Leo Plank
Overview
‘Leo is nothing less than a true master in his line of work’ and ‘a veteran of many intensive and complicated negotiations, which shows in his work.’ He is regarded as ‘an authority in the distressed area.’ - Chambers
Leo Plank is a restructuring partner in the Munich office of Kirkland & Ellis International LLP.
Leo advises Kirkland clients in complex, high-stakes financial restructuring and bankruptcy matters. He represents a range of clients, including high-yield and distressed debt investors as well as companies involved in LBO financing and multinational restructurings. He and his team have a reputation for collaborating closely with one another to craft creative solutions, drive consensus among all the stakeholders of a matter, and achieve favorable outcomes – even in the most challenging of circumstances.
Positioned on the forefront of many of the most high-profile, multi-jurisdictional restructuring and insolvency matters across Europe, Leo not only earned the “Lawyer of the Year” honors for his work in Germany by Handelsblatt Best Lawyers in 2018, but was also recognized as “Best Lawyer” for Restructuring and Insolvency Law every year since 2014. WirtschaftsWoche 2023 lists him as one of the most renowned lawyers for restructuring in Germany and Chambers Europe recognizes Leo as a Tier 1 “high-energy and creative adviser” who “can find solutions that nobody else can find.” Furthermore, IFLR1000 ranks Leo in its 2024 guide as a “market leader” for restructuring and insolvency as well as financial restructuring in Germany.
Clients value the skills Leo and his group draw upon in exercising strategic diplomacy to pull people together and reach satisfactory compromise. In one complicated matter, for example, he and his colleagues led more than 60 stakeholders in negotiations with 14 billion euros at stake, successfully forging consensus among the many different stakeholders.
Leo and his team have prevailed in several first-ever in-court and out-of-court restructuring matters. Some have served as blueprints in the profession that future restructurings will follow, such as the ATU transaction, the IVG debt equity swap and the HETA Resolution Transaction.
Experience
Representative Matters
Representative matters include advising:
- Flint Group in relation to its successful comprehensive recapitalization and restructuring of c. EUR 1.3 billion of debt
- Lenders under LEONI AG’s EUR 750 million RCF facility on the restructuring of the German automotive supplier through the largest ever German Scheme (StaRUG) process
- Invacare Corporation and its subsidiaries in their prearranged Chapter 11 cases
- SiO2 Medical Products, Inc. and certain of its affiliates in their prearranged Chapter 11 cases
- Ad hoc group of noteholders on the successful financial restructuring of Safari Holding Verwaltungs GmbH (Löwen Play)
- Carlson Travel, Inc. and 37 of its affiliates in the fastest cross-border prepackaged Chapter 11 transaction to date
- Bain Capital on the bidding process for a majority stake in Condor
- Arvos Group in relation to its financial restructuring
- Apollo on the bidding process for certain operations of Greensill Capital UK
- Ad hoc group of holders of senior notes issued by Wirecard AG
- Orchard Global Asset Management and Deutsche Bank on the financial repositioning and takeover of HIT Group
- Galapagos, a European provider of heat exchange and machine cooling systems, in relation to its financial restructuring
- Ad hoc group of lenders on the successful recapitalization of BARTEC Group. The transaction included a change of ownership, an investment of EUR 80 million of new equity and the significant reduction of financial debt
- Aegean Marine Petroleum Network Inc. and certain subsidiaries in their Chapter 11 cases – In connection with its restructuring, Aegean has reached agreements with certain key stakeholders to deleverage its balance sheet by more than USD 700 million and continue as a going concern
- Agrokor on its financial restructuring – As one of the most important employers in the Balkans, the insolvent food company was placed under state supervision in order to implement a restructuring plan
- Coordinating committee of first lien lenders of Jack Wolfskin on the comprehensive financial restructuring – The restructuring was implemented with the consent of all relevant stakeholders
- Ad hoc group of senior bondholders of HETA Asset Resolution AG (f/k/a Hypo Alpe Adria) – First time restructuring of financial institution under new European banking regime BRRD
- A.T.U on their cross-border financial restructuring and subsequent sale to Mobivia – Ground-breaking, highly innovative creditor-led restructuring applying an unprecedented flip-up technique, using also UK pre-pack sale by a non-UK issuer
- Secured lenders of Scholz Group on the financial restructuring – Largest 2015 out of court restructuring with a highly complex capital structure
- Ad hoc group of senior lenders of BARTEC group on the financial restructuring – Successful renegotiation of by private equity investor imposed restructuring concept via a scheme of arrangement
- Centerbridge as largest lender in restructuring of APCOA Group – First ‘change of law’ based application of English scheme to Germany incorporated company; largest scheme challenge in English legal history
- Ad hoc group of senior lenders of IVG Immobilien AG – One of the largest German insolvency proceedings under new 2012 ESUG regime reorganizing the capital structure under an insolvency plan in debtor-in-possession
- Strategic Value Partners on the out-of-court restructuring of SolarWorld AG – One of the largest German bond restructurings up to date and one of the largest out-of-court restructurings in Germany
- Rodenstock GmbH on the restructuring of its capital structure – First-instance financial restructuring of a German company through an English scheme of arrangement
- Furthermore, Leo Plank has represented on the creditor or debtor side:
Almatis B.V., Braas Monier Building Group, Dura Automotive Systems Inc., Escada AG, Hanwha Q Cells GmbH, JOST World Group, Kiekert Holding AG, Klöckner Pentaplast Group, Lear Corporation, Martinrea Honsel GmbH, Schefenacker AG, Tele Columbus GmbH, Visteon Corporation
Prior Experience
Broich Bayer von Rom, Frankfurt, Germany
- Partner, Restructuring and Insolvency Group (2004–2006)
Bingham McCutchen LLP, London, UK
- Associate, Restructuring and Insolvency Group (2002–2004)
Bingham McCutchen LLP, New York, USA
- Associate, Restructuring and Insolvency Group (2000–2002)
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Credentials
Admissions & Qualifications
- 2004, Germany
- 2003, Admitted to practice as a Solicitor of England and Wales
- 2001, New York
Languages
- German
- English
- French
Education
- Leopold-Franzens-Universität InnsbruckDr. jur.2001
- University of Connecticut School of LawLL.M.2000
- Leopold-Franzens-Universität InnsbruckMag. jur.1999
- University of Wales Institute, Cardiff, School of LawDiploma in English Legal Studies1995