Hengeler Mueller is advising KfW on the recovery of public funds amounting to €222 million from the German Northvolt project company. These funds had originally been provided by KfW as part of a €600 million convertible bond issued by Northvolt’s parent company for the construction of a battery factory in Heide. Due to Northvolt’s insolvency, this project could no longer be realised.
The repayment of the funds is based on a tailored legal solution developed jointly by KfW and Hengeler Mueller. Concurrently, the project company was separated from the insolvent Northvolt Group through restructuring proceedings under the German Restructuring Act (StaRUG).
Inhouse team KfW
Klaus Hellermann, Nick Aghanassir, Tobias Spahn, Oriana Corzilius.
Hengeler Mueller team for KfW
Special Situations/Restructuring: Daniel M. Weiß (partner, lead, Frankfurt), Moritz Müller-Leibenger (counsel), Felicitas Sussmann (both Berlin), Nükhet Tanrikulu (Düsseldorf, both senior associate), Moritz Bach, Niclas Claussen (both Frankfurt), David Rüther (Düsseldorf, all associate),
Financing: Henning Hilke, Pascal Brandt (both partner, both Frankfurt),
Public Law/Regulatory: Jan. D. Bonhage (partner), Henri Roth (associate, both Berlin),
Corporate/M&A: Frank Burmeister, Johannes Adolff, Lucina Berger (all partner), Guglielmo Ziani (senior associate, all Frankfurt),
Dispute Resolution: Daniel Engel (partner), Moriz Mertz (counsel), Gerlind Wolf (senior associate, all Munich),
Tax: Sebastian Adam (partner), Karl Hummel (associate, Steuerrecht).