If a company finds itself in a crisis situation, consistent action is required. Not only is a restructuring plan needed to overcome the crisis, but also a communication tool that summarises the company's situation at a glance - the restructuring concept. In particular, the company's stakeholders - above all the equity and debt capital providers - want to know which reorganisation measures can be used to return the company to profitability and how much capital is required for this. In addition, far-reaching legal regulations must be observed during a corporate crisis in order to reduce liability risks.

Restructuring concepts and restructuring reports in accordance with IDW S6 / BGH are prepared for various reasons. These include, among others:

• Basis for a financing decision for equity and debt capital providers in the crisis
• Relief for creditors who agree to an instalment agreement in a corporate crisis
• Discharge of management or the management board in connection with criminal law (e.g. Sections 283 et seq. of the German Criminal Code) or civil law liability aspects (Section 15b InsO)
• to secure the reorganisation privilege pursuant to Section 39 (4) InsO
• as a basis for negotiations with stakeholders
• as a basis for the granting of public aid

The preparation of a restructuring concept or restructuring report typically follows a standardised procedure:

The reorganisation concept must take into account the legal requirements and contains the following essential components:

The restructuring concept, based on IDW S6, is part of the out-of-court restructuring and is intended to provide a statement on the company's ability to continue as a going concern on the one hand and its ability to be restructured on the other. Due to the legal requirements and the identification of reorganisation measures, it is very extensive and therefore very time-consuming.

The Independent Business Review (IBR), on the other hand, is to be understood as an independent short expert opinion and often begins much earlier in the course of the crisis. The IBR is intended to answer specific questions and make them plausible and objective for external third parties and, if necessary, for the management.

As the IBR does not follow a fixed process or guidelines, the objectives and scope of the IBR must always be individually agreed with the client and external stakeholders. As a result, strategic, performance-related and financial components can take centre stage. Depending on the initial situation, the following components take centre stage: