McDermott Will & Emery has advised German automotive supplier Borges on its restructuring. Latham & Watkins acts as coordinating counsel to the bank syndicate on the restructuring, with the Prague and Warsaw offices of Clifford Chance advising the syndicate and Dentons lawyers in Frankfurt and Berlin advising Bank Ceska Sporitelna.
The deal was signed and closed in July 2019.
Borgers was founded in 1866 and produces upholstery materials that are primarily used to reduce noise in cars. Clifford Chance describes the company, which is headquartered in Bocholt, Germany and employs approximately 7,000 workers worldwide and has operations in Europe, the US and Asia, with a manufacturing presence in the Czech Republic and Poland, as "one of the world's leading manufacturers of acoustically effective components for motor vehicles." The group's annual sales amounted to approximately EUR 900 million in 2018.
The McDermott Will & Emery team included Partners Matthias Kampshoff, Oliver Lieth, Dustin Schwerdtfeger, Christoph Coenen, Oliver Hahnelt, Adam Spiegel, Anh Lee, Daniel von Brevern, Nina Siewert, Darren Azman, and Marc Oberhardt, and Associates Benedikt Schulz, Ulrike Witt, Bjorn Bieh, Ravi Vohra, David Schafer, Marta Wrobel, Rosie Mist, Clare Baglin, Emma Jolley, Rosemary McSwine, Stanislas Chenu, and Michael Rostovtsev.
The Latham & Watkins team included Partners Jorn Kowalewski, Ulrich Klockenbrink, Sibylle Munch, Vik Puri, Jennifer Brenna, Etienne Gentil, Fernando Colomina, Dirk Kocher, and Tobias Klass, and Associates Jan-Philipp Prass, Anja Hornbostel, Martina Eisgruber, Kate Zhu, Christoph Rapp, Gayle Grocke, Luke Vaz, Chithra Rengamanner, Tristan Lemaire, Pablo Alarcon.
The Clifford Chance team advising the syndicate of banks on the Czech and Polish law aspects of the restructuring was led out of Prague by Partner Milos Felgr and Of Counsel Tomas Richter and included Czech Associates Pavel Bogusky and Junior Lawyer Lucie Ruzickova. The Clifford Chance Warsaw team included Partner Andrzej Stosio and Associate Piotr Weclawowicz.
The Dentons team included Berlin-based Partner Andreas Ziegenhagen and Frankfurt-based Counsel Verena Etzel.
Editor's Note: After this article was published Dentons informed CEE Legal Matters that its team included, in Prague, Partner Jiri Tomola, Counsel Martin Fronek, and Associate Ondrej Vales, and in Frankfurt, Partner Arne Kluwer.