Depending on the individual case, business management, accounting, legal and tax issues are dealt with by the respective project team. If necessary, further experts from our network will complement the project team.
The interdisciplinary composition of the project team represents an important advantage for the client: the processing times are shortened by the direct communication of the experts.
The following services can be called up by the client in whole or in part:
The management of a company is obliged to check the existence of over-indebtedness and/or insolvency in case of recognizable crisis situations.
For various reasons, it is advisable for the management to assign this task to competent experts:
- Limitation of own liability
- Objectification of the results
- possibly lack of knowledge of insolvency law
- Relief of management capacities in favor of other tasks.
The vast majority of large and medium-sized companies are bank-financed. This means that banks often play a deciding role in a restructuring process.
However, the regulations of the financial institutions require the existence and examination of a restructuring concept, or at least a continuation prognosis, for the further financial support of crisis companies and credit decisions in this context.
A viable restructuring concept for the financial institutions must satisfy many formalities. The commissioning of bdp ensures exactly that.
The support of bdp in negotiations over the course of a restructuring provides many advantages:
Often the creditors' trust in the company's management has already been tarnished. bdp has a compensatory effect here, can bring conflicts back to an objectivized level and develop compromise solutions.
The company's management is relieved. bdp professionally prepares negotiation rounds, moderates them and prepares the negotiation results. Individual negotiations can then be conducted by bdp alone after consultation with the management.
In the process of restructuring, the informational needs of creditors, employees and possibly also shareholders increase significantly. Shortened reporting periods, more detailed reports and queries about them are frequently observed. This often ties up capacities in management and at least also in the financial sector in the phase of drawing up a restructuring concept, i.e. at the point in time when a considerable additional burden is already incurred.
bdp puts the various information requirements into a standardized form so that only one report is created instead of many. This report is then prepared by bdp and distributed to the respective addressees. Queries are then sent exclusively to bdp. In many cases, questions can already be answered by bdp. The result is a noticeable relief for the management.
A successful restructuring requires one thing above all: the rapid and consistent implementation of the measures adopted.
bdp is able to take over project management and controlling of measures as well as direct responsibility for implementation. This can take place in various forms:
- Moderation of meetings to report on the status of implementation
- Assuming the function of CRO (Chief Restriction Officer) with corresponding responsibility for implementation
- Assumption of line or management functions
In the restructuring of companies, insolvency law issues become more important if the restructuring is started very late, unforeseen events affect the restructuring or the proposed measures are not supported by all parties involved in the process.
In such cases, periodic or event-related checks for the existence of reasons for filing for insolvency are indispensable.
In the event that restructuring fails, the management of a corporation must immediately file for insolvency. However, restructuring in insolvency is made very difficult if the company is unprepared.
The possibilities offered by the ESUG should be incorporated into this preparation. It should be investigated,
- whether self-administration can promote the reorganization
- whether, if necessary, protective shielding proceedings can be initiated in connection with an insolvency plan that ties in with the existing restructuring concept
- whether a creditors' committee can or must be established
- special requirements must be made of an insolvency administrator (e.g. experience in the sector, preparation of insolvency plans, etc.)
- whether the jurisdiction of another insolvency court is more advantageous (for corporate groups or groups of companies)
bdp has a wide range of experience and offers competent advice on these issues, support in the preparation of the insolvency application and the necessary prerequisites for the special case of self-administration.