Comment: This firm is recommended in corporate. Its core work still lies in international restructuring in cooperation with Deloitte’s consulting and tax arms. The amount of work from the US grew. The legal arm is becoming increasingly established in the market. The corporate team, for example, continued working on a significant tax-heavy restructuring instruction, even though the leading tax advisor moved to another organization. The fact that the legal team is also playing a starring role in the international advice to a corporation such as Covestro is a positive signal. The Hanover office is still the exception: as one of the market leaders in the region, the firm has remarkably good ties to the Mittelstand in north Germany and advised Hannover Finanz on setting up a new automotive consortium from several acquisitions. A similar penetration into the Hamburg and Stuttgart markets, however, has proven more difficult.
Strengths: International restructuring.
Development potential: The firm deliberately foregoes a litigation specialty (due to potential conflicts of interest within the firm as a whole); this limits further progress in corporate. Deloitte will have to remedy this, given the increasing importance of D&O issues.
Recommended: Georg Lehmann, (“dedicated and top-qualified, very good analyst, quick grasp, works quickly and reliably”, client), Dr. Gregor Bender, Dr. Harald Stang (“long and good cooperation”, client), Andreas Karpenstein, Felix Felleisen, Michael Schneider (“flawless advice, always pleasant and highly professional”, client), Dr. Michael von Rüden (“very competent and dedicated in larger, more complex instructions, also personable”, client).
Practice: Traditional focus in Düsseldorf, Hanover and Hamburg. Advice to heavy industry, chemicals, fashion, electronics, real estate, the financial and food sectors. (10 equity partners, 11 salary partners, 3 counsel, 33 associates)
Clients: ?? MS Global/Covestro all-round, incl. compliance; Wüstenrot Holding on spinoff of share package; Henkel on structuring projects in connection with internally financing acquisition; Aliaxis on spinoff of operational business divisions; Hannover Finanz on consolidation of portfolio companies.
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