What is an IDW S11 report? With an expert opinion according to IDW S11, you can have the crisis stage of your company proven. In particular, you receive a statement on the existence of reasons for opening insolvency proceedings, i.e. insolvency, imminent insolvency and calculated over-indebtedness. The basis for an expert opinion according to IDW …
Turnaround consultants have gained a lot of experience with turnaround projects. They will know your day-to-day business well, but will not necessarily be experienced in corporate restructuring. To complement your management team, be sure to involve an experienced and as early as possible. To make a good selection, you need to know the .
If restructuring capital is made available on the basis of a restructuring report with a positive going concern forecast, the turnaround can begin. Do not underestimate the restructuring task. Particularly in a tense crisis situation, your management team’s view of the key levers of a turnaround may be obscured. Experience shows that their performance will …
What skills does a restructuring consultant need to have? Make sure that the restructuring consultant is really a recognized implementer and not “just” a good analyst. It should also be noted that a turnaround project consists of different phases. In the first phase, immediate measures that affect liquidity and earnings must be initiated in the …
What does a reduction in staff mean? Personnel costs account for a significant proportion of total costs in many companies. When the volume of business is reduced, staff is often no longer fully utilised, while personnel costs remain at their full level. If it becomes apparent that utilisation will remain permanently lower, a reduction in …
It is always possible to reach individual agreements with employees when staffing levels need to be reduced. Targeted individual agreements can reduce the workforce in a socially responsible manner. First approach employees in years close to retirement age about an option to terminate employment early and pay compensation to unemployment benefits until retirement age. Then …
You can reduce your workforce in a targeted manner through individual terminations of employment contracts. Terminations are only possible for two reasons, behavioral or operational. Both options require that certain conditions be met. When terminating employment contracts, you can make many formal mistakes that render your terminations ineffective and leave “scorched earth” behind. To avoid …
Operational realignments, downsizing or relocation of parts of a business, mergers, splits and closures are operational changes under labor law. Fundamental changes in the company’s organization, processes or the equipment used are also changes in operations which may suggest or even necessitate personnel changes. In the case of operational changes, in many countries, under certain …
If you own real estate and/or machinery the use of which is essential for your business and market value of which is higher than the value of any loan or collateralization, you can sell and lease back these assets in agreement with the lending or collateralized credit institution. The difference between the loan or collateralization …
If you need new equipment for the growth of your business or as a replacement investment, you can also make it available through an instalment plan via so-called “asset-based finance”. The finance partner becomes the legal owner, but you become the economic owner and can depreciate the assets. This is a significant advantage over leasing. …
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