Using our experience in the field of restructuring in a target-oriented way
At starkpartners, our years of experience in the field of restructuring / turnaround have shown that such processes have repetitive factors that cause efficiency and effectiveness to suffer:
Often the processes in restructurings show a lack of transparency by relying on too few assumptions. The complexity of the entire project is not properly assessed and the consultants fail to find a timely, simple and, above all, satisfactory approach for all existing stakeholders. There is only limited balancing of the various interests between the individual stakeholders.
Even at the consultant level, the benefits of communication, collaboration and coordination are rarely realised. The different advisory houses often work little with each other towards the common goal. One argument for the lack of cooperation between consultancies but also between stakeholders lies in a large ego of the actors as well as unofficial plans for the stakeholders’ own interests in the project.
A particular importance for the success of any restructuring project lies in the provision of the necessary financing and resources.
Not only do we have the necessary process-specific skills, but we have consciously improved our IT and organisational skills, above all to increase the speed of decision-making in the process. Economic and technological issues are at the forefront and are embedded in the existing framework of legal regulations. We are aware that restructuring processes are often not only complicated, but above all complex, and we have the necessary cognitive skills for this. With us, you have a partner who has mastered the art of successful restructuring / reorganisation by putting together the necessary transformation from a few easily comprehensible elements.
Range of services restructuring & reorganization / crisis management
starkpartners is excellently positioned with its range of services, i.e. the preparation of IDW S6 restructuring concepts, capital service capability according to KWG, legal advice from our partners and implementation as a full-service provider. We are ideally positioned to bring about realistic and sustainable solutions with all parties involved, even in difficult situations. The prerequisites for this are the creation of a viable communication platform, the restoration of trust between the parties involved, a well-founded and objective business analysis, a positive continuation prognosis and an implementable restructuring concept. The success of these efforts is usually under enormous time pressure, since the scope for action becomes smaller and smaller with increasing crisis intensity and the insolvency law liability risks for the parties involved become ever greater. Here, professional advice and support from a “neutral”, unencumbered moderator, mediator but also designer is absolutely necessary from the very beginning, before fronts and positions harden and porcelain is unnecessarily smashed. Thanks to many years of experience, starkpartners has developed into a renowned partner for restructuring, reorganization and crisis management.
Out-of-court restructuring becomes the central management issue in a corporate crisis. With the model of the crisis cycle, business management also provides an explanatory approach that enables an individual assessment of the current situation. However, this approach does not correspond to the definition of crisis under insolvency law. From the point of view of insolvency law, only the facts of (threatened) insolvency (§17, §18 InsO) and over-indebtedness (§19 InsO) are relevant. Both can already be present in a late phase of the crisis (earnings and liquidity crisis). However, these facts do not necessarily have to be – and they concretize the threat situation. The timely involvement of specialists who are familiar with all aspects of restructuring is an important, often even decisive prerequisite for the successful realization of the restructuring objectives. The core tasks include the preparation and conduct of creditor negotiations and the conclusion of reorganisation agreements with all parties involved, with the aim of short-term crisis resolution and medium-term restructuring.