Europe - Germany • Restructuring and insolvency
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Restructuring

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Clifford Chance

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Clifford Chance 's German restructuring team acts integrated into the international network of the firm's global restructuring, distressed M&A and litigation practices and offers longstanding expertise in cross-border contentious and non-contentious restructuring proceedings and is regularly instructed by banks, financiers, funds and companies. Practice head Stefan Sax focuses on cross-border financial restructurings and insolvencies. In June 2024, Patrick Schulz and Andreas Steiger  joined the team from Sidley Austin LLP, followed by their former practice head Kolja von Bismarck in September 2024; all three focus on cross-border transactions and frequently assist with complex capital structures. Associate Diana Schoch is another key contact and advises banks, financial investors, companies and insolvency administrators on various restructuring projects.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • 'Martin Jawansky: Personality calms tense negotiation situations; excellent moderation.'

  • 'Strong external presence. High level of technical competence and quick response. Large network and international presence.'

  • 'Stefan Sax deserves special mention: strong assertiveness and very good negotiating skills. Always very well-founded legal answers, high level of technical competence. Not without reason has he got a high professional reputation in the restructuring industry.'

  • 'The team is characterized by a very high level of expertise and a commitment that is far above average.'

  • 'Stefan Sax is well connected in the community. He knows how to present complex issues in an understandable way and always manages to recruit and develop highly qualified young talent for Clifford Chance. His professional expertise is generally recognized in the industry.'

  • 'Diana Schoch: Professionally beyond reproach, very committed and available to clients at all times. Has a very integrative effect in larger and controversial banking pools.'

Key clients

  • BNP Paribas
  • Deutsche Bank AG
  • Oldenburgische Landesbank AG
  • UniCredit AG
  • Commerzbank AG

Work highlights

  • Advising an Austrian entrepreneur on a transaction in which 100% of the shares of LEONI AG were indirectly acquired. The takeover took place in August 2023.
  • Advising the senior creditor of the Takko Fashion Group, headquartered in Germany, on the implementation of a consensual restructuring of the corporate and financial structure.
  • Advising Austrian B&C Group on the sale of its 80% stake in Atlas Flexibles GmbH to a new group of owners led by Apollo and other Schur creditors as part of the financial (consensual) restructuring.

Lawyers

Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Kolja von Bismarck
Hall of fameClifford Chance
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Diana Schoch
Clifford Chance
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Stefan Sax
Clifford Chance
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Patrick Schulz
Clifford Chance
Andreas Steiger
Clifford Chance

Practice head

The lawyer(s) leading their teams.

Stefan Sax

Other key lawyers

Andreas Steiger, Patrick Schulz, Martin Jawansky, Diana Schoch, Kolja von Bismarck