Berlin—Global law firm Dentons has advised insolvency administrator Dr. Frank Kebekus on the sale of software producer Orga Systems to the Canadian company Redknee Inc. This deal comprised the entire business operation, including Orga System’s subsidiaries in Argentina, Brazil, India, Italy and Ukraine as well as its branch in Turkey. Dentons advised Orga Systems in connection with the M&A process as well as with the preparation, negotiation and signing of the transaction.

Orga Systems develops software for accounting systems — inter alia for telecommunication companies. With more than 650 employees worldwide, Orga Systems was able to generate revenue of €60 million in 2014.  Due to expiring bank loan agreements, however, it had to file for insolvency in April this year. Because of the transaction, all of Orga Systems’ sites and the vast majority of jobs can be saved.

The team led by Partner Dr. Arne Friel comprehensively advised Orga Systems already prior to the insolvency proceedings, in connection with the insolvency filing and with the transaction. Apart from insolvency law, corporate law, competition and employment law related questions, Dentons also organized and coordinated legal advice rendered in the countries where the subsidiaries are located.

The German team is comprised of Partners Dr. Arne Friel, Dr. Jörg Karenfort and Dr. Markus Diepold, Counsel Dirk Schoene and Matthias Stelzer, Senior Associates Dr. Jan Seelinger, Dr. Norman Hölzel as well as Associates Judith Specht, Jakob Pickartz.

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