Dr Felix Melzer, Dr Sven Tischendorf, MBA and Dr Alexander Höpfner are responsible for the self-administration of Rhein-Plast GmbH, Bad Dürkheim

Felix Melzer, Sven Tischendorf and Alexander Höpfner have been responsible for the self-administration of the long-established manufacturer of special films, among other things, since 18 June 2021.

In the course of the preparation and implementation of the self-administration proceedings pursuant to § 270 ff, 270b InsO (“protective shield proceedings”), Dr. Sven Tischendorf, MBA, Dr. Alexander Höpfner and Dr. Felix Melzer strengthen the management of Rhein-Plast GmbH as general representatives both operationally and as experts in insolvency law.

The unfortunate combination of the negative effects of the COVID-19 pandemic and the impact of the raw materials crisis on the strongly international supplier relationships had unexpectedly placed a heavy burden on the business of Rhein-Plast GmbH. Rhein-Plast GmbH has good substance and at the same time the order situation is currently increasing significantly. With the help of the protective umbrella, the operative business can be continued in an orderly manner in every respect and can also be developed sustainably.

Rhein-Plast GmbH is an owner-managed family business based in Ungstein, a district of Bad Dürkheim. It was founded in 1959 in Ludwigshafen-Ruchheim and has been producing at the Bad Dürkheim-Ungstein site since 1969.

Rhein-Plast GmbH produces high quality films (PE films) and packaging materials made of recycled plastic from polyethylene granulates. The films produced are processed into bags, sleeves, pouches, rolls and sacks of various sizes and designs for a wide range of packaging applications. Rhein-Plast GmbH’s customers are primarily companies in the pharmaceutical, medical and bio-tech industries, the chemical industry, the food industry, suppliers to the automotive industry, the clothing industry, furniture manufacturers and waste disposal companies. The company focuses on the production of primary packaging materials for the pharmaceutical industry and other applications with high hygiene requirements.

With an annual turnover of approximately EUR 12 million, Rhein-Plast GmbH employs 107 people.

With the well-known self-administration proceedings of Baden-Board, Picard, JMT, Hallhuber and Vossloh-Schwabe already successfully completed in 2020/2021 and the self-administration proceedings of Saurer Spinning Solutions currently underway, act AC Tischendorf’s insolvency and restructuring practice, led by partners Dr. Sven Tischendorf, MBA, Dr. Alexander Höpfner and Dr. Felix Melzer, is one of the market leaders in Germany.

Rhein-Plast self-administration: act AC Tischendorf Rechtsanwälte, Frankfurt: Dr. Felix Melzer (general representative), Dr. Sven Tischendorf, MBA (general representative), Dr. Alexander Höpfner (general representative)

Rhein-Plast insolvency administrator (Sachwalter): Reimer Rechtsanwälte, Mannheim: Thomas Rittmeister

270b certificate/self-administration planning: Turnaround Management Partners, Düsseldorf/Frankfurt a. M.: Nick Piepenburg, Marc Schneider

act legal Poland advises Adventum on refinancing of an office building in Poznań

Adventum, an investment fund operating internationally, has successfully closed the refinancing of Poznań Financial Centre. The new financing has been secured by Berlin Hyp AG.

act legal Poland advised Adventum throughout the whole refinancing process. The services provided by the law firm included drafting transaction-related documents, negotiation support and transaction-related advice.

The project was led by Marta Kosiedowska (attorney-at-law, Partner) and Marek Wojnar (attorney-at-law and Managing Partner, co-heading the real estate practice of the law firm). They were supported by Mariusz Grochowski (attorney-at-law, Senior Associate).

We are pleased to advise Adventum on another project regarding financing of its real estate operations in Poland – says Marta Kosiedowska.

Adventum is a group of boutique investment fund management companies focused on Central European real estate investments.

Berlin Hyp AG was represented in the process by Deloitte Legal.

act legal Czech Republic advised Sokolov Chemical Company Synthomer a.s.

act legal Czech Republic (act Řanda Havel Legal) provided legal advice to the Sokolov chemical company, which is part of the global chemical group Synthomer, in connection with the planned transition to a new source, which should be more environmentally friendly.

Sokolov chemical company Synthomer a.s. will build a new energy source for almost 140 million crowns. The original coal source will replace the gas source, which is to contribute to improving the environment and reducing coal mining. On 15 June, the representatives of Synthomer, the Senate of the Czech Republic, the Karlovy Vary Region, the municipal authority of Sokolov and the supplier company took part in the ceremonial signing of the contract with the supplier CHP Trading on the construction of a new source.

This is one of the largest investment events of the company in its history. Thanks to the new source, CO2 emissions will be reduced by a third, emissions of other pollutants and water abstraction from the Ohře River will significantly fall. This is another major contribution of Synthomer to improving the environment in Sokolov. The original coal source was built in the Sokolov chemical plant in 1917, when the plant itself was established. The new source of steam production in Synthomer will include three high-pressure steam boilers that will burn natural gas.

act legal Germany responsible for self-administration of Saurer Spinning Solutions GmbH & Co. KG

Sven Tischendorf, in the function of CRO and Alexander Höpfner, functioning as CIO, have been responsible for the self-administration and restructuring of leading global textile machinery manufacturer Saurer Spinning Solutions GmbH & Co. KG since June 16, 2021.

In the course of preparations and the implementation of self-administration proceedings according to § 270 ff, 270 d InsO („protective shield proceedings“), Dr. Sven Tischendorf, MBA (CRO), as well as Dr. Alexander Höpfner (CIO) reinforce the management of Saurer Spinning Solutions GmbH & Co. KG as general representatives, both operationally and as insolvency law experts.

The COVID-19 pandemic and it’s negative effects, in combination with the impact of tariff and trade wars on strongly international supply relationships, had unexpectedly weighed heavily on the business of Saurer Spinning Solutions GmbH & Co. KG. Saurer Spinning Solutions GmbH & Co. KG disposes of considerable substance while maintaining a currently very established order situation. Thanks to the protective shield, business operations can in all respect be continued in an orderly manner, as well as further developed in a sustainable manner.

Saurer Spinning Solutions GmbH & Co. KG

Saurer Spinning Solutions GmbH & Co. KG is a traditional German company founded in 1904. Since July 2013, it has been part of the global technology group Saurer, which is listed on the Shanghai Stock Exchange. With annual sales of approximately EUR 450 million, Saurer Spinning Solutions GmbH & Co. KG employs around 1,200 people at a total of three locations in Germany. Along the various stages of the textile value chain, Saurer Spinning Solutions plays a leading key role in the global market amongst renowned spinning technology brands such as Schlafhorst and Zinser (high-tech components and systems for textile machines) as producers of machines and systems. With the market-renowned self-administration proceedings of Baden-Board, Picard, JMT, Hallhuber and Vossloh-Schwabe, which have already been successfully completed in 2020, the practice led by partners Dr. Sven Tischendorf, MBA and Dr. Alexander Höpfner, as part of act AC Tischendorf, is one of the market leaders in Germany in the area of insolvency and restructuring.

Self-Administration Saurer: act AC Tischendorf Rechtsanwälte, Frankfurt: Dr. Sven Tischendorf, MBA (lead, chief-representative, CRO), Dr. Alexander Höpfner (lead, chief-representative, CIO), Dr. Felix Melzer (handling of proceedings), Dr. Fabian Laugwitz, MBA, LL.M (Commercial)

Update on international data protection: new standard contractual clauses for international data transfers

Almost a year ago, the ECJ declared the EU-US Privacy Shield as invalid (Schrems II) and also raised some questions regarding the EU Standard Contractual Clauses (SCC), the most important instrument for international data transfers. The EU Commission has now adopted new SCCs, with which it has adapted the previous SSCs to the General Data Protection Regulation (GDPR) and also taken the ECJ’s specification into consideration. However, it quickly becomes clear that the EU Commission has not created a carte blanche for data exchange with the new SCCs. Companies that transfer personal data to third countries such as the USA on the basis of SCC now have some work to do.

To read the full newsletter, please click here.

WMWP placed in the IFLR1000 “Banking and Finance” ranking 2020/2021

Our successful development of the banking and finance practice in recent years has now also led to international recognition. The placement in the current IFLR1000 Ranking 2020/2021.

This success is due to our satisfied clients and a strong team around Mag. Martin MutzDr. Roman Hager and Mag. Franz Asseg.

Click here for the IFLR1000 Ranking.

Dr. Sven Tischendorf, MBA, Dr. Alexander Höpfner and Dr. Felix Melzer ensure profitability and refinancing of the international Vossloh-Schwabe Group within the scope of self-administration proceedings



The Vossloh-Schwabe Group enjoys a tradition of more than 100 years as one of the world’s leading manufacturers and distributors of LED systems, lighting control systems and lighting technology components with subsidiaries in Europe, Asia, Africa and Oceania. Until the end of 2019, the Vossloh-Schwabe Group was part of the Panasonic Group and was sold to the private equity investor Fidelium Partners at the beginning of 2020. With a total of more than 1,000 employees, the Vossloh-Schwabe Group generated sales of EUR 160 million in the fiscal year of 2019.

After the creditors have unanimously approved the insolvency plans submitted by the self-administration on May 03, 2021, the self-administration proceedings (protective shield proceedings), pending since May 2020, will be able to be lifted in the near future. In addition to optimizing the entire production and sales organization, the reorganization carried out in the course of self-administration proceedings likewise comprised of partial plant closures and relocations of operating units. By these measures, the long-term profitability of the entire Vossloh-Schwabe Group is ensured and the permanent existence of jobs is safeguarded.

Fidelium Partners continues to support the Vossloh-Schwabe Group as a shareholder and, as part of the capital measure implemented in the insolvency proceedings, has extensively re-funded the Vossloh-Schwabe Group. Thus, the Vossloh-Schwabe Group is not only fully financed but has also regained its full operational capacity and competitiveness.

After the successful completion of self-administration proceedings of Baden-Board, Picard, JMT and Hallhuber in the past six months alone, act legal Germany’s insolvency and restructuring practice can record a further restructuring success with the Vossloh-Schwabe Group within one of Germany’s market-renowned proceedings.

Self-Administration, Consultancy Vossloh-Schwabe Group: act AC Tischendorf: Dr. Sven Tischendorf, MBA (lead, chief representative, CRO), Dr. Alexander Höpfner (lead, chief representative, CIO), Dr. Felix Melzer (process handling), Dr. Fabian Laugwitz, MBA, LL.M. (supplier management), Dr. Stephan Schwilden, MBA (Employment law), Dr. Nina Honstetter (Employment law)

Flagship mandate: TECHNIPLAS, together with act AC Tischendorf, takes over the business operations and key assets of the publicly listed Nanogate Group out of insolvency



By notarized purchase agreement dated 7 May 2021, TECHNIPLAS is taking over the material assets of Nanogate SE and its insolvent subsidiaries Nanogate Management Services GmbH, Nanogate NRW GmbH, Nanogate PD Systems GmbH and Nanogate Neunkirchen GmbH by way of so-called “asset deals” (transferring restructuring), as well as the equity investments in non-insolvent subsidiaries held by Nanogate SE which are attributable to the core business (including Nanogate heT Engineering GmbH, Nanogate Netherlands B.V., and Nanogate Netherlands B.V.). Nanogate North America LLC, Nanogate heT Engineering GmbH, Nanogate Netherlands B.V., Nanogate Schwäbisch Gmünd GmbH, Nanogate Slovakia s.r.o.) by way of share deals.

The closing of the transaction is still subject to various conditions.

Nanogate, headquartered in Göttelborn, Germany, is a leading technology group that produces design-oriented, multifunctional components and surfaces primarily for the automotive and industrial sectors. The company has an extensive technology portfolio and supplies major international customers worldwide (e.g. Airbus, BMW, Daimler, Ford, GM and the VW Group). The 22 group companies are active at ten locations in seven countries; Nanogate SE shares are traded in the scale segment of Deutsche Börse Frankfurt. In 2019, Nanogate generated sales of approximately EUR 243 million with around 1,800 employees. On 22 June 2020, the management filed for insolvency in self-administration pursuant to Section 270b InsO (protective shield proceedings) for Nanogate SE as well as five German subsidiaries. All other companies in the group continued to operate as solvent entities.

TECHNIPLAS is a global supplier of advanced plastic components, primarily for the automotive sector, but also for industrial, consumer goods, medical and other markets. The group was founded in 1941 and today generates sales of around USD 500 million at ten locations. The sustainable growth course is supported by the shareholders H.I.G Capital, Amzak Capital Management and The Jordan Company.

Background

act legal Germany is trusted advisor to many well-known private equity funds and their portfolio companies, especially in the areas of distressed M&A and restructuring. There is a long-standing relationship with H.I.G. Capital. act legal Germany has already advised on several transactions for TECHNIPLAS in the past. In addition to the transaction management in Germany, act legal Germany’s office was also responsible for the overall international management of the legal aspects of the transaction, for which it was able to draw on the support of numerous other act legal offices.

Legal advisors TECHNIPLAS

act legal Germany – AC Tischendorf Rechtsanwälte (Lead management, transaction advice and documentation): Dr. Sven Tischendorf, MBA (M&A, insolvency law, labor law), Dr. Matthias Müller, MBA (M&A, Corporate, insolvency law), Dr. Fabian Brocke, LLM. (Transaction documentation, management due diligence worldwide), Dr. Stephan Schwilden (labor law, antitrust law), Dr. Florian Wäßle (IP / IT), Marcus Columbu (Finance), Dr. Fabian Laugwitz LL.M., MBA (Real Estate), Sarah Landsberg (Corporate, M&A)

act legal Austria – WMWP (Austrian transaction aspects): Dr. Martin Wiedenbauer, Mag. Franz Asseg

act legal Slovakia – act MPH (Slovak transaction aspects): Mgr. Jana Alušíková, Mgr. Zuzana Jahodníková, LL.M., Mgr. et Mgr. Katarína Kasalová

act legal The Netherlands – act FORT (Dutch transaction aspects): Derk van Geel, Terry Steffens, Elias van Kampen

LAWorld – Nexsen Pruet (US transaction aspects): Todd Davidson, Mark W. Bakker

LAWorld – Nordia (Finnish transaction aspects): Matti Kari, Annamarie Männikkö

LAWorld – Özkan (Turkish transaction aspects): Zeynep Özkan Özeren

Flick Gocke Schaumburg (Taxes and tax structure): Christian Schatz, Corina Hackbarth, Anne-Catharine Lorek, LL.M.