Horten recruits one of Denmark’s most experienced insolvency lawyers to restore trust in the department, which has recently been the subject of significant negative media coverage due to a former partner’s statements in the TV2 documentary series, “The Black Swan”.
Troels Tuxen will join Horten as soon as possible once he is released from his current obligations. As new head of Insolvency at Horten’s headquarters in Hellerup, Troels Tuxen will be responsible for setting the direction for the department, ensuring that its culture aligns with Horten values, and that any issues that are legitimately criticised as part of the ongoing investigations are dealt with effectively.
Troels Tuxen will help establish a foundation for new business in the area by ensuring that the management of the department exemplifies responsibility and relevance at the highest professional level in Denmark. Additionally, the department's profile will be tailored primarily to serve large financial institutions in Denmark.
“We now need to rebuild trust in Horten’s insolvency practice in Hellerup, and we are therefore delighted that an insolvency lawyer as experienced as Troels Tuxen will take on the task of rethinking the management of the department. It requires fresh perspective, and hence it is a strength that Troels comes from the outside with many years' experience in the area. Troels has the full support of the partner group and management to implement any changes he deems necessary, and in relation to the future department profile, we agree that it must be focused on responsible collaboration with major financial operators,” says COO Anders Bager Jensen.
Troels Tuxen is looking forward to getting started and emphasises his respect for the task:
"I am looking forward to being part of Horten and getting to know my new colleagues. At the same time, I respect the fact that Horten has an extensive task ahead of it. Society has a legitimate expectation that we, as lawyers, are the guarantors of compliance with the law. The administration of bankruptcy estates has come under significant scrutiny, and there should be no doubt about which side we are on as lawyers and trustees. I hope that I with my many years of experience and expertise can contribute to restoring trust in Horten’s Insolvency department and Horten in general. It is a position I am looking forward to taking on as soon as I'm released from my current partnership with Bech-Bruun where I will continue to fulfil my duties until then,” says Troels Tuxen.
Background
Horten has clearly and unequivocally condemned the statements made by a former Horten partner in the TV2 documentary series, “The Black Swan”. Consequently, Horten has initiated an external investigation, which is expected to be finalised in August. To ensure an undisturbed work process, Horten will not make public the name of the external investigator or details about the mandate until the results of the investigation can be published.
Troels Tuxen in brief
Troels Tuxen has more than 20 years' experience when it comes to advising Danish and international clients on insolvency and reconstruction. He has served as trustee for large and small companies and as a liquidator in cases of reconstruction, suspension of payments and creditor arrangements. Troels Tuxen comes from a position as partner with Bech-Bruun where he has for many years also headed the Restructuring & Insolvency department and joins Horten as partner and head of the Insolvency department in Hellerup as soon as possible when he is released from his current position.