- Bech-Bruun News
- 22 March 2012
Specialised Bech-Bruun team advising businesses in the shipping industry on insolvency issues
The shipping industry is currently experiencing one of its worst crises, seen from a historical perspective. Players are faced with significant financial challenges and require specialised legal advice to enable them to successfully continue operating their businesses. Bech-Bruun's cross-border insolvency shipping team aims to maintain industry values and guide its players safely through the crisis.
The team, consisting of highly specialised lawyers from our corporate recovery and transport groups, is international oriented and advises on the new reconstruction rules and their correlation with foreign legal systems.
For the past number of years, the team has rendered comprehensive advisory services to ship owners in connection with reorganisations in Denmark and abroad. In this connection, the team has acquired great insight into, and knowledge of, the US Chapter 11 and Chapter 15 rules.
Bech-Bruun's cross-border insolvency shipping team succeeded in 2011 in having – for the first time ever - the new Danish reconstruction rules recognised as "main foreign proceedings" under the US Chapter 15 rules, in connection with The Containership Company (TCC) A/S’s successful Chapter 15 proceedings in New York.
Bech-Bruun's large international network enables the team to react at short notice, irrespective of the geographic location of the issue arising.
Should you have questions for the team, or should your business be facing particular challenges within this area, please contact one of the team's specialists.
The team is comprised by: