Vienna, 7 August 2020. Fellner Wratzfeld & Partner (fwp) once again demonstrates its extensive expertise in the fields of financing, insolvency and restructuring by advising the core banks of Huber, the long-established lingerie manufacturer based in Vorarlberg, also in connection with the reorganisation proceedings initiated in late May 2020 with regard to individual companies of Huber Group.

At the end of May 2020, reorganisation proceedings with debtor-in possession were opened by the Regional Court Feldkirch (Landesgericht Feldkirch) over the assets of Huber Holding AG, HUBER-SHOP GmbH, Huber Tricot Gesellschaft mbH and ARULA GmbH, respectively. The lingerie manufacturer based in Vorarlberg is a leading textile company. With the hearings on the reorganisation schedule set for 27 August 2020, the reorganisation efforts will enter a decisive stage.

fwp has been supporting the consortium of Huber Group’s core banks in all legal issues related to the restructuring of financings since 2017. The international banking syndicate is made up of UniCredit Bank Austria, BAWAG P.S.K, Commerzbank, Raiffeisenlandesbank Oberösterreich and HYPO Vorarlberg. The internationally active Huber Group comprises a highly complex network of domestic and foreign companies. 

“Thanks to the banks’ cooperation, which has been successfully supported by the fwp.TEAM, follow-up insolvencies of many domestic and foreign companies could be prevented. Huber Group is gaining stability which, as a consequence, will preserve a great number of jobs”, says Markus Fellner, name partner and Head of Restructuring.

fwp ended up providing comprehensive advice to Huber Group which exceeded the legal aspects of a syndicated financing and included questions on realising and securing collateral in a highly complex, international group environment. Huber Group’s assets reach from the US all the way to Hongkong. Hence, fwp put its trust in its tried and tested international network of partner law firms.

The fwp team headed by Markus Fellner comprised, among others, fwp partner Florian Kranebitter (restructuring/finance) and fwp associate Felix Kirkovits (restructuring/corporate/M&A).