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Restructuring in Germany

Clifford Chance

The 'outstanding' restructuring practice at Clifford Chance offers advice on financial as well as operational restructurings. Representing banking consortia is a focus of the practice's portfolio. The team handles negotiations of mass credits, lender-led solutions, insolvency litigation and distressed M&A transactions, among others. The group pursues a multidisciplinary approach and jointly creates experienced teams with finance, M&A, tax and litigation experts, if required, and regularly cooperates with the firm's international network. Restructuring scales range from international corporations to medium-sized companies. The team also assists with all matters of the new Covid-19-legislation, including the allocation of KfW-loans or government subsidies. Practice head Stefan Sax, who is 'pragmatic, reliable, economically thinking', advises companies affected by liquidity difficulties, their managers as well as domestic and international financial institutions on insolvency law matters. Cristina Weidner, who has a 'very pleasant handling and is legally excellent', has experience in major insolvency proceedings and complex financial restructurings as well as sector knowledge in automotive suppliers. Counsel Joachim Ponseck joined Baker McKenzie in January 2021 to establish a new restructuring practice under his leadership.

Practice head(s):

Stefan Sax

Other key lawyers:

Cristina Weidner


‘Outstanding restructuring team; Able to develop pragmatic and convincing solutions even in complex cases and to represent them to the relevant parties involved.’

‘Stefan Sax: outstanding restructuring lawyer; pragmatic, reliable, economically thinking. Dr Cristina Weidner: very pleasant handling and legally excellent.’

‘First address in Germany for restructuring and reorganisation. Also excellent knowledge in insolvency situations.’

‘Dr Stefan Sax belongs to the absolute elite of lawyers working in the restructuring and reorganisation sector. He is characterised by excellent knowledge, very good communication and always fair appearance. It’s always good to have him by your side.’

‘Large distressed loan practice with enough capacity and state of the art advice for very large cases.’

‘Dr Stefan Sax – a ‘master of his trade’. He always has the banking industry (his clients) under control, sees developments in advance and is extremely reliable. Absolutely top line-up.’

‘Stefan Sax: Pragmatic, hands-on, innovative and equipped with the ability to bring negotiations to an end. Cristina Weidner: Good mediator with the necessary attention to detail.’

‘Stefan Sax and Cristina Weidner: Their ability to communicate clearly during the entire process and to take on external perspectives is palpable. When it comes to internal decision-making processes, we really appreciate the ability to turn complex legal contexts into something easy to understand.’

Gleiss Lutz

The restructuring practice at Gleiss Lutz pursues a full-service approach, covering all related matters such as employment, corporate and tax law, among others. The 'extremely well-positioned' team advises on financial restructurings and refinancings, with the restructuring of loans another key element of the group. In other work, the team handles insolvency plan procedures, contestation as well as liability claims and asserts claims in and out of court; here, both insolvency administrators and shareholders are represented. The 'incredibly experienced and exceptionally good' practice head Andreas Spahlinger, as well as Ralf Morshäuser, both specialise in M&A transactions and corporate law and also advise on the liquidation of unprofitable business units in need of restructuring. Matthias Tresselt, 'reliable, friendly, pragmatic and assertive', specialises in insolvency law, insolvency-related corporate law as well as in and out of court restructurings. Helge Kortz mainly handles refinancings and loan financings. Alexander Nagel advises on restructuring and insolvency law, particularly at the intersections with banking and corporate law.

Practice head(s):

Andreas Spahlinger


‘The Gleiss Lutz restructuring team – led by partners Dr Andreas Spahlinger and Dr Matthias Tresselt – is a benchmark. All of the team’s lawyers are highly qualified and experienced. It should be emphasised that the team not only has the high level of professional and theoretical competence expected from a large law firm, but above all also has an eye for practice. This is unique.’

‘Dr Andreas Spahlinger: incredibly experienced, extremely well networked and recognised by everyone involved. Always balanced and modest in appearance. Dr Matthias Tresselt: Legally brilliant, humane, extremely educated.’

‘Like few others, Andreas Spahlinger is pragmatic, exceptionally experienced, creative and a real team player. Demanding restructurings can be mastered with him and his extremely committed team. When it comes to distressed disinvestments, Ralf Morshäuser is the best. Years of M&A experience and a decisive eye for timing and excellent commercial competence with excellent negotiating skills distinguish him. Together, where necessary, the two are unbeatable in the German market.’

‘Dr Spahlinger and Dr Tresselt: two outstanding partners in the field of restructuring; pragmatic, thorough, creative, assertive.’

‘Dr Matthias Tresselt: a reliable, friendly, pragmatic and assertive colleague. ‘

‘Extremely well-positioned distressed advisory team with excellent capacities; Top three law firm in the relevant market.’

‘Dr Andreas Spahlinger – one of the best. Has already experienced everything and is calm itself. Matthias Tresselt – very strong insolvency law competence and very good support.’

Work highlights

  • Senvion: Advice in self-administration in the process of selling the company or parts of the company under a complex structure of various insolvency plans and sales agreements. As a result, the European onshore service business and the rotor blade production facility in Portugal were sold to the German-Spanish group Siemens Gamesa Renewable Energy.
  • (A) Adhoc group of promissory note creditors and (B) Investors Robus and Whitebox of Gerry Weber International AG: Advising an ad hoc group of promissory note creditors of Gerry Weber International AG in connection with the planned restructuring of Gerry Weber International AG; the mandate ended when the insolvency proceedings began. Also advised the investors of Gerry Weber International AG, Robus and Whitebox, during the insolvency proceedings.
  • Iron man: Main adviser to the automotive supplier on the planned out-of-court restructuring (March-July 2019) including preparation of the insolvency proceedings and advice to the insolvency administrator Joachim Exner since the insolvency (July 2019) on the restructuring in the course of the insolvency proceedings.

GÖRG Partnerschaft von Rechtsanwälten mbB

GÖRG Partnerschaft von Rechtsanwälten mbB combines legal advice and administration and advises on all aspects of the company in crisis. The team handles restructurings with cross-border aspects; assists debtors, banks, investors and creditors with distressed M&A transactions; takes on the role of double-profit trustee; implements trusteeship corporation restructurings on behalf of shareholders or creditors; or represents creditors in creditor committees. The practice also assists with the enforcement of claims before and outside of courts. When required, large multidisciplinary teams are created, including specialists such as accountants, tax consultants or financial advisers. Christian Bärenz heads the team and has particular expertise in complex cross-border matters as well as M&A under insolvency law. Martin Stockhausen represents debtors, major creditors and shareholders, takes on executive roles and handles transactions. The expertise of Helmut Balthasar covers the intersection with financing and corporate law.

Practice head(s):

Christian Bärenz


‘Strong commitment to the customer, high level of economic competence, thinking ahead and thinking ahead instead of just answering questions.’

‘Dr Helmut Balthasar, team leader, veteran of restructuring advice for companies, excellent insolvency law specialist, maximum commitment for the client and achievement of goals, absolutely loyal to the client, accessible at all times (day and night), excellent mediator between managing directors and owners. Knows the mechanical and plant engineering industry and its special challenges in the crisis inside and out.’

‘Very good team – fast and precise.’

‘Strong senior team, which is very recognised in the market for advice on insolvency law.’

Key clients


Ambau GmbH

Auto Wichert GmbH

SONA BLW Präzisionsschmiede GmbH, SONA AutoComp GmbH

Euromicron AG


Laurèl GmbH

BONITA GmbH (Tochter Tom Tailor SE)

DER Touristik

Kirkland & Ellis International LLP

The focus of the restructuring team at Kirkland & Ellis International LLP is on financial restructurings, where the group makes use of restructuring tools, such as debt equity swaps or arrangement schemes. The group represents both creditors as well as debtors. Additionally, judicial and extrajudicial dispute resolution matters are part of the service offering. Leo Plank advises investors on high-yield debt and distressed debt, insolvencies, leveraged buyout financings and international restructurings, among others. Sacha Lürken has particular experience in distressed M&A transactions, company restructurings, financial restructurings as well as directors and officers liability insurance (D&O) matters. Wolfram Prusko and Bernd Meyer-Löwy assist with finance and loan restructurings as well as insolvency proceedings, among others.

Other key lawyers:

Wolfram Prusko

Latham & Watkins LLP

Latham & Watkins LLP's practice handles both operational as well as financial restructurings and thereby creates individual solutions for clients. Complex restructurings with cross-border aspects, distressed M&A transactions, refinancings, non-performing loans as well as liability and contestation claims are further key areas. The team often incorporates cross-practice expertise, in particular corporate, capital markets, banking and financing law as well as financial regulatory, litigation, employment law, merger control and tax law. Practice head Frank Grell, 'certainly one of the most experienced and brightest minds on the scene', advises on debt equity swaps, realisation of lien as well as insolvency plan procedures and represents in contestation and liability claims. 'Extremely strong negotiator and economic strategist' Jörn Kowalewski assists distressed companies, their managers, debtors, creditors, creditor committees and distressed investors with financial and operational restructurings and also handles distressed M&A as well as debt to equity transactions. 'Very creative thinker and negotiator' Ulrich Klockenbrink has expertise in complex restructurings, distressed M&A and enforcement scenarios.

Practice head(s):

Frank Grell


‘A well-staffed team around Frank Grell. Very strong assertiveness of individual partners.’

‘Outstanding distressed advisory team for debtors, financiers, investors, sponsors. Absolute TOP three team with very large capacity, top standing and excellent advice quality.’

‘Frank Grell – For years an absolute high performer with a sense of proportion, vision and reliability Dr Jörn Kowalewski – has a run at automotive and rightly so. Has his cases under control and consistently delivers top performance.’

‘What the Latham restructuring team led by Dr Jörn Kowalewski and Dr Ulrich Klockenbrink [has] is the analytical, strategic, negotiating and technical strength that is unbeatable on the market. Full service.’

‘Dr Jörn Kowalewski: Extremely strong negotiator and economic strategist, whoever mandates him does not need a financial adviser. ‘

‘Frank Grell: well connected in the market.’

‘The team is of the highest quality at every level and shows enormous commitment and teamwork.’

‘Frank Grell is certainly one of the most experienced and brightest minds on the scene.’

What makes Latham the leader in restructuring is the strength of the people behind it. I have worked a lot with Ulrich Klockenbrink & Team in the past and also currently. In contrast to other lawyers, they know how to set up processes and thus efficiently implement restructuring solutions.

Ulrich Klockenbrink provides you with 100% reliable restructuring advice. He is a very creative thinker and negotiator even in very complex situations. Big market leader also in large and international restructurings. He’s doing the deal.

Key clients

Achim Ahrendt as the insolvency administrator of S+K und REVA

Air Berlin

Centerbridge Partners

Partner of DSD Duales System Holding GmbH & Co. KG

Hüls AG

Leoni AG


Riverside Beteiligungs GmbH

Schlemmer Holding GmbH

Scholz Holding

Susquehanna International Group, LLP

Thomas Cook

Work highlights

  • Leoni AG: Comprehensive advice on the restructuring of Leoni AG, in particular on the restructuring of its financing on the basis of several financing instruments such as a syndicated loan, bilateral loans, promissory notes, factoring and sale-and-lease-back with a volume of over EUR 2 billion.
  • Air Berlin: Advising and representing Air Berlin and its insolvency administrator in examining and enforcing claims against Etihad in courts in Berlin and London.
  • Banking consortium: Advising the lenders of the listed TOM TAILOR Holding SE (TOM TAILOR) in connection with the financial restructuring and the new EUR 375 million senior facilities agreement with a term until 2022 as well as any Covid-19-related adjustments.

Allen & Overy LLP

The restructuring team at Allen & Overy LLP pursues a comprehensive approach by covering all sectors of restructuring and insolvency law. Further expertise exists in financing, corporate, employment, real estate, capital markets and tax law. An increase in instructions by insolvency administrators and trustees with regard to liability and contestation claims, led to a closer cooperation with the dispute resolution experts. The service offering is aimed at companies, managers as well as banks and investors and includes multi-tier financings through senior and mezzanine credit facilities, loans, bonds, high-yield bonds, derivatives, trust and equity structures, double-profit trusteeship agreements or debt equity swaps as well as joint venture structures. In May 2020, Franz Bernhard Herding and Sven Prüfer were appointed joint practice heads following a succession plan. Former head Peter Hoegen, who is appreciated for his 'many years of experience and network in the relevant area', continues to offer his advice as counsel. Walter Uebelhoer has particular expertise with regard to consortium credits as well as acquisition financings and frequently acts for banks and creditors.

Other key lawyers:

Peter Hoegen; Walter Uebelhoer


‘High level of client orientation, excellent work and acceptance by the stakeholders. Very good litigation and communication with everyone involved.’

‘Peter Hoegen: Many years of experience and network in the relevant area, goal-oriented and communicative. Open to content-related discussions, proactive in action.’

Key clients

Commerzbank AG

Enercon Gruppe


GERRY WEBER International AG

Hamm Reno Gruppe



Work highlights

  • GERRY WEBER: Advising the fashion manufacturer and retailer in connection with its restructuring.
  • ENERCON: Advising the global wind turbine manufacturer with headquarters in Aurich, East Frisia, on the complex refinancing of existing financial liabilities as part of a fundamental reorientation of the company.
  • European banking consortium: Advising on the insolvency of the German and English Fintyre companies as well as the restructuring of the Italian arm of the Fintyre Group.


Dentons' key elements include self-administrations and distressed M&A transactions, including debt transactions, double-profit trusteeships and restructuring partners as well as advising lenders, including the coordination of promissory note creditors. Andreas Ziegenhagen, European head of the restructuring practice, has an excellent reputation pertaining to trustee matters and other creditor-led restructuring solutions and has additional expertise in tax-related M&A, restructurings as well as insolvency, business tax, corporate, banking and accounting law; he frequently acts as general representative in self-administrations and is an accountant as well as tax consultant. Co-head Arne Friel advises on complex restructurings and has particular experience in insolvency-related transactions, including the acquisition of insolvent companies. In September 2020, Holger Ellers joined the team from Baker McKenzie; his focus is the intersection of restructuring, insolvency and corporate law as well as cross-border distressed M&A.

Practice head(s):

Andreas Ziegenhagen; Arne Friel

Other key lawyers:

Holger Ellers; Daniel Fritz; Dirk Schoene

Key clients

Germania Beteiligungsgesellschaft mbH

Air Berlin Finance BV


Grillo Werke AG

Schuldscheindarlehensgläubiger/promissory notes holder regarding IFA Group

Insolvenzverwalter ReiCo Spedition

DRK Kliniken Brandenburg-Thüringen gGmbH

Gerry Weber International AG

Losberger de Boer

Pickhardt & Siebert GmbH

Addfinity Testa Group

CRI Group / Mriya Group

Treveria F S.À.R.L.

Chemnitzer Freie Presse


DIHAG Holding GmbH

Work highlights

  • Weser-Metall GmbH and Harz-Metall GmbH: Support of the two group companies of the Franco-German Recylex group during the restructuring in self-administration.
  • IFA promissory note creditors: Representation in the development of a comprehensive plan for the rehabilitation of the ailing automotive supplier.
  • Mobisol: Support of the manufacturer of decentralised solar modules during the takeover by the French energy supplier ENGIE.


The restructuring and insolvency team at Linklaters pursues a full-service approach. Expertise from other practice groups is regularly included, in particular banking, corporate, M&A, capital markets, private equity, dispute resolution, supervisory as well as tax law. International teams at different offices jointly assist with cross-border projects. The focus is on both creditor-led as well as company-led restructurings, distressed M&A, bank resolution and insolvency litigation. Practice head Sven Schelo has 'comprehensive expertise in both restructuring and M&A' and regularly assists banks and creditors with insolvency matters, companies and affected parties with restructurings and also advises on distressed M&A as well as the restructuring of banks and financial institutions. Sabine Vorwerk advises creditors on debtor-related crisis and insolvency matters, including the enforcement of recovery claims, restructuring matters, as well as stockholders and investors in financial difficulties and insolvency.

Practice head(s):

Sven Schelo


‘High team strength. Outstanding expertise. International networking.’

‘Sven Schelo: Comprehensive expertise in both restructuring and M&A. Good accessibility and constant presence as well as responsiveness. Comprehensive knowledge of international law too.’


Noerr pursues a multidisciplinary approach by combining insolvency, financial as well as corporate expertise in national and cross-border restructurings. Insolvency proceedings and self-administrations, including insolvency protection proceedings, are key elements of the practice's restructuring work. The team around co-practice heads Martin Kleinschmitt and 'outstanding lawyer' Thomas Hoffmann negotiates settlement and standstill agreements, bridge financings and restructuring loans as well as the sale of insolvent companies or unprofitable business units and also takes on the role of double-profit trustee for the restructuring phase, if required. Economic advice is on offer via the Noerr Consulting AG, including expert opinions on restructurings through interim management and self-administrations in the course of judiciary restructurings. With 'excellent negotiating skills and tenacity on the buyer and seller side', Dorothee Prosteder has particular expertise in complex insolvency-related transactions. Simone Schönen advises both debtors and creditors and handles judicial and extrajudicial restructurings.

Other key lawyers:

Dorothee Prosteder; Simone Schönen


‘I can recommend Noerr as one of the top law firms in the insolvency area in Germany. My assessment results from various factors: (i) strong competence with regard to the analysis of complex insolvency law issues; (ii) Noerr regularly receives “high-profile” mandates in the insolvency area, which underlines the firm’s relevance in the market; and (iii) Noerr lawyers are generally very efficient and focused.’

‘Thomas Hoffmann is an outstanding lawyer in the insolvency area: He has a very in-depth knowledge and many years of practical experience, especially in the insolvency area, which enables him to provide his clients with concrete recommendations and solutions. Especially with time-critical problems and difficult issues, you can rely on him to provide clear and well-considered assessments.’

‘Dorothee Prosteder: Particularly suitable at the interface between insolvency law and M&A with a broad international background and specialist knowledge of several jurisdictions. Excellent negotiating skills and tenacity on the buyer and seller side. Deep business understanding. Long-term, trustworthy network to relevant stakeholders.’

‘Dr Thomas Hoffmann, highly professional appearance. Creates transparency and trust. Accessible at any time. I can definitely recommend Mr. Hoffmann.’

‘Thomas Hoffmann sees through complex problems extremely quickly, has an excellent understanding of how to convey the scope for action depending on the situation, including all associated consequences, and always suggests solution-oriented paths leading to the goal.’

‘The large Noerr restructuring team covers all legal needs in this area of law, which is the case with a few law firms. With restructuring financing and restructuring trusts, insolvency plans and distressed M&A, this includes the entire toolbox of out-of-court and intra-judicial restructuring. In disputes with insolvency administrators, Noerr’s litigation lawyers are a great asset on the banking side. Only a few law firms offer this and at the same time the nationwide presence on site.’

‘Thomas Hoffmann: Highly recommended; often finds creative solutions in restructuring situations and when realising collateral, maintains an overview even in complex cases, very experienced. He can make the difference, especially in difficult situations.’

Work highlights

  • Condor Flugdienst GmbH: Advice on the restructuring in the protective shield proceedings and the takeover by the Polish Aviation Group (PGL), owner of the Polish airline LOT Polish Airlines (LOT), in the insolvency plan procedure, as well as after the failure of the takeover in coronavirus rescue financing with KfW and preparation of the second insolvency plan procedure.
  • Maredo restaurants: Advising the operator of the Maredo steak restaurant chain on the preparation and filing of the bankruptcy application as well as in advance of negotiations with the stakeholders about an out-of-court restructuring.
  • German Thomas Cook daughters: Advice on pre-insolvency restructuring negotiations with banks, bondholders and credit card insurers.

White & Case LLP

The financial restructuring and insolvency group at White & Case LLP advises on all aspects of restructuring and insolvency administration. The service offering includes financial restructurings, but also insolvency and reorganisational matters. Advising creditors such as banks or private debt funds on financial restructuring is a core focus, while advice to investors and companies is on the increase. The group makes use of its litigation experience and combines it with the special know-how of the 'highly professional team' as insolvency administrators and restructuring experts, advising on insolvency-related contestation, liability or contractual disputes with international aspects. Sven-Holger Undritz, 'very competent, strong in implementation', regularly draws up insolvency plans and assists domestic and international clients with acquisitions of insolvent companies. Riaz K. Janjuah, leading partner for restructuring, 'exudes calm and competence, is very convincing even in difficult situations' and has particular experience in cross-border company restructurings and insolvencies; he regularly restructures debtors' companies through negotiations, insolvency plans or foreign restructuring measures. The team has special sector knowledge in maritime economy, automotive, aviation, trade and consumer goods as well as energy, especially wind energy.


‘The law firm is very competent, especially when it comes to restructuring issues. The banks are given comprehensive advice. Excellent work results are delivered even under time pressure. The work is done very quickly and always on schedule.’

‘Riaz Janjuah: exudes calm and competence. Is very convincing even in difficult situations. All questions that arise, particularly those relating to legal issues, are answered immediately and comprehensively. Proposals on renovation topics are very targeted. Confident appearance even under pressure.’

‘Highly professional team!’

‘Sven-Holger Undritz: Very competent, strong in implementation, out-of-the-box approaches. Close support in critical cases. Always there when you need it. High visibility in negotiations.’

‘Riaz Janjuah: Hard worker, competent.’

Key clients

Advert Finance B.V

Asklepios Kliniken GmbH & Co. KGaA

Beluga Spielwaren GmbH

Cerberus Capital Management, L.P.

Daimler AG

FMC Beteiligungs KG

Feilo Sylvania Germany GmbH

Gries Deco Company GmbH

Hamburg Commercial Bank AG

Karen Millen Holdco 1 Limited

Loewe Technologies GmbH


Polish Aviation Group (PGL)

Siegfried Boecker GmbH & Co. KG

Voltaire Finance B.V.

Wilmington Trust SP (Services) Frankfurt GmbH



Work highlights

  • Daimler AG - IFA-Group: Advising Daimler AG on the restructuring of the IFA group. The core of the restructuring is the stabilisation of business operations through a reorganisation of financing and operational measures. The restructuring process should be completed in March 2022, and an M&A process is also running in parallel.
  • Polish Aviation Group (PGL): Advising the Polish Aviation Group (PGL), owner of LOT Polish Airlines SA (LOT), on the takeover of the German Condor Flugdienst GmbH (Condor). The advice included very complex questions on security and aircraft financing issues and the associated interfaces with the restructuring of the Condor Group, the Condor insolvency protection shield proceedings and the KfW bridging loan.
  • Toshiba and Zechbau: Advising Toshiba first and then Zechbau as a bidder in the sales process for the service business of Senvion, once a leading global manufacturer of onshore and offshore wind turbines, out of the insolvency proceedings there.


Key elements at CMS are financial restructurings, the negotiation process as well as securing loan agreements with banks and credit consortia for companies or their shareholders. Debtors, self-administrators, insolvency administrators, shareholders, creditors and investors are among the client portfolio. Particularly in demand is the team's expertise in pre-insolvency matters and in asserting creditors' rights, especially international creditors with assistance from the firm's cross-border network. For insolvent or unprofitable companies, the team handles restructuring measures such as insolvency proceedings, management buyout or liquidation. On the increase is the advice to medium-sized companies. Practice head and economist Alexandra Schluck-Amend focuses on internal and external financing and restructuring as well as distressed M&A and is especially well versed in liability matters. In January 2021, senior associate Artur Swierczok joined the new restructuring team at Baker McKenzie as counsel.

Practice head(s):

Alexandra Schluck-Amend

DLA Piper

DLA Piper has continuously expanded its service offering, initially only advising creditors on restructurings. The team now also advises insolvency administrators, debtors as well as managers of distressed companies. Pre-insolvency advice, as well as providing assistance with measures to avoid insolvency or the orderly planning of insolvencies, are key focus areas. Additionally, financial restructurings on the lender as well as debtor side and distressed M&A transactions contribute to the workload of the team. Insolvency litigation matters are on the increase, where both companies and insolvency administrators are represented in contestation or liability claims. Intersection expertise of the 'serious and conscientious' team exists in criminal law. Also, the group can make use of its international network with regard to complex cross-border matters such as non-performing loans. Clients predominantly stem from the manufacturing, financial services, service providers and healthcare sectors. Practice head Dietmar Schulz   has expertise in refinancing loans and all aspects of distressed credit and M&A matters. The 'strong in negotiations and very experienced' Mike Danielewsky   advises national and international companies, executives, banks, investment companies, funds as well as investors on restructuring and reorganisation in and out of insolvency proceedings.

Practice head(s):

Dietmar Schulz

Other key lawyers:

Mike Danielewsky


‘DLA gives the client the feeling of being flexibly available with the necessary capacity at all times from the first contact to the closing. Where very specific expertise is required in the matter, for example across national borders, it is mobilised at short notice. Apparently there is a well-maintained network within the DLA association of law firms.’

‘Experience has shown that the individuals are always available at very short notice for technical discussions and queries. They are very open-minded to grasp the individual facets of the respective case constellation and to pay close attention to the clients’ interests, which are sometimes not fixed from the start, in order to enable efficient advice.’

‘Extremely high level of specialist knowledge and that actually on all team levels, precise implementation and, if necessary, expansion of the teams in the process, the latter without you noticing it or having to explain what is going on from the start. Always completely calm, which is important and very pleasant.’

‘Mike Danielewsky has a maximum of specialist knowledge, is extremely good at negotiating and at the same time pleasingly uncomplicated. He usually knows what is coming and is prepared. If there is a solution, he will find it.’

‘We are very grateful that our needs as customers were understood and effectively translated into contracts. In addition, this ability, combined with the ability to find solutions quickly and negotiate with the other side, is essential in restructuring.’

‘Dietmar Schulz accompanied the entire process of looking for alternative solutions, competently drafted the contracts and concluded the negotiations. He not only helped us in legal terms, but also with his in-depth understanding of the needs of our business. As foreign investors, we also needed support in understanding German law and the German system.’

‘The team is relaxed and calm, but always serious and conscientious.’

‘Mike Danielewsky – well connected and very experienced.’

Key clients


Deutsche R+S Dienstleistungen Köln GmbH


Gebauer & Griller

Gruppo Ceramiche Ricchetti SpA / Dekoramik

Guala Closures Group


Heidelberger Druckmaschinen AG



Katharina Kasper Viasalus

Knorr Bremse

Maas & Roos Gruppe

Pressmetall Gunzenhausen GmbH in Eigenverwaltung


Senvion GmbH



Vorläufiger Insolvenzverwalter Axel Bierbach / BEV

Work highlights

  • Heidelberger Druckmaschinen AG: Advice on the comprehensive package of measures announced by the company to increase profitability.
  • FINNFUND: Advising the Finnish State Fund for Industrial Cooperation Ltd (FINNFUND) on the insolvency of Mobisol GmbH and the resulting sale of Mobisol to ENGIE as well as representing it on the creditors’ committee.
  • Ceramiche Ricchetti SpA Group: Advice on the sale of Klingenberg Dekoramik GmbH to ROY Ceramics SE, a globally active tile specialist, as well as the previous restructuring and negotiations with the works council.

Hengeler Mueller

The restructuring and insolvency practice at Hengeler Mueller advises on the acquisition and sale of insolvent companies and unprofitable business units, non-performing loans and the enforcement of claims in insolvency proceedings. Clients are predominantly company owners, investors and insolvency administrators. Additionally, the 'professionally excellent' team incorporates its expertise in loans, credits, bonds and other financial products, to expertly advise financial creditors or debtors on the restructuring of non-performing financings. The team has particular experience in the restructuring and securitisation of real estate portfolios. 'Highly qualified and outstanding lawyer' Martin Tasma advises on insolvency proceedings, restructurings, M&A transactions and financing. 'Excellent lawyer and restructuring specialist' Daniel Weiß has particular experience in financial products. Johannes Tieves handles financing options and distressed M&A transactions in connection with restructurings.


‘Dr Martin Tasma is a young, aspiring, highly qualified and outstanding lawyer who presents the field of restructuring.’

‘Professionally excellent. Demand-based service and legal advice at the highest level. An incomparable overall package.’

‘In addition to his technical expertise, Daniel Weiß is characterised by his exceptional communication and negotiating skills. Together with his factual and calm manner, this makes him a valued adviser for difficult cases.’

‘Martin Tasma – very good negotiator and an eye for the essentials. Daniel Weiss – technically very good with a good understanding of the interface between restructuring and banking law.’

‘The Hengeler team led by Dr Martin Tasma acts very homogeneously and is absolutely independent. The legal processing is characterised by enormous quality and a high level of economic understanding.’

‘Dr Martin Tasma – top-class team player Dr Johannes Tieves – experienced commercial lawyer with a sure instinct.’

‘A very dynamic young partner who is top both legally and commercially and who “drives things”.’

‘Mr Tasma is legally excellent, commercially savvy and always interested in finding a solution that is viable for everyone involved. He recognises legal difficulties on the other side and considers compromises. He is fair and communicates transparently.’

‘Hengeler Müller is one of the leading German law firms. In my opinion, the high, consistent quality is unique.’

‘Dr Daniel Weiß: excellent lawyer and restructuring specialist, especially from the banks’ point of view, high level of expertise, pleasant to work with, always friendly. Martin Tasma: also an excellent lawyer and restructuring engineer, that is especially true from a shareholder’s point of view – especially with funds, very well networked I have already worked together with both partners. ‘

Work highlights

  • Lead counsel for Leoni: Advice on the part of the borrower / company; comprehensive advice on complex restructuring, including financial restructuring (up to the appointment of a CRO); aspects of capital market law; distressed M&A. Approx. EUR 2 billion in financial liabilities.
  • Comprehensive financial restructuring of Schmolz + Bickenbach AG, including change of control offer and repayment of bonds as well as changes to the programs for syndicated financing and asset-backed securities.
  • Advising Lufthansa in connection with the coronavirus rescue.

Heuking Kühn Lüer Wojtek

Heuking Kühn Lüer Wojtek's restructuring group advises on all aspects of crisis management, restructuring and insolvency. Due to its network of insolvency administrators, trustees, economists, interim managers, accountants, custodians, banks, private equity funds as well as specialised foreign law firms, clients are comprehensively advised on restructurings at national and international level. Managers, supervisory boards and shareholders are assisted with measures to avoid insolvency and also with insolvency protection proceedings as well as insolvency plan proceedings. Additionally, the team handles liability risks and risks under criminal law, such as delayed filing of insolvency, directors and officers' liability, tax liability or aiding and abetting, among others. Another focus is insolvency contestation, where both insolvency administrators and opposing parties are represented. An industry focus exists in automotive, catering, fashion and energy. Practice head Georg Streit is well versed in insolvency law, restructurings and reorganisations and acts in insolvency litigations as well as distressed M&A transactions. Kai Uwe Büchler is specialised in insolvency law as well as credit and credit safeguarding matters.

Practice head(s):

Georg Streit

Other key lawyers:

Kai Uwe Büchler


‘Very committed, good economic understanding. Flexible.’

‘Immediately and directly available. Always on the ball. Clear words.’

Hogan Lovells International LLP

Hogan Lovells International LLP advises an array of different clients, such as companies, investors, creditors, debtors and insolvency administrators, on all matters, which arise from company crisis. The 'legally excellent' team advises on the obligation to file for insolvency, insolvency protection proceedings, self-administrations and insolvency plan proceedings and also advises on debt restructuring as well as acquisitions of insolvent companies. Due to the firm's focus on finance, the team also acts in restructuring and bridge financings, liquidations, the enforcement of security rights as well as non-performing loans. Practice head Dr Heiko Tschauner, who is known to be 'extremely competent, efficient and quick to react', has particular experience in insolvency protection proceedings, non-performing investments and also the protection from insolvency risks, e.g. through double trust structures. Christian Herweg has particular know-how in the advice on insolvency plan proceedings, cross-border insolvencies and in the enforcement of security rights.

Practice head(s):

Heiko Tschauner

Other key lawyers:

Christian Herweg; Markus Huber


‘Legal excellence, resourcefulness in difficult procedural situations, sensible accounting, easy accessibility.’

‘Dr Heiko Tschauner, Munich – extremely competent, efficient, quick to react and results-oriented. At the same time, able to implement pragmatic, economically sensible solutions in negotiations, even in the most difficult situations.’

‘Dr Markus Huber: young, smart, resourceful; can write well what is important for a litigator; always responsive; high success rate.’

‘Decades of excellent and successful cooperation with top lawyers in all fields of corporate law and all areas of law relevant to large family businesses. Finally, a special problem (pension fund) relating to insolvency law and restructuring was successfully dealt with.’

Heiko Tschauner and Markus Huber (senior associate) are extremely helpful and committed lawyers with excellent technical skills. You are always looking for a practical solution for every situation.

The Hogan Lovells restructuring team is great at providing quick responses with detailed analysis.’

‘Christian Herweg of the restructuring team at Hogan Lovells is not only excellent at providing an in-depth analysis of the matter, but also in his polite and humble demeanour.

Key clients

Guarantors committee and a global investment bank vis-à-vis the listed tour operator Thomas Cook Group Plc.

Boston Consulting Group


Dover Fueling Solutions

Gilead Sciences

Harry-Brot GmbH

ProSiebenSat.1 Media SE

Shinhan Investment

Work highlights

  • Gilead Sciences: Advising the biopharmaceutical company on the partial acquisition of the assets of the insolvent stock corporation MOLOGEN AG.
  • Harry-Brot GmbH: Advice on the acquisition of the insolvent Kronenbrot Group and support in complex negotiations with the insolvency administrator, works council, trade union and the previous investor.
  • Shinhan Investment: Advice on investing in a portfolio of distressed real estate projects in Germany.

Taylor Wessing

The restructuring team at Taylor Wessing has three core areas: insolvency litigation, distressed transactions, as well as self-administrations and insolvency protection proceedings. Especially the group's work in insolvency litigation is noteworthy. The 'big team with high impact' is in high demand among insolvency administrators, who seek advice on issues such as the enforcement of contestation claims. Practice head and 'fast thinker' Hendrik Boss advises national and international companies on the preparation of orderly insolvency proceedings, particularly insolvency protection proceedings, and specialises in advising international financial investors and banks as creditors and investors in crisis situations. The 'very pragmatic and solution-oriented' co-practice head Martin Heidrich, regularly represents shareholders and companies in self-administrations, insolvency protection proceedings as well as insolvency plan proceedings. 'Excellent lawyer' Ingo Gerdes specialises in insolvency litigation and represents insolvency administrators in and out of court. Former practice head Bernhard Kloft still assists the team as of counsel.

Practice head(s):

Hendrik Boss; Martin Heidrich

Other key lawyers:

Bernhard Kloft; Ingo Gerdes


‘The practice area restructuring and insolvency of the law firm Taylor Wessing Düsseldorf is one of the best addresses in Germany when it comes to the prosecution of claims against organs and/or auditors after an insolvency, also in relation to the defense of this. Strengths are legal expert knowledge, economic expertise and the ability to work in a team, also in cooperation with auditors.’

‘Hendrik Boss: Deal maker in restructuring constellations. Very good network. Fast thinker who always tries to find a solution. High presence on the mandate.’

‘We have been working successfully and trustingly with the Taylor Wessing team for many years and appreciate our colleagues for their reliability, the extremely high level of professionalism and the uncomplicated approach to new projects. Particularly noteworthy is the competence in the area of insolvency legal representation. There is hardly a competitor who can hold a candle to the Taylor Wessing team here.’

‘Big team with high impact.’

‘In addition to the legal approach, we are also looking for a pragmatic and solution-oriented economic solution.’

‘Martin Heidrich – very pragmatic and solution-oriented, stays calm even in difficult situations.’

‘A lot of experience and expertise, at the same time pleasant contact at eye level with a high level of teamwork that exceeds our experience with other law firms.’

‘Ingo Gerdes: great successes in proceedings for insolvency administrators; Ability, together with other advisers, to define and successfully pursue the ideal legal strategy (ability to work in a team); great care at the crucial points (focus on the essentials).’

‘Interesting combination of restructuring lawyers with a very good economic understanding and a “make the deal happen” approach on the one hand and litigating lawyers for insolvency-related disputes with a bite on the other.’

‘Ingo Gerdes: Well connected, excellent lawyer.’

‘Technically excellent qualities, targeted implementation.’

‘Ingo Gerdes: Expertise and quality of work, quick response times and decision-making authority.’

Key clients

Dr Christoph Morgen


Farallon Capital

Adiuva Capital

Prof. Dr Lucas Flöther

Dr Jan Markus Plathner

Bayerische Landesbank

Cordet Capital


Work highlights

  • Vapiano SE: Advice on restructuring and financial matters up to filing for insolvency together with Freshfields.
  • Veritas / Dr Jan Markus Plathner: Support in the standard insolvency proceedings. Ongoing advice to the provisional insolvency administrator Dr Jan Markus Plathner.
  • Poggenpohl / Manuel Sack: Advising the insolvency administrator on foreign Poggenpohl subsidiaries and on the sale of the Poggenpohl Group.

Anchor Rechtsanwälte

Assisting insolvency proceedings as rule administrator and as trustee in self-administrations, Anchor Rechtsanwälte offers insolvency-related advice, covering international aspects, distressed M&A transactions and double profit trusteeships. Operational restructurings are carried out and duties of interim management taken over via its own company, Anchor Management GmbH. The creation of insolvency plans and advice on insolvency protection proceedings are also part of the team's core competences, as well as the examination and enforcement of liability and contestation claims. Key points of contact for the 'team that works perfectly together', are Alexander Reus, who convinces with his 'unbeaten combination of commercial expertise and legal ability', as well as Christoph Herbst. Both have particular know-how in self-administrations. Thomas Rieger focuses on insolvency litigation as well as extrajudicial representation of supervisory boards against insolvency administrators and the defence against possible liability claims. In April 2020, the firm opened a new office in Duisburg, which is under the leadership of partner and insolvency administrator Sarah Wolf.


‘The combination of legal advice and commercial advice (Anchor Management) in two interlinked teams is unique in Germany in terms of size, competence and clout. For me they are the only ones who can provide this full support for crisis companies for larger, cross-border corporations.’

‘A real team that works perfectly together.’

‘In restructuring consulting, I particularly value Alexander Reus for his calm, purposeful demeanour in connection with the unbeaten combination of commercial expertise and legal ability.’

Work highlights

  • Beratung Dienstleistungskonzern: Advising the management team on liability avoidance, restructuring strategies and comparison scenarios.

Ashurst LLP

The restructuring practice at Ashurst LLP advises financial creditors on debtor crises and insolvencies, distressed companies on restructurings, investors on distressed investments and non-performing loan transactions, as well as insolvency administrators and insolvent companies on the structuring of insolvency proceedings and distressed M&A transactions. The group regularly handles complex cross-border restructuring mandates, due to its strong international network. Practice head Alexander Ballmann specialises in insolvency litigation as well as the automotive, telecoms, media and technology sectors, and also healthcare and life sciences. Matthias Weissinger joined the team in May 2020 from Shearman & Sterling LLP and regularly handles financial restructurings; he mainly advises national and international financial institutions, debt funds, private equity companies and companies, among others, on complex restructurings of financial obligations, extrajudicial restructurings, insolvency administrations and distressed M&A transactions. Leveraged buy-outs, unitranche financings, bank and loan financings, as well as credits for upper medium-sized companies and corporations are also part of his advisory repertoire. In November 2020, Karsten Raupach was promoted to partner in the restructuring and special situations group at the Munich office, he also specialises in national and international restructurings, with a focus on financial restructurings.

Practice head(s):

Alexander Ballmann


BRL BOEGE ROHDE LUEBBEHUESEN is an internationally-oriented partnership, which combines legal advice, accounting and tax as well as restructuring advice. Regular insolvency administrations are part of the law firm's service offering as well as restructuring and reorganisational advice. Investors, insolvency administrators or shareholders are assisted with the acquisition and sale of insolvent companies and insolvency assets - with or without insolvency plan; particular expertise exists in the structuring and implementation of carve out transactions for restructuring purposes, also with regard to employment law. Insolvency litigation covers the assertion and defence against insolvency contestation and directors and officers' liability claims. Companies are represented in and out of court, including in enforcement proceedings. Restructuring and recovery trusts are set up by the team and the role of trustee taken on. The firm is well prepared to advise on complex international restructurings, via an international network of accountancy and tax consulting firms as well as an affiliated  insolvency and restructuring company, the BRL Insolvenz GbR.  The four practice heads Stefan Denkhaus, Dorothee Madsen, Friedemann Schade and Friederich von Kaltenborn-Stachau are all experienced in insolvency-related matters and experts in self-administrations and insolvency protection proceedings, transferring restructuring measures, insolvency plan proceedings and insolvency-related advice to creditors.

Key clients

Agrartransporte Langhans GmbH & Co. KG

Böhling Rohrleitungs- und Apparatebau GmbH

BREE Collection GmbH

Fahrzeugwerk Borco-Höhns GmbH & Co. KG

Katholische Kliniken Lahn GmbH

Kettler Home and Garden GmbH

Mobisol GmbH

Monark Automotive GmbH

Peacock Moden GmbH

Air Berlin PLC and Air Berlin PLC & Co. Luftverkehrs KG

Prokon SPV

KTG Agrar SE

TreasureHunt GmbH

W.E.S. Kommunikation GmbH

Greenberg Traurig Germany

Greenberg Traurig Germany combines restructuring advice and administration experience and offers traditional legal advice on restructuring matters, as well as client support for financial and operational restructurings. For large-scale and complex cases, the 'coordinated team' relies on the other practice groups like tax, employment or IP law, litigation and M&A, as well as the international law firm network. Besides his work as insolvency administrator and trustee, practice head Christian Köhler-Ma advises national and international clients and leads the restructuring of distressed companies as chief restructuring officer. Among the clients of the 'reliable, and extremely trustworthy' Gordon Geiser, are mainly companies as well as their managers and investors. Jesko Stark advises national and international companies prior to insolvency proceedings, as well as on debtor proceedings. At the beginning of 2020, Benedikt de Bruyn was promoted to partner; he specialises in self-administration proceedings and regularly drafts complex insolvency plans.

Other key lawyers:

Benedikt de Bruyn


‘Coordinated team, no vacuum during vacation times, cross-departmental cooperation recognisable.’

‘Gordon Geiser was always available, reliable, and extremely trustworthy. He has first-class specialist knowledge in the area of restructuring and curve outs that is relevant to us. In addition, he recognised, accepted and resolved special issues. I can unreservedly recommend Geiser.’

Key clients

IFA Group

Eisenmann Corp.

Pluradent Gruppe


Work highlights

  • Pluradent: For the two largest companies, Pluradent AG & Co. KG and GLS Logistik GmbH & Co. Dental Handel KG, insolvency applications were filed in self-administration in order to avert impending insolvency. Provisional self-administration was ordered for both companies. Dr Geiser continued the business operations with around 800 employees as a board member of Pluradent AG & Co. KG. The renovation was coordinated with GLS Logistik GmbH & Co. Dental Handel KG, of which Mr Köhler-Ma was appointed managing director.
  • IFA Group: Advising the IFA Group and its subsidiaries on their out-of-court restructuring, which includes both operational and balance sheet restructuring. The restructuring includes the entire group with subsidiaries in the USA, China and Poland.
  • Eisenmann Corp.: Advising the American and Mexican subsidiaries of the Eisenmann Group on the insolvency proceedings of the German Eisenmann companies.

Grub Brugger

Restructuring advice and insolvency administration are key elements of the highly-specialised boutique Grub Brugger. In crisis situations, the practice offers comprehensive advice on liquidations, company sales and acquisitions of insolvent companies as well as on distressed debt and non-performing loans; the team also takes over trusteeships, if required. The defence against or enforcement of contestation claims and liability matters are also part of the service portfolio. The firm's speciality is insolvency litigation with a focus on criminal law. In insolvencies and restructurings, executive boards, managers and shareholders are being advised on and defended against criminal law matters. Hendrik Wolfer is an expert for trade and corporate law, has particular experience at the intersection with insolvency law and advises on transferring restructuring measures. Michael Vilgertshofer assists with pre-insolvency advice as well as the defence against and assertion of liability claims. Julius Beck was promoted to partner at the beginning of 2020.

Key clients

Hans Riegelein & Sohn GmbH & Co. KG

Intersport Deutschland eG

Katharina Kasper Via Salus GmbH

RA Axel Bierbach as insolvency administrator of the publishing house DIE ABENDZEITUNG GmbH & Co. KG

Thomas Cook Aviation (CONDOR-Gruppe)

Thomas Cook Crewing Company GmbH

VTC Industriebeteiligungen GmbH & Co. KG

Weber Automotive

Willi Elbe Group

AWG Allgemeine Warenvertriebs-Gesellschaft mbH

Work highlights

  • AWG: Pre-insolvency advice and advice in the self-administration of the well-known fashion retailer.

Jones Day

Jones Day is experienced in several areas pertaining to insolvency and restructuring. Among them are the acquisition and sale of distressed companies or business units, including real estate assets, the restructuring of non-performing loans, restructuring of public debts as well as formal insolvency proceedings. The team is also active in directors and officers' liability. Practice head and 'good lawyer' Olaf Benning advises clients on insolvency proceedings, as well as on extrajudicial restructurings and distressed M&A transactions with a focus on cross-border mandates. Sandra-Christiane Kamper assists domestic and international clients with corporate governance, IPOs and other capital market transactions. The client portfolio includes companies from the finance, energy, food manufacturing, toys and logistics sector. To conduct due diligences, the law firm uses artificial intelligence and uses software solutions for reviewing contracts.

Practice head(s):

Olaf Benning

Other key lawyers:

Sandra-Christiane Kamper


‘Very well represented in the M&A area.’

‘Olaf Benning is a good lawyer with a quick grasp.’

Key clients

Jasper Berkenbosch as insolvency administrator in the Netherlands

Dr Jan Markus Plathner as insolvency administrator

Exide Technologies

2 Darlehensgeber

Cantor Fitzgerald Securities

Important family-run production company in the food industry

Work highlights

  • Jasper Berkenbosch as insolvency administrator (Netherlands): Advising the Dutch administrator in the insolvency proceedings of PaperlinX Netherlands Holding BV, a cross-border insolvency procedure with a complex network of contractual relationships (Netherlands, Germany, Austria, several Eastern European countries).
  • Dr Jan Markus Plathner as insolvency administrator: Advising the court-appointed special insolvency administrator of pino Küchen GmbH on setting the purchase price.
  • Major production company in the food industry (family-run): Advising on corporate law and insolvency law regarding the possible insolvency of a partner in the holding company and the associated consequences for other shareholders.

Luther Rechtsanwaltsgesellschaft mbH

Through strategic partnerships with insolvency administrators and company advisers, Luther Rechtsanwaltsgesellschaft mbH pursues a full-service approach in the restructuring and reorganisation of companies. The firm assists with insolvency and self-administration proceedings in the role of executive or adviser, as well as insolvency plan proceedings, including the drafting of insolvency plans and coordination of judicial comfirmation procedures. The 'pragmatic and competent' team handles distressed M&A matters and negotiates financings. Practice head Marcus Backes, who is renowned for his 'excellent technical expertise', advises national and international companies and their executive bodies on all matters of insolvency law; the safeguarding of creditors' rights in insolvency proceedings, including the representation in creditors' committees, makes up a significant part of his work, as well as the defence against directors and officers' liability claims. Co-practice head Reinhard Willemsen uses his expertise on trade and distribution law to renegotiate supply and distribution contracts or to implement distribution structures. Frank Tschentscher regularly represents groups of international financial creditors or banking consortia in extrajudicial restructurings of companies and is 'very structured, friendly to deal with, tough but fair on the matter'.

Other key lawyers:

Frank Tschentscher


‘Competent support in insolvency proceedings and reliable, well-founded statements in a reasonable time as well as compliance with the discussed price range.’

‘Very pragmatic and friendly, yet precise enough as soon as it matters.’

‘With Marcus Backes and Frank Tschentscher, Luther’s Hamburg team has two top people in the field of restructuring and reorganisation advice.’

‘Very competent advice on all issues relating to restructuring and insolvency.’

‘Frank Tschentscher is very experienced in the insolvency area, has a balanced judgement and is a good negotiator.’

‘Dr Marcus Backes is very competent, customer-oriented.’

‘Frank Tschentscher is a restructuring consultant with “double qualifications” (Germany and UK) and has practiced in the UK for several years, which makes him one of the best experts on UK restructuring law, but above all on the UK restructuring culture.’

‘Dr Marcus Backes: Client-oriented, high technical expertise, very valued interlocutor.’

‘Frank Tschentscher: very experienced in the area of insolvency, balanced in judgement and good negotiator.’

‘Frank Tschentscher has a practical, but solution-oriented claim. He knows how to moderate difficult situations very well and always finds the right tone.’

‘With the addition of Frank Tschentscher to its team, Luther offers cross-border know-how in insolvency and restructuring law that otherwise only fully integrated international law firms can provide.’

‘Frank Tschentscher, very structured, friendly to deal with, tough but fair on the matter, quick perception, excellent English language skills.’

Key clients

Siem Europe S.à.r.l.

SBB Schweizerische Bundesbahnen AG

Hansa Heavy Lift GmbH

MIBRAG Mitteldeutsche Braunkohlegesellschaft mbH

Deutsche Bank Luxembourg S.A.

Work highlights

  • Deutsche Bank Luxemburg S.A.: Redevelopment. Restructuring advice and representation of the international banking group in connection with a German infrastructure project in crisis (expansion model of the federal motorway).
  • GETI WILBA GmbH & Co. KG: Comprehensive advice to the client in the area of restructuring and filing for insolvency, as well as accompanying the initiated M&A process.
  • Kienast Holding GmbH & Co. KG: Advice on the acquisition of Schuhpark Fascies GmbH as part of an insolvency plan.

Mayer Brown LLP

The restructuring team at Mayer Brown LLP advises clients on company and real estate restructurings, restructurings of loans, as well as on the defence against contestation claims and on distressed M&A matters. Debtors, insolvency administrators, lenders, creditor committees and trustees are usually at the core of the client base. Noteworthy is the firm's expertise in trust models, especially on collateral trust arrangements - the advice on pension liabilities. The 'highly competent' team collaborates closely with other practice groups, such as banking & finance, employment or real estate law, and also plans further cooperation of the private equity and restructuring practices to develop new solutions in this area. Practice head Marco Wilhelm 'stands out due to his competence', he advises internationally trading companies as well as family-owned businesses, banks, financial investors, insolvency administrators as well as the public sector with a particular focus on company acquisitions and sales as well as joint ventures.

Practice head(s):

Marco Wilhelm


‘The practice’s employees have the highest level of expertise. For all urgent questions, regardless of how short-term they were, we were immediately given highly competent advice. Very good customer service with extremely high flexibility is lived here!’

‘With his personal commitment, Marco Wilhelm is a great enrichment for us. The exchange of ideas and opinions with him is always a valuable experience. We really appreciate the personal contact with him!’

‘Always to the point, always one step ahead. Interdisciplinary and a really holistic approach. Focused handling and goal-oriented.’

‘Marco Wilhelm really stands out due to his competence. His forward-looking way of working is an asset to every topic and every internal team.’

Key clients

Knorr-Bremse Steering Systems GmbH

Work highlights

  • Knorr-Bremse Steering Systems GmbH: Advising Knorr-Bremse in connection with the partial sale of the steering system business.

McDermott Will & Emery Rechtsanwälte Steuerberater LLP

The 'strong restructuring practice' at McDermott Will & Emery Rechtsanwälte Steuerberater LLP advises on all matters regarding restructuring and insolvency. The team often handles complex national and international distressed M&A transactions, including the advice on debt and insolvency asset transactions. Investors and insolvency administrators are both advised on acquisitions and sales of insolvent companies. Other key elements are the avoidance or preparation of insolvency plan proceedings, insolvency protection proceedings and self-administrations - such as the one for Galeria Karstadt Kaufhof GmbH - as well as financial restructurings. Additionally, the firm has further expanded its insolvency litigation practice, defending managers and executive bodies against liability claims. Practice head and 'very skilled negotiator'  Uwe Goetker advises investors and sellers on transactions, represents shareholders and creditors, safeguards their interests and advises executive boards and companies on judicial and extrajudicial restructurings, including self-administrations and insolvency plan proceedings. Co-practice head Matthias Kampshoff has particular expertise in the retail, automotive, media and IT sectors. At the beginning of 2020, Marc Oberhardt was promoted to partner.

Practice head(s):

Uwe Goetker; Matthias Kampshoff

Other key lawyers:

Marc Oberhardt


‘Strong restructuring practice. Excellent understanding of economic relationships. Extremely solution-oriented way of working.’

‘Uwe Goetker: Very skilled negotiator. Maintains an overview/perspective in complex situations. Very broad restructuring experience. Extremely solution-oriented way of working.’

‘I’ve been working with Uwe Goetker for many years. You can rely on your work. Uwe Goetker is precise, a team player and able to deliver work results on time. I’ve also known Matthias Kampshoff for several years. He is able to track down new business and then carefully process it.’

‘Good and understandable presentation of complex legal problems also understandable for non-lawyers. Strong understanding of the operational business. Fast response times.’

‘Very quick response time. Good legal advice with an economic background and a sense for operational business.’

‘In my opinion, the team around Uwe Goetker and Matthias Kampshoff has gained some ground in recent years. Matthias Kampshoff in particular has further increased his visibility in the market, especially of course by advising Karstadt, among others.’

Key clients

SIGNA Prime Selection AG / SIGNA Retail GmbH

Borgers SE & Co. KGaA

Galeria Karstadt Kaufhof GmbH

Nikolaos Antoniadis (liquidator)

Work highlights

  • Galeria Karstadt Kaufhof-Gruppe: Comprehensive advice in connection with the protective shield proceedings and the restructuring.
  • Borgers-Gruppe: Advice in connection with the financial and operational restructuring of the international automotive supplier and mechanical engineering group.
  • International fashion retailer: Advice on the restructuring of the entire German business.

Weil, Gotshal & Manges LLP

Through its network, Weil, Gotshal & Manges LLP has a strong international orientation with special focus on transatlantic matters. Numerous mandates have cross-border references, particularly to the US and the United Kingdom, and most recently were from the financing, automotive, shipping, energy and technology sectors. Due to the group's know-how in private equity, strong emphasis is placed on advice to sponsors, portfolio companies, senior and mezzanine creditors on distressed corporate situations, as well as loan restructurings, debt for equity swaps or non-performing loan transactions. The acquisition and restructuring of financial institutions is another focus, as well as insolvency litigation. Practice head Gerhard Schmidt specialises in M&A transactions and advises on acquisitions and sales of insolvency assets or in crisis situations. If required, expertise from other practices such as corporate, tax, employment and finance law as well as dispute resolution is incorporated.

Practice head(s):

Gerhard Schmidt

Key clients

Syncreon Group

Exide Technologies

Joint Special Administrators fromMF Global

Work highlights

  • Syncreon Group Holdings B.V.: Advising on the cross-border restructuring of the company’s financial liabilities of Syncreon in the amount of approximately USD 1.1 billion
  • Exide Technologies: Advice on complex cross-border restructuring of Exide Technologies.
  • US company: Representing a US company in a bankruptcy contest.

Wellensiek Rechtsanwälte - Partnerschaftsgesellschaft

Wellensiek Rechtsanwälte - Partnerschaftsgesellschaft is active in both restructuring and insolvency matters. The firm advises German and international companies as well as their executive boards and shareholders in crisis situations. If required, the lawyers take on executive positions within the affected companies in restructuring circumstances. If a judicial restructuring is unavoidable, the team advises the company and its executive bodies on self-administrations, insolvency protection proceedings or regular insolvencies and can also act as double-profit trustee. Daniel Wozniak is an economic expert and insolvency administrator. Richard Scholz puts an emphasis on distressed debt, distressed M&A, as well as sales and purchases of distressed property portfolios. Alfred Hagebusch creates continuation and restructuring concepts, and advises on M&A transactions of distressed companies.

act AC Tischendorf Rechtsanwälte

With over 15 offices in continental Europe, act AC Tischendorf Rechtsanwälte has its own association of law firms - act legal - covering international restructurings with cross-border aspects. The team assists with financial restructurings, such as refinancings, waiver solutions or distressed debt as well as operational restructurings, such as restructurings under employment law, cost-cutting measures or interim management, distressed M&A transactions, trust and investor solutions as well as self-administrations. Notably, the team regularly acts in the ownership position as trustee and restructuring investor. The restructuring department is represented through an independent organisation, AC Tischendorf Treuhand und Investor GmbH. Sven Tischendorf, 'entrepreneurial and pragmatic' and 'always to the point', has particular expertise in the intersection restructuring, M&A and employment law. Matthias Müller advises on crisis and restructuring situations and on insolvency law. Alexander Höpfner, 'technically excellent and pragmatic', joined the practice in April 2020, after being a longstanding partner at BBL Brockdorff & Partner Rechtsanwälte. Throughout Germany, Höpfner regularly takes on executive roles as chief officer, chief restructuring officer or general representative in self-administrations and insolvency protection proceedings. In the roles of general representatives, Tischendorf und Höpfner were recently in charge of the insolvency protection proceedings of the well known German fashion brand Hallhuber.

Other key lawyers:

Alexander Höpfner


‘Pragmatic and determined approach. High industry know-how. High availability and short response times. Efficient delivery of services.’

‘Sven Tischendorf and Alexander Höpfner are industry and insolvency experts.’

‘Flexible, responsive, entrepreneurial, pragmatic, efficient.’

‘Strong team; high cohesion.’

‘Sven Tischendorf is entrepreneurial and pragmatic.’

‘Pragmatic and solution-oriented with an eye for what is economically important.’

‘The move from Mr Höpfner to ACT is a really valuable addition to the law firm – in terms of content and the human type, it is complementary and very pleasant. On the matter: competent, pragmatic, good and very collegial. It’s always about finding the best solution for the distressed company.’

‘Dr Sven Tischendorf conveys legal issues to non-lawyers in understandable language. Is very focused on the economically essential. Always to the point.’

‘Alexander Höpfner is technically excellent and pragmatic.’

Key clients

Acciona Airport Services

Amadeus Germany Gruppe

Baden Board Gruppe

Colbrand Foods Gruppe

CWS-boco Deutschland GmbH

Edscha Gruppe

Eurofins Scientific Gruppe

Exel Industries

Dr. Köster as insolvency administrator over the assets of A plus 4 GmbH

Gusswerke Saarbrücken/Leipzig

Greiner Gruppe


Hilti AG Liechtenstein

hubergroup Deutschland

Limtronik GmbH


Situs Group – formerly Hatfield Philips

Veltec Group

Vossloh-Schwabe Gruppe

Work highlights

  • Hallhuber: Advising the well-known German fashion company on the preparation and implementation of self-administration proceedings in accordance with s270b InsO (protective shield proceedings).
  • Vossloh-Schwabe Gruppe: Advising one of the world’s leading manufacturers of LED systems, lighting control systems and lighting technology components on the preparation and implementation of the self-administration procedure in accordance with s270b InsO (protective shield procedure).
  • Baden Board Gruppe: Restructuring of a leading manufacturer of packaging materials as appointed general representative; Management of the investor process.

Aderhold Rechtsanwaltsgesellschaft mbH

Aderhold Rechtsanwaltsgesellschaft mbH offers comprehensive advice on restructuring and reorganisation, mainly to medium-sized companies, corporations and banks. Multidisciplinary teams renegotiate contracts with suppliers, credit insurers and other third-party creditors to safeguard the liquidity of the companies, or advise on mass-increasing purchases of insolvency assets. If required, liquidation proceedings are implemented and, if insolvency cannot be avoided, insolvency applications are prepared and insolvency proceedings supported. Insolvency plans are also drafted and executed, self-administrations and trusteeships supported, at times in the form of taking on executive roles, such as chief restructuring officer. Thorsten Prigge is specialised in trustee and liquidation matters.

Other key lawyers:

Thorsten Prigge

HWW Hermann Wienberg Wilhelm

HWW Hermann Wienberg Wilhelm covers insolvency administration, trustee matters as well as restructuring. The practice is consulted by investors, banks, company owners as well as companies and frequently provides pre-insolvency advice to supervisory boards of companies at risk of insolvency. Other strengths are tax law and directors and officers' liability. The team also takes on executive roles, such as chief restructuring officer or interim manager, when needed. Through its own restructuring network, the firm seeks advice on restructuring concepts, which are used by creditors to secure follow-on financings. Clients mainly stem from the aviation, automotive and healthcare sector, as well as the manufacturing industry and tourism sector.  Besides his work as insolvency administrator, practice head Rüdiger Wienberg also acts as self-administrator, trustee, receiver, chief restructuring officer, general representative and liquidator.

Practice head(s):

Rüdiger Wienberg

Schultze & Braun

Besides regular insolvency administration, the insolvency and restructuring boutique Schultze & Braun also offers a wide range of restructuring services, such as the defence against and enforcement of contestation and liability claims, insolvent company purchases and sales as well as transferring restructuring measures. The team also advises on self-administrations and insolvency protection proceedings, and in the latter regularly acts as chief restructuring officer or trustee. Particular intersection expertise exists with the receivership of properties, tax law, estate insolvencies or insolvencies under criminal law. Name partner Eberhard Braun is specialised in business management restructurings, financings and distressed transactions.

Practice head(s):

Eberhard Braun

Shearman & Sterling LLP

The focus at Shearman & Sterling LLP is on complex financial restructurings, as well as purchasing and selling of distressed business units and companies. Financial matters include bridge financings, debt equity swaps, super senior debt and credit by way of bank guarantee. The team also advises on insolvency litigation, such as the defence against contestation claims or insolvency administrator claims. A recent example is the work for Etihad in the course of the AirBerlin insolvency. When needed, interdisciplinary teams with other departments are formed, such as corporate law and litigation. Practice head Winfried M. Carli advises international financial institutes, debt funds, private equity companies and businesses on all matters of debt transactions. Clients are from the automotive, aviation and energy sector, among others. Former practice head Matthias Weissinger left in May 2020 to join Ashurst LLP.

Practice head(s):

Winfried M. Carli

Work highlights

  • Etihad Aviation Group: Representation of Etihad as a defendant in connection with numerous claims for recovery by the insolvency administrator of Air Berlin before a German court.

BBL Brockdorff & Partner Rechtsanwälte

Apart from insolvency administration, BBL Brockdorff & Partner Rechtsanwälte also covers national and international restructurings. Distressed companies as well as potential investors are advised on sales. In insolvency litigation, shareholders and managers are defended against liability issues, and insolvency administrators are being advised on the enforcement of contestation claims. Since the departure of former name partner Georg Bernsau to K&L Gates LLP, the firm is led by remaining name partner Christian Graf Brockdorff. Brockdorff specialises in insolvency and restructuring and mainly advises self-administrating debtors. The long-standing partner Alexander Höpfner left the law firm in April 2020, to join the Frankfurt group at AC Tischendorf Rechtsanwälte. In the summer of the same year, former partner Marcus Winkler jointly started his own law firm with Andree Gossak, WINKLER GOSSAK. Ivica Dalić also joined the latter, among others.

Practice head(s):

Christian Graf Brockdorff

GvW Graf von Westphalen

The group at GvW Graf von Westphalen advises on restructurings and reorganisations, as well as purchases, sales and real estate matters with regard to crisis and insolvency. The team either acts as an adviser for the company, management, shareholders, managing partners or creditors. The main focus and core strength of the team is insolvency litigation, including all insolvency-related judicial and extrajudicial disputes with reference to the crisis. This particularly includes directors and officers' liability issues, the representation of insolvency administrators and opposing parties in insolvency contestations, insolvency administrator liability, adviser liability, segregation disputes, bank and asset-related diputes as well as arbitrational proceedings. Clients also seek advice on insolvency under criminal law. Regarding cross-border restructurings, the group cooperates with partnering law firms abroad. Practice head Wolfram Desch advises clients on restructurings and insolvencies as well as on insolvency litigation. Co-practice head Carsten Liersch is an insolvency law expert as well as an insolvency administrator.

Practice head(s):

Wolfram Desch; Carsten Liersch

Key clients

Verbraucherzentrale Bundesverband e.V.

Clariant Produkte (Deutschland) GmbH

Work highlights

  • Verbraucherzentrale Bundesverband e.V.: Model declaratory action against the insolvency administrator of Bayerische Energieversorgungsgesellschaft mbH. The issue affects around 50,000 customers. Of particular importance because of the new instrument of the model declaratory action.
  • Clariant Produkte (Deutschland) GmbH: Representing Clariant SE as the property owner in a chemical park. Agreements with the tenant, the (provisional) insolvency administrator, other companies in the chemical park and the responsible regional council had to be conducted within the short deadlines under insolvency law.

GSK Stockmann

The key elements at GSK Stockmann are the incorporation of other core strenths of the firm, such as advising the public sector, corporate law and restructuring expertise as well as the regulated funds industry. Particular intersection expertise exists in real estate law, especially in the hotel sector. The pre-insolvency advice to supervisory boards on executive duties and liability issues and distressed M&A are as much a part of the service, as are funds restructurings, supplementary financings or asset deals in the course of pre-insolvency restructurings. The team offers a 'very personal and pleasant support' and assists with liquidity monitoring systems, renegotiates supply and customer contracts or provides strategic breakdowns of action. Another focus is the restructuring of family-led companies. Andreas Dimmling frequently handles restructuring scenarios in the funds sector and distressed M&A matters. Raoul Kreide, 'a very good, pleasant and creative lawyer', is specialised in real estate insolvencies, property developer insolvencies, the structuring of distressed private equity funds for banks, as well as the conflict-avoiding restructuring of family-led companies.

Practice head(s):

Andreas Dimmling; Raoul Kreide


‘Raoul Kreide is a very good, pleasant and creative lawyer. Unpretentious. Focus on tax law too.’

‘High level of expertise in restructuring and asset transfers.’

‘Individual, very personal and personable care.’

‘Highest professional competence combined with absolute reliability, highest commitment and a lot of humanity.’

Key clients

Starlinger Unternehmensgruppe

Greenmarck Fund Solutions GmbH

Investa Holding GmbH

Praeclarus Asset Management GmbH

James Fisher Nuclear Ltd.

Hellerman Tyton

Verifort Capital GmbH

Work highlights

  • Praeclarus Asset Management GmbH: Advising on corporate restructuring to raise hidden reserves in several fund companies.
  • Greenmarck Fund Solutions GmbH: Advising the client on the acquisition of several companies in liquidation from an institutional provider of closed fund structures (Real Estate division) in Luxembourg as well as advising on the appointment of the client as a trust limited partner in a closed real estate fund.
  • Recylex S.A.: A total of six German group companies of the French listed group Recyclex SA filed for insolvency in spring 2020, partly in the protective shield and partly in the self-administration process. Advising the parent company, Recylex SA, on all legal issues relating to German insolvency proceedings, in particular with regard to financial and operational group ties, as well as the presence of the board of directors in the creditors’ committees.

Menold Bezler

Menold Bezler advises on a wide range of restructuring matters, including advice to companies and creditors in crisis, insolvency of the business partner as well as distressed M&A. Through early crisis detection and insolvency prevention, the group tries to avoid the looming crisis. If insolvency is inevitable, the 'professional and morally very strong' team advises on self-administration proceedings and regular insolvency proceedings. The lawyers take on the role of chief restructuring officer or trustee, when required. Due to the firm's full-service approach, further expertise in banking, employment, antitrust, trade mark or real estate law as well as litigation can be included at short notice. Co-managing partner Frank Schäffler advises debtor companies in crisis and insolvency scenarios. Jochen Sedlitz is a certified restructuring manager and insolvency administrator, he also acts as trustee. Jasmin Urlaub specialises in advising and representing creditors in crisis. In January 2020, the firm merged with accountancy and tax consulting firm Prof. Dr. Binder, Dr. Dr. Hillebrecht & Partner GmbH, to further extend its restructuring capability.


‘A very good combination of hands-on management and a professional approach. Also very human with integrity!’

‘Frank Schäffler shows very clear perspectives on possible solutions and is very well known.’

‘Among other things, Jasmin Urlaub can design very good stakeholder management.’

‘Jochen Sedlitz is very pragmatic and solution-oriented.’

Key clients

Galvanoform Gesellschaft für Galvanoplastik mbH

Hesta Blasformtechnik GmbH & Co. KG

Papierwerke Lenk AG; Schwarzwald Papierwerke AG

Marlok Automotive GmbH

MEKU Gruppe

Seuffer Gruppe

Sitronic Gesellschaft für technische Ausrüstung mbH. & Co. KG

Vidrea Deutschland GmbH

WERZALIT GmbH + Co. KG Industriebeteiligungen

Work highlights

  • 1. FC Kaiserslautern KGaA: Renovation advice.
  • Teile der MEKU Gruppe: Pre-insolvency advice and restructuring in self-administration for MEKU Kunststoff Technologie GmbH, MEKU Energie Systeme GmbH and MEKU Electronic Systems GmbH & Co. KG.
  • Vidrea Deutschland GmbH: Bankruptcy proceedings.


On the creditor side, Milbank advises banks, debt funds, distressed debt investors, junior creditors, mezzanine lenders as well as their steering committees, whereas shareholders and sponsors seek advice on the borrower side. The team handles judicial and extrajudicial restructurings, liability management and crisis financings. Additionally, the 'constructive, thorough and solution-oriented' team advises on debt equity swaps, bridge and restructuring loans, creditor disputes and collateral enforcement. Complex cross-border restructurings are covered by the close collaboration with the firm's English and American offices. Mathias Eisen 'stands out with technical know-how, which is undisputed in the restructuring sector' and advises on domestic and cross-border credit as well as loan financing; he also handles in and out of court restructurings, including bridge and restructuring loans as well as insolvencies.

Practice head(s):

Mathias Eisen


‘Milbank has a very balanced team, which has in-depth specialist knowledge at all levels and accompanies all steps of the transaction constructively, carefully and in a solution-oriented manner.’

‘Mathias Eisen impresses with expertise that does not have to fear competition in the restructuring area. This specialist knowledge is paired with a high level of negotiating skills and a very constructive and pragmatic approach. In addition, Mathias Eisen is characterised by the fact that he questions solution approaches, which makes him a valuable adviser and partner in restructuring transactions. ‘

Work highlights

  • Ad hoc committee of subordinated high-yield bondholders: Representing and advising the ad hoc committee of the subordinate high-yield bondholders in and out of court in the (non-consensual) restructuring of the Galapagos Group (also known as GEA Heat Exchangers or Mangrove; total volume approx. €600m).
  • Pemberton: Advising the loan fund as a senior lender under the super senior/senior financing of the Everest/E3 Group on its restructuring. In the course of the restructuring, Pemberton acquired all shares in the E3 Group from the previous sole shareholder by way of a debt-to-equity swap.

Möhrle Happ Luther

The restructuring practice at Möhrle Happ Luther pursues a targeted approach divided into three sub-areas: Firstly, restructuring advice to debtor companies and executive bodies, negotiations on extrajudicial processes as well as contestation risk assessment. The second focus is on crisis and insolvency, including purchases of insolvency assets, insolvency plan proceedings on the investor side as well as advice on insolvency-related obligations of executive bodies. The third cornerstone is litigation proceedings, here the team advises - also in a preventive manner - on complex and regular contestation claims and other insolvency-related disputes. Issues in need of cross-practice advice are covered by colleagues from other teams, such as employment, corporate, tax or IP law. Additionally, the firm conducts its own accounting, resulting in expert opinions on matters such as the exact timing of over-indebtedness. Helge Hirschberger frequently manages insolvency plan proceedings or financial restructurings. Sebastian Siepmann, 'a model lawyer with great technical knowledge', focuses on insolvency contestation law, restructuring rights and financial restructurings.


‘Sebastian Siepmann is a model lawyer, great expertise, convincingly presented without attitude. His briefs are to the point. He knows how to present difficult issues in a clearly structured manner and also to convey them to non-lawyers. You like to win with him.’

Reed Smith LLP

Reed Smith LLP offers a diverse service portfolio with emphasis on financial restructurings. The group especially focuses on financial and economic reorganisation of companies, the sale and purchase of non-performing loans as well as insolvent companies, the allocation of bridge, restructuring and mass loans, or on the preparation of insolvency proceedings. Contentious matters, such as contestations and liability claims are also handled by the team. Sector knowledge exists in shipping, where the group regularly advises investors and ship financiers. Practice head Volker Kammel advises national and international investors on the acquisition of distressed companies and non-performing loans, represents clients in the enforcement of insolvency rights and contentious crisis scenarios and he also acts in financial restructurings pertaining to distressed companies.

Practice head(s):

Volker Kammel

SZA Schilling, Zutt & Anschütz Rechtsanwaltsgesellschaft mbH

SZA Schilling, Zutt & Anschütz Rechtsanwaltsgesellschaft mbH pursues a different approach by combining pre-insolvency advice and insolvency administration, covering insolvency and reorganisation, restructuring, financing and corporate M&A sectors. Key elements are corporate restructurings and refinancings of any kind. The group also focuses on transactions, such as sales and purchases of insolvent companies and insolvency assets. Financial restructuring measures, such as the acquisition of non-performing loans, debt asset swaps or debt equity swaps are part of the repertoire of the 'extremely active and reactive' team, as well as the structuring of shareholder loans or other mezzanine financing measures. Max Hirschberger and Stephan Brandes assist with pre-insolvency restructurings.  Thomas Oberle, who is renowned as 'absolutely experienced in dealing with complex, difficult constellations', and Marc-Philippe Hornung, who 'finds a practicable solution even in complex situations', are regularly appointed as insolvency administrators or trustees by insolvency courts and act as executives in self-administrations.


‘Smart, young team with experienced “rabbits”, extremely high level of expertise, balanced judgement, a strikingly pragmatic approach.’

‘Thomas Oberle is well-wired in politics and business, absolutely experienced in dealing with complex, difficult constellations, always a very attentive, emphatic approach.’

‘Marc-Philippe Hornung is the upcoming shooting star. Smart appearance, binding in tone, clear on the matter. Absolutely experienced in his field.’

‘The entire SZA “Insolvency Law / Restructuring Team” is very well staffed in all areas. Extremely active and reactive and, if necessary, also available beyond normal office hours. Great experience in different industries.’

‘Marc-Philippe Hornung finds a workable solution even in complex situations. Rhetorically very strong! Always available and approachable. A lot of experience and a very good network.’

‘Thomas Oberle is technically the best bankruptcy attorney for me. Extremely deep knowledge and experience.’

Key clients

KW Kranwerke

Schweizer Group Global GmbH

ZIM Flugsitz GmbH

Geschäftsführung Karlsruher SC


Work highlights

  • ZIM Flugsitz GmbH: Insolvency and restructuring advice, transferring the company to a double-profit trust, distressed M&A.
  • A large family company: Advising a large family company in the consumer goods industry on Covid-19-related refinancing of the group as well as on the outsourcing, restructuring and refinancing of a loss-making business area.
  • Retail space operator: Advice on questions of insolvency law, also with reference to the Covid-19 pandemic, taking into account subsidiaries in the DACH region.