Reorganisation advisory
Restoring operations and the balance sheet, drawing up a restructuring programme. Whether the procedure may be started is decided on the documentation submitted — so compiling it is a professional matter.
Overview
Restructuring on well-founded documentation
The declared purpose of Government Decree 179/2021 (IV. 16.) on the reorganisation of businesses is to improve the assets, financial position and solvency of businesses in financial difficulty, and thereby to secure their continued operation.
Deciding on and starting a reorganisation procedure requires related groups of documents and statements: from the company’s founding documents through a presentation of its economic and legal position to the reorganisation plan. The decision on whether the procedure may be started is based on a review of these, so the professional quality of the material is in itself decisive.
Our firm assists in compiling the documents as an advisory service. Our colleagues have decades of experience in accounting, auditing, liquidation, taxation and forensic expert work, so they know both the numerical and the legal expectations.
What we do
The groups of documents to be compiled
We assist with the following sub-tasks, working together with the company’s management.
- Founding documents. We collect and check the company’s founding and registration documents.
- Presentation of the business. We prepare a narrative description of the activities, the organisation and the framework of operations.
- Economic position. We present and analyse the company’s economic position on the basis of the accounting and financial data.
- Legal position. We review the legal position: pending proceedings, contractual and creditor obligations.
- Reorganisation plan. We assist in drawing up the plan, quantifying the planned measures and their expected effects.
- Receivables and liabilities. We organise the receivables and liabilities so that creditor relations can be seen clearly.
- Internal consistency. We align the groups of documents so that the narrative and numerical parts agree with one another.
- Decision preparation. We prepare a summary for the decision-making body on the decision to start the procedure.
Frequently asked questions
What is worth clarifying in advance
Why does the quality of the documentation matter so much?
Because whether the procedure may be started is decided on a review of the documents submitted. Incomplete or internally inconsistent material can therefore be an obstacle even where the business has a realistic restructuring idea behind it.
Do you make the decisions in place of management?
No. The decision belongs to the company’s decision-making body and management. Our task is to underpin the decision: processing the data, preparing the analyses and the numerical basis of the plan, and compiling the documents.
What is needed to start the work?
The accounting records and the most recent financial statements, a review of creditor and contractual obligations, and management’s ideas on continued operation. If a medium-term business plan is available, it is worth handing that over too.
When is it worth starting a reorganisation?
When the difficulty is still manageable: deteriorating liquidity, deferred payments or a persistently loss-making business line. The earlier the process starts, the more tools are available and the greater the chance of preserving operations.
What happens to creditors during a reorganisation?
The aim is an achievable agreement worked out together with the creditors. We prepare a plan supported by transparent figures, and this forms the basis of the discussions — orderly, documented communication improves the chance of agreement in most cases.
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Considering a restructuring?
Let us discuss what can be put together from your company’s data and on what timetable the reorganisation documentation can be prepared.