We develop and manage tailored trusteeships and fiduciary structures with a high degree of flexibility. Our structures provide a workable restructuring framework, which enhances the going concern and enables the restructuring while preserving interests of existing shareholders and creditors.
Double-sided-trusteeships (active or passive) in restructuring or transformation
Hands-on, value-driven interim shareholder in special situations
Tailored structures to meet specific requirements
Restructuring processes are rarely straightforward. The key to any successful restructuring is to balance and align the interests of critical stakeholders. Depending on the individual situation, creditors sometimes require a restructuring backstop in exchange for their further support. Trusteeships or fiduciary structures are a common option for such a backstop, as well as to attract creditors.
We provide and manage these structures in a restructuring process and transformation. As a result, successful processes are facilitated, confidence and trust in the company and the process are re-established and enhanced. Our structures can also be used to ringfence specific business units or risks, whether or not they are part of the restructuring. Every project and process is different. Our structures are tailored but always efficient.
Objective: Restructuring backstop for creditors
Structure: Terms and conditions are agreed upon in a trust agreement. The trust agreement governs the relationship between trustor, trustee and beneficiary. Critical elements are typically the definition of trigger events and irrevocable instructions towards the trustee if defined trigger events ever materialise.
Upon implementation of the preferred structure, the trustee moderates and balances between the trustor and beneficiary to achieve the best result for all the parties. Restructuring skills, know-how and experience are crucial for a successful outcome.
Advantage: Further support by existing creditors despite reservations or lack of confidence in the business
Objective: Out-of-court restructuring by an experienced restructuring shareholder with no equity interest
Structure: The restructuring shareholder assumes the company shares in consultation with the parties involved and actively exercises the shareholder and control rights in a restructuring phase
Advantage: Solid restructuring framework to safeguard the transformation without the existing shareholders or requiring additional investors
Objective: Ringfencing, parking or liquidation of assets, liabilities or tools to manage risk
Structure: We offer tailored structures (both in Germany and abroad) specific to the respective challenges. If and when required, we take an active approach to manage and control the structures
Our approach establishes a well-proven framework that offers new collaborative alternatives to get things done.
We provide our services with integrity and with utmost discretion.
Irrespective of the required approach – active or passive – we work with an enterprising spirit to maximise outcome and minimise stakeholder risk.
