A Restructuring Agreement is a procedure for companies in difficulty, i.e. companies encountering distress resulting from whatever cause and giving rise to a real and serious threat to the company’s future ability to pay its debts as they become due, if appropriate measures are not taken.
Under Restructuring Agreement proceedings, a debtor in a state of difficulty proposes a restructuring agreement to the affected creditors (i.e. those creditors which are directly affected by the restructuring measures proposed in the restructuring agreement).
KPMG can help companies which are contemplating the use of a Restructuring Agreement by providing Restructuring Administrator services, which include:
- assessing the state of difficulty and issuing a report on the state of difficulty;
- writing or assisting the company in writing the restructuring agreement;
- communicating the proposed restructuring agreement to the affected creditors;
- negotiating or assisting the company in negotiating the restructuring agreement with the affected creditors;
- organizing the voting process for the restructuring agreement;
- monitoring the implementation of the restructuring agreement based on the information sent by the company in a timely manner;
- assisting the company in implementation of the restructuring agreement.
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