Latham & Watkins LLP

Latham & Watkins LLP ‘s restructuring team offers longstanding expertise in financial and operational restructuring, including cross-border matters, and has experience in insolvencies and distressed M&A; Jörn Kowalewski frequently advises distressed investors, lenders, lender groups and steering committees as well as debtors, shareholders and governing bodies. In addition to financial and operational restructuring, practice head Frank Grell also assists with insolvency-related litigation and refinancing, while Ulrich Klockenbrink primarily supports large restructurings, distressed M&A and takeovers as well as in and out-of-court enforcements. Counsel Hendrik Hauke regularly advises on takeovers of distressed companies.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

'Ulrich Klockenbrink is an absolute expert in the area of restructuring and brings in good strategic perspectives, while still remaining approachable.'
'Jörn Kowalewski: Great strategist with incredible communication and moderating skills.'
'Jörn Kowalewski and Frank Grell are very competent and provide quick and good support.'
'Great professional breadth including related topics outside of restructuring.'
'Very good service, quick advice and help. Pragmatic and empathetic.'
'Frank Grell delivers particularly pragmatic solutions with a great deal of sensitivity for interpersonal relationships; Perfect for quick and quiet reorganisations.'
'Frank Grell and Jörn Kowalewski, both are currently among the outstanding restructuring professionals with broad market responsibility and are present at all levels (debtor, creditors, customers, investors, etc.)'
'The team has been at the top of the market for years, especially in the automotive sector. Always up-to-date and creative.'

Key clients

ACCENTRO Real Estate AG
All 4 Golf
Insolvenzverwalter Air Berlin
Barings
Bundesverband deutscher Banken e.V. (BdB)
Centerbridge Partners
Commerzbank
EMAG
Huf Hülsbeck & Fürst
Hülsta
LEONI AG
Löwen Play / Safari Holding Verwaltungs GmbH
NordLB
Postbank AG
SGB Smit
Schur Flexibles
Scholz Holding

Work highlights

Advising the listed ACCENTRO Real Estate AG on the comprehensive refinancing of two bonds in accordance with the German Debt Securities Act with a total volume of over €350 million.
Advising the Steering Committee of the lenders of the Benteler Group, consisting of Commerzbank AG, DZ BANK AG, Erste Group Bank AG, Landesbank Baden-Württemberg and Norddeutsche Landesbank, on the now completed full €2 billion refinancing, which is part of a fundamental restructuring of the Benteler Group.
Advice on the restructuring of Leoni AG, in particular on the restructuring of its financing on the basis of several financing instruments such as a syndicated loan, bilateral loans, promissory notes, factoring and sale-and-lease-back with a volume of over €2 billion, most recently in connection with the first major StaRUG process in the German market, which includes an overall solution for all financing lines and a restructuring of the shareholder side.