Our goal is to ensure the survival of the company. For this reason we examine the performance and business finance procedures of a company in crisis thoroughly and exactly. Right from the start, one of our particular distinguishing features is the combinations of various disciplines within our company. We keep regular contact with all stakeholders to stabilize the financial situation of the company and act ambitiously and decisively. At the same time, we delve into the internal processes, deal with the company and the entire market value, work out sustainable concepts and follow them through to realization.
We have been successful in bringing about the operational continuation of numerous companies faced with insolvency proceedings, including some very large organizations with revenues in the billions of Euros. Among these, during the last four years alone, were four proceedings with several thousands of employees, each company with a turnover in the billions and with strong international reference. We deal with company operational continuations with up to 20 of our own staff. As a result of their cooperation in these proceedings, our employees are experienced teamplayers. Various areas of expertise are covered by our own employees which is made possible by the multiple strengths of our professionals, ranging from labour law to insolvency fund and from insolvency accounting through the entire range of litigation. We put particular emphasis on business expertise. We have benefited from counselling large organizations in auditing and transfer this valuable experience. For this reason also, our insolvency administration is efficient and target oriented.
In view of our large real net output ratio, we can (but needn’t necessarily!) carry out all duties connected with processing insolvency proceedings or protective screen proceedings. As a result of our orientation as chartered accountants, we are extensively trained in business and enjoy running companies. Every staff position is run by experienced and longstanding proven teams, ranging from labour law to forced administration law. This reduces complexity and friction losses. Nevertheless, we will also integrate into established teams and contract only partial assignments if so required by the stakeholders.
The changes that have been introduced by the law “German Act Relating to the Further Facilitation of the Reorganization of Companies (ESUG)” are implemented by us with conviction. We have carried out numerous protective screen proceedings successfully. In the process, we position ourselves distinctly as trustee and consider ourselves constructive consultants of the company and inspectors on behalf of the creditors. We are focussed on the restructuring of the company at all times. In order to accomplish this, it is necessary to have understanding for the company in crisis, as well as the affected shareholders, the management and the creditors. In addition, capacity and experience are necessary. However we only accept projects which guarantee respectable dealings with all parties working in full transparency. In these cases complexities are an incentive and not an obstacle.
We see ourselves as the ideal choice for the role of entrepreneurial trustee and as acting partner of the respective management consulting or functioning body. We do not give legal advice prior to insolvency proceedings and it is our conscious decision not to fill the CRO position ourselves. Using our own teams, we form a complete consultancy package, which is unique in Germany, thereby saving our clients the external purchase of expensive expertise.
For us, insolvency administration means first of all service – for the creditors, for the insolvency court and for the company. We want to achieve high levels of satisfaction with the stakeholders involved and therefore we invest in the capacity of our company. Our staff manage the proceedings both in regards to quantity and to the single specializations. Operational company continuations can be organized by our professionals, creditors’ requests answered promptly and legal disputes dealt with constructively and without delay. From the petition for commencement to the final report, the entire processing of proceedings is stringently organized and constantly controlled.