ALLEN & OVERY

Comment: This highly recommended firm for corporate litigation has already accompanied a number of major D&O liability cases, for which the team headed up by Zimmerling is particularly renowned. For example, the practice often comes recommended by insurers to represent executive boards and is also instructed by insolvency administrators. As the firm does not have as strong a connection to industrial clients as, for instance, Freshfields or Gleiss, it is able to work more freely here without having to worry about conflicts of interests. Cases concerning vocational and professional law continue to form part of the workload, e.g. the defense against claims for KPMG concerning the P+S bankruptcy. At the interface to ?compliance, A&O draws on several of its strong corporate partners to advise DAX and MDAX companies on potential breaches of duty on the part of members of decision-making bodies. Among other things, A&O is active for various banks with regard to alleged breaches of duty in connection with dividend stripping (“cum-ex”) deals. On a less positive note, the firm recently lost a partner who has quite the reputation for his work in stock corporation law: Dr. Hans-Christoph Ihrig has since moved to Ihrig & Anderson.
Strengths: Corporate practice with established links to listed corporations and international Mittelstand companies.
Recommended: Dr. Marc Zimmerling, Dr. Hans Diekmann.
Practice: Advice to companies and directors on liability and ?compliance, incl. with ?insurance expertise related to D&O; regularly litigation as a field adjacent to advice on stock corporation law, therefore: legal challenges, approval and objection proceedings, also following structural measures and AGM support. Clients: strong focus on listed companies, banks and insurers. (Corporate: 15 partners, 5 counsel, 40 associates, 2 of counsel; dispute resolution: 9 partners, 5 counsel, 37 associates)
Clients: ?? Public knowledge: Deutsche Bank in legal challenges and action for disclosure emerging from AGM; KPMG against claims on P+S bankruptcy; National Bank of Canada as indirect shareholder of the German Maple Bank due to alleged tax evasion (“cum-ex”); Evonik in objection proceedings for Evonik (Degussa); RBV in objection proceedings concerning BEAV and squeeze-out.
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