Insolvency in Denmark

Bech-Bruun

Bech-Bruun houses a leading creditor practice, reflected in its impressive client roster that includes major Danish banks, government funds and international lenders operating outside of Denmark. Practice head Anders Hoffmann Kønigsfeldt has extensive experience acting as trustee for bankrupt estates and acting in proceedings related to avoidance in bankruptcy. The group also assists with company restructurings, out-of-payment procedures and creditor arrangements; Troels Tuxen is a name to note. The firm has significant cross-border expertise, with a presence in China, Greenland and other Nordic countries. On the debtor side, the firm advises major Danish corporates.

Practice head(s):

Anders Hoffmann Kønigsfeldt

Other key lawyers:

Jørgen Hauschildt; Michael Serring; Troels Tuxen; Anders Hauge Gløde; Søren Christensen Volder

Testimonials

‘The law firm Bech-Bruun always puts together a team with all specialist competencies needed to give the client the best solution to their problem. This may require the involvement of M&A or sector-specific competencies or the like. Bech-Bruun always works as one team.’

‘I have worked with several partners at Bech-Bruun. For the last year, I have mainly worked with Søren Christensen Volder in the field of in-court restructurings. Søren is outgoing, market-oriented, good at relationships, good at finding solutions to complex issues and hardworking. Further, he is a really good and friendly guy.’

‘Very knowledgeable, solution-oriented and efficient team. Involved in all types of cases within this sector.’

‘Troels Truxen, Anders Hauge Gløde and Anders Hoffmann Kønigsfeldt are all solution oriented and easy to work with in complex matters.’

Key clients

Danske Bank A/S

Nordea Bank Denmark A/S

Nykredit A/S

Sydbank A/S

The Danish Travel Guarantee Fund

Jyske Bank A/S

Sparekassen Kronjylland A/S

Skjern Bank

ATP

Lønmodtagernes Garantifond

The Danish Growth Fund (Vækstfonden)

Work highlights

  • Acting as co-administrator of Daurehøj Erhvervsbyg A/S in a bankruptcy.
  • Assisted Maribo Sakskøbing Kraftvarmeværk A/S with its company restructuring.
  • Acting as administrator of Thor Shipping A/S and Sofia Shipping A/S in bankruptcy, representing a majority of creditors.

DLA Piper Denmark

DLA Piper Denmark has developed a specialist Nordic region restructuring and insolvency group, led by Henrik Sjørslev, that focuses primarily on cross-border financial restructuring mandates. It advises clients on insolvency matters arising out of the real estate and aviation sectors as well as handling issues in the agricultural sector; Trine Hasselbalch focuses on the latter. The group is instructed by financial creditors as well as public sector creditors, suppliers and corporate debtors.

Practice head(s):

Henrik Sjørslev

Other key lawyers:

Trine Hasselbalch; Per Buttenschøn; Per Astrup Madsen; Jørgen Flodgaard

Testimonials

‘Innovative solutions to rescuing insolvent companies and saving jobs in the midst of the pandemic crisis.’

‘Responsive, fair and multifaced skills that embrace not only insolvency issues but also commercial and strategic issues.’

‘The team is involved in a variety of cases pertaining to the Danish Guarantee Fund for Non-life Insurers and has thereby developed a unique insight in the winding up of insurance companies.’

‘Henrik Sjørslev is very knowledgeable and able to come up with solutions to almost all problems.’

‘DLA Piper is large in Denmark and has an international approach to the tasks that no other law firm has in Denmark. In addition, their network ensures an international perspective. DLA Piper is among the leading lawyers in M&A and Insolvency.’

‘I know several of the insolvency lawyers in DLA Piper, but this year I have had assignments and meetings with Trine Hasselbalch. Trine is a very proactive lawyer who cultivates relationships with clients and other advisers. Trine is professionally skilled and always has an answer to complex issues. In addition, Trine is a pleasant person.’

Key clients

Jet Time A/S

Tribe Hotel Management Danmark A/S

Karma Sushi ApS, Taqueria ApS and Dan Gastro ApS

B. Nygaard Sørensen A/S

Tommy Hangaard in Bankruptcy

Anker Hansen & Co. A/S

Repeat Fitness

Sydbank A/S

Primera Air Scandinavia A/S

Copenship Group

The ATP Group

PFA Invest

SEB Invest

AB Invest

Kids Multibrand of Denmark ApS

Work highlights

  • Advising Jet Time A/S on an out-of-court restructuring involving the pre-packed sale of business and planned subsequent bankruptcy of the major Danish airline.
  • Advising Repeat Fitness on the sale of its chain of fitness centres under Covid-19 lockdown through in-court restructuring.
  • Advising Karma Sushi ApS, Taqueria ApS and Dan Gastro ApS on the drop down of businesses of nationwide restaurant chains and their supply company right after bankruptcy orders of all companies and subsequent sale of shares.

Gorrissen Federspiel

Gorrissen Federspiel is well known for handling the largest restructurings and bankruptcy matters in Denmark. The team has a strong financial sector focus, acting for individual banks and banking syndicates as well as the Danish Tax Authorities. As a testament to the group’s strong capabilities, practitioners are regularly appointed to act as trustees and administrators in connection with bankruptcies and restructurings, including international out-of-court restructurings. The team has substantial expertise across several industries, with co-head John Sommer Schmidt focusing on retail and real estate matters, while fellow co-head Morten Hans Jakobsen handles issues within the aviation, shipping and transportation industries. Lars Grøngaard and Preben Jakobsen are also recommended.

Practice head(s):

John Sommer Schmidt; Morten Hans Jakobsen

Other key lawyers:

Lars Grøngaard; Preben Jakobsen

Key clients

Danske Bank A/S

Nordea Bank Denmark A/S

Vækstfonden A/S

SEB Denmark A/S

Nykredit A/S

Swedbank AS

Realkredit Danmark A/S

Jyske Bank A/S

DNB Bank A/S

Work highlights

  • Assisted Scanleasing Danmark A/S, one of the largest Danish car leasing companies in Denmark, with its bankruptcy.
  • Advised Aviator Airport Services on its restructuring and subsequent bankruptcy.
  • Acting as court-appointed trustee for ACT Global A/S, a large Danish R&D company investing in the development of Nano technology for industrial cleaning and disinfection purposes.

Kromann Reumert

Based in both Copenhagen and Aarhus, Kromann Reumert has a stellar client base consisting of all major Danish banks, including Danske Bank and Nordea, as well as foreign banks, private equity houses and investment and hedge funds. Practice co-head Christian Jul Madsen is frequently appointed as a restructuring administrator in restructuring and bankruptcy proceedings, while fellow co-head Teis Gullitz-Wormslev regularly assists with the sale and purchase of businesses in financial distress, as well as acquisitions and transfers of portfolios of distressed debts. In February 2021, Søren Aamann Jensen left the firm to join Accura Advokatpartnerselskab.

Testimonials

‘A very efficient team – always available with short notice. Always at hand if you, the creditor, have any questions. Daily if not hourly updates on new cases and after a while weekly updates with information also on time spent.’

‘Very good combination of lawyers who have all the legal remedies combined with a strong business flair.’

‘This is a very professional team with very great competence and ability to enter into a collaboration with other parties involved.’

‘The partners have a great deal of knowledge and insight and the ability to bring their competencies into a case for the benefit of the case.’

Key clients

Danske Bank

Nordea

Nykredit

Jyske Bank/BRF Kredit (Jyske Realkredit)

Finansiel Stabilitet

Sydbank

SparNord Bank

Vækstfonden

EKF

Ringkjøbing Landbobank

Work highlights

  • Advising the largest financial creditors and acting as administrator on the Scanleasing bankruptcy.
  • Advising the largest financial creditor and acting as restructuring administrator for PWT Group.
  • Advising the largest financial creditor and acting as administrator of Kongsbak Lassen (in bankruptcy), selling the business in the process.

Poul Schmith

Poul Schmith‘s sizeable restructuring and insolvency practice group handles a wide range of mandates, regularly assisting with large-scale matters that involve debt collection proceedings and bankruptcy administrations. The group is also adept at handling cross-border insolvencies and multi-jurisdictional asset recovery work. As the Danish government’s key adviser, the firm has extensive experience in the public sector but has been increasingly acting for private sector clients. Practice head Boris Frederiksen handles litigation and is praised for being ‘one of the most impressive lawyers of his generation’. For expertise in asset recovery work, Cathrine Wollenberg Zittan is recommended.

Practice head(s):

Boris Frederiksen

Other key lawyers:

Jesper Saugmandsgaard Øe; Rune Tandgaard Derno; Morten Plannthin; Cathrine Wollenberg Zittan

Testimonials

‘Outstanding practitioners combining great command of the details of the matter with astute strategic capabilities. Very pleasant to work with. Realistic expectations.’

‘The team has vastly more experience than any others in the field. To me, the go to team in Denmark. Superb knowledge not only of the law, of course, but deep industry experience and the history to predict outcomes with rare accuracy.’

‘Boris Frederiksen: one of the most impressive lawyers of his generation, in and outside Denmark. Unflappable, plays the long game and sees the big picture, while maintaining a surprising recall of facts that most of us working on the same case have long forgotten. Also, enjoys what he does and manages to convey that to his team, which inspires huge respect and loyalty.’

‘This law firm has a very high level of competencies in many areas. We experience a great ability to get the right competencies brought into play at the right times, so we get an optimal case process with good results.’

‘The partners we work with are typically insolvency law specialists. They have a great deal of insight and the ability to bring all competencies into play to solve a case. At the same time, there is a great deal of support from specialists in the law firm who cover the partner.’

‘Cathrine Wollenberg Zittan: her ability to retain information and run what can only be described as a massive legal team while still being so approachable is a real skill. He ability to digest information and apply the law to it is second to none.’

Key clients

The Danish Tax Authorities

The Employees’ Guarantee Fund

The Commissioners for Her Majesty’s Revenue & Customs

Jyske Bank

Nykredit Bank

Nordea A/S

The Danish Guarantee Fund for Non-life Insurers

The Danish Financial Supervisory Authority

Vækstfonden

Danske Bank A/S

Sydbank A/S

The Travel Guarantee Fund

Work highlights

  • Advising the Danish tax authorities on the recovery of unjustified refunds of withheld dividend tax for an amount of total DKK12.7bn.
  • Appointed by the Danish FSA as liquidator in 2018 for Qudos Insurance, a Danish insurance company with activities in more than 10 countries, assets in excess of DKK1.5bn and around 500,000 policyholders.
  • Assisting the Danish Ministry of Taxation in relation to the development of a new IT system for collection of taxes and assessment of claim validity and data quality in respect of claims that have been transferred to the Danish tax authorities in its capacity as debt collection authority.

Accura Advokatpartnerselskab

Accura Advokatpartnerselskab has strengthened its restructuring and insolvency practice by developing M&A restructuring expertise as a supplementary business area. In March 2021, the group was augmented by the arrival of Søren Aamann Jensen and his team from Kromann Reumert. The team is well-known for its significant transactional focus, assisting international financial institutions as well as clients in the domestic financial sector including banks, accounting companies and pension funds. Other areas of expertise include avoidance proceedings and insolvency litigation.

Practice head(s):

Søren Aamann Jensen

Other key lawyers:

Charlotte Damsbo Lose

Key clients

Danske Bank A/S

Sydbank A/S

Finansiel Stabilitet

Realkredit Danmark A/S

Nordea Bank A/S

Jyske Bank A/S

Skandinaviska Enskilda Banken (SEB)

Nykredit Bank A/S

Spar Nord A/S

Sparekassen Kronjylland

Work highlights

  • Assisted the shareholders of Gefion Insurance with letting the company enter solvent liquidation and carry out a solvent run-off of the business and insurance portfolio to the benefit of the policyholders, creditors and shareholder. Gefion Insurance is now in bankruptcy proceedings.
  • Appointed trustees of Shopping Centre Kronen after the former management filed a petition for bankruptcy, handling the day-to-day operation of the centre in collaboration with the centre administrator, which has included navigating through the current Covid-19 crisis, while negotiating a sale of the properties.
  • Assisted Music Retail A/S after it declared bankruptcy, acting as trustee and handling the realisation of the company’s assets in the form of the store in Copenhagen.

Bruun & Hjejle

Bruun & Hjejle handles complex, high-stakes insolvency issues, with team members often appointed as administrators by The Danish Debt Collection Agency. Led by Henrik Selchau Poulsen, the group regularly assists with restructuring and insolvency cases that involve real estate assets and is well equipped to handle bankruptcy litigation proceedings. Rasmus Moliin is also recommended, with niche expertise in matters concerning distressed real estate properties.

Practice head(s):

Henrik Selchau Poulsen

Other key lawyers:

Rasmus Moliin

Key clients

Danske Bank

Realkredit Danmark

Jyske Bank

Sydbank

Spar Nord Bank

Vækstfonden

PensionDanmark

PenSam

Danica

Work highlights

  • Appointed as sole administrator in the Hesalight bankruptcy.
  • Appointed as administrator in the Thomas Cook Airlines Scandinavia A/S bankruptcy, also responsible for looking into potential liability for management, potential avoidance claims examining filed claims (approx. DKK17bn).
  • Appointed as administrator of the House of Amber bankruptcies having flagship stores in Copenhagen, subsidiary companies and shops in Shanghai, Beijing, Hong Kong, Macau, Dubai and Japan.

Horten

Horten‘s restructuring and insolvency team specialises in creditor representation, distressed M&A and non-performing loans, compulsory liquidations and bankruptcies. Members of the team are regularly appointed as trustees of the bankrupt estates of businesses, often at the request of the Debt Collection Agency. Led by Piya Mukherjee, the team has extensive experience as administrators of in-court and out-of-court restructurings in Denmark; Mukherjee also handles issues relating to insolvency practitioner rights in insolvencies. Bo Christensen represents creditors in litigation proceedings.

Practice head(s):

Piya Mukherjee

Other key lawyers:

Bo Christensen; Nicolai Dyhr; Ulrik Holsted-Sandgreen; Jan Bech; Flemming Bastholm

Testimonials

‘Very acquisitive team and good at positioning themselves in many cases.’

‘Bo Christensen is one of the best in the business. He gets things done in a fast, effective and pragmatic way.’

‘The team is highly responsive and always with a positive and pragmatic touch on deliveries.’

‘Flemming Bastholm is extremely likeable and to the point – not trying to make complicated matters more complicated, however, always seeking a solution.’

‘Horten possesses a number of unique competencies that we can use in connection with companies that are in crisis and where we prioritise developing the companies into healthy companies, but where we can end up in bankruptcy and thereby improve the bank’s position.’

‘The partners we work with have the qualifications to find the good solutions that benefit both the bank and the customer. It is also important that the lawyer can enter into a cross-cutting collaboration between bank, client and adviser.’

‘They are very competent, experienced and have an international understanding that helps deliver great service.’

‘Jan Bech is just a great lawyer and very user friendly.’

Key clients

Arbejdernes Landsbank

Finansiel Stabilitet A/S

Gable Insurance AG in bankruptcy

Jyske Bank

LEGO System A/S

Nordea Bank

Nykredit Bank

Ringkjøbing Landbobank

Saxo Bank

Sparekassen Sjælland

Spar Nord Bank

Sydbank A/S

The Danish National Debt Collection Agency

Tvilum

Vestjysk Bank A/S

Vækstfonden (the Danish Growth Fund)

Work highlights

  • Appointed as ad hoc trustee on behalf of LEGO System A/S and other suppliers to TOP-TOY A/S, the largest chain of toy stores in Scandinavia and Germany, to investigate potential management liability and the role of the syndicated banks as well as the administration of the €100m floating charge prior to the bankruptcy of TOP-TOY.
  • Advising a consortium of secured lenders in respect to the renegotiation of the facility to an international group in the aviation sector.
  • Advising an international energy and commodity trading company in respect of a secured loan to a Danish sector company, safeguarding security structure and lender risks in insolvency scenarios.

Lundgrens

Advising a broad range of clients, Lundgrens represents both borrowers and lenders in out-of-court restructurings, debt for equity swaps, bankruptcy proceedings and general insolvency and claw-back litigation. Practice head Kristian Gustav Andersson acts as trustee to major Danish banks, advising on the full spectrum of issues, including assisting with company pledges and other securities mandates. Pernille Bigaard and Louise Krarup Simonsen joined from Skau Reipurth & Partnere in 2022.

Practice head(s):

Kristian Gustav Andersson

Other key lawyers:

Anne Hansen-Nord; Pernille Bigaard; Louise Krarup Simonsen

Testimonials

‘My experience with Lundgrens is that they are deeply interested in finding sustainable solutions for all parties involved. They have a unique team. They deliver great solutions and they are willing to “walk the last mile” to create the right solution – even though it will cost some extra time.’

‘I have worked with Kristian Andersson who has shown great skills within his line of knowledge.’

‘Hands-on senior attention. Deep knowledge.’

‘Pernille Bigaard is a hurricane meant in a positive way. Always good at positioning herself on the right cases.’

‘Pernille Bigaard has been one of the key persons in the Danish insolvency/restructuring market over the past 25 years. Louise Krarup Simonsen is very skilled and thorough in all matters she handles.’

‘Louise Krarup Simonsen is simply outstanding, putting the clients first, always.’

‘Pernille Bigaard is one of the most well known insolvency practitioners in Denmark with many years of experience.’

Key clients

Gadegaard group

Early Warning

Sydbank A/S

Danske Bank A/S

Jyske Bank A/S

Spar Nord A/S

The Danish Debt Collection Agency

Grant Thornton

Vækstfonden

Indkøb DK A/S

PL 2020 A/S (formerly Tømrerfirma Bjørn Svendsen A/S)

Nordic Trustee & Agency AB

PWT Holding A/S

Dalle Valle

Trend Accessories ApS under konkurs

Viking One ApS

Hines Interests Limited Partnership

Deloitte

DEAS A/S

Nordea Bank Danmark A/S

Tryg Garanti

Work highlights

  • Acting as trustee in PWT Holding A/S under bankruptcy comprising handling distressed bonds as well as assisting in connection with the issue of new bonds by the PWT group in substitution of the distressed bonds.
  • Appointed as trustee in the bankruptcy estate of Dalle Valle involving 13 cafes and restaurants.
  • Assisting with pre- and post-bankruptcy issues for the Gadegaard healthcare group, including scanning the market for divestment opportunities and subsequently handling the replacement of patients etc.

Mazanti-Andersen

Mazanti-Andersen is prominent in its ability to handle complex, cross-border restructuring and insolvency matters, acting on behalf of clients with businesses and assets throughout Europe and the US. The group is also regularly instructed on liquidations and bankruptcies by major Danish financial institutions. Practice head Peter Wedel Ranch Krarup and Henrik B Sanders are regularly appointed by the Maritime and Commercial Court of Copenhagen as permanent trustees and official receivers.

Practice head(s):

Peter Wedel Ranch Krarup

Other key lawyers:

Lars Rasmussen; Henrik B Sanders

Testimonials

‘The insolvency/restructuring team at Mazanti has a strong focus on both distressed M&A and insolvency/restructuring litigation work.’

‘Henrik B Sanders has a very solution-focused and value-creating approach to all matters he is handling.’

‘Peter Krarup was very hands-on and showed not only strong theoretical knowledge but he was also very practical.’

Key clients

Nykredit A/S

Danske Bank A/S

The Maritime and Commercial Court of Copenhagen

Arnold Busck A/S

Jet Time A/S

Quint ApS

Nomess Copenhagen ApS

Ejendomsselskabet Sandgården ApS

PASPX ApS

The Roll Group

Thyra Danebod

Work highlights

  • Appointed as ad hoc trustee in Ejendomsselskabet Sandgården ApS in bankruptcy with the task to resolve an internal dispute between the appointed other three trustees in the bankruptcy estate.
  • Appointed as co-trustee of the estate of Arnold Busck A/S on the first substantial retail bankruptcy in Denmark owing to the Covid-19 outbreak.
  • Appointed as co-trustee of the estate of Jet Time A/S. This was the first Covid-19 related airline bankruptcy in Denmark.

Plesner

Plesner‘s restructuring and insolvency team is regularly involved in large-scale issues that have complex banking and finance aspects, and counts major Danish and international banks, investors and other creditors on its client roster. Practice head Lars Skanvig has extensive experience in handling distressed financial engagements and is chairman of the group of Insolvency Lawyers of the Court. ‘Dedicated insolvency expert’ Michala Roepstorff is also recommended. Mandates involving digitised assets, such as blockchain technology, is a new area of focus for the group.

Practice head(s):

Lars Skanvig

Other key lawyers:

Michala Roepstorff

Testimonials

‘Good knowledge of insolvency law; commercial; responsive; excellent English language capabilities.’

‘Michala Roepstorff is a dedicated insolvency expert.’

‘Very well structured advice delivered in a proactive manner.’

‘Plesner Law Firm has a broad competence in insolvency law, which we use. Their field of expertise covers a wide range of industries.’

‘They uncover our needs in relation to bringing the companies out of their problems but can at the same time prepare for any bankruptcy and help reduce losses for the bank.’

‘Plesner is very good at insolvency in Denmark and has a very good understanding of insolvency problems in other countries.’

Key clients

O.W. Bunker A/S, O.W. Bunker & Trading A/S, O.W. Supply & Trading A/S, O.W. Tankers A/S, Wrist Marine Suppliers A/S, Dynamic Oil Trading Holding A/S, Remote Fuel Services ApS and O.W. Global Trading A/S

Burmeister & Wain Energy A/S

TravelCo Nordic A/S

Danske Bank A/S

Mobylife

Europharma.DK ApS

Incentive A/S and Incentive Financial Services A/S

Hellerup Finans A/S

VVD II A/S (Nordjysk Lift A/S)

Thoma Byg A/S

Work highlights

  • Advising O.W. Bunker Group on bankruptcy proceedings, involving large-scale litigation funding and cross-border collection measures.
  • Advising Burmeister & Wain Energy A/S on proceedings involving a disqualification case against a number of former board members for having proven themselves unfit to be managing a company for a certain period of time.
  • Acted for TravelCo Nordic A/S (Bravo Tours Nordic) in restructuring proceedings.

Skau Reipurth

The ‘very skilled and professional team’ at Skau Reipurth handles pre-insolvency restructurings for businesses and owners as well as distressed M&A. Fellow co-head Anders Ørskov Melballe primarily advises banks on the full range of issues, including the restructuring of non-performing loans and creditor rights. Former practice co-heads Pernille Bigaard and Louise Krarup Simonsen departed to Lundgrens in 2022.

Practice head(s):

Anders Ørskov Melballe

Testimonials

‘Anders Melballe has an extraordinary understanding of dealing with complex issues, and his ability to see through complicated issues and navigate this environment is quite striking.’

‘Always timely and to the point. If you really need a problem solved, they’re there for you.’

‘Very dedicated and service-minded – fair price level.’

‘It is a relatively small but very experienced insolvency practice. The firm must be noted for its commercial skills. They are very good at finding sustainable commercial solutions in restructuring cases.’

Key clients

Danske Bank A/S

Sparekassen Vendsyssel A/S

Handelsbanken A/S

Jyske Bank A/S

Vækstfonden

Nordea Bank

Nykredit

Sydbank

The Danish Debt Collection Agency

Andersen Partners

Andersen Partners has extensive experience acting as reconstruction administrators and trustees in bankruptcies. It also advises on solvent liquidations, compulsory dissolutions and corporate restructurings, including capital infusions or spin-off of activities. Led by Jan Bruun Jørgensen, the group advises both creditors and debtors and adopts a ‘practical approach to the cases combined with high professionalism.’

Practice head(s):

Jan Bruun Jørgensen

Other key lawyers:

Rikke Licht Bøtcher; Anders Hvidberg Plum

Testimonials

‘Andersen Partners cover our needs broadly across many industries and complexities. We experience the company as competent, flexible and cooperative.’

‘Our collaboration is unique and is based on many years of working together, where we know each other’s competencies and attitudes, whereby we in many situations save important time in the individual case, which often has great significance for a good outcome.’

‘They act fast and they are flexible. They have a practical approach to the cases combined with high professionalism.’

Elmann

Elmann advises its clients within all areas of insolvency law, including debt recovery issues, restructurings and winding-up procedures as well as litigation and arbitration. The team has developed significant expertise in matters regarding housing co-operatives, with practice co-head Finn Lynge Jepsen representing several of the largest co-operatives in Denmark. Christian Tornvig Jensen jointly leads the team.

Practice head(s):

Finn Lynge Jepsen; Christian Tornvig Jensen

Testimonials

‘Skilled and very pragmatic. Always a pleasure to work with them.’

‘Chistian Tornvig Jensen is the essence of the strength of the team. Pragmatic, skilled.’

‘The team at Elmann are the ones that I would go to if I had a need for a second opinion on an insolvency matter. They are especially strong within the field of insolvency litigation.’

‘Finn Jepsen is the team leader and he is without any doubt the best insolvency litigator in Denmark.’

Key clients

Creditors, lease companies and 120 employees from Primera Air Scandinavia A/S

Creidtors of Nordic Ventilation ApS and Omnivent Finance A/S and Danish Tax authorities

Holberg Fenger Invest A/S

Jyske Bank A/S

Nykredit Bank A/S

The Danish Growth Fund

Nordea Bank Danmark

Arbejdernes Landsbank and AL Finans A/S

Deminor International SCRL including 21 institutional investors such as JP Morgan, Schroders ets

Danish Tax authorities

Work highlights

  • Actd as liquidator in the case of bankruptcy of  Danish airline company, Primera Air Scandinavia A/S which had around eight aeroplanes and around 120 employees.
  • Representing Deminor International SCRL including 21 institutional investors in large claims and several international investors as plaintiffs. The lawsuit is filed together with several other law suits against the former management, the auditors etc.
  • Acted as trustee for Arbejdernes Landsbank and AL Finans A/S in a case involving the handling of an ongoing business with more than 35 employees working on more than 10 different construction sites in Denmark.

Haugaard | Braad

Anders Braad heads up the insolvency practice at Haugaard | Braad, assisting clients with domestic bankruptcy and restructuring cases as well as other creditor arrangements. It also has experience representing clients in compulsory liquidation proceedings. The group is highly specialised in handling the insolvent liquidation of large-scale agricultural entities, including pig farms, dairy farms and biogas companies.

Practice head(s):

Anders Braad

Other key lawyers:

Rasmus Haugaard

Testimonials

‘Anders Braad and Rasmus Haugaard have an appreciative way of handling a case and stand with credibility that gives a good starting point.’

‘High standard and engagement combined with a very personal and service-minded treatment.’

‘The team is highly professional.’

Key clients

Spar Nord Bank A/S

Jyske Bank A/S

Jutlander Bank A/S

Nordjyske Bank

Sparekassen Vendsyssel

Work highlights

  • Handling the insolvent estate of Ole Bouet.
  • Handling the insolvent estate of Kasper Flarup – agricultural farm.
  • Handling the insolvent estate of JOKA Biler ApS including a group of subsidiaries which all collapsed.

Holst Advokater

Holst, Advokater‘s insolvency and restructuring practice was strengthened by the arrival of Andreas Kærsgaard Mylin and his team from Accura Advokatpartnerselskab in October 2021. Mylin focuses on restructuring processes and acts as trustee in bankruptcy cases. The group has a ‘very strong position’ in insolvency matters in the construction and real estate sectors and also receives mandates from a number of financial institutions. Based in Aarhus, Henrik Steen Jensen jointly leads the group with Mylin.

Practice head(s):

Henrik Steen Jensen; Andreas Kærsgaard Mylin

Other key lawyers:

Søren Skov; Anders Roug; Rene Møller-Olsen

Testimonials

‘The team is skilled, professional and delivers high quality. They have vast experience within construction bankruptcies and with the arrival of Andreas Kærsgaard Mylin they will add more diversity in the bankruptcy areas they will cover in the future.’

‘Søren Skov is without doubt a person to look out for in the future.’

‘The team has a very strong position in restructuring work in the construction and real estate sector. Holst is primarily based in Aarhus and with the lateral hire of Andreas Kærsgaard Mylin to the smaller Copenhagen office the firm has strengthened its profile in the general insolvency/restructuring market in Denmark.’

‘Henrik Steen Jensen and Søren Skov are highly specialised within the construction and real estate business and are both based in Aarhus. Andreas Kærsgaard Mylin is very skilled and highly regarded within the insolvency and restructuring market in Denmark.’

Key clients

Atradius, Filial af Atradius Crédito y Caución S.A. de Seguros y Reaseguros, Spanien

Danske Bank A/S

Djurslands Bank A/S

Euler Hermes Danmark, Filial af Euler Hermes S.A, Belgien

Finansiel Stabilitet

Jyske Bank A/S

Nordea Danmark, Filial af Nordea Bank Abp, Finland

Nykredit Group

Realkredit Danmark A/S

Skandinaviska Enskilda Banken (SEB)

Spar Nord Bank A/S

Sparekassen Kronjylland

Sydbank A/S

Tryg Garanti

Vestjysk Bank A/S

Moalem Weitemeyer

Moalem Weitemeyer‘s restructuring and insolvency department provides advice relating to distressed M&A and also acts in dispute resolution and arbitration proceedings. Major banks and financial institutions make up the firm’s impressive client base, including Danske Bank and Nordea Bank. Practice head Thomas Weitemeyer has experience representing former members of management in cases regarding the imposition of disqualification orders.

Practice head(s):

Thomas Weitemeyer

Key clients

Nordea Bank Danmark A/S

Danske Bank A/S

Garmin Danmark A/S

Nomeco A/S

AKP Group A/S

Sydbank A/S

Shoe the Bear ApS

LLarsen Watches A/S

Presidents Institute

NJORD Law Firm

NJORD Law Firm leverages its international network to advise on local and foreign insolvency mandates. The team acts on behalf of foreign creditors and has significant experience in managing assets abroad. Anders Hammer Hansen leads the team, which is also instructed by Danish banks and financial institutions as well as several trade unions.

Practice head(s):

Anders Hammer Hansen

Other key lawyers:

Malene Eigtved; Jørgen Erik Frandsen; Torben Krath

Testimonials

‘NJORD is a very versatile company where clients will meet lawyers who can help with most of their everyday legal issues.’

‘Torben Krath is a very skilled and pleasant colleague to work with.’

‘The team is efficient, likable and is excellent at coming up with commercial solutions.’

‘Anders Hammer is an excellent leader and knows how to bring the team up to speed.’

Key clients

Jyske Bank

Jyske Finans

Nykredit

Sydbank

Vækstfonden

Sundgaard Advokater

Insolvency boutique Sundgaard Advokater advises on the full spectrum of insolvency matters, including turnarounds, restructurings and bankruptcy estates. In addition to offices in Copenhagen, the firm has expanded its geographical reach to Hillerød in order to increase its presence in the SME sector. Practice leadership is split three ways between Gunvor Sundgaard Happe, Agnete Brus Krusell and Thomas Torré Christiansen.

Practice head(s):

Gunvor Sundgaard Happe; Agnete Brus Krusell; Thomas Torré Christiansen

Key clients

SDK Installation ApS

Advokatfirmaet C.S.C.R. ApS

Abildhill ApS

MONT DOR ApS

Protesekompagniet A/S

Electro Energy A/S

Bowa ApS

HJR Murer ApS

Taxivognmand Arne Christensen

Work highlights

  • Appointed trustee in the estate of Advokatfirmaet C.S.C.R. ApS, a Copenhagen based law firm, in bankruptcy.
  • Assisting Vognmand Arne Christensen with its restructuring under the new restructuring rules.
  • Appointed trustee for MONT DOR ApS in one of the first ever Danish bankruptcies that came to be as a direct result of the Covid-19 pandemic.