Noerr advises banking syndicate on VARTA AG

10 Jan 2025Announcements

Noerr supports VARTA AG’s financial restructuring, including significant debt reduction and new equity, under StaRUG

Noerr has advised a banking syndicate on the restructuring of VARTA AG under the German Corporate Stabilisation and Restructuring Act (StaRUG). The restructuring plan aims to reduce VARTA’s debt from €485 million to approximately €230 million while securing €60 million in new equity and a €60 million loan. The plan has been accepted by a majority of stakeholders and confirmed by the Stuttgart Local Court. The Noerr team, led by Andreas Naujoks and Simone Schönen, navigated the diverse interests of stakeholders to facilitate the process.

Legal News desk contact: editorial@solicitorsjournal.com

Latest Articles

IAA shines light on first report

The Immigration Advice Authority (IAA) has published its first Annual Report, marking a significant milestone as the organisation enters a new chapter under fresh leadership

National Sickie Day brings grim warning

Today marks National Sickie Day, the last before significant law changes pose financial challenges for employers

Mediation experts voice concerns about funding

Family mediation experts are calling for government clarity on the future of the Family Mediation Voucher Scheme

Litigation funding after PACCAR: adaptation and growth

How England’s litigation funding market is adapting post-PACCAR amid judicial flexibility, legislative signals, and continued expansion

Winston and Taylor Wessing merge to form new firm

Winston & Strawn and Taylor Wessing have voted to combine, creating a major transatlantic law firm

Mishcon de Reya appoints new leader

Mishcon de Reya has announced the election of Daniel Naftalin as its new Managing Partner, set to take office in summer 2026 after a transitional period

Fletchers comments on clinical negligence report

Peter Haden, chief executive of Fletchers, has welcomed the Public Accounts Committee's report on clinical negligence highlighting its human and financial impact and the importance of improved collaborative claims resolution methods

Ex-LCF CEO and wife face contempt

Michael and Debbie Thomson, former LCF CEO and his wife, admit to multiple court order breaches

Youth justice sees record lows in 2024

Recent statistics highlight significant reductions in youth justice involvement, but systemic delays and biases pose risks for progress

Government caps ground rents for leases

The UK government has announced a cap on ground rents in older leases, sparking mixed reactions among experts

Major boost for legal aid fees

Access to justice in Scotland has been significantly improved with a 13% increase in all legal aid fees following a sustained campaign from the Law Society of Scotland

LawCare surpasses pandemic support levels in 2025

LawCare's latest report reveals an unprecedented increase in mental health support demand within the legal sector in 2025, reaching 753 individuals, more than any previous year.

NHS negligence costs demand urgent action

The Association of Consumer Support Organisations urges transparency and solutions to tackle clinical negligence issues

Joseph Mark Taylor v James Lee Taylor: Unfair prejudice found in family property company dispute

High Court finds unfair prejudice in quasi-partnership property company after director excluded brother shareholder.

Molnar and Vargova v Secretary of State: deportation rights under the Withdrawal Agreement

Court of Appeal clarifies procedural safeguards for EU citizens facing deportation for post-Brexit offences.

SJ Interview: Joelle Grogan

Dr Joelle Grogan is a legal scholar specialising in the rule of law in times of crisis. She presents The Law Show on BBC Radio 4, and is Co-Academic Director of the Rule of Law Clinic at the CEU Democracy Institute (Budapest), and a Senior Research Fellow at the UCD Sutherland School of Law. Her work focuses on constitutional accountability, emergency powers, and legal misinformation. In this interview, she examines the pressures facing the rule of law in the UK, from executive power and court delays to media narratives, emergencies, and the impact of AI on legal practice.

AI in Law: responsibility never delegated

As AI becomes routine in legal practice, regulators and courts insist accountability stays firmly with the human professional