Setting legally compliant and realistic directions for turnarounds
In the fast-paced business world of today, liquidity shortages are reality even to economically strong enterprises. In order to eliminate such shortages quickly and expediently, banks, investors and/or creditors require a reliable convincing concept.
Especially credit institutions request restructuring reports, which are in accordance with various relevant requirements of the Federal Supreme Court of Justice (BGH) as well as the so-called IDW (Institute of Public Auditors in Germany) standard S6. Achieving a successful turnaround is more likely if companies are able to create a corresponding report, present the key takeaways in convincing manner, and implement the outcome afterwards.
Nowadays, such restructuring reports have to consider different aspects of Federal Supreme Court jurisdiction. Requirements set by the “Restructuring and Insolvency Committee” (FAS) aim at ensuring that a company’s designated turnaround can be implemented economically and legally feasible.
Standard S6, which is valid today, is not comparable to its rather vague predecessors from the 1990s - requirements for affected companies and their advisors became more complex.
Thanks to long-standing expertise in consulting various industries, PJSC will support you in preparing a restructuring plan according to IDW S6 standard. By focusing on the essentials, we will help to quickly determine the status quo, to consider legal implications and to implement necessary realignment measures.