Dentons Bucharest office provides legal advisory to STA Travel – the world’s largest student and youth travel company, for the insolvency procedures of its local operations.
Despite a history that traces back to a company founded by two Australian backpackers in 1979, STA Travel in Switzerland filed for insolvency in August this year, citing consumer uncertainties, further restrictions and renewed lock-down measures in the context of the pandemic. The travel company belongs to Diethelm Keller Holdings headquartered in Switzerland.
Doru Postelnicu, Counsel, Dentons Bucharest: „The current pandemic is placing a great deal of stress on businesses of all sizes and we will continue to see companies facing difficulties in navigating the storm. Dentons’ lawyers have significant experience in finding solutions in distress situations, guiding clients through the process and safeguarding various stakeholders involved even in case of bankruptcies.”
Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons‘ legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons‘ polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.
Dentons’ legal team in Bucharest, under the leadership of Managing Partner Perry Zizzi, provides its clients with a results-oriented approach and efficient legal solutions. In over two decades of activity in Romania, the Firm has advised on cornerstone deals for domestic and international clients across multiple sectors. Key practice areas include Banking and Finance, Real Estate, Corporate, Employment, Energy and Infrastructure, Competition and Litigation.