The Legal 500

Schultze & Braun’s highly rated practice handles impressive mandates from its robust network of offices across the country. Recent work includes acting as administrator in the complex insolvency case of Solar Millennium, as well as the insolvency cases of Wader Quality Toys and Huth & Gaddum. Edgar Grönda, Volker Böhm and Eberhard Braun are recommended.

White & Case LLP has the resources to handle effectively large-scale mandates such as the TelDaFax insolvency, currently the largest insolvency in Germany in terms of the number of creditors, and can leverage the firm’s international resources. The team was also appointed as temporary custodian of PowerWind, one of the first proceedings under the new German insolvency law. Sven-Holger Undritz and Biner Bähr are particularly well regarded.

Görg Partnerschaft von Rechtsanwälten has been busy with the extremely high-value Arcandor insolvency, as well as acting on the ADA-Das SystemHaus and HCM Group insolvencies. The firm set up a new Hamburg office in January 2013 with three insolvency administrators, and strengthened its resources in Berlin by hiring a team from Brinkmann & Partner. Cologne-based Hans-Gerd Jauch and Jörg Nerlich jointly head the practice.

HWW Wienberg Wilhelm has been particularly visible in insolvency matters in the solar energy industry, where the team has been appointed as administrator in the Q-Cells case, as well as in the SunStrom, Odersun and FTD Fahrzeugtechnik insolvencies. Name partners Jan Wilhelm and Rüdiger Wienberg enjoy excellent reputations.

Jaffé Rechtsanwälte Insolvenzverwalter fields ‘excellent and very strong administrators’ and ‘an impressive range of younger lawyers’. The practice continues to act in the Qimonda insolvency, while new mandates include the 3S Packaging and Petroplus cases. Name partner Michael Jaffé is the key figure.

Kebekus et Zimmermann has expanded its practice, attracting instructions to act on cases such as the Ruia Global Fasteners insolvency. Other mandates were acting as administrator in the insolvency cases of Artega Automobil and Voerdal Aluminium. Practice head Frank Kebekus is highly regarded.

Pluta Rechtsanwälte GmbH’s 29-office network in Germany is complemented by offices in Spain and Italy. Recent cases include acting as administrator in the insolvencies of Aqua Vital, construction company Gerecke, and textile retailer Wissmach. Michael Pluta and Martin Prager are the key contacts.

The ‘extremely professional’ team at Wellensiek Rechtsanwälte – Partnerschaftsgesellschaft includes Christopher Seagon and some ‘fantastic younger lawyers’. It administrated large-scale matters such as the Sondermann Brot, NS Kunststofftechnik and Meteor Weigelt insolvencies.

Brinkmann & Partner lost fee-earners 
in Berlin and Hamburg to Görg Partnerschaft von Rechtsanwälten but retains its 
nationwide presence with professionals in 
34 offices. Recent cases include the 
Brauerei Alsfeld, Getränke-Ring and SIAG Nordseewerke insolvencies. Name partner Berthold Brinkmann and Jan Markus Plathner 
are well known.

CMS’ ‘very active’ team includes ‘fantastic lawyer’ Michael Frege and Joachim Kühne, who have been appointed as provisional insolvency administrators of Neckermann. The team continues to handle the Lehman Brothers Bankhaus case.

Kübler’s recent instructions include acting as administrator in the insolvencies of Arise Technologies Deutschland and Diehl Group. The firm recently opened in London, its first foreign office. Seasoned practitioner Bruno Kübler is ‘better than most’.

Leonhardt has offices across Germany but remains strongest in Berlin, with Rolf Rattunde and Christian Köhler-Ma being well regarded. Recent cases include the insolvencies of Capricornus Investment and Inventux Technologies.

Piepenburg – Gerling Rechtsanwälte has acted as administrator in high-profile insolvency cases such as Pfleiderer and Polo Expressversand. Horst Piepenburg and Peter Minuth are the team’s best-known advisers.

Freshfields Bruckhaus Deringer’s expert team is able to handle complex multi-jurisdictional matters. Recently it advised the ad hoc committee of the noteholders of Deutsche Annington on a €5bn CMBS refinancing, acted for Klöckner Pentaplast during its financial restructuring, and advised PrimaCom on its financial restructuring by way of a scheme of arrangement under English law. It is also advising listed company Praktiker during its complex restructuring. Lars Westpfahl’s work is ‘valuable beyond measure’, say clients.

Linklaters LLP advised Lithuanian Central Bank on drafting new legislation regarding the restructuring of banks, a matter which leveraged the firm’s resources in London. Other matters included advising ING Bank as agent for a group of banks on the failed attempt to find a consensual restructuring of Petroplus Group, and acted for a group of senior lenders – among them Carlyle, Crédit Agricole and Credit Suisse – on the corporate and financial restructuring of Primacom. The team’s ‘exceptional individuals’ include Sven Schelo and Kolja von Bismarck, who provides ‘perfect service’ and is ‘always available’.

Allen & Overy LLP’s ‘very well-established team’ has ‘very good strength-in-depth’, and excels at advising on financial restructuring matters, frequently in conjunction with colleagues in London. Recent instructions include advising Deutsche Annington Immobilien Group on the refinancing of its €4.5bn German multi-family CMBS, and acting for the steering committee banks on the restructuring of Pfleiderer. The team also advised Quinn on its debt restructuring. ‘Good negotiator’ Peter Hoegen is ‘always accessible’.

Latham & Watkins LLP has ‘good business acumen’ and adheres to ‘very short response times’. The firm has acted on various high-profile matters recently, among them advising ING Bank as senior and mezzanine agent and Wilmington Trust as security agent in the restructuring of Primacom; and MAG Europe on its restructuring as well as the creation of a double-sided trust. The firm’s solar energy expertise attracts a number of instructions and it represented Q-Cells and its preliminary insolvency administrator in the sale process. Frank Grell is recommended along with Andreas Diem, who has ‘broad experience’ and is appreciated for his ‘good communication with banks’.

Clifford Chance is a key adviser to banks and banking syndicates who frequently turn to the firm for advice on matters with an international element. The team advised senior banks on the refinancing of automotive supplier Novem and its sale to Bregal Capital; a banking syndicate on the restructuring of a wholesale group; and Ciech Group on its refinancing. Stefan Sax is ‘a high-quality lawyer’ and 
Heinz-Günter Gondert is also recommended.

Gleiss Lutz has notable experience in the restructuring of renewable energy companies – this included providing comprehensive advice on the intended restructuring of solar energy company Solon, and advising centrotherm photovoltaics in its restructuring, utilising options available under the new German insolvency law. The team is also advising Infineon on Qimonda’s insolvency. Andreas Spahlinger heads the practice.

Görg Partnerschaft von Rechtsanwälten has an extremely broad practice, including 
out-of-court trusteeships, and excels at ‘unusual and complex situations that require commercial understanding, flexible solutions and good negotiators’. The team is acting for Pfleiderer on its restructuring, giving strategic insolvency advice to Q-Cells, and advising Penta on the potential acquisition of Schlecker out of insolvency. Christian Bärenz is ‘practical and result-oriented’. Helmut Balthasar and Hans-Gerd Jauch are also recommended.

Kirkland & Ellis International LLP’s ‘excellent and speedy’ team provides high-quality services and is able to draw on its strong international resources. It advised Anchorage Capital and Martinrea International on the acquisition of Honsel from the administrator, and represented an ad hoc committee of bondholders in the Q-Cells bond restructuring. The ‘exceptional’ Leo Plank has ‘strong business acumen’ and ‘distinguished restructuring know-how’.

Noerr provides comprehensive legal and management consultancy services, including litigatious representation. It assisted Spanish company Arenales and its banking consortium with the restructuring triggered by the insolvency of shareholder Solar Millennium. Deutsche Bank is a client on the contentious front. The team also advised the insolvency administrator on the sale of NDT Systems to a strategic investor. Christian Pleister heads the practice.

Hengeler Mueller has significant expertise in refinancing, and recently advised Pfleiderer on the restructuring of a €1.1bn syndicated credit facility. It also advised Q-Cells on bond restructuring. The team represents numerous banks, and acted for WestLB on its comprehensive transformation. Johannes Tieves is ‘proactive and pushy if needed’, and the partners overall are ‘hands-on and deliver sound and immediate advice’.

Hogan Lovells International LLP advised Weissker Group on its acquisition of NDT Systems from administration; and Leiser Fabrikations- und Handelsgesellschaft and its subsidiaries on the restructuring programme under self-administration and a protective shielding period. FMS Wertmanagement is also 
a client. Heiko Tschauner is ‘pragmatic’ and ‘knows the market players’, and Detlef Haß is 
‘a top-quality lawyer with a keen sense of 
clients’ needs’.

Weil, Gotshal & Manges’ thriving team attracted several new clients and handled 
high-value cases such as advising Strategic Value Partners and Oak Hill Advisors on Pfleiderer’s cross-border financial restructuring. The team advised new client Platinum Equity on its potential acquisition of the insolvent Manroland; and Oaktree Capital Management on the restructuring of Beluga. The team continues to advise the Lehman Brothers companies in their Chapter 11 proceedings. ‘Seasoned veteran’ Gerhard Schmidt is recommended.

White & Case LLP, which has strong insolvency and refinancing expertise, has been advising Primacom Holding on the restructuring of its financial liabilities; and Novasep Group on its financial restructuring in accordance with an agreement with bondholders, shareholders and the French state-owned fund FSI. The firm also continues to advise Daimler on the insolvencies of suppliers. Biner Bähr and Sven-Holger Undritz are recommended.

Dentons mainly acts for international clients, and recently advised GSG Asset on the refinancing of a €299m acquisition finance loan. It also acted for Solarwatt on its restructuring plan after its successful application for the first shield proceeding in the solar energy industry. Practice head Andreas Ziegenhagen is highly regarded and also heads the firm’s European practice.

Heuking Kühn Lüer Wojtek recently advised the supervisory board of a wind turbine manufacturer on its restructuring, and acted for the creditors regarding a hotel chain’s insolvency. Georg Streit has ‘strong, expert knowledge’.

Jones Day excels at cross-border work, and recently advised The Riverside Company on its acquisition and financing of Keymile Group; and Ono Group on buying the motorsports division of the insolvent BBS International. Goldman Sachs is also a client. Volker Kammel heads the practice.

Wellensiek Rechtsanwälte – Partnerschaftsgesellschaft’s broad practice spans restructuring advice and insolvency administration, and continues to advise Barclays Capital London and Deutsche Bank on real estate portfolio restructurings. It is also advising Merrill Lynch on distressed investments. Alfred Hagebusch is highly regarded.