Fellner Wratzfeld & Partner has advised German battery manufacturer Varta in StaRUG restructuring proceedings.
StaRUG is the German Stabilization and Restructuring Framework for Businesses.
According to FWP, the Regional Court of Stuttgart dismissed all objections against the restructuring plan, making it final and non-appealable. Under the plan, the main shareholder and investor Porsche contributed EUR 60 million, while banks and other creditors waived parts of their claims in exchange for future participation. Porsche also acquired 70% of Varta subsidiary V4Drive, facilitating the supply of high-performance batteries for hybrid sports cars.
The FWP team included Partners Markus Fellner, Paul Luiki, and Lukas Flener, Attorneys at Law Florian Henockl and Nadine Maros, and Associates Wolfgang Plischnack, Sebastian Kremnitzer, Manuel Schweiger, Petra Ungerbock, Mark Timar, and Claus Wintersteller.
