Many years of national and international experience in all stages of financial distress or insolvency; global network of experts

 

Ursula Schlegel's professional focus is on providing support in crisis prevention, in overcoming financial or operational distress through restructuring and in handling formal insolvency proceedings.

Ursula Schlegel worked as a German lawyer in London in her early professional years and qualified as a solicitor there in 1998. Since then, her core competence has been advising German and foreign clients in national and cross-border matters. Ursula Schlegel has acted as an expert witness and has appeared before US Federal courts.

Multinational situations regularly require advice that goes beyond German and English law, requiring additional business and tax law know-how. In the current restructuring environment realistic valuations of companies and individual assets are key. Where such additional advice is required, Ursula Schlegel supports clients at their request with her national and global network of renowned experts, which has grown over the years through successful and trusting cooperation.

Ursula Schlegel's industry focus over the past 20 years has been on retail, real estate, automotive, mechanical engineering, fashion and luxury goods.

Assisting companies, office-holders, investors and stakeholders: See the following.

Assisting companies

Times of financial distress and crises are challenges that can be turned into opportunities - by tailoring the rescue instruments available under German and European law as well as other foreign legal systems, both within and outside of formal insolvency proceedings.

Many of the currently available restructuring instruments are completely new and innovative. In the EU they originate from the Directive on Restructuring and Insolvency, in the German implementation of which Ursula Schlegel was involved as an expert advisor to government in the legislative process.

In German law, since 01.01.2021, a discreet, court-monitored “rescue moderation” (Sanierungsmoderation) offers avoidance protection in the event of a successful settlement; the new restructuring plan can be used for financial restructuring and enforced against the will of opposing creditors through cram-down. The Netherlands, also since 01.01.2021, even provides options for operational restructuring outside of insolvency proceedings. The tried and tested English Scheme of Arrangement was optimized in 2020 to become a "super-scheme"; practitioners are already exploring the possibilities of its continued recognition in Germany despite Brexit.

Ursula Schlegel supports companies in selecting, preparing and successfully implementing the restructuring instrument suitable for their individual situation. This is done in cooperation with the company's shareholders and management, advisors and, if necessary, with the involvement of the court.

 

Assisting office-holders

As part of German office holders’ teams Ursula Schlegel was involved in handling complex national and international insolvency proceedings and was responsible in particular for the conducting of M&A processes and those issues affecting foreign subsidiaries. Today, she supports national as well as international office holders in the efficient and successful administration of proceedings, in particular with the coordination of M&A processes or the stabilization or administration of foreign group companies in group insolvencies.

 

Assisting investors

The following can be lucrative for investors:

  • the acquisition of distressed assets from financial distress and insolvency situations;

  • the provision of "fresh money" during:

    • times of financial distress;

    • in the newly introduced plan with cram-down option for the facilitation of a Restrukturierungsplan; or

    • an insolvency plan in formal insolvency proceedings.

At the same time, there are hidden pitfalls, especially since distressed transactions can be very time critical. Ursula Schlegel advises investors on all aspects of such transactions and provides support in acquisition processes, for example in the preparation of investment committee presentations.

 

Ursula Schlegel advises stakeholders such as lenders and credit insurers as well as contractual partners of companies on the protection of their legal positions in and outside of insolvency.

Assisting stakeholders

Confidentiality

 

is commanded by both German and English lawyers’ Codes of Ethics, at the same time restructuring and insolvency must be handled with particular sensitivity. It is not without reason that the newly introduced German restructuring law StaRUG attempts to walk the tightrope between judicial and non-public proceedings. Discretion therefore naturally also applies to the client- and work-related content of this website, and neither clients’ names nor work undertaken are discloseable.