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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