Regional news: Germany

Simmons & Simmons sets up new German restructuring team

Simmons & Simmons has hired a partner from Allen & Overy with credits on the Steinhoff restructuring, to lead a new German restructuring and insolvency team in Frankfurt.

19 July 2021

GÖRG partner appointed over kitchenware company

Germany-based kitchenware company Neue Alno has filed for insolvency for the second time in four years, with GÖRG partner Holger Leichtle appointed as provisional trustee.

19 July 2021

A&O advises on controlled Dutch scheme liquidation

The former holding company of international outdoor clothing group AS Adventure has been liquidated after securing a cooling-off period under Dutch scheme proceedings, which allowed it to formulate a liquidation plan while the rest of the group was sold through a share pledge enforcement.

15 July 2021

Community round-up: partners move firms across Europe and the US

Advisory firm Alvarez & Marsal has hired a new leader for its Italian restructuring group, while law firms K&L Gates, MÖNIG and Eversheds Sutherland have added partners across Europe, and US firms CohnReznick and Fox Rothschild have bolstered their practices on the East Coast.

09 July 2021

Wirecard’s Indian forex subsidiary sold

The German administrator of scandal-hit payments processor Wirecard has agreed to sell an Indian subsidiary of the company, as he continues to offload assets held around the world.

07 July 2021

Berlin logistics conglomerate to acquire insolvent German retailer

European retailer Adler Modemärkte has filed an insolvency plan before a court in southern Germany, after entering into an investment agreement that would see Berlin-based Zeitfracht take it over.

07 July 2021

Linklaters advising as cruise ship operator completes US$2.6 billion restructuring

UPDATED: A host of law firms have advised on the successful multi-jurisdictional restructuring of Malaysian-controlled cruise ship operator Genting Hong Kong, which halted payments on its US$3.4 billion debt pile in August last year.

06 July 2021

Schultze & Braun expands to Hamburg with administrator trio

Germany’s Schultze & Braun has established a new team in Hamburg with the hire of two lawyers from PwC Legal and a tax restructuring expert.

02 July 2021

Clearstream facing €500 million Air Berlin claim following Brexit

The German insolvency administrator of UK-registered airline Air Berlin is set to file a €497.8 million claim against Luxembourgish shareholder Clearstream Banking, claiming it is now the airline’s “personally liable partner” following Brexit.

28 June 2021

Deloitte hires Luther partner in Hamburg

INSOL Europe’s deputy president Frank Tschentscher is set to join Deloitte Legal’s Hamburg office from Luther Rechtsanwaltsgesellschaft.

23 June 2021

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