"... a go-to firm for restructuring, insolvency, and distressed M&A ..."
Chambers Europe 2013
Gleiss Lutz has long been a go-to firm for restructuring, insolvency, and distressed M&A. It has advised on many major restructuring and insolvency cases in Germany. One of our key strengths is our full-service offering. We operate in teams that cover various areas of practice, with restructuring and insolvency experts working with leading practitioners from other key fields whose expertise makes them invaluable for securing the success of restructuring projects. As a result, we provide a one-stop service to clients on restructurings and refinancings, as well as on transactional and litigation matters, both within and outside court-supervised bankruptcy proceedings.
For companies and corporations in financial difficulties or with other restructuring needs, we identify the relevant legal issues and explore the full range of options available to them. We develop customised restructuring plans and help implement the requisite measures. Our team has substantial experience in financial restructurings, divestitures, spin-offs, and distressed M&A, and also never loses sight of the related tax, employment, and state-assistance issues. We support our clients as they prepare for insolvency proceedings and help them handle restructuring out of bankruptcy (for example, by developing an insolvency plan). We also represent decision-makers within companies, such as managing directors and board members, defending them against claims and, in particular, providing guidance on how to avoid personal liability.
Financial crises and insolvency affect all stakeholders of a business, creating special challenges and risks not only for the company itself, but also for its shareholders, creditors, and business partners. We have the experience required to identify key risks and to identify and take the necessary steps in situations of financial distress. This includes securing and enforcing rights and negotiating contracts and contractual amendments in the case of insolvent or near-insolvent businesses, assisting with financial restructuring measures (refinancings, restructuring loans, capital measures, debt-to-equity swaps, and debt restructuring), as well as defending against claims asserted by insolvency administrators.
We advise financial and strategic investors on the purchase of companies and businesses standing on the brink of insolvency or already in administration. Unless a subsequent insolvency of a target can be ruled out, acquiring distressed enterprises can be a risky endeavour. Buying businesses already in administration poses its own set of risks, and requires a firm grasp of the rules of the game. Buyers need, among other things, to make sure that the future value of the business has not been permanently impaired by the insolvency proceedings. Key staff, suppliers, and customers also need to be retained. We assist clients at all stages of the acquisition process – overseeing bidding processes and performing legal due diligence, as well as structuring the transaction and providing tax advice.
Gleiss Lutz regularly advises insolvency administrators and trustees on company restructurings and reorganisations (including the drafting and implementation of insolvency plans), on company disposals, and on the preparation, review, and enforcement of avoidance and other liability claims. Our restructuring experts guide clients through all phases of company divestments. They also oversee and conduct the bidding processes and the associated legal vendor due diligence procedures, and also structure the transactions with regard to the taxation aspects.
In recent years, Gleiss Lutz has acted for numerous national and international companies in complex and difficult international restructuring and insolvency cases that demanded extensive cross-border expertise and the delivery of creative solutions. Our international network of premier law firms enables us to support clients anywhere in the world. This gives us the flexibility to put together hand-picked, multi-jurisdictional teams best suited to the task at hand. As an independent law firm, we have the flexibility to select the local counsel best suited to client and mandate. As a result, we can ensure seamless high quality and efficiency across borders.
Dr. Andreas Spahlinger
T +49 711 8997-153
Law Firm of the Year for Restructuring at the JUVE Awards 2010