This report analyses the possibility to outflank disclosure obligations under the German Securities Trading Act as well as the German Takeover Act by using derivative instruments in the context of the attack of Schaeffler KG on Continental AG. Irrespective of a limited knowledge of the complete...

The work report first describes the current developments on the German market for nonperforming loans, which after its peak in spring 2007 is now also affected by the financial crisis. The sale of small and medium-size portfolios is described within the scope of a case study. Furthermore, the...

The report describes the current developments of the German market for Non Performing Loans/Distressed Debt as it is influenced by the financial crisis/credit crunch. Furthermore the sale of (small and medium sized) real estate portfolios since summer 2007 is analysed in more detail.

The report deals with the current questions relating to the work-out, outsourcing and servicing of non-performing-loans. After a brief market description the paper addresses the specific problems, which arise when servicing real estate and corporate loans. Within these framework issues, which...

This work describes the legal structuring of a mortgage covered bond in accordance with the regulations of paragraphs 791 cont. and 1184 cont. German Civil Code (Bürgerliches Gesetzbuch). The work shows how to structure the share of common rights of the bond holders according to the regulations...

Despite the common view that there is inherently a relationship of confliction, it is now impossible to imagine the financing of family-owned enterprises in Germany without the alternative method of Private Equity financing. Based on a survey on Private Equity in family owned companies...

The report deals with the current legal questions relating to the trading, working out and outsourcing of non-performing loans. Within this framework the basic legal provisions and the problems arising therefrom, for example, in the area of data protection or banking secrecy, are explained and...

Sovereign Wealth Funds (SWFs) have become active investors on the financial markets. This working paper meets the increasing thirst for information on the investment activities of Sovereign Wealth Funds, their legal environment and the implications on German stock listed corporations. Thus, this...

The global distressed debt market has been established for some years now, however within this investment universe German Distressed Debt is generally considered as underdeveloped. The aim of this paper is to highlight why Investments are transacted and the framework of processes involved within...

This article analyses the recent Leica judgement of the Higher Regional Court Frankfurt/Main and its consequences. In this judgement, the court has established an infringement of special formal requirements with respect to Leica´s invitation to the Annual General Meeting which, if correct,...