Regional news: Germany
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
Round-up: new hires for advisory firms across Europe
Alvarez & Marsal has hired a managing director from Deloitte in Germany, while RSM has lost two practitioners in Ireland and London, but added a partner in Leeds - and US global credit manager GoldenTree has welcomed a new European restructuring head in London.
15 June 2021
New York suit dismissed after furniture maker files German insolvency action
German furniture manufacturer Münsterland Gruppe has successfully thrown out a breach of contract claim in New York after a US district court granted comity to its German insolvency proceedings.
14 June 2021
Steinhoff investors’ consortium drops claims, but settlement still faces hostility
A consortium of shareholders seeking to disrupt South African conglomerate Steinhoff’s global settlement has withdrawn its opposition to the group’s Dutch suspension of payments proceedings – but other claimant groups remain hostile in the Netherlands and South Africa.
08 June 2021