DT manages companies in distress and puts qualified executives at their disposal to manage diverse situations
CRO (CHIEF RESTRUCTURING OFFICER)
DT provides the company with a CRO who is responsible for a given restructuring. The CRO guarantees creditors that the restructuring process is being carried out as agreed, identifies and corrects possible divergences and proposes changes to the process, if necessary. The CRO can take on positions of maximum responsibility in the company or work under the CEO. One of the CRO’s priorities is to monitor the company’s operating cashflow.
DT assumes responsibility for effecting turn-arounds at companies. In order to do so, DT must be involved in designing the business plan or, at least, revise the existing plan in order to endorse it. The DT team takes responsibility for managing the entire process and for selecting the future team once the company is restructured.
MANAGEMENT OF PRE-INSOLVENCY AND INSOLVENCY SITUATIONS
DT takes responsibility for managing companies in pre-insolvency and insolvency situations. The change introduced by Royal Decree Law 3/2009, of 27 March and, specifically, by article 5.3, allows companies more time to prepare to file for insolvency and gives them four months to negotiate an early composition agreement, thus, enabling them to go into receivership in a manner acceptable to the parties. DT steers this process, forming a team with the lawyers appointed by the company and the company’s future managers.
TAKING ON THE ROLE OF ADMINISTRATOR
DT takes on the role of administrator in certain situations, including both non-executive director and sole administrator positions.
DT heads up the financial restructuring of companies, designing a refinancing plan and presiding over negotiations with financial institutions.