Gebr. Sanders GmbH & Co. KG’s bond restructuring

Heuking Kühn Lüer Wojtek has advised bedding manufacturer Gebr. Sanders GmbH & Co. KG, Bramsche, as part of a bond restructuring

The team led by Sickinger and Weinand-Härer advised Sanders on the intended bond restructuring in corporate law, capital market law, and tax law. This included, in particular, advising the client on convening and holding several bond creditors’ meetings, both as attendance meetings and by way of a vote without a meeting. A joint representative of the bond creditors was appointed for this purpose, who was tasked with asserting the rights of bond creditors in the insolvency proceedings.

In 2013, Sanders had issued a bond at a nominal volume of EUR 22 million. Insolvency proceedings on Sanders’ assets were initiated on January 1, 2017, following preliminary insolvency proceedings in self-administration that had already been initiated on September 29, 2016.

After the insolvency proceedings had been initiated and investor bids obtained in a bidding process, the joint representative was eventually authorized on a bond creditor meeting to accept the bid of a strategic investor on behalf of the bond creditors.

Sanders has produced and sold textiles for more than 300 years. The company employs a staff of 125 at its Bramsche headquarters.

Heuking Kühn Lüer Wojtek has advised Gebr. Sanders GmbH & Co. KG with Mirko Sickinger (Picture) (Lead, Capital Markets), Klaus Weinand-Härer (Lead, Tax), Sven Radke, Lena Pfeufer (both Capital Markets) and Christian Staps (Corporate/M&A, insolvency law).

Involved fees earner: Mirko Sickinger – Heuking Kühn Lüer Wojtek; Sven Radke – Heuking Kühn Lüer Wojtek; Lena Pfeufer – Heuking Kühn Lüer Wojtek; Klaus Weinand-Härer – Heuking Kühn Lüer Wojtek; Christian Staps – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: Gebr. Sanders GmbH & Co. KG;