For companies to successfully implement restructuring, they must keep in mind four key factors: the existence of a healthy core business, the availability of new sources of financing, quality management, and a positive employee attitude.
A more detailed presentation of these factors will be heard by participants at the Lider conference ‘How to Apply the New Law on Financial Operations’ which will be held on October 30 at the Hypo Center in Zagreb.
According to Danko Sučević from Infokorp, who will give a lecture, the legal provisions on pre-bankruptcy settlement are a step in the right direction towards clarifying the situation in the business community. However, he emphasizes that restructuring will not be successful if all four factors are not present. Namely, the Law quite precisely defines the content of the required financial restructuring (FR) plan, but only touches upon the operational restructuring (OR) plan. This poses a danger for the long-term successful continuation of business. British research shows that only 20 percent of companies emerge from business problems by implementing restructuring measures. For every third company, it can be immediately established that there is no chance, and of those assessed to emerge from the crisis through restructuring, only 50 percent have succeeded in doing so.
At the conference, a lecture will also be given by Nada Čavlović Smiljanec, the director of the Tax Administration, and the president of the Management Board of Fina, Anđelka Buneta. If you have a question for the head of the Tax Administration or the president of the Management Board of Fina, please send them to [email protected], and answers will await you on October 30 at the Hypo Center.
More information about the conference and registrations can be found HERE
