Distressed Disputes
Rather than just taking the traditional approaches, Noerr opens up perspectives enabling us to anticipate solutions to conflicts that are expected to arise or have already arisen and to tackle them effectively. This strategy helps us ensure the best possible safeguards when dealing with disputes associated with distressed situations and insolvency.
Our experienced Distressed Disputes team works hand in hand across the various subject areas, practice groups and offices
(JUVE 2020)
(The Lawyer European Awards 2022)
The current global developments and the unrelenting economic crisis are making themselves felt at many levels. Countless institutions, companies and their board members are affected, whether as debtors, creditors, guarantors, investors or other contracting parties. The causes of this are manifold, and the consequences are mostly far-reaching.
Noerr has set up a Distressed Disputes team to act for clients in legal disputes involving restructuring and insolvency matters. Our many years of experience in these fields mean that we have unique insights into how to resolve disputes calling for the combined know-how of our Restructuring & Insolvency, Banking & Finance and Dispute Resolution practice groups.
One of the key strengths of our Distressed Disputes team is their excellent, well-established professional and personal links formed by regular cooperation between the practice groups. This generates synergy effects that we can leverage and use to your benefit. Even before potential disputes become a reality, our team can help identify and reduce any risks possibly leading to liability on the part of companies and their board members.
Our services
- Financial disputes involving distressed financing and investments
- Responsibility and liability of directors and officers as well as lender liability relating to or following failed restructuring projects
- Actions to set aside involving security or payments made following the provision of funding
- Post-M&A disputes resulting from breaches of insolvency-related guarantees
- Insurance coverage designed to safeguard transactions (W&I insurance)
- D&O insurance coverage for damages payments in connection with restructuring projects
- Regulatory disputes on account of restructured financing facilities
- Forum shopping – selecting legal venues in Germany or other countries, including arbitration
- Debt collection, asset recovery and injunctive relief, including confiscation orders in Germany and other countries
Selected projects
Insolvency disputes
- Fidelis Insurance Ireland DAC
Providing insurance-related advice to the excess loss reinsurance company in connection with claims under a W&I insurance policy on account of the alleged insolvency of one of the target company’s subsidiaries at the time of conclusion of the SPA and closing - Galapagos N.V.
Defending the security agent against an action to set aside transactions performed during insolvency brought by the insolvency administrator - P+S Werften
Acting for the dockyard’s insolvency administrator in claims for damages brought against a restructuring expert
Restructuring disputes
- US private equity investor
Advising on the pursuit of legal claims, including for injunctive relief, and the subsequent takeover of an interest held by a joint venture partner due to its misconduct in connection with the restructuring of several venture capital companies (Cologne Regional Court, Cologne Higher Regional Court) - Global hedge fund
Assisting in a dispute with a financial advisor concerning contractual remuneration and damages relating to corporate financing in the three-digit million range provided for restructuring purposes (Bremen Regional Court and Bremen Higher Regional Court; Essen Regional Court) - Service company
Defending the company against numerous actions to set aside transactions and against counterclaims, including injunctions due to actions to set aside transactions filed by a former business partner following the liquidation of a subsidiary (Dusseldorf Regional Court and Dusseldorf Higher Regional Court) - International industrial company specialising in refrigeration systems
Enforcing foreign judgments by foreclosing against an individual company located in Germany, including negotiating a foreclosure agreement and enforcing claims during the subsequent insolvency proceedings - German financial institution
Advising and representing the client in a range of disputes in and out of court relating to the wind-down of its business activities, especially defending it against a legal action filed because of failed acquisition financing - Several national and international banks
Advising several national and international banks on pursuing and securing their claims amounting to €520 million against debtor Orpea S.A. in the context of dispute settlement proceedings and restructuring proceedings subsequently initiated in France
D&O liability due to restructuring
- Former management board member of a listed company
Defending the former management board member of a listed company in the solar industry against D&O liability claims due to payments allegedly made after the company was technically insolvent - Former chair of the supervisory board of a residential construction group
Defending the client against claims for damages based on an accusation of liability on the part of the supervisory board brought before Stuttgart Regional Court following the company’s insolvency - Managing director of a chemical production company
Defending the managing director against claims for damages for delaying insolvency brought by the insolvency administrator
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“What makes the practice stand out is its great experience in cor-porate disputes, especially issues involving D&O liability, and equally its advice on matters also calling for an additional under-standing of insolvency and restructuring matters.”
JUVE, 2022/2023“I’m very impressed by the advice and expertise provided by Noerr. The cross-disciplinary team from Noerr Partnerschaftsgesellschaft mbB also brings together experience from the fields of litigation, corporate, insolvency and insurance law. This ensures that clients get advice that is as high-quality as possible and above all well-informed, which I can certainly confirm. These capabilities create a solid foundation for trust and cooperation.”
Colette Rückert-Hennen, management board member