White & Case Represents Hertie in Insolvency

Düsseldorf, September 16, 2008 ... The Regional Court of Essen has appointed White & Case partner Biner Bähr as the preliminary insolvency administrator for the assets of Hertie GmbH ("Hertie") in Essen, a department chain founded in 1882 with 72 stores and employing around 4,100 staff.

Following the appointment, comprehensive measures were taken to fully maintain and continue all business operations of Hertie GmbH, and the payment of all wages and salaries was secured until the end of October 2008.

"The most important issue has been to begin all necessary restructuring and financing measures as quickly as possible," says Bähr. "Working together with the management, I will make every effort and take all opportunities available in the restructuring process to ensure operations may continue on a permanent basis. We are currently undertaking negotiations with potential national and international investors with the joint aim of securing Hertie's future."

Biner Bähr is a specialist in insolvency law. As an administrator appointed by several courts in Western Germany, he has successfully worked on insolvency proceedings of the listed company of EUROBIKE AG, the worldwide operating Hein Gericke-Group, the stockbroker Börsenmakler Schnigge AG and the sun shading and swimming pool manufacturer Krülland Andreas Krüll GmbH & Co. KG. Additionally, Bähr has extensive experience advising and representing major companies from various branches in all stages of a corporate crisis. He is regularly consulted by national and international clients for the purchase of insolvent companies (share- and asset-deals).

In addition to Bähr, the White & Case team advising Hertie includes Florian Gantenberg, Andreas Kleinschmidt, Marlene Böhmer and Bero-Alexander Lau in Düsseldorf, working alongside lawyers in White & Case offices in Germany and EMEA.

White & Case has extensive experience advising on bankruptcy law in Germany, with the practice group numbering more than 40 lawyers. The Firm's Global Financial Restructuring & Insolvency Practice was recently ranked No. 1 in the Daily Deal's bankruptcy table with a total of 534 active cases worldwide. The closest competitor's total active case load was 281. Additionally, the Firm was selected as Insolvency Law Firm of the Year 2003/2004 by German publication JUVE.

About White & Case
White & Case LLP is a leading global law firm with more than 2,300 lawyers in 37 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:
Barbara Gruber
Media Relations Manager Germany
White & Case LLP
49 69 29994 1122