Clifford Chance

Clifford Chance advises a syndicate of German and Czech banks regarding restructuring of the automotive supplier Borgers

Clifford Chance advised a syndicate of German and Czech banks regarding Czech and Polish law issues relating to the restructuring of the international automotive supplier and engineering company Borgers.

The restructuring, signed and closed in July 2019, involved banks as well as the major OEM customers of the Borgers group.

Borgers employs approximately 7,000 workers worldwide and is one of the world's leading manufacturers of acoustically effective components for motor vehicles. Headquartered in Bocholt, Germany, the group has operations in Europe, the US and Asia, with significant manufacturing presence in the Czech Republic and Poland. The group's annual sales amounted to approx. EUR 900 million in 2018.

The cross-border Clifford Chance team advising the syndicate of banks on the Czech and Polish law aspects of the restructuring is being led out of Prague by Banking & Finance Partner Miloš Felgr, together with Of Counsel Tomáš Richter. The Prague team further comprises of Associate Pavel Boguský and Junior Lawyer Lucie Růžičková. Team of Clifford Chance Warsaw consists of Banking & Finance Partner Andrzej Stosio and Associate Piotr Weclawowicz. Latham & Watkins acts as coordinating counsel to the bank syndicate on the entire restructuring.