{"id":49221,"date":"2024-03-18T10:55:30","date_gmt":"2024-03-18T09:55:30","guid":{"rendered":"https:\/\/gsk.de\/?page_id=49221"},"modified":"2024-03-18T10:55:31","modified_gmt":"2024-03-18T09:55:31","slug":"luxembourg-and-cross-border-insolvencies","status":"publish","type":"page","link":"https:\/\/gsk.de\/en\/real-estate-restructuring\/luxembourg-and-cross-border-insolvencies\/","title":{"rendered":"Luxembourg and cross-border insolvencies"},"content":{"rendered":"<div data-component=\"HeaderMedium\" data-props=\"{&quot;image&quot;:{&quot;id&quot;:48934,&quot;title&quot;:&quot;Strategy business brainstorming ideas for marketing and busines&quot;,&quot;filename&quot;:&quot;Crossborder-Insolvenzen-in-Lux.jpg&quot;,&quot;url&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Crossborder-Insolvenzen-in-Lux.jpg&quot;,&quot;link&quot;:&quot;https:\\\/\\\/gsk.de\\\/de\\\/strategy-business-brainstorming-ideas-for-marketing-and-busines-2\\\/&quot;,&quot;alt&quot;:&quot;&quot;,&quot;author&quot;:&quot;42&quot;,&quot;description&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;name&quot;:&quot;strategy-business-brainstorming-ideas-for-marketing-and-busines-2-2&quot;,&quot;status&quot;:&quot;inherit&quot;,&quot;uploadedTo&quot;:0,&quot;date&quot;:&quot;2024-02-29T09:14:21.000Z&quot;,&quot;modified&quot;:&quot;2024-02-29T09:14:21.000Z&quot;,&quot;menuOrder&quot;:0,&quot;mime&quot;:&quot;image\\\/jpeg&quot;,&quot;type&quot;:&quot;image&quot;,&quot;subtype&quot;:&quot;jpeg&quot;,&quot;icon&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-includes\\\/images\\\/media\\\/default.png&quot;,&quot;dateFormatted&quot;:&quot;29. Februar 2024&quot;,&quot;nonces&quot;:{&quot;update&quot;:&quot;16625db8fc&quot;,&quot;delete&quot;:&quot;5c02e9adaa&quot;,&quot;edit&quot;:&quot;b8e62e54b7&quot;},&quot;editLink&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-admin\\\/post.php?post=48934&amp;action=edit&amp;lang=en&quot;,&quot;meta&quot;:false,&quot;authorName&quot;:&quot;Lisa-Marie Gundler&quot;,&quot;authorLink&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-admin\\\/profile.php&quot;,&quot;filesizeInBytes&quot;:573687,&quot;filesizeHumanReadable&quot;:&quot;560 kB&quot;,&quot;context&quot;:&quot;&quot;,&quot;height&quot;:776,&quot;width&quot;:1000,&quot;orientation&quot;:&quot;landscape&quot;,&quot;sizes&quot;:{&quot;thumbnail&quot;:{&quot;height&quot;:150,&quot;width&quot;:150,&quot;url&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Crossborder-Insolvenzen-in-Lux-150x150.jpg&quot;,&quot;orientation&quot;:&quot;landscape&quot;},&quot;medium&quot;:{&quot;height&quot;:233,&quot;width&quot;:300,&quot;url&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Crossborder-Insolvenzen-in-Lux-300x233.jpg&quot;,&quot;orientation&quot;:&quot;landscape&quot;},&quot;full&quot;:{&quot;url&quot;:&quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Crossborder-Insolvenzen-in-Lux.jpg&quot;,&quot;height&quot;:776,&quot;width&quot;:1000,&quot;orientation&quot;:&quot;landscape&quot;}},&quot;compat&quot;:{&quot;item&quot;:&quot;&lt;input type=\\&quot;hidden\\&quot; name=\\&quot;attachments[48934][menu_order]\\&quot; value=\\&quot;0\\&quot; \\\/&gt;&lt;p class=\\&quot;media-types media-types-required-info\\&quot;&gt;&lt;span class=\\&quot;required-field-message\\&quot;&gt;Erforderliche Felder sind mit &lt;span class=\\&quot;required\\&quot;&gt;*&lt;\\\/span&gt; markiert&lt;\\\/span&gt;&lt;\\\/p&gt;&lt;table class=\\&quot;compat-attachment-fields\\&quot;&gt;\\t\\t&lt;tr class=&#039;compat-field-imagify&#039;&gt;\\t\\t\\t&lt;th scope=&#039;row&#039; class=&#039;label&#039;&gt;&lt;label for=&#039;attachments-48934-imagify&#039;&gt;&lt;span class=&#039;alignleft&#039;&gt;Imagify&lt;\\\/span&gt;&lt;br class=&#039;clear&#039; \\\/&gt;&lt;\\\/label&gt;&lt;\\\/th&gt;\\n\\t\\t\\t&lt;td class=&#039;field&#039;&gt;&lt;div class=\\&quot;imagify-data-actions-container\\&quot; data-id=\\&quot;48934\\&quot; data-context=\\&quot;wp\\&quot;&gt;\\n\\t&lt;a href=\\&quot;https:\\\/\\\/gsk.de\\\/wp-admin\\\/admin-post.php?action=imagify_manual_optimize&amp;#038;attachment_id=48934&amp;#038;context=wp&amp;#038;_wpnonce=7f2ab032ae\\&quot; class=\\&quot;button-primary button-imagify-optimize\\&quot; data-processing-label=\\&quot;Optimierung l\\u00e4uft\\u00a0\\u2026\\&quot;&gt;\\n\\tOptimieren&lt;\\\/a&gt;&lt;span class=\\&quot;attachment-has-backup hidden\\&quot;&gt;&lt;\\\/span&gt;&lt;\\\/div&gt;&lt;\\\/td&gt;\\n\\t\\t&lt;\\\/tr&gt;\\n&lt;\\\/table&gt;&quot;,&quot;meta&quot;:&quot;&quot;},&quot;acf_errors&quot;:false},&quot;title&quot;:&quot;&lt;mark style=\\&quot;background-color:rgba(0, 0, 0, 0)\\&quot; class=\\&quot;has-inline-color has-primary-color\\&quot;&gt;Luxembourg and &lt;\\\/mark&gt;&lt;br&gt;&lt;mark style=\\&quot;background-color:rgba(0, 0, 0, 0)\\&quot; class=\\&quot;has-inline-color has-primary-color\\&quot;&gt;cross-border insolvencies&lt;\\\/mark&gt;&quot;,&quot;list&quot;:&quot;&lt;li&gt;SPOTLIGHT&lt;\\\/li&gt;&lt;li&gt;RESTRUCTURING&lt;\\\/li&gt;&lt;li&gt;LUXEMBOURG&lt;\\\/li&gt;&quot;,&quot;align&quot;:&quot;full&quot;,&quot;isEditor&quot;:false,&quot;text&quot;:&quot;&quot;,&quot;content&quot;:&quot;&quot;}\"><\/div>\n\n\n<div class=\"kb-row-layout-wrap kb-row-layout-id49221_c8ad15-65 alignnone kt-row-has-bg introcontainer wp-block-kadence-rowlayout\"><div class=\"kt-row-layout-overlay kt-row-overlay-gradient\"><\/div><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-middle\">\n\n<div class=\"wp-block-kadence-column kadence-column49221_775478-f3\"><div class=\"kt-inside-inner-col\">\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Whatever projects are undertaken by project developers, construction companies and institutional investors in the real estate sector in Germany, an investment fund or corporate structure based in Luxembourg usually forms an integral part of larger real estate projects. Especially in difficult times, enforcing Luxembourg-based collateral, restructuring financial liabilities, adjusting the legal structure or investing in suitable opportunities are top priorities. We are systematically positioned to deal with such cross-border projects and to develop customised solutions from the perspective of tax law and other fields of law for both Germany and Luxembourg.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Your challenges<\/h4>\n\n\n<div\n    data-component=\"FactBoxContainer\"\n    data-props=\"{\n    &quot;align&quot;: &quot;full&quot;,\n    &quot;title&quot;: &quot;&quot;\n}\"\n    data-prop-children=\"\n&lt;div data-component=&quot;FactBoxSmall&quot; data-props=&quot;{&amp;quot;title&amp;quot;:&amp;quot;1.&amp;quot;,&amp;quot;text&amp;quot;:&amp;quot;Enforcement of Luxembourg collateral&amp;quot;,&amp;quot;align&amp;quot;:&amp;quot;full&amp;quot;,&amp;quot;background&amp;quot;:&amp;quot;#00829A&amp;quot;,&amp;quot;content&amp;quot;:&amp;quot;&amp;quot;}&quot;&gt;&lt;\/div&gt;\n\n\n&lt;div data-component=&quot;FactBoxSmall&quot; data-props=&quot;{&amp;quot;title&amp;quot;:&amp;quot;2.&amp;quot;,&amp;quot;background&amp;quot;:&amp;quot;#4DA8B8&amp;quot;,&amp;quot;text&amp;quot;:&amp;quot;Event of default&amp;quot;,&amp;quot;align&amp;quot;:&amp;quot;full&amp;quot;,&amp;quot;content&amp;quot;:&amp;quot;&amp;quot;}&quot;&gt;&lt;\/div&gt;\n\n\n&lt;div data-component=&quot;FactBoxSmall&quot; data-props=&quot;{&amp;quot;title&amp;quot;:&amp;quot;3.&amp;quot;,&amp;quot;text&amp;quot;:&amp;quot;Restructuring of financing&amp;quot;,&amp;quot;align&amp;quot;:&amp;quot;full&amp;quot;,&amp;quot;background&amp;quot;:&amp;quot;#00829A&amp;quot;,&amp;quot;content&amp;quot;:&amp;quot;&amp;quot;}&quot;&gt;&lt;\/div&gt;\n\n\n&lt;div data-component=&quot;FactBoxSmall&quot; data-props=&quot;{&amp;quot;title&amp;quot;:&amp;quot;4.&amp;quot;,&amp;quot;background&amp;quot;:&amp;quot;#4DA8B8&amp;quot;,&amp;quot;text&amp;quot;:&amp;quot;New investments in distressed debt or other opportunities&amp;quot;,&amp;quot;align&amp;quot;:&amp;quot;full&amp;quot;,&amp;quot;content&amp;quot;:&amp;quot;&amp;quot;}&quot;&gt;&lt;\/div&gt;\n\n\n&lt;div data-component=&quot;FactBoxSmall&quot; data-props=&quot;{&amp;quot;title&amp;quot;:&amp;quot;5.&amp;quot;,&amp;quot;text&amp;quot;:&amp;quot;Restructuring agreements&amp;quot;,&amp;quot;align&amp;quot;:&amp;quot;full&amp;quot;,&amp;quot;background&amp;quot;:&amp;quot;#00829A&amp;quot;,&amp;quot;content&amp;quot;:&amp;quot;&amp;quot;}&quot;&gt;&lt;\/div&gt;\n\n\"\n><\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-primary-color\">Our solutions<\/mark><\/h4>\n\n\n\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<ul class=\"wp-block-list\">\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">Advice on all cross-border structuring issues relating to fund and corporate taxation<\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">Assistance in all matters relating to the realisation and enforcement of collateral and contractual agreements in Luxembourg and representing client interests before the courts in Luxembourg<\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">Extensive expertise in existing joint ventures, exits or setting up new corporate structures<\/mark><\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<ul class=\"wp-block-list\">\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">Cross-border specialists for alternative and regulated investment funds with answers and solutions in the current environment<\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">Debt securities, collateral, refinancing, non-performing loans, prolongation, debt\/equity swaps, mezzanine financing<\/mark><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<div data-component=\"ContactSection\" data-props=\"{\n    &quot;post&quot;: [\n        964\n    ],\n    &quot;image&quot;: {\n        &quot;id&quot;: 48887,\n        &quot;title&quot;: &quot;gsk-stockmann-AP_Moessner&quot;,\n        &quot;filename&quot;: &quot;gsk-stockmann-AP_Moessner.png&quot;,\n        &quot;url&quot;: &quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/gsk-stockmann-AP_Moessner.png&quot;,\n        &quot;link&quot;: &quot;https:\\\/\\\/gsk.de\\\/de\\\/real-estate-restructuring\\\/bestandshalter-in-der-mieterinsolvenz\\\/gsk-stockmann-ap_moessner\\\/&quot;,\n        &quot;alt&quot;: &quot;Dr Philipp M\\u00f6ssner&quot;,\n        &quot;author&quot;: &quot;42&quot;,\n        &quot;description&quot;: &quot;&quot;,\n        &quot;caption&quot;: &quot;&quot;,\n        &quot;name&quot;: &quot;gsk-stockmann-ap_moessner&quot;,\n        &quot;status&quot;: &quot;inherit&quot;,\n        &quot;uploadedTo&quot;: 47764,\n        &quot;date&quot;: &quot;2024-02-26T15:33:27.000Z&quot;,\n        &quot;modified&quot;: &quot;2024-02-26T15:43:52.000Z&quot;,\n        &quot;menuOrder&quot;: 0,\n        &quot;mime&quot;: &quot;image\\\/png&quot;,\n        &quot;type&quot;: &quot;image&quot;,\n        &quot;subtype&quot;: &quot;png&quot;,\n        &quot;icon&quot;: &quot;https:\\\/\\\/gsk.de\\\/wp-includes\\\/images\\\/media\\\/default.png&quot;,\n        &quot;dateFormatted&quot;: &quot;26. 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class=\\&quot;has-inline-color has-primary-color\\&quot;&gt;Let me guide you on your journey.&lt;\\\/mark&gt;&quot;,\n    &quot;imageDesc&quot;: &quot;Dr Philipp M\\u00f6ssner&quot;,\n    &quot;color&quot;: &quot;var(--light)&quot;,\n    &quot;align&quot;: &quot;full&quot;,\n    &quot;posttype&quot;: &quot;rechtsanwaelte&quot;,\n    &quot;isEditor&quot;: false,\n    &quot;postSecond&quot;: [],\n    &quot;text&quot;: &quot;&quot;,\n    &quot;content&quot;: &quot;&quot;,\n    &quot;contactBar&quot;: true\n}\"><\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div\n\tdata-component=\"RecentEventsBlock\"\n\tdata-props=\"{\n    &quot;title&quot;: &quot;Aktuelle Veranstaltungen&quot;,\n    &quot;tag&quot;: 143,\n    &quot;linkText&quot;: &quot;&lt;a href=\\&quot;https:\\\/\\\/gsk.de\\\/de\\\/events\\\/\\&quot; target=\\&quot;_blank\\&quot; rel=\\&quot;noreferrer noopener\\&quot;&gt;Mehr Veranstaltungen&lt;\\\/a&gt;&quot;,\n    &quot;align&quot;: &quot;wide&quot;,\n    &quot;postCount&quot;: 3,\n    &quot;isEditor&quot;: false,\n    &quot;link&quot;: {\n        &quot;url&quot;: &quot;&quot;,\n        &quot;linkTarget&quot;: &quot;&quot;,\n        &quot;rel&quot;: &quot;&quot;\n    },\n    &quot;styleCard&quot;: &quot;with_image&quot;,\n    &quot;initialData&quot;: []\n}\"\n\tdata-prop-children=\"\"\n><\/div>\n\n\n<div\n\tdata-component=\"RecentNewsBlock\"\n\tdata-props=\"{\n    &quot;title&quot;: &quot;Latest news&quot;,\n    &quot;linkText&quot;: &quot;&lt;a href=\\&quot;https:\\\/\\\/gsk.de\\\/en\\\/press\\\/\\&quot;&gt;more news&lt;\\\/a&gt;&quot;,\n    &quot;tag&quot;: 782,\n    &quot;align&quot;: &quot;wide&quot;,\n    &quot;postCount&quot;: 3,\n    &quot;link&quot;: {\n        &quot;url&quot;: &quot;&quot;,\n        &quot;linkTarget&quot;: &quot;&quot;,\n        &quot;rel&quot;: &quot;&quot;\n    },\n    &quot;initialData&quot;: [\n        {\n            &quot;category&quot;: &quot;Deal News&quot;,\n            &quot;date&quot;: &quot;08.10.2025&quot;,\n            &quot;excerpt&quot;: &quot;GSK\\u00a0Stockmann advised GIEAG Immobilien AG on the financing for the construction of 218 new apartments in Karlsruhe.&quot;,\n            &quot;featured_img_src&quot;: &quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/Siebke_Mechtild-Maria_1985x1280px-1024x660.jpg&quot;,\n            &quot;id&quot;: 55340,\n            &quot;link&quot;: &quot;https:\\\/\\\/gsk.de\\\/en\\\/deal-gieag-siebke-en\\\/&quot;,\n            &quot;title&quot;: &quot;GSK\\u00a0Stockmann advises GIEAG on financing of residential construction project in Karlsruhe&quot;\n        },\n        {\n            &quot;category&quot;: &quot;Deal News&quot;,\n            &quot;date&quot;: &quot;24.06.2025&quot;,\n            &quot;excerpt&quot;: &quot;GSK&amp;nbsp;Stockmann provided comprehensive advice to venture capital firm Target Global on a new financing round in McMakler and on negotiations with the other shareholders. Target Global led the financing round together with Kreos Capital, a growth and venture debt provider belonging to BlackRock. A team led by Berlin-based partner Dr Katy Ritzmann advised the investor in particular on the preparation and negotiation of the equity and debt financing documentation. The team helped Target Global navigate the legal structure of the transaction, which required close coordination with the company and Kreos Capital, which led the financing round together with Target Global. This comprehensive coordination and negotiation ensured that the financing round was successfully concluded with the unanimous support of McMakler\\u2019s shareholders and without debt or capital cuts. In addition, GSK&amp;nbsp;Stockmann advised Target Global on the negotiations regarding the legal integration of further strategic steps for McMakler, with the aim of further strengthening the company\\u2019s profitability against the backdrop of the ongoing challenging conditions in the real estate sector. McMakler, a leading hybrid broker for residential real estate in Germany and Austria, secured financing in the double-digit-million range as part of the round. The company plans to use the fresh capital primarily\\u2026&quot;,\n            &quot;featured_img_src&quot;: &quot;https:\\\/\\\/gsk.de\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/Ritzmann_Katy_1985x1280px1-1024x660.jpg&quot;,\n            &quot;id&quot;: 54189,\n            &quot;link&quot;: &quot;https:\\\/\\\/gsk.de\\\/en\\\/deal-target-global-mcmakler\\\/&quot;,\n            &quot;title&quot;: &quot;GSK\\u00a0Stockmann advises Target Global on new financing round for Berlin-based real estate start-up McMakler&quot;\n        },\n        {\n            &quot;category&quot;: &quot;Deal News&quot;,\n            &quot;date&quot;: &quot;09.12.2024&quot;,\n            &quot;excerpt&quot;: &quot;GSK&amp;nbsp;Stockmann supported the Swedish Catella Group with the strategic merger of two of its German subsidiaries, Catella Residential Investment Management (CRIM) in Berlin and Catella Real Estate AG (CREAG) in Munich. As of 1 January 2025, the new company Catella Investment Management (CIM) will combine both subsidiaries\\u2019 expertise into a single investment platform, further enhancing the group\\u2019s efficiency. The aim of the merger to form Catella Investment Management is to create a stronger platform for the management of fund investments and provide an even better service for investors and partners. The platform will offer clients access to a multi-sector investment and asset manager with assets under management totalling approximately ten billion euros spread across more than 25 different funds and with properties in 15 different countries. CIM provides advice on portfolio management, acquisitions, disposals and asset management and will have offices in Berlin, Munich and Vienna. The Catella Group is a leading specialist in property investments and fund management, with operations in 15 countries. A GSK&amp;nbsp;Stockmann team led by Munich partner Oliver Gl\\u00fcck provided Catella with comprehensive advice on regulatory and corporate law issues in connection with the restructuring together with EY. 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Especially in difficult times, enforcing Luxembourg-based collateral, restructuring financial liabilities, adjusting the&#8230;<\/p>\n","protected":false},"author":42,"featured_media":48934,"parent":47744,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"megatrends":[981],"class_list":["post-49221","page","type-page","status-publish","has-post-thumbnail","hentry","megatrends-restructuring"],"acf":{"standard_text":true,"custom_text":false,"newslettertitle":"","newsletter_subtitle":"","footertext":"","white_header":false,"contact_bar":true,"contact_bar_message":"Dear Sir,\r\n\r\nI am contacting you to request more information. 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