At the 2017 International Financial Law Review European Awards presentation, BINDER GRÖSSWANG received the award for “European Restructuring Deal of the Year 2017: HETA”. The awards ceremony gala was held on 20 April 2017 at The Savoy hotel in London. BINDER GRÖSSWANG partners Michael Kutschera, Christian Klausegger and Tibor Fabian travelled to London to attend the ceremony.
BINDER GRÖSSWANG, as the representative of the largest group of HETA creditors, was materially involved in the negotiations with the Austrian Federal Ministry of Finance for the HETA buyback, as well as in its implementation. The lead counsels were dispute resolution partner Christian Klausegger and banking & finance partner Tibor Fabian. The solution that Binder Grösswang developed together with its clients found wide acceptance among the creditors.
The law journal International Financial Law Review (IFLR) annually confers awards in various categories for the most innovative deals, teams and law firms.
BINDER GRÖSSWANG’s managing partner Michael Kutschera comments: “We are especially pleased to receive this prestigious international award. The prize stands for an exceptional transaction in financial and commercial law in Europe. Many aspects of the HETA deal lay in uncharted legal territory, and we can therefore be justifiably proud of having negotiated a solution that was acceptable to all parties.”