Berlin—Global law firm Dentons has advised Dr. Philip Hackländer of White & Case Insolvenzverwaltung GbR in the framework of a restructuring transfer by successfully selling the business of the insolvent A.D.A.M Audio GmbH, located in Berlin. The sale of its foreign subsidiaries in the US and Great Britain was prepared by Dentons’ offices in London and New York. The buyer is a syndicate of companies guided by CWM Beteiligungsgesellschaft mbH.

A.D.A.M. Audio develops and produces high-end loudspeakers tailored for professional audio technology, in particular for sound studios. For the last few years A.D.A.M. Audio has also supplied the home audio market. Overall, the company employs 55 people in its Berlin production site and is represented in more than 60 countries worldwide. The sale secures the continuation of business and maintains 50 of the 55 employees.

The entire transaction was carried out with a tight schedule. The sale was executed on the day that the insolvency proceedings opened, which was only four weeks after the petition for the opening of insolvency proceedings has been filed at the competent court. The restructuring team led by Andreas Ziegenhagen and coordinated by Counsel Dirk Schoene advised on all legal and taxation issues and accompanied the contract negotiations.

Adviser Insolvency Administrator/A.D.A.M. Audio GmbH:
Dentons (Berlin/Frankfurt): Andreas Ziegenhagen (Partner), Dirk Schoene (Counsel, coordinator, both Restructuring/M&A), Michael Seppelt (Counsel, Tax), Dr. Jan Seelinger (Senior Associate, Restructuring/M&A)

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