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Successfully handling corporate crises Handling corporate crises successfully calls for the effective elimination of the source of the problem, recovering the ability to service debts as well as attaining a satisfactory standard with respect to cash flow and equity. In a predominant number of crisis cases in addition to operational crisis, we see strategic deficits. First, this elimination ensures sustainable crisis management by recapturing their competitive ability. The critical components for succesful crisis management - in addition to possessing restructuring experience - is possessing experience working with banks, employee representatives, partners and other stakeholders, having experience in operational business as well as possessing industry expertise. Only these components ensure that a strategy is quickly and effectively realized. Not every business is capable of being restructured - at least not without experiencing bankruptcy. As a result, we test the impact of bankruptcy and the success potential of restructuring after bankruptcy - if restructuring risks and expenses are comparatively high with respect to German commerical code (HGB) terms and conditions. Our consulting approach is influced by the following four success factors: We are your one-stop shop for conception and implementation Integrating implementation requirements into the concept details and the concept details into the implementation Reconfiguring the business model and the business mix Situational specific use of the six instruments of restructuring to eliminate strategy deficits Integrated and aggregated coordination and project management The management committee serves as the main management instrument for all restructuring activities to ensure greater goal conformity W&P`s clear focus on the project and its management Factor oriented, neutral and objective - independent from all stakeholders - commitment to the project objective of corporate restructuring Fact oriented, objective and able to make banking recommendations Regardless of the industry in which we are reorganizing or restructuring a business: We form our own opinion - independent, fact oriented and objective. Reality is what is important to us, regardless of how good or bad it is. Based on this reality, we generate structuring options and alternative courses of action, which really take traction. We are generally commissioned by companies and we subsequently represent their interests - these interests can differ from proprietors/stockholders. We actively demonstrate this in our projects. We reject a mere superficial examination of "foreign" numbers, or rather reject accepted reporting without actually examining the basis for the numbers. In addition, we reject "Quick Checks", which only result in someone having "looked at everything", without having conducted a judicious examination of the figures. We go about our work in progressive stages and in accordance with priortities. In addition, we are cost-conscious, and get to the bottom of something when needed. If this is not possible, we lower the mandate. The sustainability of restructuring is our forerunning principle: short-term successes create trust with stakeholders and motivates them. For a business, securing long-term competitive positioning in the market is a core competency of restructuring. It is only successful by removing strategic defiicits and reconfiguring business models with the use of intelligent structuring ("Structured Restructuring").

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