No business field is more exciting than the interface of a companies´ future or collapse.The company in a crisis implies a challenge for all stakeholders, especially for consultants.
In many cases less than three weeks remain to decide about weal and woe.
It has to do with money and human destinies as well. There is no error tolerance left and the greatest enemies are called "time" and "liquidity".
Companies are set in a corset of contractual obligations and economic relations and dependencies.
Consultants need to understand these relations in a very short time, they have to comprehend legal scopes and rate economic consequnces correctly.
On the other side there are creditors, who gave credit to the company; credit meant in the original meaning, as a "credere" to the company's success.
The belief in the companies success is exhausted in crisis.
Some creditors, especially financial authorities or social insurance carriers wait for shifting the lever.
Others won´t use criminal proceedings, but they exploit their strong position in providing important resources only under worse conditions.
You meet workforces that made concessions in the past.
Now that the crisis is near, existential fears are added.
The best employees leave the company, the loyalty to the company falls and the weakest cling to their social acquis.
And finally there is a group of potential investors, people who throw in the urgently needed fresh money for a turnaround.
You need to fulfil everyones expectations, you need do win and hold his assurance and you have to give individual legal and economical advices
Even if the rehabilitation out of insolvency proceedings does not succeed it is no hopeless situation.
On the contrary – maybe consultants gave recommendations, before the opening of the insolvency, to protect the interests of their own party.
Or you can lead the course of the proceeding actively with creditor representatives, representatives of the entrepreneur or insolvency administrator.
With the opening of the procedure the insolvency administrator is transferred to the place of the entreprenuer overnight.
Now, in a narrow corridor he has to preserve foreign financial interests and make the right economic decisions.