High time to have a personal conversation with each other. We recommend ourselves as the most experienced restructuring and turnaround consultancy in Germany, which has an excellent reputation as an independent expert among financiers, lawyers and potential investors. Our success rate: 95% of our clients' liquidity needs were met with our help. Talk to us, we know what to do. But first, we recommend our IDW S6/BGH guide for better orientation.
A restructuring report should show your financing partners whether and how your company can survive on the market in the long term – in other words, it is about the competitiveness and profitability of your company. Thus, an expert restructuring report creates the basis for granting loans even in loss-making situations. For your financing partners, the plausible and transparent presentation of your company's future profitability and competitiveness is an indispensable necessity for granting loans in a tense earnings or liquidity situation. A company in crisis will therefore hardly receive any further financing without a restructuring expert opinion from an independent consultant.
The Institut der Wirtschaftsprüfer e.V. (Institute of Auditors – IDW) has summarized the minimum requirements for a remediation expert opinion in the IDW standard S6. These requirements can be used by both auditors and financiers as a basis for an expert reorganisation opinion in order to guarantee uniform minimum standards and at the same time to meet the requirements of case-law of the Federal Court of Justice regarding the quality of expert reorganisation opinions.
For this reason, external financing partners often require the submission of an expert opinion in accordance with IDW standard S6 if an expert reorganisation opinion is required. The first part of such an expert report contains statements on the essential company data, causes and effects, as well as legal and economic influencing factors. It then describes, on the basis of a systematic assessment of the situation, the measures to be taken with regard to the mission statement of the restructured company. At the same time, it quantifies their effects within the framework of integrated liquidity, earnings and asset planning.
The concept must be plausible and feasible in two respects: firstly, it must be possible to enforce the contributions envisaged by the interest groups concerned – in particular the shareholders, lenders, management and employees. Secondly, it must be possible to implement the defined operational and strategic restructuring measures.
Important: the requirements of the IDW standard must be applied taking into account the individual case in question. This means that even for smaller companies, all core components of a reorganisation report must be processed. However, the scope, level of detail and reporting can be adapted to the lower complexity of the company.
Important: According to the draft dated 8.9.2017 for updating the IDW S6, the return on equity also includes the requirement of a balance sheet capital backing at industry level. A company is considered sustainable if the following three criteria are met:
1. Ability to continue
2. Return potential
Important: The requirements described by the BGH are specified in the IDW S6. However, BGH case law always applies, as the IDW covers only one right of associations.
First of all, it is important that you can trust him! But how do you know if you can trust him? A good indication: Your consultant has been active in the market for a very long time and has been successful. Second criterion: He takes your task more seriously than himself. Thirdly, he ensures that all his recommendations can be implemented quickly and effectively!
Furthermore: Your management consultant should be able to assess your situation realistically and neither too pessimistically nor too optimistically and implement the necessary turnaround measures together with you.
Finally: "Transparency, effectiveness and sustainability" should be the triad that decisively determines the work on your project. And this is where Struktur Management Partner is the triad that fulfils all these criteria together! This is also confirmed by a recently published scientific study by the SRH University of Applied Sciences Heidelberg and the five consecutive awards by the business magazine brand eins. Take our word for it!