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Overview

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.

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The Law Firm Network is a network of independent law firms founded in 1989. Our members are not affiliated in the joint practice of law; each member firm is an independent law firm and renders professional services on an individual and separate basis.