His clients include distressed debt investors that he advises on the acquisition and restructuring of capital market instruments, loans and liquidation claims.
Dr Josef Parzinger
Partner
Josef advises creditors, debtors, the management or shareholders in connection with cross-border financial restructurings of stressed and distressed businesses, which are implemented consensually or by means of formal processes.
Expertise
Industries
Experience
Representative matters
A company from the real estate sector in connection with the financial restructuring and the acquisition of a majority share by the Uni-tranche Lender.
Largest secured creditor in the insolvency proceedings of SolarWorld AG.
The largest secured creditor in the financial restructuring of A1 mobil GmbH & KG (previous law firm experience).
Galapagos, a European provider of heat exchange and machine cooling systems, in relation to its financial restructuring (previous law firm experience).
Ad hoc committee of senior bondholders of HETA Asset Resolution AG (previously Hypo Alpe Adria) (previous law firm experience).
Pro bono
Debt counselling organisation as e.g. the H-Team e.V.
Published Work
- Kommentierung der §§ 60-63 StaRUG (legal commentary §§60-63 StaRUG), in: StaRUG Kommentar, 1st ed. 2022 (eds. Seibt,Westpfahl) (together with J. Lappe)
- Kommentierung der §§ 5-16 StaRUG (legal commentary §§ 5 - 16StaRUG), in: Münchener Kommentar zum StaRUG (eds. Stürner,Eidenmüller, Schoppmeyer, Madaus) (together with L. Knebel)
- Buchbesprechung “Flöther (Hrsg.): Unternehmensstabilisierungsund-restrukturierungsgesetz (StaRUG), Kommentar” (book review“Flöther (ed.): Unternehmensstabilisierungs- und-restrukturierungsgesetz (StaRUG), legal commentary”), in:Zeitschrift für Wirtschaftsrecht (ZIP) 7/2022, p. 308 (together with P. Buschhaus)
- “Zulässige Rechtsberatung in der Schuldnerberatung – Diezentralen Regelungen im RDG” (Permissible legal advice in debt counselling – the central regulations in the RDG), in: BAG SB Informationen – Die Fachzeitschrift für Schuldnerberatung 1/2022,p. 13 (together with V. Elvers)
- "Der Restrukturierungsplan nach dem StaRUG im Lichte grenzüberschreitender Restrukturierungen – praxistaugliches Anerkennungsregime oder ein Fall für die obersten Gerichte?" (The restructuring plan under the German Scheme (StaRUG) in the light of cross-border restructurings - suitable recognition regime or a case for the supreme courts?), in: Zeitschrift für Wirtschaftsrecht (ZIP) 2021, p. 1041 (together with Ch. Schlöder and L. Knebel)
- Chapter on Germany, in: International Comparative Legal Guide (ICLG) – Restructuring & Insolvency, 15th ed. 2021 (together with J. Lappe and M. Berger)
- "Ein großer Wurf und eine verpasste Chance" (A great success and a missed opportunity), in: Börsen-Zeitung (BZ) 247/2020, p. 8 (together with L. Plank)
- Comment to decision of the Federal Court of Justice dated 7 May 2020 (case no. IX ZB 56/19): "Missbräuchliches Akteneinsichtsrecht von Gläubigern mit festgestellter Forderung" (Creditor's right to access the register of creditors to solicit Claims sales), in: Neue Zeitschrift für Insolvenz- und Sanierungsrecht (NZI) 2020, p. 731 (together with S. Lürken)
- "Die Prüfung der Zahlungsunfähigkeit unter besonderer Berücksichtigung prognostischer Elemente" (The determination of insolvency with a focus on prognostic elements), in: Zeitschrift für Wirtschaftsrecht (ZIP) 2019, p. 2143 (together with B. Meyer-Löwy and J. Lappe)
- "Der Vorrang für neues Geld nach der Restrukturierungsrichtlinie" (The priority for new financing under the European Restructuring Directive), in: Zeitschrift für Wirtschaftsrecht (ZIP) 2019, p. 1748
- "Aufnahme ausländischer juristischer Personen in die Vorauswahllisten zur Bestellung von Insolvenzverwaltern" (Listing a foreign corporate entity for insolvency administrator in Germany), in: Gesellschafts- und Wirtschaftsrecht (GWR) 2016, p. 125
- "Die neue EuInsVO auf einen Blick" (Summary of the new European Insolvency Regulation), in: Neue Zeitschrift für Insolvenz- und Sanierungsrecht (NZI) 2016, p. 63
- "Falltraining Insolvenzrecht" (Textbook with exercises for insolvency law), C.F. Müller Verlag, Heidelberg 2015
- "Keine Haftung nach § 64 II GmbHG aF für Forderungseinzug auf debitorisches Bankkonto bei Sicherungsabtretung" (No liability of the managing directors for collecting receivables on in-debt accounts in case of an assignment for security), in: Gesellschaftsund Wirtschaftsrecht (GWR) 2015, p. 370
- "Europäische Reformen unter die Lupe genommen" (European reforms thoroughly checked), in: INDat Report 04/2015, p. 45
- "Anordnung der Vorläufigen Eigenverwaltung kann aufgrund besonderer Umstände aufgehoben werden (‚MIFA')" (Reversal of a court order as to debtor-in-possession proceedings), in: Gesellschafts- und Wirtschaftsrecht (GWR) 2015, p. 41
- "Zur Insolvenzfestigkeit von Lizenzen an US-amerikanischen Patenten (‚Quimonda AG')" (On the recognition of German insolvency proceedings in the US (‚Qimonda AG')), in: Zeitschrift für Wirtschaftsrecht (ZIP) 2015, p. 235 (together with B. Meyer-Löwy)
- "Das Crowdinvesting als neue Form der Unternehmensfinanzierung" (Crowd-investing as new way of business financing), in: Gesellschafts- und Wirtschaftsrecht (GWR) 2013, p. 153, (together with W. Weitnauer)
- "Fortführungsfinanzierung in der Insolvenz" (Financing a bankrupt business), C.H. Beck Verlag, Munich 2013
- Comment to decision of the Federal Constitutional Court dated 13 December 2023 (case no. 2 BvR 2143/21 “Constitutional complaint against the opening of insolvency proceedings – both the admissibility of the insolvency application and the existence of a reason for opening are relevant”, in: FD-InsR 2024, no. 4
- Comment to decision of the Local Court of Berlin-Charlottenburg dated 4 January 2024 (case no. 36s RES 6525/23): “Cross-class cram-down according to the StaRUG and takeover of the shares by the financial creditor (Spark Networks SE)”, in: FD-InsR 2024, no. 2
- Comment to decision of the Higher Regional Court of Brandenburg dated 18 October 2023 (case no. 7 U 8/23): “Fiduciary commitment of the shareholder in the internal relationship does not prevent subordination according to sect. 39 (1) sent. 1 no. 5 InsO “, in: FD-InsR 2024, no. 1
- Comment to decision of the Federal Court of Justice dated 16 August 2023 (case no. VII ZB 64/21): “Non-pledgeability of the claim for Corona subsidy III - no application of the regulations for protected bank accounts to current accounts of legal entities “, in: FD-InsR 2023, no. 21
- Comment to decision of the Federal Court of Justice dated 13 July 2023 (case no. IX ZB 24/22): “pledgeability of the Corona subsidy for Lower Saxony officials and judges “, in: FD-InsR 2023, no. 20
- Comment to decision of the Higher Regional Court of of Bamberg dated 31 July 2023 (case no. 2 U 38/22): “Obligation of the management consultant to pay damages to the managing director of the commissioning GmbH due to breach of duty in the restructuring assessment according to the IDW S6 standard “, in: FD-InsR 2023, no. 20
Speaking Engagements
- Guest lecturer for law trainees at the Munich OLG [Higher Regional Court] 2014/2015
- Lecturer at Ludwig-Maximilians-University Munich, Germany
Recognition
“Josef is recommended as one of Handelsblatt Best Lawyers 2022 for restructuring and insolvency law and listed in the 2022 edition of Legal 500 Germany and the JUVE Handbook German Commercial Law Firms 2022/2023.”
Awards
- Top Lawyer for Restructuring, WirtschaftsWoche/HRI 2024
Qualifications
Admissions
Admitted as Lawyer (Germany), 2014
Academic
Second German Law Degree, Higher Regional Court of Munich, Germany, 2014
Dr. iur, Ludwig Maximilians University Munich, Germany, 2013
First German Law Degree, University of Munich, Germany, 2010
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.