Comment: Besides a flourishing trustee business, this firm recommended for corporate rescue and respected in insolvency administration is enjoying more visibility in distressed transactions, e.g. for Kronenbrot and the sale of fashion chain Wöhrl. Wellensiek is very active in litigation, esp. defense in claims against former managers or executives, although the Berlin office, which was known for this specialty, spun off a year ago. Long-time Heidelberg partner Dr. Michael Flitsch went to Anchor. New appointments in insolvency proceedings were few, in line with the market, but the firm’s expertise came into play in the major self-administration cases Cinram and Strube Saatgut.
Strengths: Focus on insolvency and corporate rescue.
Recommended: Alfred Hagebusch, Christopher Seagon, Dr. Richard Scholz.
Practice: Crisis and insolvency advice to companies, shareholders, management, banks and investors (national and international); takeover of operational roles. Frequent trusteeships; external pool management; litigation. Distressed M&A; financial restructuring. Nationwide insolvency administration in high-profile proceedings. (8 equity partners, 5 salary partners, 1 counsel, 11 associates)
Clients: ?? Glencore on refinancing German Recylex Group; Strube Saatgut and Cinram management regarding self-administration; Signal Capital fund on acquisition of Kronenbrot; General Motors on restructuring Takata. Insolvency administration: Carbon Rotec (Nordenham).
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