Restructuring & Insolvency Law

Cases of corporate crises, restructuring and insolvency are a particular challenge for all parties involved and demand solutions that are both fast and on target. Decisions such as these concern job protection, sustainable reorganisation, supply chain maintenance and, for the executives involved, often the limitation of personal (liability) risks as well. In this context, it is crucial to consider industry-specific characteristics on the economic and legal level, for instance in the automotive and aviation industries. Cross-border matters often make a successful reorganisation of businesses even more complex.

Entrepreneurial thinking and behaviour in situations like these therefore always means making fast but sustainable decisions to secure a future for the business. To enable such decisions, businesses and their decision-makers must be aware of all possible courses of action and legal strategies at all times during a crisis, and must know exactly which specific options are available in each situation.

Your Restructuring and Insolvency Law Team

Eversheds Sutherland provides advice on all aspects of reorganisation and insolvency, specifically with regard to cross-border reorganisations, restructurings and insolvency proceedings. In this context, we represent our clients in non-contentious as well as in contentious matters, such as in liability and avoidance proceedings.

We advise businesses as well as their management or shareholders during the development and implementation of reorganisation and refinancing solutions. In this context, we provide comprehensive support to distressed businesses and are aware of the specific challenges of international group and financing structures.

Working for creditors, we are by our clients' side during the entire life cycle of the proceeding, starting with the design of contracts which minimise insolvency risks, advice on the correct behaviour in situations of crisis and, ultimately, support regarding the assertion of claims and the enforcement of security rights in formal insolvency proceedings.

We also advise purchasers as well as insolvency administrators regarding the purchase/sale of companies from the insolvency estate.

Last but not least, we provide crisis-related support in the areas of commercial and distribution law, regarding insured loss as well with respect to insolvency-related employment and tax law matters – often on the side of the insolvency or debtor-in-possession management as well.

The specific strengths of our restructuring practice include its sector-specific experience and its international reach and seamless cooperation as a cross-border team. We regularly work together with various national and international teams, especially in Central and Eastern Europe, as well as with lawyers from the areas of corporate law, M&A, labour and employment law, finance law and tax law – this enables us to solve your individual problems as a well-balanced team, irrespective of where in the world these arise and whether your role is that of a creditor, a debtor or a court-appointed reorganisation expert.

Our services

• Businesses and management:
  • Advice in the contexts of crisis prevention and out-of-court reorganisation
  • Advice regarding the initiation and management of insolvency proceedings, in particular where a debtor-in-possession management and a reorganisation via an insolvency plan is intended
• Creditors:
  • Advice regarding the restructuring/dissolution as well as the sale and acquisition of non-performing loans
  • Advice on the handling of insolvency and similar proceedings in Germany and abroad
  • Advice on the protection and realignment of business relationships
  • Representation in creditors' committees, also in connection with insolvency plan procedures
• Shareholders : Advice on the reorganisation or liquidation of companies, particularly in cross-border situations
• Investors : Acquisition of companies in crisis and insolvency situations – including by way of acquisitions of non-performing loans and debt-to-equity swaps or insolvency plans
• Insolvency administrators and debtors in debtor-in-possession management : Advice in legal disputes and ongoing cross-border matters; advice on the sale of assets and ownership interests from ongoing insolvency proceedings

Our Expertise

• Advising the International Air Transport Association (IATA) in connection with various insolvency proceedings of airlines and travel agencies
• Supporting British administrators during the concept and initiation stage as well as during the implementation of debtor-in-possession proceedings regarding a German subsidiary (automotive supplier) including the international coordination of the proceedings up to the conclusion of the investors' process
• Negotiations with the insolvency administrator of German supplier companies for an international automotive corporation (OEM) regarding various continuation agreements
• Advising companies in the supply chain regarding preventive measures to protect supply and tool ownership in case of a supplier insolvency
• Advising US software providers on the restructuring and reorganisation of the German business
• Advising various insolvency administrators on the sale of companies and parts of companies from insolvency to international investors
• Providing advice regarding the implementation of continuation and production wind-down scenarios
• Asserting avoidance and payment claims in Central and Eastern Europe as well as in China

Awards

WirtschaftsWoche 2022 names Eversheds Sutherland as a top legal practice for restructurings - Dr. Christian Hilpert and Dr. Anne Deike Riewe particularly recommended for restructurings.