WHITE & CASE

Comment: For this leading firm in insolvency administration, which comes highly recommended for restructuring advice, 2016/17 may be a turning point. While W&C’s skill as an administration firm with some very experienced names and a broad base of next-generation talent is undisputed, it needed longer to gain similar recognition in restructuring. But it is clear, certainly since the advice to HSH Nordbank regarding the crisis facing shipping company B. Rickmers, that W&C is now one of the foremost names for restructuring advice to banks in the maritime sector, both in Germany and internationally. In cross-border cases like Jack Wolfskin or Scholz, however, W&C shows it is not confined to the maritime sector. This diversification came at the right time, given the tough administration market.
Strengths: International offices with insolvency law expertise, experience with major insolvency proceedings, maritime sector expertise.
Development potential: The devotion to restructuring is mainly driven from Hamburg, fueled by the shipping crisis. The Düsseldorf office is always good for major proceedings with excellent administrator Bähr, but does not use the potential breadth W&C offers for crisis-related advice consistently. Setting up a specialist litigation practice at this office is a start.
Recommended: Dr. Sven-Holger Undritz (“superb communicator, brings everyone back to the table in the biggest crises”, client), Dr. Biner Bähr (“delivers what he promises”, client; “very good administrator, continuation-focused and efficient”, competitor), Dr. Jan-Philipp Hoos, Sylvia Fiebig (“vast market expertise”, client), Dr. Tom Schorling (“very constructive and cooperative”, client).
Practice: Advice to banks and other creditors on refinancing; advice to companies and management in crisis; creditor litigation prior to and during insolvency; investors on distressed deals ( ?M&A), ?bank lending and acquisition finance, ?state aid law. Administration work by 14 administrators almost nationwide, experience in major proceedings with high logistical demands, litigation for insolvency administrators and creditors. (11 equity partners, 9 salary partners, 22 associates)
Clients: ?? HSH Nordbank on attempted extrajudicial restructuring and insolvency of shipping company Rickmers; GSO Capital as junior creditor regarding Jack Wolfskin restructuring; ongoing, global advice to Daimler regarding insolvency of suppliers, incl. Takata. Insolvency administration: Gebrüder Kemmerich (Siegen). Trustee: Stockheim Group (Düsseldorf).
  • Teilen