About

The financial institution Deutsche Pfandbriefbank is a Hypo Real Estate Holding subsidiary, which is supposed to privatise the bank by 2015, according to a ruling by the EU Commission. Therefore, Nils Wunderlich is part of a legal department that has been and will be facing a myriad of challenges. Part of this has been ‘transferring the strategically non-vital portfolio of HRE group to FMS Wertmanagement’, the so-called bad bank under the umbrella of the Federal Agency for Financial Market Stabilisation (Bundesanstalt für Finanzmarktstabilisierung), with assets totalling €175bn. Part of this challenge are several EU law proceedings and the ongoing legal advice of HRE group regarding its relation to FMS Wertmanagement and the Federal Government. Wunderlich knows by experience that ‘political expectations do not always coincide with HRE group’s commercial interests and we therefore have to develop a sustainable, legally sound compromise’. By way of support when dealing with these complex tasks, he expects of external advisors ‘quick replies to questions regarding foreign law, apart from high quality which should be a given’.