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We support project developers, contractors and financiers in navigating the difficult economic environment for new buildings and development projects. Many projects cannot currently be completed under the originally planned terms or sold at the envisaged purchasing price. This is due to the sharp rise in construction costs, rocketing inflation and the significant interest rate hikes introduced by the ECB. We can advise on how to successfully refinance, secure liquidity or, if necessary, restructure your projects. We advise clients and institutional investors on how to invest existing funds, structure transactions and adapt joint venture situations in an insolvency-proof manner.

Your challenges

Our solutions

  • Examining the obligation to file for insolvency, ensuring compliance with insolvency law, advice and structuring of insolvency proceedings or proceedings under the Act on the Stabilisation and Restructuring Framework for Businesses (StaRUG) (e.g., solution through insolvency with debtor-in-possession management, termination rights during insolvency)
  • Restructuring of real estate projects and adapting the shareholder structure in joint ventures through appropriate procedures
  • Advice on enforcement issues, enforcement of claims and settlement agreements with the insolvency administrator
  • Advising principals in the event of stalled construction progress and financing issues on the part of the contractor; negotiating continuation agreements and reviewing the restructuring documentation
  • Advising investors on concluding purchase agreements for development projects in the event of the seller’s insolvency; negotiations with the financing banks on the release of collateral and redemption agreements; negotiating agreements on the completion of projects
  • Renegotiating purchase prices/due dates/rents/handover dates in forward deal and funding constellations and project lease agreements
  • Negotiations with existing lenders, handling the provision of additional equity and debt capital
  • Enforcement of/defence against outstanding claims for (construction) services already rendered
  • Assertion of/defence against counterclaims of the principal
  • Advice on complex, cross-border legal issues and disputes with foreign contractual partners
  • Advising regulated investors (e.g. asset management companies) on regulatory requirements for restructuring and avoiding liability