Before and after petitioning for insolvency things are quite frantic. Uncertainty runs high among those responsible and stakeholders. On the one hand, all energies are directed toward stabilising operations to preserve the highest value. On the other hand, but for the same reason, distasteful business decisions must be made, also to safeguard creditor claims. The (provisional) insolvency administrator must act intelligently and quickly. In such precarious situations, we bolster your insolvency administrator conceptionally and operatively throughout the daily insolvency business.
We gladly assume specific insolvency tasks (i.e. ordering process), acting where it serves you best – either integrated within the organisation or as liaison/intermediary between insolvency administrator, company and external stakeholders (customers, suppliers, investors, etc.). As imperturbable specialists in precarious and insolvency plights, we offer a broad spectrum of specific insolvency expertise with profound methodology knowledge and management competence. Additionally, we assist prominent chancelleries in steering and executing insolvency proceedings, assuming operative positions and seeing to assets optimisation:
A quick check is actually a short analysis, an immediate rendering of your company’s strengths and weaknesses as well as, and in particular, of the key business development risks. A quick check is also an excellent way to sift your company’s major turnaround potential, bringing to light options for courses of action.
Insolvency situations demand that a company’s continuation capacity is established at the onset. Therefore, the Insolvency Statute’s (section 19 German Insolvency Statute (InsO)) continued existence forecast or going concern forecast is the basis for judging a company’s over-indebtedness. A company is judged not over-indebted when circumstances predominantly point to its probable continuation.
As time is of the essence, our quick check concentrates on essential issues which measure your company’s continuation potential:
- Exposing crisis origin and crisis status
- Generating the current financial status and a short-term liquidity preview
- Overview of the current economic relationships between profits, assets and finances
- Marketability and competitiveness
- Defining initial options for measures and courses of action and inspecting their feasibility
- This initial, rapid analysis contributes decisive parameters for determining if and how your company can continue to exist or what is necessary for recovery during (temporary) proceedings.
Drawing from the quick check analysis of continuation ability and of the Insolvency Statute’s continuation or continued existence forecast, we create an integrated business plan (income, liquidity and balance planning) with the added function of a continuation plan. This continuation plan fulfils the following aspects of temporary or ongoing proceedings:
We also lend our professionalism to the insolvency administrator by supporting operative liquidity management. A cardinal rule of insolvency is to know the current liquidity status inside and out and to clearly foresee the possible consequences of actions. We are well-versed in insolvency administrators’ needs, taking on liquidity controlling in close collaboration.