GÖRG advises the Free State of Saxony on financial security for the recultivation of opencast mines

17.12.2018

[Berlin, ] In order to financially secure the recultivation of the areas used for opencast mining, the state of Saxony has concluded an agreement worth billions with the energy companies concerned, Lausitz Energie Bergbau (Leag) and Mitteldeutsche Braunkohlengesellschaft (Mibrag). To this end, the companies set up special purpose vehicles in which an independent special fund totalling around 1.47 billion euros will be saved as a reserve until 2042.

The assets are managed insolvency-proof and as far as possible independently of the companies involved. In return, the energy suppliers involved have the opportunity to influence the investments made with the help of the paid-in assets.

An interdisciplinary team led by Berlin-based GÖRG partner Dr. Christoph Riese negotiated the contracts with Dr. Yorick Ruland on behalf of the Saxon Upper Mining Authority.

Advisors Oberbergamt

GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Christoph Riese, Partner, lead, Public Law, in particular Mining Law, Berlin
Dr. Yorick Ruland, Partner, Banking and Capital Markets Law, Insolvency Law, Cologne
Dr. Dania Neumann, Partner, Banking and Capital Markets, Frankfurt
Dr. Thomas Christner, Partner, Public Law, in particular Mining Law, Cologne
Dr. Paul Steinbach, Associate, Public Law, in particular Public Law Agreements, Berlin
Dirk Pallasch, Associate, Banking and Capital Markets Law, Insolvency Law, Cologne

Advisors Leag

Posser Spieth Wolfers & Partners (Berlin)
Dr. Wolf Spieth, Niclas Hellermann (both Public Commercial Law/Mining Law)

EY Law (Berlin)
Dr. Annedore Streyl (Corporate), Nicolai Weber (Insolvency Law)

Inhouse (Cottbus)
Dr. Berthold Stevens (General Counsel)

Advisors Mibrag

Posser Spieth Wolfers & Partners (Berlin)
Dr. Wolf Spieth, Niclas Hellermann (both Public Commercial Law/Mining Law)

Luther (Leipzig)
Denis Ullrich (Corporate), Dr. Marcus Backes (Insolvency Law; Hamburg); Associate: Dr. Sabrina Desens (Public Commercial Law)

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