Restructuring & Insolvency

We advise financially distressed companies as well as their equity and debt stakeholders and their management, supervisory and advisory boards on a broad range of restructuring matters. We help clients navigate the legal challenges arising from looming capital requirements, upcoming debt maturities, litigation-related events and liquidity shortfalls. Our experts regularly support clients through these challenging situations, both in and out of court. A particular focus of our practice is the restructuring of a wide range of debt instruments, including loans and bonds, whether structured as senior or mezzanine financing, with the aim of preventing insolvency. We also advise on bridge financing and other measures designed to provide companies with the liquidity and time required to implement sustainable restructuring solutions.

We have extensive experience in advising and representing investors pursuing investments in or acquisitions of distressed companies, both prior to and following the commencement of insolvency proceedings. Our expertise covers a broad range of transaction structures, including share and asset acquisitions, equity investments and debt-to-equity conversions (“loan-to-own” strategies). We also regularly advise specialist debt funds on the acquisition of distressed debt and distressed debt portfolios, including non-trading debt.

Our restructuring and insolvency practice covers a broad range of contentious matters arising in distressed situations. This includes, in particular, the enforcement of claims and security interests in insolvency proceedings, as well as the representation of clients in insolvency-related litigation and other restructuring disputes.

Net operating losses (NOLs) can represent a significant asset for financially distressed companies. In the context of distressed transactions and debt restructurings, preserving NOLs to the extent possible is therefore often a key consideration. We advise clients on the tax aspects of such transactions, with a particular focus on mitigating corporate income tax and stamp tax exposure and structuring debt restructurings in a tax-efficient manner.