Insolvency & Restructuring

Legal 500 - Insolvency and corporate recovery (Tier 2)

CHSH Cerha Hempel Spiegelfeld Hlawati’s ‘practical, reliable and efficient’ team ‘provides hands-on advice’ and predominantly acts for creditors and shareholders of distressed and insolvent companies in liquidation proceedings, corporate reorganisations, restructurings and pre-insolvency debt collections. ‘Very responsive’ team head Thomas Trettnak is ‘very pleasant to work with’ and advised Neenah Paper on issues arising from the insolvency of its supplier KRESTA Anlagenbau, while also assisting Whirlpool and its subsidiary KitchenAid with debt collection measures.

Chambers & Partners (Band 3)

What the team is known for Especially recognised for its experience in distressed M&A, corporate reorganisation and debt restructuring matters. Widely known for its creditor representation. Also acts on insolvency-related litigation and sales of non-performing loan portfolios. Clients include major national and international players in the banking, technology, and oil and gas industries.

Strengths A client is impressed by the team's responsiveness, saying: "The lawyers were very prompt at getting back to us."

Work highlights Advised the UK branch of Agent Provocateur on the acquisition of all assets owned by the insolvent Agent Provocateur Austria.

Assisted Vienna Club of Coffeehouse-Owners with the restructuring of its finances.

Significant Clients Neenah Paper, Whirlpool, STRENESSE, Kreidl Family Trust, Steamship Insurance Management Services.

Notable practitioners                  

Thomas Trettnak focuses on the restructuring of distressed companies and distressed M&A transactions. He assisted JSR Corporation as shareholder with the restructuring of BIA Separations. Clients appreciate him for being "very personable and always on top of his work."


  • The Legal 500 2018: Europe, Middle East & Africa 
  • IFLR 1000  2018 - The Guide to the World's Leading Financial Law Firms 
  • Chambers & Partners 2018, Chambers Europe - Europe's Leading Lawyers for Business