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

The Maidan Square disaster on the eve of the Ukrainian Revolution and the following fall of Yanukovych’s government, triggered the Russian annexation of Crimea and a souring of the relationship between Russia and the West.

On March 5, 2014 the EU Council froze the assets of 18 former Ukrainian high-ranking officials, suspected of involvement in the Maidan Square disaster and misappropriation of state property. Among them Mykola Azarov, the former Prime Minister of Ukraine, and his son Oleksii Azarov, turned to Alber & Geiger for help.

Strategy

The strategy employed was built on an awareness of the full scope of the rule of law in Europe today, looking at the procedural fairness surrounding the sanctions. It required a subtle deployment of innovative legal arguments and emotional intelligence to navigate through the political turbulence, EU officials and peripheral actors to the institutions, for Alber & Geiger to demonstrate their innocence with strong convictions about their executive culpability.

We put forward that the freezing of funds was of a persecutive nature and not within EU competence. The three pronged approach attacked the premise of the sanctions at the right places and times. Alber & Geiger challenged the (1) legality, (2) legitimacy and (3) non-arbitrariness of the action, grasping all the potential playmakers.

Results

Ultimately the we were able to successfully get the freezing orders imposed on Oleksii Azarov removed, and considerably improve the position of Mykola Azarov. We made clear that the arbitrary targeting of individuals lacked a sufficient legal premise.

Through diligent fact finding we were able to cast doubt on the premise of the government’s alleged responsibility in the first place. We ultimately managed to help reinforce the rule of law, getting platform for the notions of fairness and equitable treatment of individuals into the public forum at a time when fairness was not an institutional priority.

Challenge

Alber & Geiger was retained by Terna, one of the leading construction companies in Greece, who was awarded the contract to construct and operate the Greek part of the 4,400km Central Motorway (E65) connecting Malmö in Sweden to Chania in Greece.

With only one section of the Greek part completed since the award of the tender, Terna relied on our support to get the approval for both the northern and southern sections of the motorway that had been pending for years under the European Commission’s State aid rules.

Strategy

Alber & Geiger targeted key officials in different Directorates of the European Commission to overcome the impasse on the State aid clearance. Alber & Geiger worked in tandem with Members of the European Parliament to gain support for the completion of the two remaining parts of the E65 motorway. We attached language that emphasised the strategic European dimension of that North-South axis through the EU, an EU project that actually had been planned for decades.

We also pointed out the contribution of the E65 motorway to competition and regional development. Moreover, we focused on the E65’s strategic importance for Greece, the South-East Europe region and the European transport road network, as well as its positive impact on jobs, tourism and investment.

Results

Our ability to combine legal, economic, social and political arguments ensured the approval of the entire project under the EU State aid rules. The European Commission cleared the funding for the construction of the southern part of the motorway. Later, the European Commission cleared the path for the construction of the northern section of the E65.