Part 26A restructuring plan of the Fürst Group has been sanctioned

A team led by Heuking partner Dr Stephan Degen has advised the German companies of the Fürst Group on all aspects of German restructuring law relevant to the successful completion of the English Part 26A restructuring plan submitted by the holding of Fürst Group (Project Lietzenburger Strasse Holdco Sarl).

The Fürst Group is developing one of the largest real estate projects in Europe in a premium location on Kurfürstendamm in Berlin, which had fallen into crisis due to general market developments in Europe, characterized in particular by rising borrowing costs and lower property valuations.

The Part 26A restructuring plan was sanctioned by the High Court of Justice in London on 7 March 2024, it restructures debt instruments of Fürst Group with a volume of more than EUR 1 billion.

In advising the German companies of the Fürst Group, HEUKING worked closely with Ian Benjamin (Partner) and Fiona Siddall (Associate) from Stephenson Harwood (London), who advised on the relevant aspects of English law, and with Thomas K.W. Schrell (Partner) and Anja Harms (Partner) from ALENIOS (Frankfurt/Main) regarding finance law.

Advisors to the German companies of the Fürst Group
HEUKING:
Dr. Stephan Degen, Maître en Droit, Munich (Partner, Lead),
Prof. Dr. Georg Streit, Munich (Partner),
Dr Walter Eberl, Munich (Partner),
Phil Rieger, Munich (Associate),
Yannik Greimann (Senior Associate)