We support project developers, contractors and financial backers in navigating the challenging economic environment for new buildings and development projects. Many projects cannot currently be completed under the originally planned terms or sold at the anticipated purchase price. This is due to the sharp rise in construction and energy costs, as well as the interest rate hikes expected to be introduced by the ECB. We provide advice on refinancing, securing liquidity and any necessary restructuring measures.
With our support, clients and institutional investors can invest existing funds, structure transactions and adapt joint venture configurations in a way that is insolvency-proof.
Your challenges
Our solutions
- Reviewing the obligation to file for insolvency, ensuring compliance with insolvency law, advice and structuring of insolvency proceedings and proceedings under the Act on the Stabilisation and Restructuring Framework for Businesses (StaRUG) (e.g., insolvency with debtor-in-possession management, termination rights during insolvency)
- Restructuring real estate projects and adapting the shareholder structure in joint ventures through appropriate procedures
- Advice on enforcement issues, the enforcement of claims and settlement agreements with the insolvency administrator
- Advising principals in the event of stalled construction progress or 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; negotiating with financing banks on the release of collateral and redemption agreements; negotiating agreements on the completion of projects
- Renegotiating purchase prices, due dates, rents and/or handover dates in forward deal and funding constellations and project lease agreements
- Negotiating with existing lenders and structuring the provision of additional equity and debt capital
- Enforcing and defending against outstanding claims for (construction) services already rendered
- Asserting and defending against counterclaims by the principal
- Advice on complex, cross-border legal issues and disputes with international contractual partners
- Advising regulated investors (e.g. capital management companies) on regulatory requirements for restructuring and avoiding liability