If a company is faced with difficulties, it’s time for a change. A successful turnaround is not an easy matter – it requires expertise. Practice has shown that the success of a turnaround often depends on whether the board is able to reorganise the operations quickly and efficiently, on the basis of a thorough analysis and a sound plan. There are many ways of doing so. A combination of operational and financial restructuring is often required.

A vulnerable company cannot afford to make mistakes: it has only one opportunity to save the business, while under a great deal of pressure. The successful implementation of a turnaround plan requires a close relationship with the stakeholders, such as suppliers, banks, personnel and other parties involved. A transparent approach, with the help of specialised advisors, stands the best chance of success.

The lawyers of our Insolvency Law & Restructuring practice group will be pleased to assist you.