Hogan Lovells advises Federal Republic of Germany - Finance Agency GmbH on insolvency plan proceedings of GALERIA Karstadt Kaufhof GmbH

Press releases | 11 May 2023

Jointly led by Dr Tim Oliver Brandi (Partner, Frankfurt), Christine Borries (Counsel, Munich) and Dr Markus Huber (Senior Associate, Munich), global law firm Hogan Lovells advised the Federal Republic of Germany - Finance Agency GmbH (Finance Agency) and the Economic Stabilization Fund (WSF) in the context of the insolvency plan proceedings over the assets of GALERIA Karstadt Kaufhof GmbH and with regard to the exercise of the WSF’s rights in its capacity as creditor with respect to the stabilization measures granted by it to GALERIA Karstadt Kaufhof GmbH in 2021 and 2022.

The insolvency plan adopted by the creditors' meeting on March 27, 2023 became legally binding upon expiration of the two-week appeal period against the court confirmation of the insolvency plan on April 26, 2023.

Hogan Lovells had already advised the WSF in 2021 and 2022 on the granting of stabilization measures in the form of a subordinated loan and a silent participation to GALERIA Karstadt Kaufhof GmbH.

Hogan Lovells Team for Federal Republic of Germany - Finance Agency GmbH

Frankfurt

Dr Tim Oliver Brandi (Partner), Dr Mike Karl Schmidt (Associate) (both Corporate);

Bianca Engelmann (Partner), Dr Antonia Wolf (Senior Associate), Christian Knoth (Associate) (all Banking);

Munich

Dr Heiko Tschauner (Partner), Christine Borries (Counsel), Dr Maximilian Baier (Counsel), Dr Markus Huber (Senior Associate) (all Restructuring & Insolvency);

Hamburg

Dr Marc Schweda (Partner), Nikita Ivlev (Senior Associate) (both State Aid);

Christian Stoll (Partner), Bastian Englisch (Senior Associate) (both Trademarks).