Challenge

Global Hospitality Investments (GHI) was a large US real estate private equity investor. It acquired two properties with a loan from the former Hypo Real Estate Group (HRE). Following, the HRE’s portfolio was transferred to FMS Wertmanagement (FMS), the Federal government’s winding up institution for the HRE.

GHI offered to buy back the loan from FMS to save the property investments and proceed with the development plans. FMS was not willing to deal with GHI, which made any solution almost impossible. GHI sought Alber & Geiger’s help with the ensuing impasse to find a deal.

Strategy

We crafted a clear and concise message for the German government and the Bundestag that highlighted the bureaucratic approach of FMS regarding the offer put forward by GHI. The behaviour of FMS did not respect good governance principles and ignored the purpose upon which it was created, namely to “unwind the portfolio whenever it is financially advantageous and thus to achieve the best possible outcome in the interest of the German taxpayer.” The strategy demonstrated to the German Finance Ministry and the Bundestag that the circumstances demanded an equitable treatment of GHI. It drew on an understanding of the financial the political mindset in Germany that was used to strengthen the GHI proposal.

Results

Alber & Geiger helped GHI prepare the offer and guided the it through the entire process while ensuring the political backing of the German Finance Ministry and the Bundestag for a deal with FMS Wertmanagement. The transaction was finally successfully completed.

Challenge

Alber & Geiger was retained by a US corporation specialising in power generation. Our client had purchased an important coal power plant in Bulgaria through a long-term power purchasing agreement. After Bulgaria’s accession to the EU, the client faced complaints over EU State aid. They turned to Alber & Geiger to assist in finding a solution with the Bulgarian authorities that would have the backing of the EU institutions.

Strategy

By demonstrating the bigger picture of Bulgaria reaching out to Russian nuclear energy investments on the back of chasing out Western investors, we were able to create a strategy that targeted the European Commission and the European Parliament, dealing with energy security, environmental standards and compliance as well as the rule of law and investment protection, and shift away from a EU State aid consideration only.

Results

As a result, the European Commission opened the door to finding a solution for the client that would solve the past through a future oriented energy agreement.

Challenge

The Port of Belgrade’s property and investor rights were being violated by arbitrary Serbian legislation. There were limited domestic channels for these rights to be rectified and the Port of Belgrade was about to lose significant holdings. It turned to Alber & Geiger for help.

Strategy

The strategy made use of the new supra-national extraterritoriality, which post-communist states have been using to reconstitute certain rights and obligations. It addressed the EU institutions and Member States while Serbia was in the process of fulfilling its obligation to attain EU candidate status. It put forward comprehensive legal analysis that employed the entirety of the acquis communautaire, helping the legal narrative of the Serbian government and that of the Commission come together in a coherent mutually beneficial form.

Results

Alber & Geiger’s lobbing activity raised the awareness of European Parliament and the Commission towards the rights violations. We persuaded the European Commission to pressure the Serbian government into changing the content of these laws and to bring them in line with the EU acquis communautaire.