"Distressed M&A is no longer perceived as a specialist matter, but is now part of the standard repertoire for many investors and lawyers, with all the opportunities it offers. However, a share deal in crisis can also result in a "rude awakening" after the transaction has been completed, when unexpected liability claims become known or long-forgotten claims resurface."

In this expert article, our partner Dr. Michael Schaumann looks at the challenges that a share deal can bring from corporate groups in crisis.