Noerr advises Giesecke+Devrient on developing and implementing a contractual trust arrangement (CTA)


A Noerr team led by employment law partner Benjamin Jahn has advised Giesecke+Devrient GmbH on developing and implementing a complex star-shaped contractual trust arrangement (CTA). This CTA model is designed to secure group-wide obligations from the company's pension scheme, which total several hundred million euros.

The aim was not only to optimise the balance sheet and improve the equity ratio, but also to create additional securities for the benefit of several thousand current and future company pensioners of Giesecke+Devrient GmbH and its affiliated companies.

Advisors to Giesecke+Devrient GmbH: Noerr Partnerschaftsgesellschaft mbB

Lead: Benjamin Jahn (partner, Employment & Pensions, Munich)

Employment & Pensions

Paul Tophof (senior associate, Düsseldorf), Laura Adjan (associate, Munich)


Marlies Raschke (partner, Dresden), Björn Grotebrune (associated partner, Munich), Konrad Fichter (associate, Berlin)

Tax & Private Clients

Oliver Schließer (partner), Nicole Wistop (counsel), Florian Traub (senior associate, all Munich)


PR team

Employment & Pensions