McDermott Advised Oaktree Capital Management on the Realisation of the Loan by Means of a Private Sale

Overview


Düsseldorf, March 16, 2017. – McDermott Will & Emery advised Oaktree Capital Management on the realisation of the loan by means of a private sale in cooperation with the insolvency administrators. Through the transaction, FFIRE Immobilienverwaltung AG acquired a portfolio of six office properties throughout Germany.

The particular difficulties of the transaction compared to a “normal” asset deal were that the sellers from Germany and Luxembourg were both insolvent and under compulsory management. This presented complex legal problems to all parties involved on the buyer and seller side with regard to transaction security. Thus, for example, the purchase price payment was to be insolvent-proof as well as the payment of the purchase prices and the termination of the forensic administration.

Advisers: Dr. Ulrich Flege, Dr. Marc Oberhardt (insolvency law), Nina Siewert (tax law), Andreas Herzig (real estate management).

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