News & Insights

Greenlake Legal advised a large Austrian bank as creditor in the insolvency of a renewable energy production company and in the transfer of its claim to a purchaser

This was a distressed sale of debt of a project entity in the USA.

Complexity came in as the loan was initially granted to the project entity by a US bank and was subsequently transferred to our client.

In addition to the loan, transfer of the security interests needed to take place to the Austrian purchaser, which was not particularly experienced in transcontinental deals.

In the end, the purchaser became comfortable with the solution we worked out and the purchase went through.

The transaction involved legal advice for Austria and the USA.

Transaction size: EUR 10,000,000 – EUR 25,000,000

Michael Raninger and Erik Hoedl led this transaction, together with Martin Aigner.