Günter is a partner of Oppenhoff. He was an associate and (since 2004) managing associate at Oppenhoff & Rädler/Linklaters LLP from 2001 to 2007. He studied law at the University of Münster (Dr. iur.).
Dr. Günter Seulen
Mergers & AcquisitionsCorporate LawBanking and Capital Markets Law, FinancingCompliance
Experience
Günter Seulen specialises in corporate law (in particular German stock corporation law) and capital market law advice to national and international enterprises and groups, including company and group restructurings, as well as advice on D&O liability and compliance structuring. He also advises German and foreign enterprises in German and cross-border acquisitions and joint ventures.
He has been voted to be one of the Top Compliance Lawyers in Germany in the areas of corporate law and D&O liability (Wirtschaftswoche 2015).
Günter Seulen is co-author of a commentary on the German Mergers and Transformations Act (Umwandlungsgesetz) and lecturer on corporate group law at the University of Münster.
Education
Dr. Günter Seulen
PartnerAttorney
Languages
German, English, French
Konrad-Adenauer-Ufer 23
50668 Cologne
T +49 221 2091 405
F +49 221 2091 333
Books and Legal Commentaries
"Deutsche Tochter im internationalen Konzern – Rechtshandbuch für die Praxis" [German subsidiaries of international groups – a practical legal handbook]
Munich 2019, Chapter F "Compliance" (in cooperation with Stephan Müller)
Umwandlungsgesetz [German Mergers and Transformations Act]
ed. by Semler/Stengel, 2017, Annotation to Secs. 22, 120 - 122, 133, 134, 152 - 160 UmwG
Mergers & Acquisitions - International Series 2016
Country report Germany, ed. by Martin/Perry, pub. by Sweet&Maxwell, 2016, (in cooperation with Rolf Koerfer and Dr. Christoph Niemeyer)
Unternehmensfinanzierung Mittelstand, ed. by Kessler, 2015, § 4: "Gesellschaftsrechtliche Rahmenbedingungen" [Corporate financing medium-sized enterprises, 2015, Sec. 4: Corporate law framework conditions]
(in cooperation with Dr. Harald Gesell)
"Haftung für fehlerhafte Sekundärmarktpublizität“ [Liability for incorrect secondary market information]
Handbook on capital markets information] ed. by Habersack/Mülbert/Schlitt, § 31, (in cooperation with Dr. Georg Maier-Reimer)
"Der Entwurf der EG-Übernahmerichtlinie 1999 und deren mögliche Umsetzung in das deutsche Recht" [The draft of the EC Directive on Takeover Bids 1999 and its possible implementation into German law]
docotoral thesis, 2002
Articles and Essays
„COVID-1.9-Pandemie - Erleichterung für Umlaufbeschlüsse bei der GmbH“ [COVID-19 pandemic – facilitation of circular resolutions at GmbHs]
DER BETRIEB dated 08 June 2020, No. 23, pp. 1225 - 1226 (in collaboration with Phillip Heinrichs)
"Ausschluss vom Geschäftsführeramt auch für Teilnehmer einer Katalogstraftat" [Exclusion from the office of managing director also for participants in a cataloged offense]
DER BETRIEB, 09.03.2020 (Article by Günter Seulen and Philipp Heinrichs)
"Zur Offenlegung der vor Beitritt eines Anlegers an einen Gründungsgesellschafter gewährten Sondervorteile im Emissionsprospekt” [Disclosure in the issuing prospectus of special privileges granted to a founding shareholder before an investor joins]
DER BETRIEB dated 23 March 2020, p. 609 (in collaboration with Dr. Alexander Krebs)
“Umsetzung der 5. EU-Geldwäscherichtlinie verabschiedet“ [Implementation of the 5th EU Money Laundering Directive adopted]
DER BETRIEB dated 23 December 2019, Nr. 51-52
"Keine Nichtigkeit eines Hauptversammlungsbeschlusses über die Bestellung von Aufsichtsratsmitgliedern bei Verletzung von Mitteilungspflichten" [Resolution of the general meeting on the appointment of supervisory board members not invalid in the event of
DER BETRIEB dated 16 December 2019, p. 2792 (in collaboration with Dr. Andreas Krebs)
"'Widerruf' der Versorgungszusage eines Geschäftsführers bei Existenzgefährdung der Gesellschaft durch grobes Fehlverhalten“ [„Revocation" of the pension commitment of a managing director in the event of a threat to the company’s existence due to gross mi
DER BETRIEB dated 28 October 2019, p. 2399 (in collaboration with Dr. Andreas Krebs)
"Keine Außenhaftung des GmbH-Geschäftsführers wegen insolvenzauslösenden 'Griffs in die Kasse’" [No external liability of the GmbH’s managing director due to an insolvency-triggering ‘hand in the till’]
DER BETRIEB dated 29 July 2019, p. 1672, DB1309642 (in collaboration with Dr. Andreas Krebs)
"Umsetzung der 5. EU-Geldwäscherichtlinie - Neues zum Transparenzregister” [Implementation of the 5th EU Money Laundering Directive - News on the Transparency Register]
DER BETRIEB dated 22 July 2019, Issue 29, pp. 1617-1618 (in collaboration with David Falkowski)
"Zur Unwirksamkeit einer Freistellungsklausel in einem Kaufvertrag über einen Kommanditananteil" [The invalidity of an indemnification clause in a purchase agreement for a limited partner's share]
DER BETRIEB dated 15 July 2019, p. 1555 (in collaboration with Dr. Andreas Krebs)
"Zur Unwirksamkeit einer die Leitungsmacht des Vorstands beschränkenden Vereinbarung” [The invalidity of an agreement restricting the managerial powers of the management board]
DER BETRIEB dated 24 May 2019, p. 1199 (in collaboration with Dr. Andreas Krebs)
"Wahl des Aufsichtsrats: Keine Beschlussanfechtung wegen Abweichung von Empfehlungen des DCGK“ [Election of the Supervisory Board: Resolution not contestable on grounds of a deviation from GCGC recommendations]
DER BETRIEB dated 5 April 2019, p. 775, DB1299969 (in collaboration with Johannes Janning)
"Referentenentwurf für das ARUG II" [Draft bill for the implementation of the revised Shareholders' Directive]
Der Betrie 2018, S. 2915 - 2921
"Keine Mitteilungspflicht eines Unternehmens mit 25%-Anteil an AG über unmittelbare oder zugerechnete Inhaberschaft an den von ihm gehaltenen Anteilen" [No notification oblivation of an enterprise holding a 25% share in a stock corporation as to direct or
Anmerkung zu OLG München, Urteil vom 04.07.2018 (7 U 131/18), EWiR 2018, S. 745
"Gerichtliche Abberufung von Aufsichtsratsmitgliedern" [Dismissal of supervisory board members by a court]
annotation of the decision of the Higher Regional Court of München dated 28.08.2018 (31 Wx 61/17), DER BETRIEB 2018, pp. 2868-2869, DB1287243 (in cooperation with Johannes Janning)
"Postlaufzeit und Ankündigungsfrist bei Einberufung von GmbH-Gesellschafterversammlungen" [Postal delivery time and the notification period for calling a shareholders’ meeting at a German limited liability company]
annotation of the decision of the Higher Regional Court of Jena dated 15.06.2018 (2 U 16/18), DER BETRIEB 2018, p. 2296, DB1280607
"Zur Reichweite der Notgeschäftsführung analog § 744 Abs. 2 BGB bei der GbR" [The scope of emergency management in analogous application of Sec. 744 para. 2 German Civil Code at a civil law partnership]
annotation of the decision of the Federal Court of Justice dated 26.06.2018 (II ZR 205/16), DER BETRIEB dated 7 September 2018, p. 2165, DB1278527 (in cooperation with Alexandra Dölves)
"Zuständigkeit für Überprüfung der Angemessenheit einer Abfindung nach Squeeze Out" [Jurisdiction for the review of the adequacy of a compensation in case of a Squeeze Out]
annotation of the decision of the European Court of Justice dated 7 March 2018 (C-560/16), IWRZ 2018, p. 133
"Verbleib des kündigenden Gesellschafters in einer Publikumsgesellschaft bürgerlichen Rechts bei Auflösung vor Wirksamwerden der Kündigung" [On the remaining of a terminating partner of a publicly held civil-law-partnership in case of dissolution before t
annotation of the decision of the Federal Court of Justice dated 6 February 2018 (II ZR 1/16), DER BETRIEB 2018, p. 1202 (in cooperation with Alexandra Dölves)
"Novelle des Geldwäschegesetzes: Neues Transparenzregister eingeführt" [Amendment of the German Money Laundering Act: introduction of new Transparency Register]
Börsen-Zeitung dated 2 September 2017, p. 9
"Kein Handeln der AG gegenüber Vorstandsmitglied bei Abgabe paralleler Willenserklärungen" [No acting of a stock corporation vis-á-vis its board in case of parallel declarations]
annotation of the decision of the Federal Court of Justice dated 25 July 2017 (II ZR 235/15), EWiR 2018, p. 167 (in cooperation with Alexandra Dölves)
"Zur Reichweite des gesellschaftsvertraglichen Wettbewerbsverbots eines Gesellschafter-Geschäftsführers einer GmbH" [Scope of the restraint of competition stipulated in the articles of association for a shareholding managing director of a German limited l
annotation of the decision of the Higher Regional Court of Stuttgart dated 15 March 2017 (14 U 3/14), DER BETRIEB 2017, p. 1502 (in cooperation with Katharina Erb)
"Wirtschaftliche Betätigung eines eingetragenen Vereins – Gemeinnützigkeit indiziert ideellen Zweck" [Economic activities of a registered association – non-profit status indicates non-commercial purpose]
annotation of the decision of the Federal Court of Justice dated 16 May 2017 (II ZB 7/16), DER BETRIEB 2017, p. 1575 (in cooperation with Sarah Scharf)
"Erfüllung der Mitteilungspflichten nach einem Beteiligungserwerb" [Fulfilment of notification obligations after the acquisition of an equity interest]
annotation of the decision of the Federal Court of Justice dated 5 April 2016 (II ZR 268/14) EWiR 2017, p. 71
"BGH: Nichterfüllung der Pflicht zur Erbringung der Stammeinlage" [Federal Court of Justice: Non-fulfilment of the duty to render the capital contribution]
annotation of the decision of the Federal Court of Justice dated 19 January 2016 (II ZR 61/15), DER BETRIEB 2016, p. 762
"Haftung des Sanierungsgeschäftsführers wegen Masseschmälerung gem. § 64 Satz 1 GmbHG" [Reorganisation managing director’s liability for a reduction of assets pursuant to Sec. 64 sentence 1 German Limited Liability Companies Act]
annotation of the decision of OLG Brandenburg dated 12.01.2016 (6 U 123/13), DER BETRIEB 2016, p. 2652 (in cooperation with Dr. Nefail Berjasevic)
"Zulassung eines Dritten als Vertreter oder Begleiter eines Gesellschafters zur Gesellschafterversammlung einer GmbH" [Admission of a third party as representative and companion of a shareholder at a general meeting of the German limited liability company
annotation of the decision of the Higher Regional Court of Dresden dated 25 August 2016 (8 U 347/16), DER BETRIEB 2016, p. 2535 (in cooperation with Dr. Luise Hauschild)
"Zehn Jahre bis zum Urteil?" [Ten years until the judgement?]
Frankfurter Allgemeine Zeitung dated 21 September 2016, No. 221, p. 18 (in cooperation with Silvanne Helle)
"Haftung des Direktors einer Limited gem. § 64 Satz 1 GmbHG" [Liability of the Director of a Limited pursuant to Sec. 64 Subsec. 1 German Limited Liability Companies Act]
annotation of the decision of the Federal Court of Justice dated 15 March 2016 (II ZR 119/14), DER BETRIEB, 19 August 2016 (in collaboration with Dr. Nefail Berjasevic)
"Verlängerung des mit der GmbH & Co. KG geschlossenen Geschäftsführervertrages durch Insichgeschäft des Geschäftsführers" [Extension of the Managing Director’s Service Agreement concluded with the GmbH & Co. KG through self-dealing by the Managing Directo
annotation of the decision of the Federal Court of Justice dated 19 April 2016 (II ZR 123/15), DER BETRIEB 2016, p. 1801 (in collaboration with Sarah Scharf)
"Volkswagen – Angriffe an allen Fronten" [Volkswagen – Attacks on all fronts]
Börsen-Zeitung dated 16 April 2016 (in cooperation with Silvanne Helle)
"Haftung des übertragenden Rechtsträgers für Handelsvertreterausgleich trotz Beendigung des Agenturverhältnisses erst nach der Ausgliederung", [Liability of the transferring entity for sales agent's compensation in spite of the termination of the agency a
annotation of the decision of the Federal Court of Justice dated 13 August 2015 (VII ZR 90/14), EWiR 2015, p.693 (in cooperation with Dr. Nefail Berjasevic)
"Organhaftung in der Praxis in engem Rahmen" [Directors‘ liability within narrow bounds]
Börsen-Zeitung dated 28 March 2015
"Generelle Feststellungen zur Art und Weise der Schadensberechnung im KapMuG-Verfahren" [General determination of the method of damage calculation in proceedings under the Capital Markets Model Case Act (KapMuG)]
annotation of the decision of the Federal Court of Justice dated 29 July 2014 (II ZB 1/12), EWiR 2015, p. 241 (in collaboration with Silvanne Helle)
"Haftung des Emittenten gegenüber Aktienerwerber bei Informationspflichtverletzung ("Hirmann") " [Liability of the issuer towards the share purchaser for breach of information duties]
annotation of the decision of the European Court of Justice dated 19 December 2013 (Case C-174/12), EWiR 2014, p. 105
"Die KGaA ist eine komplizierte Allzweckwaffe" [The KGaA is a complicated all-purpose weapon]
FAZ dated 20 November 2013
"Bundesgerichtshof revidiert Rechtsprechung zum Delisting" [Federal Court of Justice revises case law on delisting]
Börsen-Zeitung dated 16 November 2013
"Regelung des Ausgleichs für ein vom herrschenden Unternehmen veranlasstes, nachteiliges Rechtsgeschäft der abhängigen AG bereits im Zustimmungsbeschluss der HV ("HVB/Unicredit")" [Regulation of the compensation for a disadvantageous legal transaction of
annotation of the decision of the Federal Court of Justice dated 26 June 2012 (II ZR 30/11), EWiR 2012, p. 683
"Entwarnung an der Compliance-Front" [All clear on the compliance front]
FAZ dated 17 October 2012
"Europarichter weiten Ad-Hoc-Pflichten aus” [European judges broaden ad hoc obligations]
FAZ dated July 4, 2012
"Verfassungsmäßigkeit des umwandlungsrechtlichen Squeeze Out nach § 62 UmwG" [Constitutionality of squeeze outs pursuant to Sec. 62 German Mergers and Transformations Act]
annotation of Higher Regional Court of Hamburg, decision dated 14 June 2012 (11 AktG 1/12) EWiR, p. 503, 2012
"Risiko GmbH-Recycling" [Risks in re-using limited liability companies]
FINANCE dated April 27, 2012
"Erprobung in der Praxis steht noch aus - Squeeze-outs nun schon ab 90% Beteiligung möglich" [As yet untested in practice – squeeze-outs now already possible as of 90% participation]
Going Public Magazin 2011, p. 34
"Einen Versuch wert - Abfindung zum Börsenkurs möglich" [Worth a try – compensation at exchange rate possible]
FINANCE dated July/August 2011
"Verfassungsmäßigkeit des Squeeze Out bei der Hypo Real Estate zu Gunsten des SoFFin ("HRE")" [Constitutionality of the squeeze-out at Hypo Real Estate to the benefit of the Special Fund for Financial Market Stabilisation (SoFFin) ("HRE")]
annotation of the decision of the Higher Regional Court of Munich dated 28 September 2011 (7 U 711/11), EWiR 2012, p. 23 (in cooperation with Dr. Georg Maier-Reimer)
"Urteil der Woche: Warum Schweizer Notare wieder gefragt sind - Unternehmenskäufe können auch weiterhin wirksam und günstig im Ausland besiegelt werden" [Judgement of week: Why Swiss notaries are back in demand – company purchases can still be effectively
Financial Times Deutschland dated March 22, 2011
"EuGH-Vorlage zur Ad-Hoc-Mitteilung von Zwischenschritten eines kursrelevanten Vorgangs" ("DaimlerAG") [Submission to the ECJ on the ad hoc notification of the interim steps of a price sensitive transaction (“DaimlerAG”)]
Annotation of the decision of the Federal Court of Justice dated 22 November 2010 (II ZB 7/09), EWiR 2011, p. 65 (in cooperation with Dr. Georg Maier-Reimer)
"Die Haftung des Geschäftsführers für Zahlungen an den Gesellschafter – zur Reichweite von § 64 Satz 3 GmbHG" [Managing directors' liability for payments to the shareholders – on the scope of Sec. 64 sentence 3 German Limited Liability Companies Act]
ZInsO 2010, p. 881
"Gesellschafter sollten Einlagen von Cashpools trennen" [Shareholders should keep their capital contributions separate from cashpools]
Financial Times Deutschland dated 18 August 2009
"Zum Notar in die Schweiz" [Off to Switzerland for the notary]
Financial Times Deutschland dated 26 March 2009
"Gericht stärkt Minderheitsaktionäre" [Court strengthens minority shareholders]
Financial Times Deutschland dated 28 October 2008
"Weniger Formalismus bei der GmbH-Einlage" [Less formality for capital contributions into German private limited companies]
FINANCE, issue November 2006
"Keine doppelte Einlagepflicht nach GmbH-Darlehen" [No double contribution obligation because of loan by a German private limited company]
Financial Times Deutschland dated 10 October, 2006
"Das Geld fließt wieder flussaufwärts" [Money’s flowing upstream again]
FINANCE, issue July/August 2006
"Mehr Sicherheit bei der Kapitalerhaltung" [Greater security in the maintenance of statutory capital]
Börsen-Zeitung dated June 14, 2006
"Riskante Zahlungen aus dem Konzern" [Risky payments by group companies]
FAZ dated June 8, 2005
"Die Reform des GmbH-Rechts bleibt wirkungslos" [Reform of the German Law Governing Private Limited Companies Act is still ineffective]
FAZ dated May 4, 2005
Urteilsanmerkung zu BGH II ZR 101/0 [Annotation of the decision of the Federal Court of Justice dated 2 December 2002 (II ZR 101/02)]
Betriebs-Berater 2003, p. 272
"Noch zu früh für einen EU-weiten Kodex" [Still too early for a pan-European Take-over Code]
Börsen-Zeitung dated November 8, 2002