What you can expect
The restructuring process
Rapid insight is the first thing needed. We analyze liquidity, performance, and debt position, and prepare a short-term and long-term cash flow forecast. This determines how much time actually remains to achieve an operational turnaround. We assess viability, map out stakeholders and their positions, and develop scenarios, both operational and financial. We have comprehensive liquidity models at our disposal for these calculations.
We discuss these scenarios with the stakeholders and gauge the willingness of banks and shareholders to contribute. Communication in this phase is at least as decisive as the figures: lost trust is difficult to rebuild. We then negotiate what is needed to create breathing room, from deferral of repayments and amended covenants to new funding. The solution ranges from renegotiating terms and a temporary suspension of obligations to additional financing, shareholder contributions, a debt restructuring with write-down or conversion, a complete balance sheet reorganization, or the sale of part of the business. Finally, we formalize the agreements and guide the implementation.
Why Maasdael?
Maasdael has in-depth experience with complex restructurings and special situations. Our background in the banking sector means that we know the dynamics on the other side of the table: how financiers view a case in these circumstances and what is needed to make the intended solution workable for them. A partner is always directly involved in these processes, with short lines of communication and quick decision-making.
Our approach is personal and no-nonsense: we bring structure and direction to a hectic situation and are honest about what is and is not feasible. Especially in a restructuring, where emotions, reputation, and the survival of a life's work come together, we combine a businesslike approach with a human touch.
