Insolvency Law and Restructuring

Our Insolvency team is a leader in both restructuring and bankruptcy. Our extensive experience accumulated over the years has given us insight into legal solutions in which our commercial approach and specialist legal knowledge ensure that the creditors' interests are protected in the best possible manner.

We protect creditors' interests

In a troubled company, it is crucial that the creditors' interests are protected and that steps are taken very quickly when proceedings are instigated. The employees in this context are potential creditors, and solutions addressing employment conditions therefore need to be developed rapidly to ensure the optimum solution for the creditors.

Speed is essential

Restructuring proceedings call for speed - delivered by specialists. The team, with a partner at the helm, is composed within the first hours of a new case. Other Plesner specialist departments are involved in certain insolvency proceedings, and are also assigned to the case within a matter of hours. Availability is a key priority in insolvency proceedings - otherwise, we risk losing speed and efficiency. Plesner's Insolvency team is available to the creditors both before and during the proceedings.

International experience

Plesner's Insolvency team has gained experience from a broad spectrum of international restructuring and bankruptcy proceedings. This experience offers in-depth knowledge of cases in other jurisdictions, and Plesner's network also ensures that the best foreign specialists are involved.

Insolvency disputes

Plesner's Insolvency team is leader in litigation on matters of insolvency law, whether we represent the estate in bankruptcy or the creditor that may be a party to the dispute. Avoidance proceedings are naturally abundant, either for creditors or estates in bankruptcy, but there are also many cases of challenging the validity of the security provided. We examine proof in bankruptcies and also assist the creditor in presenting a statement of claim for damages, for instance when an attempt is made to disclaim a contract on the basis that it is onerous. In addition, we assist in collecting claims and are also front-runners in the exploration of liability issues for corporate management and auditors. We are always keen to conduct cases, but always make sure that we understand the creditors' view on our way of handling the case. Many disputes can be resolved by sensible settlement negotiations, others are referred to arbitration, and a third option is mediation. The important thing for us is that the dispute is resolved as quickly and well as possible, while paying attention to costs.

In some cases, it is possible to complete bankruptcy proceedings more promptly than usual, maybe by obtaining the creditors' consent for resorting to liquidation proceedings instead. We find that we provide value-creating services if we manage to present the speediest solutions - protecting the creditors' interests in the best possible manner.

Highlights

  • OW Bunker - administration of the OW Bunker estate, the largest bankruptcy in Denmark in recent history
  • Fenicia Invest - administration of the estate in bankruptcy consisting of a large hotel project in Spain and various property investments in Denmark as well as the disposal of a number of subsidiaries/associated companies etc.
  • K/S Sweden Real Estate Portfolio - administration of the estate in bankruptcy; the administration work consisted of the sale of a large property portfolio etc.
  • Sterling Airlines A/S - estate administration of the Danish airline
  • Centerplan A/S - estate administration of the property company
  • Stolelyngen Invest A/S and consolidated companies - trustee of the estate in bankruptcy
  • Sandgården A/S - estate administration of the property company
  • MG gruppen A/S and consolidated companies - trustee of the estate in bankruptcy
  • I.T.M. MARINE SERVICE ApS - trustee of the estate in bankruptcy
  • Buksesnedkeren A/S - estate administration of the clothing company
  • BIVA A/S - estate administration of the furniture company
  • Icea Denmark A/S - estate administration of the printing firm
  • Estatum A/S and consolidated companies - trustee of the estate in bankruptcy

Ratings

  • Plesner is one of Denmark’s largest and leading firms and has top tier rankings across a range of areas. The restructuring team advised on a number of high-profile financial restructurings and insolvencies (2019)
  • "Very skilled, with a fast response rate." 

    "One of the major players,"

    "The lawyers are commercially minded."
    (2018)
  • Within Insolvency and restructuring, Plesner is a first tier firm.

    Plesner’s insolvency and restructuring practice is lauded for its "deep industry knowledge". (2018)
  • Recognised across the board as one of the strongest firms in Copenhagen, Plesner continues to collect plaudits for its work in all areas of practice. (2018)

  • Leading team that is active in major insolvency and restructuring proceedings. Team members regularly act as trustees in bankruptcies. Handles a range of domestic and cross-border mandates for clients that include financial institutions.

    "They have very skilled people there, they answer quickly and always have qualified answers to legal queries."

    "They are top-class and have the right skill-set." (2017)
  • Within Insolvency and restructuring, Plesner is a first tier firm. 

    Plesner's "excellent" group often acts for creditors, particularly major banks and insurance companies. (2017)
  • One of the established top-tier firms in the Danish market. Clients point to the overall quality of the firm as an outstanding aspect of its work.

    "They deliver very solid work - they are both diligent and commercial."

    "I would be very happy to use them again, they were excellent" (2017)

  • "The team is very good; the lawyers are very responsive and easy to work with."
     (2016)
  • Within Insolvency and restructuring, Plesner is a first tier firm. (2016)
  • Across the board Plesner is recognised by clients and peers alike as one of the leading teams in the Danish market doing some of the most significant work.

    "Plesner are extremely responsive. The high quality of their output is equivalent to a magic circle law firm". (2016)

  • Plesner is listed in "Band 1" as regards Restructuring/Insolvency. (2015)
  • Market-leading expertise in insolvency issues, including liquidation and administration of bankruptcy estates. Particularly focused in the real estate, shipping and energy sectors. Boasts significant experience in large-scale restructuring matters.

    "It has the manpower to engage in the largest matters and has superb connections."

    "Usually present on deals and always highly capable and helpful." (2015)

  • Plesner has provided us with high-quality advice and service regarding the various issues in connection with a bankruptcy. Their work, especially the collaboration with foreign lawyers to ensure sound legal advice regarding properties in that country, has been over and above what is normally expected from a Danish law firm. (2015)
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