At the start of 2009 the German government was trying to rescue the country’s banking sector, M&A and finance had dried up, and a significant uptick in litigation and restructuring had yet to materialize. Lawyers were wondering just how serious the downturn was going to be.
The answer: not quite as bad as people feared. “The difference from last year is that it’s now easier to see the issues facing our clients,” says Markus Meier, a litigation partner with Hengeler Mueller in Frankfurt.
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