Led by Frankfurt partner Tim Oliver Brandi, international law firm Hogan Lovells has advised the Federal Republic of Germany – Finance Agency GmbH on the granting of a stabilization measure by the Economic Stabilisation Fund (WSF) to GALERIA Karstadt Kaufhof GmbH under the Economic Stabilisation Act.

On 4 February 2022, GALERIA Karstadt Kaufhof GmbH concluded the agreement with the WSF (represented by the Federal Republic of Germany – Finance Agency GmbH) on the granting of a further stabilization measure in the form of a silent participation. Under this silent participation the WSF will provide GALERIA Karstadt Kaufhof GmbH with fresh liquidity of up to EUR 220 million to overcome the consequences of the ongoing Corona pandemic. In addition, changes were agreed to the subordinated loan that WSF had already granted the company in the previous year. Hogan Lovells had also advised WSF on this first stabilisation measure.

Hogan Lovells for Federal Republic of Germany – Finance Agency GmbH (Bundesrepublik Deutschland – Finanzagentur GmbH)

Frankfurt

Dr Tim Oliver Brandi (Partner), Simon Kiefer, Dr. Mike Karl Schmidt (Associates) (all Corporate);

Bianca Engelmann (Partner), Dr Antonia Wolf (Senior Associate) (both Banking);

Munich

Dr. Heiko Tschauner (Partner), Christine Borries (Counsel), Dr. Markus Huber (Senior Associate) (all Business Restructuring & Insolvency);