US firm Hausfeld launching in Berlin backed by €30m
United States firm Hausfeld is opening its doors in Berlin, backed by a €30m investment from Burford Capital. The fund will be used to fund German claims, as the firm will focus on competition litigation.comments powered by Disqus
The opening aims to take advantage of a rising market in Germany for competition litigation as well as a new law that will take effect next year. The European Commission has announced it will adopt the EU Damages Directive for competition law claims. The new law is expected to expand the rights for claimants in competition cases.
Last year, the firm opened a Brussels office, hiring Michelin general counsel Laurent Geelhand to be its office managing partner. The office is focused on antitrust disputes. Currently the firm has a number of claims in London courts, including a multi-million pound group claim against Google as well as a claim regarding foreign-exchange manipulations.
The US firm has six offices at present, in New York, Philadelphia, San Francisco, Washington, D.C., London and Brussels. It's expected the Berlin office will be staffed with competition partners and associates brought on board from a local firm. The new office in Berlin is scheduled to open on 1 January 2016.