We support companies and creditors in ad hoc proceedings, conciliation proceedings and insolvency proceedings and assist them in any related litigation.
Distressed companies
Preventing financial difficulties
ad hoc mandates, conciliation, and mediation
Insolvency proceedings
safeguarding, rehabilitation, and court-ordered liquidation
Preparing proceedings
commencement application, summons, and requests
Management of the observation period, relations with receivers and court-appointed agents, appearances before the commercial courts
Negotiation, drafting and monitoring of conciliation agreements, safeguarding and continuation plans
Enforcement of security interests and guarantees
Investor advice (takeover offers) and relationships with procedure bodies
Executive liability
for mismanagement, prohibition of management, safeguarding of assets
Claim filings, appointment as controller
Selected representations
- Assisted a group of distressed businesses, starting with filing applications for safeguard proceedings and up to the final decision approving the plan, and monitoring litigation against various financial institutions and creditors.
- Developed a strategy in view of the commencement of a rehabilitation procedure for a key supplier of a chemical refinery, and monitored negotiations with the receiver in order to secure the contractual agreements.
- Recovery claim against a company under court-ordered rehabilitation and enforcement of the decision.
- Assisted de jure and de facto executives of companies in insolvency proceedings following a liability claim for mismanagement, and monitored claims against the civil liability insurer (D&O policy).
- At the request of the liquidator of a software company, sought the liability of a fund that made a commitment to buy shares of the company (which was in rehabilitation proceedings at the time) and failed to do so, resulting in the court-ordered liquidation of the company.
- Assisted a bank’s defeasance company with receivable recovery and defended it in an action commenced by the liquidator of a major client of the bank for abusive extension of credit.
- Defended a toy manufacturer in various legal proceedings initiated by lending banks and the liquidator following the manufacturer’s acquisition of a stake in the capital of a company whose rehabilitation failed. Assisted in various other criminal proceedings against the former managers and auditors and in civil proceedings against the receiver and financial institutions.
