Noerr advises former Eurocity Bank AG in liquidation proceedings, including pension buyout

Noerr has successfully advised Eurocity AG i.L. (formerly Eurocity Bank AG) on its recently completed liquidation and a pension buyout. The matter covered the winding‑up of the company, the transfer of pension obligations and employment law issues.

The dissolution of the company, which initiated the corporate winding‑up process, was resolved by an extraordinary general meeting on 24 March 2023, after the European Central Bank had revoked the company’s banking licence at the end of 2022.

Our partner Stephan Schulz took the lead in advising on stock corporation law, in particular on the liquidation process, corporate resolutions and general meetings.

As part of the liquidation, a pension buyout, i.e. the transfer of pension obligations to a specialised pension provider, was implemented under the joint leadership of our partners Benjamin Jahn and Stephan Schulz. The direct and indirect pension obligations of Eurocity AG were transferred to a pension buy-out company. To secure these obligations, a contractual trust arrangement (CTA) was established; the shares in the pension buy-out company were then sold to Lurse Vergütung und Versorgung GmbH.

Our partner Patrick Mückl and his team advised Eurocity AG on general employment law issues.

Advisors to Eurocity AG: Noerr Partnerschaftsgesellschaft mbB

Lead: Stephan Schulz (partner, Hamburg, Capital Markets), Benjamin Jahn (partner, Munich), Patrick Mückl (partner, Düsseldorf, both Employment & Pensions)

Capital Markets: Juri Stremel (associated partner, Hamburg), Anne-Kristin Schiller (associated partner, Berlin), Jan Lohse (senior associate, Hamburg)

Employment & Pensions: Paul Tophof (associated partner, Berlin)