Sanochemia applies for restructuring proceedings with bpv Huegel

Today the listed Sanochemia Pharmazeutika AG applied for the opening of restructuring proceedings with the Vienna Commercial Court. bpv Huegel advises Sanochemia in the restructuring.

16 December 2019. bpv Huegel advises the listed Sanochemia Pharmazeutika AG on the  restructuring and represents the company in the court proceedings. The restructuring process without self‑administration aims for reorganisation and the going concern of the business.

The pharmaceutical company with more than 150 employees is headquartered in Vienna and operates a production site in Neufeld, province of Burgenland. Sanochemia is active in the fields of human pharmaceuticals (development, production and sale of drugs for radiology, neurology and oncology), the production of active pharmaceutical ingredients (APIs) and drug formulations and operates a research and development division. The Group has subsidiaries inter alia in Germany, Switzerland, the United Kingdom and the United States. The company’s shares are listed in the Open Market of the Frankfurt Stock Exchange and in the direct market plus of the Vienna Stock Exchange.

bpv Huegel’s team is led by partners Bernhard Schatz and Georg Rupprecht (both restructuring and insolvency) and also includes attorney-at-law Friedrich Rupprecht and associate Gabriela Kohlenberger (both restructuring and insolvency). Partner Elke Napokoj (coporate/M&A) has been a member of Sanochemia’s Supervisory Board since 2013.

bpv Huegel’s restructuring and insolvency team is regularly involved in high profile restructuring and insolvencies, recently in the restructuring proceedings of the foil manufacturer Alufix as creditor representative and of the airline Niki advising a bidder.

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