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Jones Day

Dr Olaf Benning

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Work +49 89 20 60 42 200
Email:
Jones Day

Work Department

Business Restructuring & Reorganization; M&A; Banking & Finance; Distressed Real Estate Transactions.

Position

Dr. Olaf Benning, Partner, advises clients in out-of-court restructurings, formal insolvency proceedings, and distressed M&A transactions. His primary practice focus is on cross-border cases. Some representative transactions Olaf worked on prior to joining Jones Day include: advising Lehman Brothers with respect to German law issues arising in its chapter 11 proceedings, Värde Partners' acquisition of a large real property portfolio from German bank HVB, Thermphos' acquisition of CWP's phosphate and phosphoric acid business, the acquisition by Montagu of all shares in Kalle Holding and Stabilus, the bidding process for various large loan portfolios, Cerberus' acquisition out of insolvency of the entire business of German automotive supplier Peguform, and the takeover of Dresdner Bank by Allianz. Other companies Olaf represented include Babcock & Brown, Bear Stearns, Lone Star, and 3M. Olaf also has represented banks, financial investors, and large market players in connection with the insolvency of portfolio companies, subsidiaries, major customers, and acquisition targets in the retail, chemicals, and financial services sectors.

Languages

English, German, French.

Member

Admitted to the Federal Republic of Germany Bar. He is also a member of the Turnaround Management Association (TMA) and of the German-American Lawyers' Association.

Education

University of Regensburg (Dr. jur. 2010); Second State Examination (Hamm, 1996); German University of Administrative Sciences Speyer (Postgraduate studies, 1995); First State Examination (Münster, 1993); University of Münster (1988-1993).


Germany: Restructuring and insolvency

Restructuring

Within: Restructuring

Jones Day is sought out for advice on out-of-court restructurings, distressed M&A transactions, contract re-negotiations, and the enforcement and defence of liability and rescission claims. A significant proportion of clients are from the automotive industry, including Toyota. Practice head Olaf Benning advised an investment firm on the review of documents relating to the acquisition of debt securities. He also advised a management consultancy on matters relating to Chapter 11 proceedings of the distressed parent company. Ansgar Rempp is ‘very good and clever’.

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Legal Developments by:
Jones Day

  • US rules regarding offshore accounts

    The Hiring Incentives to Restore Employment Act 2010, enacted on 18 March 2010, imposes a new US withholding tax and reporting regime, known as the Foreign Account Tax Compliance Act (FATCA). The FATCA regime applies generally to payments made after 31 December 2012, except on obligations (to be defined in future guidance) outstanding on 18 March 2012. Substantial effort is required by foreign entities to bring their worldwide operations and policies into compliance with the FATCA rules as of the effective date.

    - Jones Day

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