Acquisition and Refinancing of Generator Hostels brings LFN firms together

Queensgate Investments LLP, a UK-based real estate private equity firm, completed the purchase of Generator, a lifestyle accommodation group and Europe's fastest growing hostel brand with a number of assets across major European cities.  Some months later the group was refinanced with a new umbrella loan facility. The deal size was reported at €450m. 

The deal was managed by Brown Rudnick LLP in the UK, with LFN member firms Haver & Mailänder (Germany), Wieringa Advocaten (the Netherlands), Thomas De Carranza Abogados (Spain), Cocuzza & Associati (Italy) and  Mazanti-Andersen Korsø Jensen (Denmark), Fine Law (Romania), as well as Brown Rudnick’s own US offices, all contributing to the multi-jurisdictional project.  The firms conducted diligence on the local assets, managed local commercial and personnel matters and assisted with a complex refinancing exercise.   Later on, Baily Homan Smyth McVeigh Solicitors (Ireland) assisted in restructuring the financing and security arrangements for the group in Ireland.

This deal is a fantastic example of the LFN’s ability to work collectively on cross-border transactions in a high-profile corporate matter.  The various firms continue to assist Generator on matters as required from time to time.

 

Implementation Of A Global Cash Pooling System: Eight Lfn Member Firms Work Together To Assist German Group

The German group, active in the cable manufacturing sector, with subsidiaries in various countries, including Italy, France, Romania, Switzerland, the United Kingdom, Czech Republic and Austria, intended to set up a cash pooling system in order to optimize its cash management.

The cash pooling system, based on a Master Cash Pooling Agreement, was established and drafted on the basis of German law by Haver & Mailänder (Germany) and adjusted to the legal and financial national characteristics and requirements by the various members of The Law Firm Network. These included Cocuzza & Associati (Italy), Alexen International (France), Fine Law (Romania), Thouvenin rechtsanwälte (Switzerland), Blandy & Blandy (UK), LTA Legal s.r.o. (Czech Republic) and Baier Rechtsanwälte (Austria).

Each member firm developed tailor-made terms for their respective jurisdiction that took into account the specific requirements of their national legal system. Haver & Mailänder (Germany) served as lead firm as a “one-stop-shop” for the client, coordinating the transfer of all relevant information, billing arrangements and implementation of the system up to its completion.

The client was extremely pleased with the local expertise and seamless service provided by member firms of The Law Firm Network.

 

Cooperation in a High Scale White Collar Crime defense case

The client, a high-level employee of a major German automobile manufacturer, was represented by the German member of The Law Firm Network, Haver & Mailänder, in various matters related to the so-called “Diesel Scandal”, i. e. the alleged use of illegal software (“defeat device”) to circumvent legally prescribed limits for car exhaust by German car manufacturers. The client was also advised by the US-member of The Law Firm Network, Brown Rudnick, in regard to his testimony before the US Department of Justice.

 

Collaboration by Four LFN Member Firms to Assist a European Association in the Finding of an Appropriate Legal Form

The European Association from the accommodation sector, with members in Europe and beyond, intended to transform in to a new legal form in order to optimize its internal structure and external market presence.

Several member firms of The Law Firm Network cooperated to describe and explain the legal structures available in their respective jurisdiction with regard to predefined criteria, including legal nature, liability questions, complexity of formation formalities, flexibility of possible purposes, flexibility of internal structures and tax aspects.

Haver & Mailänder Rechtsanwälte Partnerschaft mbB (Germany) served as a lead firm, as a “one-stop-shop” for the client, coordinating and presenting the contributions from the other member firms: Thouvenin rechtsanwälte (Switzerland), Baier Rechtsanwälte (Austria) and Ponet & LVP advocaten (Belgium).

The client was extremely pleased with the local expertise and seamless service provided by jointly by the member firms of The Law Firm Network.

 

Assistance in Relation to Cannabis Products

Mazanti-Andersen, Korsø Jensen (Denmark) was able to assist a Danish client through the The Law Firm Network together with Baily Homan Smyth McVeigh (Ireland). The client wanted to enter the Irish market with cannabis products for non-medical use (CBD-oil) and needed to make sure that all relevant local laws were complied with to avoid any violation of the Irish drug legislation. By using The Law Firm Network, Mazanti-Andersen, Korsø Jensen (Denmark) was able to provide the client with local professional assistance as well as a legal opinion, so the client could proceed with the launching of the cannabis products in Ireland.

 

Multi-Jurisdiction Legal Opinions for German Bank

Various member firms of the The Law Firm Network regularly cooperate to assist a major German bank by providing legal opinions across various jurisdictions. In the context of international financing projects, the client requires assurance on the legal validity and enforceability of credit securities granted over assets located in various parts of the world, by parties also located in various parts of the world. The client also requires assurance on the legal existence, status and proper representation of the various foreign entities involved in the transactions as borrower and/or as provider of security. Preparing the legal opinions is headed and coordinated among the various other members from the relevant jurisdictions by our German member, Haver & Mailänder Rechtsanwälte Partnerschaft mbB. The client is pleased to receive a one stop shop solution at a reasonable fixed fee.

 

China/Vietnam: LFN Member Firms Work Together on A Major Cross-border Transaction

The client is a listed company and ranks among top 500 Chinese companies. The client intends to purchase the display panel related business from a Fortune 500 company who is the world leading company of this industry. In addition to mainland China, the businesses and assets to be acquired are also located in various jurisdictions. The size of the deal is estimated to be more than USD 1 billion. In addition to advising client on the legal matters, The Law Firm Network’s Chinese member, MHP Law Firm, as the project leader, is coordinating and working with law firms in various other jurisdictions. As part of the business and assets are located in Vietnam, LFN member firm Indochine Counsel (Vietnam) advises the client from Vietnamese law perspective. The scope of legal work includes advices on deal structure, legal due diligence, transaction document preparation, negotiation, assistances on closing, etc.

 

Cooperation by Five LFN Member Firms in an Employment Restructuring Project

Several member firms of The Law Firm Network are advising a US-based Group on the restructuring of employees in Europe. Headed by the German member of The Law Firm Network, Haver & Mailänder Rechtsanwälte Partnerschaft mbB, our members in Austria, BAIER Rechtsanwälte, our French member Ydès Société d’Avocats, our Dutch member Wieringa Advocaten and our Hungarian member SZEDSKAY Attorneys at law, employment lawyers are successfully collaborating in this cross-border project.

 

Canadian Aerospace Company successfully advised by our members from Canada, Czech Republic and Singapore

Our Canadian member, LSA avocats, and our Czech member, LTA LEGAL S.R.O. have cooperated on behalf of a prominent Montréal based business in the aerospace field, which is expanding worldwide. Cooperation focused on major projects in the area of public procurement law. The same client was advised by our Singapore member, Engelin Teh Practice LLC, in the entry to the Asian market and incorporation there. Successful cooperation among our members has ensured that the client has received high quality legal services in the various relevant jurisdictions from our dedicated members.

 

Germany/Turkey: LFN members cooperate in a White Collar Crime Case

The client, a Turkish textiles manufacturer experienced a fraud case in relation to its exports. The case also involved a Germany company as being potentially related to the perpetrators. The Turkish member of The Law Firm Network, PAE (who represented the Turkish textiles manufacturer) cooperated with the German member of The Law Firm Network, Haver & Mailänder Rechtsanwälte Partnerschaft mbB in regard to any potential actions against the German company.

 

Permanent Joint Client Support by our Members from Poland and Czech Republic

The Polish and Czech member of The Law Firm Network, Turcza Kancelaria Radców Prawnych and LTA Legal, provide continuous coordinated cross-border support to a Polish company active in shipping and transportation of cars on the European scale. Services are rendered mainly in business related agenda and debt collections, including representation in court and administrative proceedings. Turcza and LTA Legal also cooperate in the same way on behalf of various other clients from Poland and from the Czech Republic. The close cooperation between the members from neighbouring countries enables the clients to receive fast and reliable orientation in legal institutes of the other country and an easy access to data in public registers in both Poland and the Czech Republic.

 

Joint UK / Russia Collaboration on Fintech-Project

Blandy & Blandy (England) was able to assist Westside Law Firm (Russia) in relation to the terms and conditions of business, or rulebook, for an online collateral management platform. Westside’s Russian client was establishing an online collateral management platform which would employ advanced distributed ledger technologies. This fin-tech project is aimed at providing additional guarantees relating to goods pledged to a lender thus increasing the value of a collateral. The rulebook was to be subject to English Law and so Blandy & Blandy was able to liaise with Westside Law Firm and advise on the form of the rulebook and on technical aspects such as the enforceability of electronic signatures under English law.

 

Expansion of US Fitness Chain in European Market

The members of The Law Firm Network from the Netherlands, Wieringa Advocaten, and from Germany, Haver & Mailänder Rechtsanwälte Part mbB, are working together on behalf of a group of investors intending to expand the presence of a US-based chain of fitness clubs in the European market.

 

Conference in Seoul about Overseas Investment in Korea

The members of The Law Firm Network LIWU Law Group (Korea) and Poovayya & Co. (India) hosted a joint conference in Seoul about Overseas Investment in Korea. The event was attended mainly by Korean companies that are interested in India or have plans to enter India. Senior lawyers from both LIWU and Poovayya spoke about, inter alia, overseas investment procedure, Korea-India relationship, about India’s labour law, foreign direct investment law, product liability law, cases in India for joint ventures between Korea and India, and India’s higher court’s trends toward commercial litigation.

 

Luxembourg/Belgium: LFN members cooperate in a white collar crime case

The client, an investment fund domiciled in Luxembourg with investments in real estate in Belgium, was defrauded by approx. €40 million in an ongoing civil, criminal, money laundering case. The Luxembourgish member of The Law Firm Network, Hoogewerf & Co., involved in the management of recovery of assets in Luxembourg, cooperates with the Belgian member, Ponet & LVP advocaten, to secure the remaining assets and pursue recovery of dissipated funds in Belgium.

 

Argentina/Chile: Co-ordinated cross-border support to European fintech

The Argentine and Chilean members of The Law Firm Network, Barreiro. Oliva. De Luca. Jaca. Nicastro and Bertrand-Galindo, Barrueto, Barroilhet, provide continuous coordinated cross-border support to a major European fintech providing payment services in LATAM. Barreiro and Bertrand-Galindo la firms are new members to the LFN but are already profiting from the organization's agile and cooperational culture. The close cooperation between the members from neighbouring countries enables the clients to receive fast and reliable orientation in legal institutes of the other country. 

 

Chile/Spain. Collaboration In corporate law for a major energy company

Our Chilean member Bertrand-Galindo Barrueto Barroilhet & Cía advises TOTAL one of the world's most important energy companies on the acquisition of solar power plants in Chile. Bertrand-Galindo Barrueto Barroilhet has been assisted by our Spanish member Thomas de Carranza Abogados who has been in charge of the corporate DD of the selling companies of Spanish nationality.