Reorganization and restructuring consulting
If strategic crises are not detected in time, the consequences are often far-reaching – from a short-term failure to achieve results and profitability targets through a permanent reduction in financial performance. Such situations require swift adjustment of priorities and the introduction of appropriate measures.
Our range of services
We avail of a multidisciplinary team of restructuring specialists comprising auditors, tax advisors and attorneys-at-law experienced in collaborating with and advising business leaders, financial institutes, turnaround and venture capital experts who support you in operative and strategic restructuring during crisis situations. Furthermore, we also support you in drawing up, implementing and analyzing reorganization concepts as well as the sale of companies and divisions during crises and insolvency proceedings.
Reorganization concepts according to IDW S6 are increasingly being demanded by stakeholders in companies which are insolvent or susceptible to crises as a condition for continuing business relations. It is therefore essential to understand the company right down to the very last detail in order to assess, supplement and validate comprehensive reorganization concepts.
Our range of services
By examining and analyzing various companies of various sizes and in various sectors, our multidisciplinary team can rely on extensive experience as well as many case studies when developing or examining detailed and validated reorganization concepts.
Background
Companies susceptible to crises require a good overview of value added and the liquidity situation as a basis for decisions and for deriving financial requirements over the short and medium term.We support your company in developing continuation strategies, determining the asset status or drawing up business plans in order to obtain a clearer idea of possible future scenarios. In the event of insolvency, we can handle insolvency planning as well as offering operative support in the areas of controlling and liquidity management. In order to safeguard implementation of core measures, our support also includes tracking measures and ongoing monitoring of the process.
Our range of services
Specifically, we offer you the following services in particular:
- Certification in a protective screen process according to section 270b InsO
- Development and validation of liquidity plans
- Cash audit
- Examination of final accounts
Certification in a protective shield process
In the event of imminent illiquidity or over-indebtedness a company may apply for protective shield proceedings pursuant to § 270b InsO, during which the company is managed by its regular management under the supervision of a so-called trustee with a view to draw up an insolvency plan for the restructuring of the company. Protective shield proceedings may not last for more than three months. Together with the application, the company needs to provide a certification by an insolvency expert outlining that the company is over-indebted or imminently illiquid but not already illiquid and that the envisaged restructuring does not manifestly lack the prospect of success.
We avail of a multidisciplinary team of auditors, tax advisors and attorneys-at-law experienced in insolvency matters who have already drawn up numerous such certifications leading to the initiation of the protective screen process.
Development and validation of liquidity plans
In corporate crises and insolvencies, sound and detailed liquidity planning is one of the most important steering instruments in preventing culpable delays of insolvency applications which may be necessary and in order to initiate measures to relieve and improve liquidity at an early stage with the aim of extending the scope for manoeuver by management and safeguarding continuation of the company.
A comprehensive analysis of the company’s value drivers and current financial situation enables our experts to consider various scenarios and sensitivities in developing sound short- and medium-term liquidity plans which take adequate consideration of risks and identify future capital requirements as accurately as possible.
Cash audit
During insolvency proceedings, the members of creditors’ committees have the task of examining monetary transactions and monetary holdings. Audits often lead to significant involvement by members of the creditors’ committee in terms of time and personnel.
We can carry out efficient cash audits using our risk-oriented audit approach. We supply the creditors’ committee with a detailed audit report providing a comprehensive and transparent overview of the insolvency administrator's work.
Examination of final accounts
Within the framework of examination of the final account, we examine the formal and material integrity of the insolvency administration. Our risk-oriented audit approach permits efficient and professional auditing. Our audit for the insolvency court offers a transparent and comprehensive overview of financial reporting by the administrator and the results of our audit.
The aim of the insolvency proceedings is to obtain the best possible settlement of claims by creditors by utilizing the debtor’s assets and distributing the proceeds or using an insolvency plan to make other arrangements. The success of attempts at reorganization or other handling of the procedure is decisively dependent on increasing the insolvency assets during the insolvency proceedings. In this context, determining the actual timing of grounds for insolvency is of decisive importance for insolvency administrators.
Our range of services
Within the framework of the audit, we determine the timing of the situation leading to filing an application to initiate insolvency proceedings and examine whether managing directors have made payments to individual company creditors following initiation of grounds for insolvency, thereby reducing the company's assets. By using modern software, a detailed analysis is possible which also delivers retroactive information on the timing of illiquidity or over-indebtedness. We then record our conclusions and conclusive audit results in a final report for you.