We know what personal responsibility is for the health of the company. For us, a crisis in an enterprise means an opportunity to provide maximum added value through effective sanitation, as we specialize in healing business organizations.
L&P offers specialized restructuring and revitalization services carried out by managers with licenses of restructuring advisors and outstanding achievements in business restructuring, as well as expert support of lawyers, auditors and investors cooperating with us.
The faster the company that is experiencing increasing difficulties will take appropriate corrective actions, the higher its effectiveness will be.
L&P services for Companies requiring revitalization
We offer the revitalization of companies in difficulty before their financial situation deteriorates so much that they should be covered by the proceedings provided for in the restructuring law or bankruptcy law.
Then we implement expert revitalization activities strictly adapter to the situation of the company, which most often include:
- changing the market strategy and business model,
- improving the efficiency of business processes and management functions,
- reducing the operating costs and overdue receivables,
- improving liquidity and obtaining additional funding,
- increasing the revenues and improving the sales profitability,
- protection of management board members from criminal or fiscal liability.
In such cases, the proprietary tool of L&P FAST TRAKING works perfectly, which due to the time pressure to stop the crisis in the company enables simultaneous analytical and implementation activities, ensuring the fastest self-financing of the revitalization process, leading to effective healing of the company and return to the development path.
L&P services for Companies in needs of restructuring
If the crisis in the company turns out to be so profound that it is worth using the legal procedures provided for in the restructuring law or bankruptcy law, we propose the involvement of licensed Restructuring Counsellors of L&P.
The restructuring law effective from January 1, 2016 gives the possibility of effective restructuring of enterprises on the one hand, and on the other hand it provides protection for creditors who gain a chance to exert real influence over the entire process.
The restructuring proceedings resulting from the act, depending on the size of the crisis in which the company has found itself, includes four separate procedures:
- proceedings for the conclusion of a settlement that allows debtors to agree with creditors without publicizing the problem,
- accelerated arrangement proceedings, in which the arrangement will be concluded at the creditor meeting,
- arrangement proceedings, intended for those entrepreneurs who are on the verge of insolvency or are already insolvent,
- rehabilitation proceedings, in which the liabilities are restructures, and the debtor has limited possibilities to manage his property in connection with securing the legitimate rights of the creditors.
The bankruptcy law has also been significantly changed. One of the regulations introduced on this occasion, which gives additional opportunities for companies in the deep crisis and their creditors, is the new liquidation bankruptcy procedure, the so-called “pre-pack”, or the prepared liquidation. It allows to purchase a bankrupt enterprise by a predetermined buyer, without carrying out liquidation proceedings, by finding investors and entering into preliminary sales contracts with them, which the courts will be obliged to approve along with applications for bankruptcy.
A reliable diagnosis of the company’s situation in a deep crisis and a quick response in the form of professional development and effective implementation of appropriate activities provided for by law is the basis for success and it all depends on which restructuring advisers the parties choose.
As licensed restructuring advisors who are also experts in the field of management, we are responsible for the reliable implementation of corrective programs and efficient conduct of the company through court proceedings, ensuring:
- pre-restructuring analysis of the causes of the crisis in the company and repair options,
- working out an arrangement between creditors and companies in a crisis, along with legal optimization of the commencement of a trial before a restructuring court,
- crisis communication, both internal, PR and contacts with creditors,
- preparation, implementation and supervision over the implementation of the restructuring plan, acting as the manager in the restructuring proceedings,
- negotiations and an arrangement with creditors in concluding agreements and out-of-court restructuring of obligations and “standstill” agreements allowing for suspension of claims, abandoning debt collection and starting talks on debt restructuring,
- acting as a supervisor and manager in restructuring proceedings, if as a licensed restructuring advisors we will be appointed by the boards of endangered companies to conduct restructuring proceedings under the supervision of the court, and the court agrees due to our competence and support of at least 30% of the creditors,
- acting as a Temporary Judicial Administrator who as the Chief Restructuring Officer carries out planned corrective actions in the conditions of a crisis,
- optimization of the company’s finances in the crisis and support in obtaining additional sources of restructuring financing,
- support in obtaining a public assistance package, when measures are taken to cancel liabilities to state institutions.
L&P services for Creditors
As licensed restructuring advisors, we protect the rights of creditors by saving the debtor from liquidation. By healing the contractor’s company, we enable creditors to recover their debts and further profitable cooperation by ensuring:
- pre-restructuring analysis of the causes of the crisis in the contractor’s company and repair options,
- working out an arrangement between creditors and counterparties in a crisis, along with legal optimization of the commencement of a trial before a restructuring court,
submitting applications for the opening of rehabilitation proceedings or for a compulsory management of the counterparty’s company, optimizing the use of advanced legal restructuring instruments,
- protection of rights and representation of creditors in restructuring proceedings, by handling the voting processes of creditors and counting votes, analysis of arrangement proposals, and appointment of the creditors’ Boards in order to increase the creditors’ influence on the proceedings,
- supervision and control over the implementation of the arrangement and restructuring plans as a court supervisor, monitoring the effectiveness of remedial actions as a creditor’s plenipotentiary, or being indicated by the creditor as a licensed restructuring proceedings under the supervision of the court, and the court agrees due to our competence and support of at least 30% of the creditors.
L&P services for Restructuring and Bankruptcy Courts
LORANC & PARTNERS sp. z o.o. guarantees the highest standards of restructuring consultant professionalism, credibility and effectiveness of repair program implementation, efficient management of relations with creditors, and effectiveness in providing financing of agreements, using a wide range of complementary management services, facilitates in the field of law and finance, know-how and experience.