Reorganisation & Restructuring

Crisis management from a single source

SKNvonGEYSO sees itself as your partner in all economic situations and in all legal and tax matters. In addition to the legal and tax optimisation of the company structure, this also includes the difficulties in which any company can find itself at some point, whether through its own fault or not.

We also provide our clients with multidisciplinary teams of experts to manage these situations. They support you from quick help to secure liquidity through to a strategic change of course towards the turnaround. Our special structure allows all business, tax and legal perspectives to be considered in an optimally coordinated way.

We develop realistic and resilient concepts quickly and pragmatically based on a proven process, designed to secure profitability, competitiveness and growth in the long term. Whether short-term measures to avert a crisis, preventive reorganisation plans or restructuring reports in accordance with IDW S6, we provide support from a single source.

Our smart, integrated approach enables a high degree of efficiency and acceptance, and therefore feasibility, of the planned measures. We support you from the concept through to implementation to ensure lasting success.

How we work

• With more than 100 experts in tax, law, business consulting, real estate and accounting, we are able to advise companies in crisis situations genuinely from a single source. We achieve a particularly high level of efficiency by optimally coordinating all multidisciplinary expertise in a structured process and avoiding the usual information and coordination problems.
• Working together with the client ensures that we achieve success more quickly, because we make optimal use of the existing knowledge of clients and their employees in interactive workshops. This shortens the otherwise lengthy analysis phases and quickly creates a high level of transparency regarding the reasons for the crisis and possible solutions. We use our clients’ industry knowledge and experience as additional expertise.
• Enabling clients leads to sustainably successful solutions. In addition to learning by doing through close cooperation, we provide clients with pragmatic tools and methodology training, thereby turning help into self-help. This saves advisory costs and prevents new crises. We find our motivation not in selling advisory days for crisis management, but in building long-term successful client relationships in the areas of tax, law, business and accounting.
• Digitalisation means connecting people and technology. With the support of modern IT, we ensure an optimal data flow without many interfaces, are able to quickly gain important insights from data using smart analysis tools (e.g. those of DATEV), and save valuable travel time by using digital remote working tools. We successfully bring digital and analogue together.

Reorganisation

Well-coordinated and proven processes are essential in a crisis. Each step must be taken in exactly the right way. Our reorganisation concept guides clients through the three phases of “understanding, planning and implementing”.

• Understanding: In phase 1, in intensive cooperation with the client, we create a comprehensive, realistic picture of the actual situation and determine the real causes of the crisis. If necessary, we initiate immediate measures to secure liquidity and develop a turnaround concept that is as comprehensible as it is sustainable.
• Planning: In phase 2, we plan operational and structural turnaround measures and translate them into measurable effects that are reflected in an integrated financial plan. This gives providers of capital a clear and realistic picture of the prospects, the associated measures, the costs and the timetable.
• Implementing: In phase 3, once financing has been secured, we start the operational implementation and, as project managers, help ensure that the measures, costs and timetable are adhered to.

Restructuring in accordance with IDW S6

Based on our proven reorganisation approach, our auditors prepare restructuring reports in accordance with the IDW S6 standard. The report provides a qualified and meaningful opinion on how severe the crisis is in which the client and their company find themselves. We consider three questions in the restructuring report:

• Is the company able to overcome the crisis?
• What measures need to be taken to achieve this?
• Within what time frame do the measures have to be implemented, and what does the resulting financial plan look like?

In addition to business management issues, here too we look at all related tax and legal aspects and are able to develop integrated solutions together with our clients and their creditors. By applying the IDW S6 standard, restructuring concepts based on an expert report have a particularly high level of acceptance among banks and other stakeholders.

Short-term crisis management

Not every crisis immediately requires a comprehensive reorganisation concept or even a restructuring report.

Through our interactive workshops and proven tools and methods, we are able to quickly understand the reasons for a crisis without lengthy analysis phases and to initiate countermeasures together. These often include the following measures:

• Preparing a short-term liquidity plan
• Cleaning up the accounting records with our team of over 40 accountants
• Active accounts receivable and accounts payable management
• Support in discussions with creditors
• Determining capital requirements for interim financing
• Preparing a one to two-year integrated financial plan based on strategic and operational measures to modernise the business model
• Preparing bank presentations