Restructuring

In addition to our traditional core activities, in the past few years we have developed our restructuring practice and achieved wide recognition in this field as well. Corporate International Magazine selected us as “Domestic Insolvency Firm of the Year 2010 in Germany”. This award was earned for having successfully advised clients on a number of very large and complex transactions.

For example, we advised a consortium of investment groups made up of Apollo, TowerBrook, and York on a debt-for-equity-swap in the restructuring of the Monier Group, one of the largest transactions of its kind in Germany to date; the management of the Stabilus Group in connection with its takeover by the financial investor Triton in a loan-to-own transaction; and Triton in the tender process to acquire the insolvent department store chain Karstadt. During the recent crisis, we also advised a number of leveraged portfolio companies and their investors on waivers, standstills, covenant resets, subordination agreements, and refinancings.

The primary objectives of our restructuring practice are to avoid insolvency, to secure at least part of our clients’ receivables (by way of a favorable recovery rate or a debt-for-equity-swap), or to use them as an opportunity to continue the enterprise, at least in part, through self-administration or third-party investment. We also advise management on all legal aspects of the crisis and related liability risks. If necessary, we cooperate closely with other advisers (including insolvency administrators) to achieve our objective.

In essence, we combine our knowledge and expertise in the fields of insolvency law, financing law, securities law, corporate law (in particular capital maintenance law), and valuation (including the preparation of statements of over-indebtedness). The close interlinkage between our knowledge base and our practical transaction experience makes us an effective partner, not only for investors and funds specializing in problem loans, but also for medium-sized enterprises and their management.

Our Lawyers

Contact

Heymann & Partner Rechtsanwälte mbB
Westend Carrée
Grüneburgweg 16-18
60322 Frankfurt

Routing/Location

+49 (0)69 768 063-0

info@heylaw.de

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