Dr. Kerstin Wilhelm

Kerstin is a highly accomplished litigation and investigations practitioner and co-head of the German Crisis Management & Compliance group. She has specialised experience in internal and government investigations, both domestic and cross-border, in the field of white-collar crime including corporate criminal liability as well as in compliance matters. Kerstin has advised a wide range of financial and corporate clients on EU sanctions risks focusing on Russia related sanctions, but her advice also extends to the EU Blocking Regulation and sanctions screening processes.

During a secondment to the investigations in-house team of a large international U.S.-based technology company, she gained additional experience in conducting internal investigations into sensitive matters in a number of jurisdictions.

Kerstin also has extensive experience in advising on dawn raids, as well as in complex civil litigation proceedings with a focus on banking and capital markets litigation, in particular mass litigation, often involving cases that are high-value, reputation-threatening and multijurisdictional.

She was recently awarded “Name of the next Generation” by Legal 500 (Legal 500 Germany, 2023, Internal Investigations).

Work highlights  

• Volkswagen AG: providing sanctions advice to Volkswagen Group in connection with the sale of its shares in Volkswagen Group Rus LLC including its local subsidiaries to a local investor.
• Numerous financial institutions and corporates: advising on all aspects of EU sanctions law including applying for authorizations and navigating the ever-changing sanctions landscape working with colleagues in the US and the UK on cross border sanctions cases.

• An international IT company: advising on an internal investigation regarding allegations of corruption, embezzlement and tax evasion covering Germany, the United States, Russia and various other European jurisdictions as well as representation of the company in the criminal investigation proceedings in Germany and coordination with proceedings before the U.S. Department of Justice.
• A leading global manufacturer of electronic equipment: advising on an internal investigation in the context of allegations of tax evasion, representing the company vis-à-vis the prosecution office and tax authorities and coordination of multiple individual defence attorneys.
• An automotive supplier: advising and representing the company in criminal investigation proceedings in the context of allegations of criminal law violations in relation to so-called “defeat devices” for diesel engines.
• A German stock corporation: advising on an extensive internal investigation in the context of allegations of insider trading against the former chairman of the board as well as representation of the company in the criminal investigation proceedings.
• An internationally operating manufacturing company: advising in connection with allegations of bribery abroad including conducting an internal investigation, advising on matters of tax law, and advising and representing the company in a proceeding before the U.S. Department of Justice.
• The insolvency administrator of an international investment bank: advising on investigation proceedings by the German public prosecutor in connection with alleged cum/ex transactions including representation and corporate defence vis-à-vis the authorities.
• Thyssenkrupp AG: Advice in relation to the IPO of the hydrogen subsidiary thyssenkrupp nucera.
• Numerous national and international companies: advising on compliance risk assessments and compliance policies including training of staff.
• Steinhoff International Holdings N.V.: advising on numerous shareholder claims following the announcement of accounting irregularities including representation of the company in a KapMuG procedure.
• Barclays Bank PLC: advising and representing in a series of several hundred of claims in Germany in connection with hedge fund-linked notes, including a German class action (KapMuG procedure) and proceedings before the German Supreme Court, as well as the coordination of parallel proceedings in Austria. 

Citations & Rankings 

She was recently awarded “Name of the next Generation” by Legal 500 (Legal 500 Germany, 2023, Internal Investigations).

Kerstin joined Linklaters in 2010 and was elected Partner in 2019.

She is a member of the Wirtschaftsstrafrechtliche Vereinigung e.V. (WisteV), the working group on criminal law of the German Institute for Compliance (DICO e.V.) and of the Women’s White Collar Defense Association (WWCDA) Germany chapter.

She frequently speaks at seminars and conferences and publishes in the field of compliance, business crime and sanctions.

Kerstin studied law at the University of Trier and obtained a degree in French law as part of a two-year international legal studies programme. After her studies, she completed a doctorate in law at the University of Trier and spent her legal traineeship (Referendariat) in Darmstadt, Frankfurt and London. Kerstin is admitted to the German bar and was also admitted as Solicitor (England and Wales) in 2013.

She speaks German, English and French.

Kerstin frequently publishes in German and international legal journals and handbooks in the field of compliance, white-collar crime and sanctions. Her recent publications include:

• Risikobereich und Haftung: Geldbußen gegen das Unternehmen, in: Krieger/Schneider, Handbuch Managerhaftung, 4th ed. 2023, § 35, (together with Professor Dr Hans-Ulrich Wilsing)
• Market Intelligence - Crisis Management 2023, Lexology, chapter on Germany
• Aktuelle EU-Sanktionen gegen Russland und ihre Auswirkungen auf Investmentfonds, in: RdF 2022, S. 260-267
• View: Is Brussels taking dirty money seriously?, in Financial News, 22 July 2021 (together with Dr Andreas Dehio)
• Die neue „Pflicht zur Bezichtigung des eigenen Arbeitgebers“? – Ein Diskurs zu § 59 GWB n. F. und sich ergebenden Rechtsfragen, CCZ 2021, 139 (together with Christoph Barth)
• Q&A: Coordinating cross-border investigations in 2021, Financier Worldwide, February 2021, p. 42 et seq. (panel contribution)

• Impact of COVID-19 and U.S. election on business crime and cross-border investigations, Thomson Reuters Regulatory Intelligence, December 2020 (together with Adam Lurie, Doug Davison, Sean Solomon and Jane Larner)

• Herausforderungen und Chancen für Unternehmen, Berater-Magazin Verbandssanktionengesetz, 12/2020, p. 5
• Cross-jurisdictional communication: how to handle challenges posed by enforcement authorities' different approaches, Thomson Reuters Regulatory Intelligence, November 2020 (together with Adam Lurie and Jane Larner
• Increasing cross-jurisdictional communication between law enforcers and global nature of corporate accountability, Thomson Reuters Regulatory Intelligence, November 2020 (together with Adam Lurie and Jane Larner)

• The Act on Sanctions for Associations (Verbandssanktionengesetz) – Proposed Changes to the Current Regime of Corporate Criminal Liability in Germany, Journal of International Banking Law and Regulation, Volume 35, Issue 10, 428 (together with Dr Christian Schmitt)

• Verbandssanktionengesetz – Wohin geht die Reise? Der Platow Brief, 76/2020, S. 8 
• Gesetz zur Stärkung der Integrität in der Wirtschaft - RefE will Unternehmen härter sanktionieren, DB 19/2020, M4 
• Ermittlungen im Konzern aus Sicht der Verteidigung, in: Minkoff/Sahan/Wittig, Konzernstrafrecht, Handbuch für die Unternehmens- und Anwaltspraxis, 1st ed. 2020 (together with Robert Henrici) 
• RefE eines Verbandssanktionengesetzes - Unternehmensstrafrecht ante portas? DB 40/2019, M4

• WuB-Anmerkung zu BGH, Urteil vom 26.07.2018 – I ZR 274/16 - – Zur Frage der Voraussetzungen betreffend die Zulässigkeit der auf Ausgleich eines Vermögensschadens gerichteten Feststellungsklage, WuB 2019, 38

Kerstin is a regular speaker at external compliance-focused conferences both in Germany and abroad.