Gesellschaftsrecht / M&A

Restrukturierungen / Insolvenz

Prozesse

Finanzierungen und Anlageprodukte

Swissport

On August 31, 2020, Swissport International AG (SPI) announced that SPI together with certain other entities of the Swissport group (Swissport) entered into a lock-up agreement for comprehensive restructuring which envisages debt-for-equity swap with approx. EUR 1.9 bn of existing debt converted into equity or extinguished and EUR 500 m in new long-term facility. Swissport also entered into binding documentation for a EUR 300 m super senior interim facility. This additional financing provides Swissport with liquidity to trade through the COVID-19 pandemic and to facilitate the restructuring process. Under the terms of the lock-up agreement, Swissport will shortly be launching an M&amp;A process to run in parallel with other restructuring steps as customary in such situations. The financial restructuring is expected to be completed in late 2020.
Swissport is world&#8217;s leader in airport ground services and air cargo handling, with 64,000 employees, achieved consolidated operating revenue of EUR 3.13 bn in 2019. At the end of December 2019, Swissport was active at 300 airports in 47 countries on six continents.
Homburger advises SPI in connection with the restructuring as to Swiss law. The Homburger team is led by partners Claude Lambert (Corporate / M&amp;A) and Stefan Kramer (Financing and Investment Products; Restructuring / Insolvency) and includes senior counsels Ueli Huber (Restructuring / Insolvency) and Georg Naegeli (Litigation; Restructuring / Insolvency), associates Marco Rostetter, Daniel Kuhn, Aron Waltuch and Nina Hagmann (all Corporate / M&amp;A; Restructuring / Insolvency), Miguel Sogo (Litigation; Restructuring / Insolvency) and Simon Bachmann (Litigation) as well as junior associates Lars Göldi (Financing and Investment Products) and Vincent Croisier (Corporate / M&amp;A).

Homburger advises Swissport International AG on its comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 m euros long-term debt facility

Wettbewerb

On December 29, 2017, Stiftung für Konsumentenschutz (SKS), a Swiss foundation for consumer protection, filed a civil damages action against Volkswagen AG and AMAG Import AG (AMAG), the independent Swiss importer for cars of the Volkswagen group, in the context of an emissions-rigging scandal. SKS had arranged for the assignment to itself of purported damages claims of approximately 6,000 car owners in order to pursue them by way of a &#8220;class action&#8221;. The Commercial Court of the Canton of Zurich held that SKS was essentially acting as a debt collection vehicle for the individual car owners, and that the foundation’s purpose did not allow for the filing of lawsuits to pursue non-contractual claims for damages. The Court dismissed the damages claim without prejudice, holding that because the claim was not within the purpose of the foundation, the plaintiff lacked capacity to sue the defendants for compensation for damages. On July 16, 2020, the Swiss Federal Supreme Court dismissed the plaintiff&#8217;s appeal against the decision of the Commercial Court. As a consequence of this judgement and the statute of limitations, no more civil damages actions can be brought in this matter in Switzerland.
Homburger represented AMAG in this litigation. The Homburger team was led by partner Marcel Dietrich (Competition, Regulatory) and senior counsel Georg Naegeli (Litigation).

Homburger successfully represented Swiss importer of Volkswagen cars in Dieselgate civil damages case

Untersuchungen

On September 7, 2017, Stiftung für Konsumentenschutz (SKS), a Swiss association for consumer protection, filed a declaratory action against Volkswagen AG and AMAG Import AG (AMAG), the independent Swiss importer for cars of the Volkswagen group, in the context of an emissions-rigging scandal. SKS sought a declaratory judgment stating that AMAG&#8217;s conduct had been unlawful under the Act on Unfair Competition. The Commercial Court of the Canton of Zurich declined jurisdiction, ruling that SKS lacked a legitimate interest under said Act to bring a declaratory action. On February 8, 2019, the Swiss Federal Supreme Court upheld the Commercial Court&#8217;s decision.
Homburger represented AMAG in the proceedings before the Commercial Court of the Canton of Zurich and the Swiss Federal Supreme Court. The Homburger team was led by partner Marcel Dietrich (Competition, Regulatory) and senior counsel Georg Naegeli (Litigation).

Homburger successfully represented Swiss importer of Volkswagen cars in Dieselgate declaratory action case

Aus seiner Tätigkeit als Vorsitzender oder Mitglied institutioneller und Ad-hoc-Schiedsgerichte hat Georg Naegeli grosse Erfahrungen in der internationalen Schiedsgerichtsbarkeit erworben. Ferner ist er Mitglied von Homburgers Fachgruppe Insolvenz und berät und vertritt Mandanten in insolvenzrechtlichen Verfahren. Von 2008 bis 2012 war Georg Naegeli Mitglied des Kassationsgerichts des Kantons Zürich. Georg Naegeli hat zahlreiche Artikel zu Themen des internationalen Schiedsverfahrensrechts, des Zuständigkeits- und Verfahrensrechts in schweizerischen Prozessen und zu zwangsvollstreckungsrechtlichen Fragen verfasst. Er ist Co-Autor von Kommentaren zur Schweizerischen Zivilprozessordnung und zur Lugano-Konvention.

Georg
Naegeli

Homburger advises Swissport International AG on its comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 m euros long-term debt facility

Homburger successfully represented Swiss importer of Volkswagen cars in Dieselgate civil damages case

Homburger successfully represented Swiss importer of Volkswagen cars in Dieselgate declaratory action case

Vortritt für die materielle Streiterledigung!

Kommentierung von Art. 227 - 234, 236 (erster Teil), 237 - 240

Insolvency 2019: Switzerland

Join the Team

Georg Naegeli

Karriere

Sprachen

Zulassung

Teams

GeorgNaegeli

Homburger advises Swissport International AG on its comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 m euros long-term debt facility

Homburger successfully represented Swiss importer of Volkswagen cars in Dieselgate civil damages case

Homburger successfully represented Swiss importer of Volkswagen cars in Dieselgate declaratory action case

Vortritt für die materielle Streiterledigung!

Kommentierung von Art. 227 - 234, 236 (erster Teil), 237 - 240

Insolvency 2019: Switzerland

Join the Team

Georg Naegeli

Karriere

Sprachen

Zulassung

Teams

Georg
Naegeli