will never be
The business world has now become “VUCA”: Volatile, Uncertain, Complex and Ambiguous. The New Market Realities that companies face are many and varied. This is due to a lot of factors: disruption of markets, digitalization of everything possible, creativity of companies for their survival, change in consumer behavior, rise of new business models, etc.
Strategic thinking is often necessary. This can lead to restructuring in many possible areas: governance, capital, finance, operational, backing in a larger group, and also renegotiation of debts with banks and creditors or search for new investors. But many companies are already struggling when they realize that a strategic shift is necessary or when an exceptional and unpredictable event hits them (covid-19, loss of a major customer, collapse of a market, death of the head of the company, etc.).
An urgent restructuring is then essential to ensure the short-term sustainability of the company. Financial difficulties and a slide into insolvency are likely to be fatal. The lack of liquidity, the impossibility of repaying debts can appear very quickly. The whole thing is to take the problem in time because the more perilous is the situation, the less the number of possible backup tracks will be available.
Belgian insolvency law provides companies in difficulties with various tools to restructure while being protected from their creditors. These restructurings can take place under the protection of the courts (Judicial Reorganization Procedures) or outside of them (pre-pack). The total confidentiality of these reorganization processes can be ensured.
The most important point is to be well advised to take advantage of all the possibilities offered by the law as well as to be accompanied in these technical processes that are not easy to apprehend for the head of the company. Just in Time Management coordinates a team of specialists for these turnarounds and insolvency restructurings by relying on experts, lawyers and professionals in finance in order for the head of companies to understand all aspects of these high-risk issues