Business restructuring

Stay in balance.
Keep control.

It is not always easy to stay in balance. Particularly when you have ambitious targets to meet. The key is to keep track of all of the relevant factors and build appropriate scenarios for the future.

Schultze & Braun draws up business continuation forecasts, prepares restructuring reports to standard IDW S6 of the Institut der Wirtschaftsprüfer in Deutschland, and determines whether grounds for an insolvency application exist. In this area of restructuring and consultancy, we also support businesses through protective shield proceedings in accordance with section 270b of the German Insolvency Code. From day one, an interdisciplinary team comprising consultants, lawyers, auditors and tax advisers works in close collaboration to achieve the best possible outcome for our clients.

Preparation of restructuring reports to IDW S6

What requirements apply when preparing restructuring reports?

Schultze & Braun has extensive experience in the preparation of restructuring reports in accordance with the IDW S6 standard published by the Institut der Wirtschaftsprüfer in Deutschland. Of course, these reports also take account of the latest rulings of the courts.

Our services:

  • Comprehensive analysis of the causes of financial distress
  • Development of restructuring strategies appropriate for the stage of financial distress that the company is experiencing
  • Determination of financing requirements based on an integrated restructuring planning exercise
  • Legal certainty for the parties involved in the restructuring process

Erstellung von Restrukturierungsplänen (StaRUG)

Wann und wo können die neuen Instrumente nach dem StaRUG  hilfreich sein?

Durch den interdisziplinären Ansatz von Schultze & Braun, der betriebswirtschaftliche und rechtliche Beratung aus einer Hand bietet, können wir die Möglichkeiten des neuen präventiven Restrukturierungsrahmens optimal nutzen.

Unsere Leistungen:

  • Aufzeigen zusätzlicher Sanierungs- und Verhandlungsoptionen auf Basis des StaRUG
  • Konzeption und Erstellung von Restrukturierungsplänen mit Anlagen
  • Erstellung der notwendigen Vergleichsrechnungen
  • Operative Sanierung und Begleitung des Prozesses „aus einer Hand“

Review of grounds for application for insolvency

How can legal certainty be ensured for a company’s management team?

Under the German Insolvency Code (Insolvenzordnung), companies limited by shares and partnerships equivalent to these must file for insolvency is they are illiquid or overindebted. Schultze & Braun analyses whether a company is illiquid or overindebted in accordance with recognised professional standards. A business continuation forecast (forecast determining whether continuation of operations is substantially likely) covering at least the current and following financial year is usually produced at this stage.

Our integrated planning tool – which has been tried and tested over many years and links revenue, liquidity and balance sheet planning – enables us to determine the company’s precise financing requirements. This also enables us to make balance sheet forecasts – concerning changes in equity capital and liabilities, for example.

Controlling and financial plans

How can transparency for all parties to self-administration and standard insolvency proceedings be ensured so that they can respond to developments rapidly?

Schultze & Braun achieves precisely this by monitoring proceedings on an ongoing basis and checking on cash management at frequent intervals.

How is the restructuring process progressing? Acting as a neutral third party, we support and monitor the restructuring process on behalf of lenders and investors in particular. Using specially developed tools, we report regularly to our clients on the development of the target company and compliance with restructuring measures.

Comparative analyses and indicative insolvency scenarios

What support is provided for decision-making and negotiation processes during insolvency proceedings?

Schultze & Braun draws up indicative insolvency scenarios for this purpose. This allows us to estimate satisfaction of claims for the individual groups of creditors (secured, unsecured, subordinated, etc.). And, for clients seeking a non-judicial solution, an insolvency scenario or a “plan B” may be the key to successful restructuring.

Here, our clients benefit from the extensive experience – in areas such as estimation of procedural costs and indication of insolvency-specific liabilities such as social compensation plans and insolvency pay – drawn from the numerous insolvency proceedings successfully handled across the Schultze & Braun group.

Contacts restructuring - business

Dr Eberhard Braun
+49 7841 708-211

Guido Koch
+49 7841 708-260