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Achern-headquartered Schultze & Braun dealt recently with a challenging insolvency case for Saar-Gummi Group, a leading maker of sealing systems for cars
Dr. Eberhard Braun
Involving 25 companies worldwide, the multimillion-pound case was “pretty tough”, says partner Annerose Tashiro. The group was sold at the end of May to Chinese investor CQLT.
The German insolvency firm focuses on large international restructuring cases and has also been busy on several cross-border avoidance matters, where it has represented administrators and trustees. On the creditor side, Schultze represents many German banks and credit insurers when customers are struggling, meaning security portfolios have to be established and collateral has to be managed.
Tashiro says the firm is becoming increasingly active in the area of forensic accounting and highlights the firm’s knowledge of this field. The expertise of the firm is what makes it unique, she says.
“We have long and deep expertise in what relates to business or financial crises,” says Tashiro. “From financial restructuring work to the winding-up of an entity, we have expertise in providing advice, with more than a hundred specialists.”
Partnerships with other firms is “not our cup of tea”, adds Tashiro. “We like to stay independent.”
Schultze’s most recent expansion domestically was the opening of a Hamburg office in January. The firm launched its London practice in 2007 and a Paris branch last year.
It is also considering opening in New York.
“This will hopefully be sooner rather than later,” says Tashiro, “but there are a lot of things to consider. In Europe it’s easy to set up new offices, but America’s different.” Tashiro says the firm stresses to clients that it is important to get to grips with legal issues early on.
“There are a lot of tools that can be used to rescue businesses, but these must be combined with good professionals and a decent amount of time,” she concludes.
Managing partner: Eberhard Braun
Turnover: €46m (£40.5m)
Number of partners: 33
Number of lawyers: 91
Number of fee-earners: 99
Number of offices: 39
Locations: Achern, Berlin, Essen, Frankfurt, Hanover, Munich, Paris, Strasbourg, London and others
Main practice areas: Restructuring, tax, insolvency
Key clients: Beluga Shipping Group, Merckle Group, SaarGummi Group