Global law firm White & Case LLP advised the states of Hamburg and Schleswig-Holstein, Germany, on the adjustment of the risk shield for HSH Nordbank AG, which amounted to €10 billion in its year of establishment (2009) and which has in the meantime been reduced to €7 billion.
"The adjustment of the risk shield alongside the current capital increase is another important step in meeting the requirements of the EU Commission which had approved state aid for HSH subject to certain conditions in autumn 2011" said Dr. Volker Land, partner at White & Case.
The White & Case team was led by partners Dr. Volker Land (Hamburg, Corporate / Capital Markets) and Dennis Heuer (Frankfurt, Bank Finance / Structured Finance). The team also included Ulf Gosejacob, Daniel Baierlein (both Frankfurt, Bank Finance / Structured Finance) and Jessica Hallermayer (Hamburg, Corporate / Capital Markets). They were assisted by counsel Christoph Arhold (Berlin / Brussels, state aid law).
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