Strong growth of the law firm Schalast also in Berlin
At the turn of the year 2020/2021, the Frankfurt-based commercial law firm Schalast took another major step in its growth path. The firm opened new offices in Duesseldorf and Stuttgart, expanded its offices in Berlin and Hamburg, and added a tax team. This brings the number of professionals working at the firm's five offices to more than 75. Schalast is thus one of the 60 largest law firms in Germany.
Schalast strengthened the Berlin office as of January 1, 2021 with the addition of attorneys Tom Braegelmann as Partner and Annick Fuchs as Special Counsel. "Tom Braegelmann brings two particularly valuable skills to the table for us: He is an experienced insolvency and restructuring lawyer and he deals with legal tech and the digitalization of law like few others. The importance of both will undoubtedly increase." is how Prof. Dr. Christoph Schalast sums it up. Braegelmann, who is also admitted to practice as an Attorney at Law in New York, joined Schalast from the Berlin office of BBL Brockdorff & Partner and will build up the restructuring practice area at Schalast, which is linked to the practice groups Banking & Finance on the one hand and Corporate & M&A on the other. He thus ideally complements the long-standing NPL practice at Schalast. Tom Braegelmann adds "I am looking forward to applying Schalast's well-known interdisciplinary strength and modernity with the new colleagues now also in the area of the new Corporate Stabilization and Restructuring Act, StaRUG, which will come into force on January 1, 2021. From then on, the law will offer completely new possibilities for corporate restructuring, also within groups, and the restructuring of non-performing loans in order to legally avoid insolvencies. From consulting experience, especially with startups, and as co-editor of the legal handbook ‚Artificial Intelligence and Machine Learning', I know how much digitality is also taking hold of and transforming legal advice and clients. That's where Schalast is the first port of call." In addition to Braegelmann, Annick Fuchs joins Schalast, where she will also work at the interface of the Corporate & M&A and Banking & Finance practice groups. In addition to her admission in Germany, Annick Fuchs is also admitted to practice as an Attorney at Law in California. Before joining Schalast and a station at Freshfields, she worked for many years for Paypal as Head of Legal - first in Germany and then in the US. She primarily focuses on advising in the start-up environment, primarily in the tech and payments sectors, assisting both start-up companies and investors. "We are very pleased that Annick Fuchs gives us access to the exciting US start-up market in particular and that together we can advise both German and international clients on their interesting projects" comments Prof. Dr. Andreas Walter, Head of Schalast's Banking & Finance Practice Group.
Schalast has been growing continuously since 2017. A first important step was the opening of the office in Hamburg as well as the acquisition of CLARIUS.LEGAL as a LegalTech and Legal Project Provider. The current growth follows a clear strategy. In Berlin, the goal is to consistently further expand central topics such as LegalTech, restructuring, also in connection with NPL, as well as VC/startup consulting but also a Berlin-typical sector expertise (tech, bio, healthcare, payment, etc.). The new tax team completes the full service offering, especially in the areas of banking and finance as well as corporate & M&A, but also covers new topics. The growth will often be achieved with colleagues who have been associated with the firm for many years. Dr. Oliver von Schweinitz and Prof. Dr. Christoph Schalast have known each other for more than ten years from NPL transactions, the new Stuttgart team has a long shared advisory history with the head of the Corporate & M&A practice Gregor Wedell, and the contacts with Tom Braegelmann in connection with LegalTech topics also go back a long way. Dr. Markus Schuback and Hamburg partner Dr. Roland Arlt know each other from their joint work for Paul Hastings in Frankfurt am Main.