Dr. Wolfram Prusko

Partner

Frankfurt
Willkie Farr & Gallagher LLP
An der Welle 4
D-60322 Frankfurt am Main
T +49 69 7930 2278
F +49 69 79302 222
wpruskowillkie.com

Dr. Wolfram Prusko is a partner in the Business Reorganization & Restructuring group in Frankfurt. His practice is focused on the representation of investors, debtors and creditors with respect to cross-border special situations, restructurings — particularly financial and bond restructurings — and insolvency proceedings. Wolfram is experienced in real estate and international bank restructurings. He worked on a number of landmark international cases over the recent years in Germany and Central Europe, which include the comprehensive restructuring of the Croatian food conglomerate Agrokor (transformed into Fortenova), the resolution of the Austrian bad bank HETA Asset Resolution (f/k/a Hypo Alpe Adria Bank) and financial restructuring of the German real estate group IVG Immobilien.

Wolfram has been recognized repeatedly by IFLR1000 in its Financial and Corporate Guide as a ‘highly regarded’ lawyer in the area of restructuring and by Legal 500 for Germany and EMEA as a “Next Generation Partner.” The German business journal WirtschaftsWoche listed Wolfram as a ‘Top Lawyer’ for restructuring. Wolfram is a member of TMA Germany and served on the board of TMA Europe as well as on the steering committee of TMA NextGen Germany as founding member.

He speaks German, English, French and Italian.


Dr. Wolfram Prusko is a partner in the Business Reorganization & Restructuring group in Frankfurt. His practice is focused on the representation of investors, debtors and creditors with respect to cross-border special situations, restructurings — particularly financial and bond restructurings — and insolvency proceedings. Wolfram is experienced in real estate and international bank restructurings. He worked on a number of landmark international cases over the recent years in Germany and Central Europe, which include the comprehensive restructuring of the Croatian food conglomerate Agrokor (transformed into Fortenova), the resolution of the Austrian bad bank HETA Asset Resolution (f/k/a Hypo Alpe Adria Bank) and financial restructuring of the German real estate group IVG Immobilien.

Wolfram has been recognized repeatedly by IFLR1000 in its Financial and Corporate Guide as a ‘highly regarded’ lawyer in the area of restructuring and by Legal 500 for Germany and EMEA as a “Next Generation Partner.” The German business journal WirtschaftsWoche listed Wolfram as a ‘Top Lawyer’ for restructuring. Wolfram is a member of TMA Germany and served on the board of TMA Europe as well as on the steering committee of TMA NextGen Germany as founding member.

He speaks German, English, French and Italian.


Selected Significant Matters

Wolfram has advised on the following selected significant matters*:

  • Ardian as shareholder on the financial restructuring of Loewen Play group (2021/22)
  • 3i as shareholder on the amend & extend transaction of Christ Juwelliere (2021)
  • Potential bidder on the foreclosure sale of Berlin-based shopping center Q 206 (2021)
  • Ad hoc group of holders of senior notes issued by Wirecard AG (2020).
  • Dura Automotive Systems, LLC and certain of its subsidiaries on the European operations in their U.S. chapter 11 cases (2019/20).
  • European institutional investor group on the restructuring and sale of about EUR 150 million senior secured bonds in a and Germany-Luxembourg student living real estate structure (2017-19).
  • Agrokor on its financial restructuring (2017-19) — The financial restructuring was recognized at the 2018 Global Restructuring Review Awards as “Most important recognition decision” and honored in 2019 with a TRI Award as “Corporate Rescue of the Year — Legal Team.” Wolfram was honored with the 2019 TMA Turnaround and Transaction of the Year Award for the “International Company Turnaround of the Year — Agrokor d.d.” In addition, Agrokor was awarded “Restructuring Deal of the Year” at the IFLR Europe Awards 2020.
  • Coordinating committee of first lien lenders of Jack Wolfskin on the comprehensive financial restructuring (2016/17) —Subsequent advice to the shareholders of Jack Wolfskin on the sale of the company to Callaway Golf.
  • Ad hoc committee of senior bondholders of HETA Asset Resolution (previously Hypo Alpe Adria) (2015/16) — The 2017 IFLR Europe Awards recognized this unprecedented restructuring as “European Restructuring Deal of the Year.”
  • A.T.U on the cross-border financial restructuring and subsequent sale to Mobivia (2016).
  • Centerbridge as largest lender in restructuring of APCOA group (2014/15). The 2015 IFLR Europe Awards recognized this cross-border restructuring as “European Restructuring Deal of the Year.”
  • Ad hoc committee of senior lenders in insolvency proceedings of IVG Immobilien AG (2013/14) —In 2015, the American Lawyer recognized the successful restructuring at its Global Legal Awards as “Global Finance Deal of the Year: Restructuring in Germany.” Subsequent advice to the major shareholders of IVG Immobilien AG in connection with the sale of Officefirst to Blackstone — Dual trade exit transaction after financial restructuring.
  • Various creditors in insolvency proceedings of Lehman Brothers Bankhaus and of Global PVQ SE (previously Q-Cells SE).

* Wolfram advised on these matters prior to joining Willkie.

Prior Experience

Prior to joining Willkie in 2021, Wolfram was a restructuring partner at Kirkland & Ellis International LLP.

Selected Publications and Lectures

  • Legal commentary of Sec. 2-4 StaRUG, in: Stuerner/Eidenmueller/Schoppmeyer (eds.), Muenchner Kommentar zum StaRUG, C.H.Beck Verlag (forthcoming 2022)
  • Chapters on restructuring (international) group of companies under StaRUG, in: Bork / Kuebler / Pruetting (eds.), HRI II - Handbuch Restrukturierung in der Insolvenz, RWS Verlag (forthcoming 2022)
  • “Das neue StaRUG kann zum Krisenretter werden“ (The new German restrucutring law „German scheme“ has potential to become a savior in the crisis) in Platow Recht, November 2020, p. 6
  • “Case Study: Restructuring Systemically Important, Multinational Agrokor d.d.” in JCR, June 2019, p. 24 (co-author with B. Weiland and H. Crawford)
  • “Die Intercreditor Vereinbarung als Instrument der internationalen Restrukturierung” (The intercreditor agreement as instrument of international restructuring) in Hommel et al., Handbuch Unternehmensrestrukturierung (Handbook corporate restructuring), 2018, Vol. II, p. 2063-2079 (co-author with L. Plank)
  • “Neue Möglichkeiten der Sanierung mit Einführung der Konzerninsolvenz” (New opportunities for restructuring through the introduction of group insolvency), in Börsen-Zeitung, 24 June 2017, p. 9
  • “What is at Stake Upon Brexit for Corporate Activity – a Restructuring & Insolvency Perspective”, in: Brexit Negotiation Series, Oxford Business Law Blog, April 2017 (based on contribution to ‘Negotiating Brexit’ conference of 17 March 2017, Oxford)
  • “Restrukturierung statt Insolvenz – Warum die Brüsseler Vorgaben für das Insolvenzrecht nicht weit genug gehen” (Restructuring instead of insolvency – Why Brussels’ insolvency law directive doesn’t go far enough), in Frankfurter Allgemeine Zeitung, 21 December 2016, p. 16 (co-author with L. Plank)
  • “Aktionsplan der Europäischen Kommission - Doing Business: Nutzen und Grenzen der Weltbank-Studie” (Action Plan of the European Commission - Doing Business: Benefits and Limitations of the World Bank Report), in INDat Report 2016, p. 11-16 (co-author with J. Dettbarn and L. Plank)
  • “What’s so special about German corporate bankruptcy cases three years after ESUG reform?”, Financier Worldwide Magazine, March 2015, Special Report: Global Restructuring & Insolvency (co-author with C. Pickerill)
  • “Die Gesellschafterstellung in der Insolvenz” (The shareholders’ position in corporate insolvency proceedings), C.H.Beck Verlag, Munich 2013
  • “Regulierungswettbewerb im Unternehmensinsolvenzrecht: Ergebnisse einer empirischen Untersuchung” (Regulatory Competition in Corporate Insolvency Law: Results of an Empirical Analysis), in NZI 2010, p. 545-550 (co-author with H. Eidenmüller and T. Frobenius)