Webcast
Our webcast series "Distressed M&A - The Fine Art of the Bespoke Deal", hosted by Deloitte Legal in cooperation with industry experts from Deloitte Financial Advisory and Deloitte Tax, examines the latest developments in connection with distressed M&A transactions from different perspectives. Although the insolvency of a company is a drastic event, the acquisition of a company out of insolvency can offer considerable opportunities.
After the successful kick-off event, in which the basics, terms and important legal framework conditions of M&A transactions in connection with crisis situations were presented, in the second session our experts Frank Tschentscher LL.M., Marcus C. Spangenberger, M.B.L., Dr Lars Hinrichs, L.L.M. and Elisa Ultsch will introduce you to employment law structuring options in transactions in the insolvency environment.
The parties involved in the M&A transaction can take advantage of the privileged structuring provisions of insolvency employment law, particularly in the case of restructuring measures in connection with the acquisition of companies in an insolvency environment, which can provide all parties involved with reliable legal and planning security in individual cases. This second session of our webcast series will focus on the following employment law topics:
- the acquirer concept (Erwerberkonzept), which enables investors to restructure an insolvent company according to strategic needs prior to the takeover in order to be able to continue and restructure it sustainably after the acquisition. In particular, we will examine the components of the personnel structure that are relevant under employment law and discuss the facilitations and special features provided for in the German Insolvency Code (Insolvenzordnung, InsO) in the context of staff reduction and in connection with collective agreements.
- The use of transfer companies for the personnel reduction required in individual cases as an instrument of the greatest possible legal certainty for the acquirer in relation to the employees of the insolvent company affected by the personnel reduction, with the specific structuring options and associated challenges in relation to incentivising the affected employees to transfer to the transfer company.
- Options for structuring changes to working conditions (including company pension commitments) with regard to the employees taken over by the acquirer from the insolvent company.
In the webcast, our experts will provide you with valuable insights and practical hints on how you can make the most of the opportunities in the current market environment.
Please feel free to ask your questions for the Q&A section when you register.
Information
Webcast in German language – please feel free to contact our experts for explanations in English language.
For organizational questions, please contact
Madeleine A. Thrun
Tel: +49 211 87724645
E-Mail: athrun@deloitte.de
Your Contact
Frank Tschentscher, LL.M. (Nottingham Trent Univ.)
Frank Tschentscher joined Deloitte Legal as a partner on 1 July 2021. He advises on German and international restructuring and insolvency law and has extensive knowledge and more than 23 years of experience in negotiating and implementing complex restructuring projects in Germany and abroad. Frank Tschentscher regularly represents groups of international financial creditors and/or bank consortia in the out-of-court restructuring of (partly listed) companies but also does debtor work. Before joining Deloitte Legal, he worked for many years as a restructuring and insolvency partner at leading law firms in Germany and England. He is also admitted as a Solicitor (England & Wales) and has many years of experience advising clients on English insolvency and restructuring law (including corporate proceedings such as the Scheme of Arrangement). Frank Tschentscher is the author of numerous publications in German and English and regularly speaks on insolvency law and restructuring related topics at domestic and foreign conferences. Best Lawyers has recommended Frank Tschentscher in the restructuring and insolvency law and mergers and acquisitions categories since 2019, and the JUVE Handbook lists him as a frequently recommended lawyer in the "Restructuring and Insolvency" category. At Legal 500 Germany, he is described as "very experienced in insolvency, balanced in his judgement and a good negotiator" as well as one of "the best connoisseurs of UK restructuring law, but above all also of the UK restructuring culture"). Frank Tschentscher wrote his Master's thesis on English and European insolvency law. Until recently, he was President of INSOL Europe, the leading international organisation of professionals specialising in insolvency. He continues to advise the INSOL Europe Country Council on special matters. Publications
Marcus C. Spangenberger, M.B.L.-HSG
Marcus Spangenberger is Counsel at Deloitte Legal and a key member of the Restructuring and Insolvency Practice Group. In this role, he provides comprehensive forensic and advisory services to companies and insolvency administrators, specializing in insolvency and corporate law. His expertise lies in the restructuring and continuation of companies. He often prepares protective shield and self-administration proceedings and accompanies the entire process. Additionally, he advises managing directors, shareholders, supervisory boards, and creditors on insolvency-related legal issues. Marcus Spangenberger has extensive industry experience, particularly in the retail and automotive sectors. Before joining Deloitte, Marcus Spangenberger worked for several years at leading law firms in the areas of restructuring and insolvency, gaining valuable experience in managing complex restructuring projects and insolvency proceedings. In addition to his professional activities, Marcus Spangenberger is a founding member and board member of the Kreis für Transformation und Restrukturierung e.V., a member of HSG Alumni, and a member of INSOL Europe. He wrote his master's thesis on capital market law, further highlighting his extensive knowledge in this area.
Dr. Lars Hinrichs, LL.M. (Univ. Stockholm)
Dr. Lars Hinrichs advises national and international clients on all human resources and labour law related issues of German Employment and Labour Law. He is specialiced in the design, implementation and modification of remuneration systems in regulated and non-regulated business sectors (including company pension systems), in the planning and implementation of restructuring measures and transformation processes and in the labour law consultancy of M&A transactions. Lars regularly holds lectures and publishes HR and labour law related articles in HR and legal journals. Lars works for Deloitte Legal since 2019. Before his entry to Deloitte Legal, Lars had worked since 2007 as lawyer in the Labour Law departments of other leading international law firms in Frankfurt and Hamburg.
Elisa Ultsch
Elisa Ultsch works as attorney for Deloitte Legal in the Service Line Employment Law & Benefits since 2022. She advises national and international clients in various sectors of individual and collective employment law, with a focus to all questions of company pension schemes. Elisa Ultsch also acts as a speaker on external and internal events and as an author of scientific publications on these topics. Elisa Ultsch studied law at the Greifswald University with a focus on business and labor law. During this time, she worked as research assistant at her alma mater at the chair of medical law, labor law and legal history. She completed her legal clerkship at the Higher Regional Court of Stuttgart. Before joining Deloitte Legal, she worked in employment law for another leading national law firm. Elisa Ultsch speaks German and English.
