Insolvency, Restructuring & Crisis Management
In times of financial uncertainty and unstable markets, companies, financial institutions and their shareholders come to us for our understanding of distressed debt, the sale of distressed assets and the restructuring of transactions and businesses. We can support you in out-of-court restructurings in order to minimise risks and maximise returns and as a creditor represent you in and out of court in relation to bankruptcy administrators, judicial liquidators, debtors and competing creditors.
You can depend on us for sensitive bankruptcy filings and restructuring issues aimed at minimising the likelihood of future legal challenges or the triggering of personal liability. We also craft solutions that mitigate the risk of successful challenges to your transaction during the applicable preference periods or set asides under avoidance rules. Our team members have extensive experience in handling contentious issues arising from restructurings and insolvencies and can advise you across the CEE/SEE region on corporate investigations, enforcement, litigation and white collar crime.
Areas of Specialisation
If you are a creditor we can represent you in domestic and cross-border insolvency proceedings, asset recovery and claims enforcement, as well as in negotiations with bankruptcy administrators or in the acquisition of assets out of insolvency proceedings. We help you in de-leveraging bank assets and advise on bankruptcy filings and restructurings to help minimise future legal challenges and potential liability hazards. We also address risks stemming from challenges to your transaction, from their characterisation as preferential to their cancellation under avoidance rules. You can also rely on our considerable experience in insolvency-related litigation.
You benefit from our long experience in successfully advising clients on complex financial products, financings and restructurings. This allows us to propose solutions best tailored to your commercial needs; allowing you to plan ahead and most effectively manage risk. We advise you on all manner of debt restructurings and work-outs, including debt re-financing and debt for equity swaps, as well as on the acquisition or sale of distressed debt. Our extensive coverage allows us to handle this seamlessly for you throughout the region.
Due to shrinking liquidity and the current recessionary environment, NPA and NPL transactions have become a world-wide phenomenon. This is especially true in the CEE/SEE region. Whether you are on buy-side or sell-side, you can rely on our considerable experience advising on all aspects of NPL transactions, often working under extremely challenging timeframes and under applicable local laws. We frequently provide work-out advice and if you are an investor we can support you in developing new financing concepts and strategies following an NPL acquisition. We also advise you on non-classic solutions such as sell-ons and specific restructurings.
Both healthy and troubled institutions sometimes struggle with their portfolios of non-performing loans and other real estate owned assets (OREO); seeking to identify solutions for effective NPA management and dispositions. Our specialised Real Estate team can advise you on cross-border real estate restructuring, property financing restructuring, real estate work-outs, and the distressed sale and acquisition of real estate. Our advice includes drafting creditor stand-still agreements, assisting with the shut-down of properties as well as with the sale of real estate or leasing portfolios, and the granting and enforcement of securities.
Whether carried out as part of an M&A transaction, due to financial distress or for tax optimisation reasons, we can advise you on all legal and tax aspects of company reorganisations and cross-border restructurings of groups. This includes intra-group restructurings by way of mergers, cross-border mergers, cross-border transformation of companies, transfer of intra-group companies, conversions, contributions, de-facto splitting and share capital increases. We help you in developing restructuring plans best suited for your business, and in implementing these plans. Our full scope service means that we can cover all related aspects such as finance, real estate, state aid or employment issues. Saving you time and nerves.
You benefit from our experience in all types of distressed transactions; from domestic and cross-border group restructurings aimed at reducing the debt burden of companies, to advising debt or equity stakeholders on optimising their legal position in the course of implementing reorganisations and turnarounds. When it comes to distressed M&A, our corporate and insolvency lawyers work hand in hand with banking and litigation experts to advise you on the acquisition of companies on the brink of insolvency or already in liquidation. This can be tricky and you need an advisor who recognises the risks and knows how to manage these. Our clients include companies, financial institutions, lenders, alternative debt and equity providers as well as special situation funds.
Whether you are in financial distress or face crises such as an administrative or government investigation, a cyber-attack or data leak, the last thing you want is the wrong message in the media making the situation worse. We work together with specialists in crisis PR to ensure the right message goes out. We also help in putting crisis management and communication plans and procedures in place, so that if it comes to the worst, you are well prepared.
Wolf Theiss is a popular choice for creditors and debtors for contentious and non-contentious restructuring and insolvency advice. The team is noted for its strong regional presence and its ability to handle major cross-border matters. It has a good track record handling distressed M&A and the acquisition of NPLs and is experienced in advising clients in heavily regulated sectors.