Our CRO Academy has a clear objective: This exclusive advanced training course provides high-level executives with the tools to take on major CRO assignments. For this purpose, together with our cooperation partners we have put together a comprehensive two-day program which guides the participants through all of the challenges associated with a restructuring process. As well as our Haselhorst Associates experts, the speakers include additional high-level representatives of Latham & Watkins, Freshfields Bruckhaus Deringer, GT Restructuring and Rothschild & Co.

For Dr. Arno Haselhorst, the lively participation of all those present clearly demonstrates the need for this CRO Academy, which is one of a kind in Germany. After all, the number of restructurings is set to continue to rise in the future. This is precisely why there is a need for highly qualified executives who are optimally prepared to take on a CRO assignment. We were particularly pleased that the number of participants has continuously increased since our first CRO Academy – and that this year they included, for instance, both equity investors and representatives of OEMs in the automotive segment.

What were the issues covered by this year’s CRO Academy? On day one, we examined the various triggers of a crisis and discussed the key aspects of corporate governance. We also comprehensively considered management and funding in a crisis scenario. Finally, day two dealt with the various tools available for balance-sheet restructuring as well as key strategic and operational restructuring issues.

In this context, it was particularly exciting to discuss participants’ initial experience of major cases under the German Corporate Stabilization and Restructuring Act (StaRUG). This has established a legal framework in Germany for pre-insolvency restructuring efforts. Participants’ experience shows that this represents an attractive alternative to a conventional insolvency procedure, while the first few major cases certainly demonstrate that the act and its interpretation are set to be further tightened.

Following the successful completion of our CRO Academy, we are already looking forward to our next event!