Digital Future

Restructuring

Broad-based expertise in all areas

Gleiss Lutz is recognised as a go-to firm for restructuring, insolvency, and distressed M&A. We have 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, employment-related restructurings, as well as on transactional and litigation matters, both in and outside of court-supervised bankruptcy proceedings.

Chambers Global 2020
“Boasts a strong restructuring and insolvency practice.” (client)

Financially distressed companies

For companies in financial difficulties or with other restructuring needs, we identify the relevant legal issues and explore the full range of available options. We also develop customised restructuring plans and help implement requisite measures. Our team has substantial experience in financial restructurings, divestitures, spin-offs and distressed M&A, while keeping on top of the related tax, employment and state aid issues. ...We help clients both handle restructuring out of bankruptcy and prepare for insolvency proceedings (e.g. develop an insolvency plan). We also represent decision-makers within companies, such as managing directors and board members, defending them against claims and providing guidance on how to avoid personal liability, in particular.

Shareholders, creditors and business partners of troubled or insolvent companies

Financial crisis and insolvency affect all stakeholders of a business, creating special challenges and risks not only for the company itself, but also its shareholders, creditors and business partners. In distressed situations, we have the experience required to identify key risks and to assess and take the necessary steps. ...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), cutting labour costs (downsizing, site closures and salary reductions), as well as defending claims asserted by insolvency administrators.

Buyers of distressed or insolvent targets (Distressed M&A)

We advise financial and strategic investors on the purchase of companies and businesses on the brink of insolvency or 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 also need to make sure that the future value of the business is not impaired and that key staff, suppliers and customers are retained. We assist clients at all stages of the acquisition process – conducting bidding procedures and performing legal due diligences, as well as structuring the transaction and providing tax advice.

Insolvency administrators/trustees in M&A, complex insolvency, and litigation matters

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 procedures and associated legal vendor due diligences as well as the tax structure of the transaction.
Gleiss Lutz acts for numerous national and international companies in complex and difficult international restructuring and insolvency cases that demand extensive cross-border expertise and call for creative solutions. Our global network of leading local law firms enables us to cover all major jurisdictions around the world. ...This gives us the flexibility to put together hand-picked, multi-jurisdictional teams best suited to the task at hand. And as an independent law firm, we are free to choose local advisers based on clients’ specific requirements – ensuring consistently high-quality advice and seamless service across borders.
Restructuring News
28.08.2020
Gleiss Lutz advises Alcentra in connection with financing and restructuring of the Arwe Group
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24.08.2020
Gleiss Lutz advises the Berylls Group in connection with the acquisition of three companies of automotive supplier MEKU
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24.06.2020
Gleiss Lutz advises SunExpress on strategic realignment
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16.06.2020
Gleiss Lutz advises LEONI Kabel GmbH in connection with the restructuring of the LEONI Group
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Know-How
25.08.2020
Automotive industry faces unprecedented challenges and needs to act to comply with legal requirements resulting from COVID-19 pandemic
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26.03.2020
Commission adopts framework for COVID-19 state aid
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25.03.2020
Statutory relief in insolvency law and for restructurings: avoiding risks and liability, seizing opportunities
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20.03.2020
Corona-crisis-compliance –
Current obligations to act, liability risks and recommendations
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