The German Corporate Stabilization and Restructuring Act, or StaRUG for short, has been in force since the beginning of the year. It enables companies that are not yet insolvent or heavily indebted, but threatened with insolvency, to carry out pre-insolvency restructuring as part of an independently managed process. For many companies, this could well be an increased chance of sustainable and value-retaining restructuring.
This year will make it clear just how well banks are able to cope with the consequences of the COVID-19 pandemic. According to some estimates, their most severe stress test since the global banking and financial crisis of 2007 still looms ahead of them. Against this background, we interviewed Holger Rabelt, Managing Director of Commerzbank AG. What does his new position as Divisional Manager for Corporate Reorganization and Restructuring entail? What has been a particularly decisive experience in his career so far? What developments does he expect for the economy and the banking sector and what measures does he recommend for companies and banks in the current situation? Read on to find out more.
German soccer is limping along. Games yes, but ghost games, meaning no spectators, which results in significantly less money. Even the ratings are falling, and with them the income from TV . "BVB half-year figures: 26 million Euro loss," headlines kicker.de , among others, on February 9. Soccer clubs are facing immense challenges. Turnarounds in an branch that is only used to growth: How does that work? What kind of rethinking needs to take place and what opportunities need to be seized? Read more in the expert interview with Michael Klatt, former CFO and managing director of well-known soccer clubs, and Philipp Piscol, Managing Partner of enomyc.
‘What do start-up and restructuring have in common?’, you may ask yourself now. And what do start-ups have in common with business consulting? „Quite a bit”, says our Managing Consultant Jendrik Voss, „because the know-how of experienced restructurers can put a business idea on such a solid foundation from the moment it is founded that it pays off and expands in the long term. ” Learn more about the four pillars that can help a business model achieve sustainable success.
With concepts like "just-in-time production", Toyota and its legendary Toyota Production System (TPS) have had a lasting impact on countless companies around the world. When it was introduced in the early 1990s, the Japanese manufacturing system established new standards and benchmarks for the automotive sector and other manufacturing industries. But today we know this legendary production system has to be closely woven into a company's DNA – its strategy, corporate and even national cultures. This takes time – something crisis-hit companies usually don’t have. Luckily, there’s ePS4x from enomyc.
Philippe Piscol, Managing Partner at enomyc, has successfully been driving the field of distressed M&A for 8 years with great energy. What has he come to expect: Will the number of insolvencies continue to rise? Will the complexity of cases increase? Is it worth investing now? The interview also deals with the main topics involved in distressed M&A: How do you achieve a smooth sales process? What is important in the network and last but not least, what is it that attracts him personally to distressed M&A?
Imagine that a company is in a difficult economic situation. The annual result is deep in the negative and creditors are demanding their money back. The shareholders, who also have money invested into the company, are now considering