Restructuring - back on the road to success

With the help of our brief analysis, the so-called "Independent Business Review" (IBR), we obtain an overview of the situation of your company in terms of strategy, operations, and finances. The core component of the IBR is the plausibility check of the company's key figures together with the submitted budgeted accounts. We have the necessary methodological and specialist knowledge to create short-term and reliable transparency for all those involved. To this end 

• we verify the submitted planning data for consistency 
• we review the planning assumptions using historical data, market data, benchmarks, and planned measures 
• we assess the existing planning methodology and tools. 

With our integrated planning system LucaNet, we are able to build efficiently integrated planning models and map different scenarios. 

The evaluation of the service portfolio, the core processes, and the cost structures within the framework of an IBR provide valuable starting points for securing results and liquidity. 

In special situations, it may be necessary to check solvency and debt status in order to exclude possible obligations to file an application. The primary goal is to protect you in your function as a corporate body from legal liability or contestation risks and to provide stakeholders with a robust framework for further action. 

We support you in the assessment of solvency and over-indebtedness, usually in accordance with the IDW S 11 standard. In doing so, we review the liquidity situation on the reporting date in a 3-week and 13-week plan. If necessary, we extend the period under review to up to 24 months within the framework of integrated corporate planning and jointly define measures to close any financing gap. If necessary, we will assist you in assessing the formal rights and obligations, also with the involvement of a lawyer specializing in insolvency law. 

If a company gets into financial difficulties and restructuring becomes necessary, a restructuring concept forms the formal basis for decisions by the financing partners. It also serves to protect the management, supervisory boards, suppliers, credit insurers and other stakeholders from the risks of avoidance and liability. 

In order to assess the ability of a company to be restructured, we, as an independent management consultancy, draw up restructuring concepts and expert reports in accordance with the highest court rulings, taking into account the IDW S6 standard. In addition to the ability to continue as a going concern, we assess the competitiveness of our clients. This is based on a plausibility check of the company's key figures, interviews and workshops with the management as well as market analyses and benchmarks. 

In accordance with the requirements of the IDW S6, we prepare an integrated plan calculation including detailed planning at the monthly level, per company and consolidated for a group of companies. Also included is a detailed program of measures as a basis for successful implementation. Our restructuring concepts are characterized by a convincing, strategic approach, practice-oriented packages of measures and a realistic integrated plan calculation. 

As operational restructuring specialists, our preference is always for solutions outside of court proceedings. However, if a liquidity crisis is far advanced or legal restrictions stand in the way of an out-of-court solution, we can examine options within the framework of court proceedings and accompany the restructuring operationally - also using protective shield/own administration concepts or the pre-insolvency restructuring framework.

Option analyses
We assess whether insolvency-related proceedings can be considered for your company or whether they could be advantageous. Using a so-called insolvency quick check, we simulate a possible outcome of the proceedings (including creditor ratios and an assessment of an insolvency plan) and compare this with out-of-court restructuring. We include protective shield proceedings, self-administration and the possibilities of the Stabilization and Restructuring Act (StaRUG). This provides you as a managing director or shareholder with all the information you need to make decisions, including quantitative earnings, liquidity, and equity ratios. 

Certificates according to § 270a-g InsO and support in opening proceedings
In the event of impending insolvency, the so-called protective shield procedure in particular is a sensible procedural variant with well-founded advantages over standard insolvency. For this purpose, bachert&partner prepares a certificate in accordance with § 270b InsO, which meets the formal requirements of the parties involved and the courts. The trusting interaction between the managing director, the insolvency-experienced self-administrator, the administrator and the creditors' committee ensure a procedure without debt collection. 

Commercial procederal support (reporting, liquidity planning) 
bachert&partner accompanies the self-administration in all commercial issues, in particular in the context of weekly-based reporting and liquidity planning, taking into account the contents specific to the proceedings. This includes both the rolling evaluation and control of the expected division mass for the creditors as well as the existing rights of separation/separation with regard to securing the interests of the creditors. Other activities include providing regular status information to banks and the creditors' committee, designing and initiating the necessary operational restructuring measures, and negotiating with customers, suppliers and employees. 

Preparation of insolvency plan concepts
In contrast to the transferred restructuring within the framework of an asset deal, the insolvency plan aims to maintain the company in its existing constellation. For this purpose, a so-called insolvency plan must be submitted to the court after the opening of the proceedings and brought to a vote in the creditors' meeting. As a rule, the legal part of the insolvency plan is drawn up by the authorized representative. On the basis of its restructuring and planning expertise, bachert&partner can quickly and reliably draw up the necessary business management part, among other things: 

• Preparation of the so-called plan justification calculation (comparison of the restructuring alternatives from the creditor's point of view) 
• Evaluation of possible segregation and separation rights 
• Preparation of the restructuring approach (mission statement, program of measures) 
• Integrated planning including program of measures and effects of termination of proceedings 
• Forecast of the continued existence of the restructured company after the termination of insolvency proceedings 

Purchase/liquidity management
A central element of every insolvency procedure is a release process for orders and payments that is coordinated with all controlling bodies. We support you in this with an audit-proof process and database tools set up specifically for this purpose. The orders and payments are checked operationally, coordinated with own and property management and administered via a central database with interface solutions also for liquidity planning.

You do not have to be solely responsible for the operational implementation of the agreed measures. To ensure sustainable success, we take over the Project Management Office (PMO) with a clear meeting and reporting structure, if required. We introduce metrics that help you to reliably prove and document the success of your implementation. In complex restructurings, we use proven action management tools such as Falcon or inAir.  

On request, we can arrange or provide interim managers for the strategic realignment of your company or in the management of individual departments. Our experts have many years of industrial experience - corresponding references and extensive competencies in commercial management, purchasing, logistics, production and service are available.