DGAP-News: BEITEN BURKHARDT advises SoFFin on provision of guarantees for Düsselhyp bearer bonds
(firmenpresse) - BEITEN BURKHARDT Rechtsanwaltsgesellschaft mbH / Legal Matter/Miscellaneous
01.07.2010 15:05
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Frankfurt/Main, 1 July 2010 - International commercial law firm BEITEN
BURKHARDT has advised the German government's bank rescue funds SoFFin in
connection with the provision of guarantees for bearer bonds totalling more
than EUR 2.4 billion to be issued by Düsseldorfer Hypothekenbank AG and the
provision of guarantees for bearer bonds totalling over EUR 1 billion to be
issued by another bank.
In spring, Düsselhyp had applied to SoFFin for the provision of guarantees
for bearer bonds to be issued, totalling more than EUR 2.4 billion. The
lawyers work mainly focused on the issue of whether or not the formal and
substantive conditions for the provision of stabilisation measures in the
form of a guarantee as applied for had been met and and on the drafting and
negotiation of the guarantee documentation.
The application had been made against the background of the sale of
Düsselhyp to private equity investor Lone Star. The majority of the shares
in the troubled bank are currently held by Bundesverband deutscher Banken
e.V., the Association of German Banks. During the financial crisis, in
April 2008, Bundesverband deutscher Banken e.V. had bought Düsselhyp for
the symbolic price of EUR 1 in order to avoid a claim under the German
deposits protection fund. The remaining minority interest in Düsselhyp is
held by Prüfungsverband deutscher Banken e.V., the Auditing Association of
German Banks, through EIS Einlagensicherungs- und Treuhandgesellschaft mbH.
The other bank has withdrawn its application.
The BEITEN BURKHARDT team led by Dr. Günther M. Bredow comprised lawyers
from various office locations and practice groups.
Adviser SoFFin:
BEITEN BURKHARDT (Frankfurt): Dr. Günther M. Bredow (project management,
Frankfurt), Dr. Stephen Lampert, Katrin Lüdtke (public law / procurement
law, all Munich), Dr. Rainer M. Bierwagen (EU law, Brussels), Finn-Michael
Liebscher, Daniel Klofat, Alexander J. Thum (corporate law / capital market
law, all Frankfurt), Dr. Marcus Schwab (banking and banking regulatory law,
Frankfurt), Frank R. Primozic (insolvency law, Frankfurt)
Contact:
Dr. Günther M. Bredow
Tel.: +49 69 / 75 60 95 - 125
E-Mail: Guenther.Bredow(at)bblaw.com
Business Development&Communications
Jessica Scholz
Tel.: + 49 69 / 75 60 95 - 564
E-Mail: Jessica.Scholz(at)bblaw.com
Information about BEITEN BURKHARDT
- Beiten Burkhardt is an independent international law firm.
- Beiten Burkhardt provides advice on all aspects of commercial law to
medium-sized companies, large corporations, banks and various industry
groups, as well as to the public sector.
- Along with its offices in Germany, Beiten Burkhardt has a strong
international presence in Eastern Europe, China and Brussels. We also
cooperate closely with excellent law firms in key markets.
- Beiten Burkhardt renders legal advice worldwide, with around 330 lawyers
in 13 locations: Beijing, Berlin, Brussels, Düsseldorf, Frankfurt on Main,
Hong Kong, Kyiv, Moscow, Munich, Nuremburg, Shanghai, St. Petersburg und
Warsaw.
- For further information see www.beitenburkhardt.com
01.07.2010 15:05 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: BEITEN BURKHARDT Rechtsanwaltsgesellschaft mbH
Westhafen Tower, Westhafenplatz 1
60327 Frankfurt am Main
Deutschland
Internet: www.bblaw.com
End of News DGAP News-Service
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Datum: 01.07.2010 - 15:05 Uhr
Sprache: Deutsch
News-ID 23335
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Kategorie:
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