Kategoria: News

We are delighted to announce that as of 1 July 2023, act legal Germany („ACT”) and SKYE Partners („SKYE”) have merged.

This merger creates a market-leading 360-degree point of contact practice for private equity funds and their portfolio companies on the German legal market. 

SKYE has an outstanding reputation in the private equity industry for its efficient support of small and mid-cap private equity transactions. In particular, this applies to sophisticated primary transactions, on both the buy and the sell side, the implementation of buy and build strategies, and other transaction-relevant issues.

ACT has been a trusted partner for the vast majority of the leading private equity funds for several years focusing on distressed and mid-cap transactions, special situations, and restructurings as well as in the high-performance support of PE portfolio companies in their day-to-day business.

The five-member SKYE team, headed by Founding Partner Christoph Breithaupt, will further expand the segment of leveraged buyout transactions at ACT. In addition to Christoph Breithaupt, who will hold the position of Equity Partner at ACT, Julia Rosigkeit, who was Counsel at SKYE, will also become a Partner.

ACT’s partner circle includes many of the market’s best-known advisors, including, among others: Dr. Sven Tischendorf (distressed M&A, Special Situations, and Restructuring), Dr. Fabian Brocke and Dr. Nina Honstetter (both M&A, Private Equity, and Corporate), Dr. Matthias Müller (distressed M&A, Private Equity, and Corporate), Dr. Tara Kamiyar-Müller (Real Estate transactions), Dr. Alexander Höpfner (StaRUG and Self-administration Proceedings), Dr. Stephan Schwilden and Dr. Friederike Jawad (both Labor Restructuring), Dr. Michelle Wiesner-Lameth (Compliance), Marcus Columbu (Finance), and Dr. Marco Loesche (a notary with extensive transaction expertise).

Together, the combination of ACT and SKYE will support the private equity industry in Germany with some 40 lawyers and business professionals. Additionally, ACT and SKYE will be represented internationally with 11 offices across Europe, and more than 100 experienced private equity lawyers present in all major European economic centers.

ACT and SKYE have already worked together for many years on a great number of successful transactions and look forward to bringing their collaboration to the next level through this exciting merger.

Very welcome SKYE Partners!

Our first serve to the first ACT tennis event was a terrific success. Everything was perfect, our guests, the food, the location, the fair play and the atmosphere. An unforgettable afternoon and evening that we will remember for a long time and guaranteed … to be continued…

Corporate Investigations: Understanding the Concept

Corporate investigations, though a relatively new concept in Romania, are increasingly becoming common among large companies operating in the country. The purpose of corporate investigations is to enable management to identify any irregularities that have occurred within the company or in relation to the company’s business. These investigations are different from formal investigations conducted by national or EU authorities, as the two types of investigations have different functions and purposes.

Reasons for Conducting Corporate Investigations

Corporate investigations are usually conducted as a result of management’s need to understand and react appropriately to situations such as suspected breaches of the law (corruption, money laundering, fraud, among others), or issues related to certain official procedures carried out by the authorities. In some cases, the lack of an investigation may itself constitute an irregularity or may worsen the liability of the legal person or management, especially where the law obliges legal entities to conduct such investigations.

The Specifics of Corporate Investigations in Romania

In Romania, there are many legal and technical difficulties specific to the process of understanding what actually happened in relation to an irregularity, in order to find out who is responsible, how the deeds were committed, what the consequences are, and what the legal path to follow so as to limit the consequences and recover any damages. Each jurisdiction has specific limitations and rules that guide corporate investigations. In Romania, for instance, there are rules and limitations concerning evidence and how it can be obtained within corporate investigations. These limitations include obtaining and handling electronic records or documents, gaining access to employees’ laptops and office emails, or interviewing employees. Expert legal assistance is, therefore, needed to avoid interference with active legal obligations that could affect the viability of the investigation and whose violation may entail negative consequences.

Choosing the Investigation Team

The success of a corporate investigation depends on putting together the right team. Corporate investigations usually require a joint effort of several specialists with knowledge in different fields, depending on the industry in which the targeted company operates. The appropriate internal and external team needs to be set up, which may include a legal department and/or lawyers, IT and/or HR staff, forensic specialists, and people who have the necessary industry and organizational knowledge to facilitate an understanding of how fraud was committed within the company. The involvement of Legal Counsel in internal investigations is crucial, at least for compliance with the legal requirements of the investigation. Additionally, choosing a lawyer for leading or supervising an investigation can also be beneficial from the perspective of confidentiality that the law offers to such an investigation, since in Romania and at European level, professional secrecy between lawyer and client is protected by law.

Key Takeaways

• Corporate investigations are necessary and particularly useful tools that allow management to react appropriately to suspected breaches of the law or related issues.
• Conducting corporate investigations require a joint effort of several specialists with knowledge in different fields, and the right team must be put together to ensure the effectiveness of the investigation.
• Expert legal assistance is also required to avoid interference with active legal obligations that could affect the viability of the investigation and whose violation may entail negative consequences.

Personal note of the author: Benefits of being a Criminal Defense Lawyer and the first practicing lawyer to earn the Certified Fraud Examiner credential.

As someone who is both a criminal defense lawyer and a Certified Fraud Examiner, I have been able to consolidate the knowledge I have gained over the years in criminal law with a specialization in White-Collar Crimes, particularly in preventing, identifying, and understanding economic crimes. At the same time, my CFE accreditation has also contributed to diversifying my caseload by increasing my involvement in cases of corporate criminal liability.

Having a CFE accreditation confirms my expertise in the field of corporate investigations, from the beginning of an investigation to its conclusion. This certification complements my skills as a criminal lawyer who helps multinational companies investigate complex internal fraud cases. I also work with multidisciplinary teams of lawyers at act Botezatu Estrade Partners to manage corporate investigations that cover several practice areas.

While we engage in various criminal prevention activities, such as reviewing AML/anti-fraud/anti-corruption compliance policies and conducting necessary training with employees and management, corporate investigations play a critical role. These investigations have a deterrent effect and even contribute to criminal prevention by creating certainty within companies that any suspicions of irregularities will be investigated, and those found responsible will be reported to the judicial authorities and sanctioned accordingly.

Corporate investigations conducted by a specialized lawyer with experience in criminal defense and fraud examination can be an invaluable tool for companies to detect and prevent financial crimes.

The Platform Group – the pioneer in the field of online platforms (including DocGreen, Stylefy, Taschen24 etc.) becomes a new major shareholder in fashionette AG with the acquisition of 2.4 million shares. The leading online platform for high-quality fashion accessories and perfume & cosmetics in the premium and luxury segment has a turnover of EUR 165 million and continues to grow steadily. The Platform Group, whose origins date back to 1882, still belongs to the family office of Benner Holding and has meanwhile connected 4,000 partners in 16 different industries, is thus consistently expanding its portfolio.

Advisors to The Platform Group on Finance: act AC Tischendorf Rechtsanwälte, Marcus Columbu (lead), Swantje Columbu

Dr. Sven Tischendorf, MBA and Dr. Alexander Höpfner were appointed to the management board on 13 December 2022 and, together with the two other managing directors Jens Keller and Jens Peter Klatt, have since ensured the successful and unrestricted continuation of both traditional companies.

Please click here for more details (article in German language only).

The Platform Group – the pioneer in the field of online platforms (a.o. DocGreen, Stylefy, Taschen24 etc.) has acquired the mobility platform Cluno Deutschland from the listed Cazoo GROUP, UK, with its shareholding ViveLaCar. With the acquisition of several thousand vehicles, subscribers, 50 employees as well as the offices in Munich, ViveLaCar is now the largest car subscription platform in the DACH region and The Platform Group one of the largest fleet owners in Germany, behind Sixt, Hertz, etc.

With the acquisition of several thousand vehicles, subscribers, 50 employees as well as the offices in Munich, ViveLaCar is now the largest car subscription platform in the DACH region and The Platform Group one of the largest fleet owners in Germany, behind Sixt, Hertz, etc.

Advisors to The Platform Group: act AC Tischendorf Rechtsanwälte, Marcus Columbu (Project Management, Finance), Dr. Fabian Brocke, LL.M. (M&A)
Advisors ViveLaCar GmbH: Dr. Michael Inhester (M&A), Poellath, München
Advisors Cazoo Group: Anthony Cross, Luise Meyer-Lindemann (both M&A), Eversheds Sutherland, Munich