If the insolvency of a company is unavoidable or even desired as a solution to a problem, the entrepreneur can pass on the fate of the company within the framework of a so-called "self-administration". Such self-administration is becoming increasingly important as a model for the reorganization of companies. Customers, suppliers and employees are better integrated.
hww supports companies and entrepreneurs in the preparation and control of such a self-administered restructuring process as a consultant, but also assumes responsibility if desired by the parties involved. This can include - for a limited time until the completion of the restructuring - in particular the position of a CRO (Chief Restructuring Officer). Either as registered manager or as an organ of the company.
The CRO takes care of the insolvency-specific issues and prepares quickest way out of the insolvency proceedings in consultation with the company and the parties involved. It helps that the consultants of hww speak "the language" of all parties involved, e.g. banks, trade credit insurers and the public sector, because we have already "lived through and suffered through" many problems with them and have always found constructive solutions in the interests of the company and the entrepreneur.
The support of the entrepreneur/CEO in the restructuring process, which is unusual for him, gives him the time to continue to take care of the operative reorientation of the company.
If such an insolvency procedure is professionally prepared in self-administration, the duration from the filing of the insolvency application to the cancellation of the insolvency procedure is regularly between 4 and 7 months in hww-accompanied proceedings. Thereafter, the company, which is at least debt free and possibly also restructured in terms of performance, is released from the insolvency proceedings. The "pilot" of hww then leaves the ship and the management takes over the helm again completely.