and hired McKinsey & Co partner Karsten Lafrenz in Germany.

14 January 2021

Community roundup: Hires at Jeantet, White & Case and GÖRG

Updated: European firm Jeantet has established a restructuring practice with a four-lawyer team from France's Fidal in Paris; while White & Case has hired from Clifford Chance in Japan and GÖRG from Anchor Rechtsanwälte in Germany.

11 January 2021

First “persons unknown” injunction granted in Malaysia

In the first reported judgment of its kind in Southeast Asia, a Malaysian court has granted a Mareva injunction to help a German chemical company recover funds from an unknown international fraudster.

06 January 2021

Air Berlin fails to block English Etihad litigation on appeal

Air Berlin’s administrator must face an English challenge to his €2 billion German contract breach claim against Etihad Airways, after a London appeal court ruled that EU law allowed the dispute to be heard in England under an “asymmetric” jurisdiction clause.

18 December 2020

Heated debate as Galapagos jurisdictional wrangles exchanged

A Luxembourg fund and a German insolvency administrator that are challenging the Galapagos group’s 2019 UK restructuring in the US and Europe, have laid out before an English court why they shouldn’t be joined in a claim for declaratory relief that the restructuring was valid.

18 December 2020

Baker McKenzie establishes new restructuring team in Frankfurt

Baker McKenzie has set up a new restructuring team in Frankfurt, bringing in lawyers from Clifford Chance and CMS.

03 December 2020

ECHR sides with German courts in privilege battle

A European court has found that privilege in a lawyer-client relationship may be waived if it serves an insolvent company’s interests, in cases where its interests diverge from those of its former managing directors.

23 November 2020

Santander snaps up Wirecard payments platform, with A&O advising

Allen & Overy is advising Santander on its acquisition of Wirecard’s core technology assets, the latest in a series of firesales at the collapsed German payments firm that is facing over €12 billion worth of claims.

19 November 2020

Bremen court appoints German Property Group creditors committee

The Bremen court hearing a disgraced German real estate investment scheme's billion-euro insolvency proceedings has appointed a provisional creditors’ committee to represent the interests of some of the international pensioners it targeted.

12 November 2020

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