Numerous companies are experiencing financial difficulties because banks haven’t appropriately fulfilled their main duty since the financial crisis, namely provide credits to the economy.
The refusal to grant credits is often justified by an unsatisfactory rating, without it being possible to verify whether and to what extent the used rating result is accurate.
The disclosure and advisory duties of banks linked to investment decisions have recently been raised drastically, so that even small shortcomings represent a breach of consultation duties giving rise to a right to reparation, allowing for some of the investment losses to be recovered.
Range of services
● Analysis of loan and collateral agreements
● Elaboration of debt restructuring concepts
● Drafting and assessment of loan covenants
● Assistance by credit applications
● Enforcement of and defence against claims for damages
due to breach of advisory duties
● Assessment and settlement of realisations of collaterals
● Acceptance of fiduciary functions
● Drafting of petitions (Ombudsman)
● Writing of reports to the Federal Financial Supervisory Authority
● General consulting and defence of interests in banking
and capital market matters