Hartwig Skala

The final publication of IDW S 16 provides, for the first time, a concrete reference framework that operationalizes the legal obligation for early crisis detection under Section 1 of the StaRUG. IDW S 16 does not create a new legal framework, but rather specifies how companies can properly fulfill the previously often abstract requirements for early crisis detection, planning, and risk management. enomyc partner and financial expert Jonas Keppler explains what the standard means in practice—and what consequences it has for business decisions .

From controlling at a renowned state bank to working in an internationally operating SME and finally to management consulting: Jonas Keppler has already sat on many chairs. What all stages have in common: his passion for numbers. Which restructuring case does he consider the most exciting of all time? How can CFOs and controllers be convinced to use AI? And with which guiding questions does he inspire medium-sized companies to think big? A conversation with Jonas Keppler – about numbers, impact, and perspective.

Im Zusammenhang mit Restrukturierungen ist immer öfter von sogenannten Loan-to-own-Transaktionen die Rede. Bei dem ursprünglich aus den USA stammenden Modell kaufen insbesondere Finanzinvestoren gezielt Forderungen gegen Schuldnerunternehmen auf, um diese in vorinsolvenzlichen Sanierungsverhandlungen oder im Rahmen eines Insolvenzverfahrens zu übernehmen. enomyc-Autor Alexander Neumann erklärt, welche Rolle das Instrument auf dem deutschen Markt spielt, welche Vorteile solche Transaktionen für Banken und Investoren – und gegebenenfalls die betroffenen Unternehmer – haben und was dabei zu beachten ist.

One in four insolvencies is due to late payments. Especially in business trans-actions between large debtors and small creditors, long payment terms re-peatedly lead to problems. As a result, particularly SMEs, which rely on pre-dictable cash flows, are forced to delay payments to their own suppliers, incur higher financing costs, and have less room for investments. With a directive aimed at combating late payments in commercial transactions, the European Commission intends to ensure more fairness. Moreover, it aims to enhance the competitiveness and resilience of small and medium-sized enterprises. While this sounds promising, it also has its drawbacks, according to experts Marc Fahrig and Ralf Ehret, who outline what businesses should now prepare for.

During a corporate crisis, many things change, including the relationship between the company and its financiers. Internal regulatory requirements lead to changes vis-à-vis lenders' engagement strategies and new contacts. Communication requirements also increase in many respects. Those who fail to recognise this risk a communicative downward spiral and thus potential existential consequences. Why is correct crisis communication so crucial for a successful restructuring? And how does it work exactly? Ralf Ehret, enomyc Partner and Head of Debt Advisory, looks at five typical pitfalls of communication with financing partners - and how you can avoid them.

Raw materials, labor, energy, transportation: everything is becoming ever more expensive. But that's not all: the rising costs of important input factors are endangering the profitability of companies. With our interactive inflation calculator, you can quickly find out just how much price increases are impacting your company's earnings and how price increases to your own customers can provide relief.

The current crisis not only has a major impact on the liquidity of companies: It also affects their payment morale. The focus is on existing contracts - as well as on future business relationships. What options do entrepreneurs have in the event of their business partners going bankrupt? Which contractual clauses are important for existing and future business relationships? We asked Reiner Winkelbauer, business mathematician, experienced managing director and CFO in the aerospace and pharmaceutical industries. He has been advising companies as a partner at enomyc for about five years. What recommendations does he have for entrepreneurs? How can they protect their company in the current situation?