Corporate Restructuring PT
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Financial Restructuring Instruments

level of course unit

second cycle, Master

Learning outcomes of course unit

Upon successful completion of the course, students are able to differentiate between the key financial restructuring measures in the area of debt, equity and assets (with regard also to fiscal and legal aspects),and, based on case studies, to characterize the practical use of these reorganization instruments and distinguish between them.

prerequisites and co-requisites

not applicable

course contents

A. Fundamentals of Corporate Finance
I. Basic concepts
II. Funding rules
III. Financial Ratios
IV. Financial instruments

B. Basics of redevelopment funding
I. Objectives and principles
II. Definition of financial restructuring instruments

C. Financial restructuring measures in the area of debt
I. Basics of credit financing
II Reorganization by foreign investors
a. Waiver of loan termination - standstill agreement
b. Conversion of existing debt–declaration of subordination, debt-equity swap
c. Reduction or cancellation of existing debt - debt waiver
d. Contribution of new debt - reorganization loan

D. Special forms of reorganization financing
I. Mezzanine loan including participating loan
II. Typical and atypical silent partnership
III. Capital improvement
IV Participation rights
V. Convertible bonds

E. Financial restructuring measures in the field of equity
I. Accounting equity restructuring
a Release of reserves
b . Release of hidden reserves
c . Capital reduction
II. Grants and capital increases
III. Shareholder loans
IV. Additional contributions
V. Turnaround Equity

F. Financial restructuring measures in the area of asset
I. Sale of assets( not necessary for operation)
a. sale and lease -back
II. Decrease in assets : Factoring & Forfaiting
III. . Capital release in current assets : inventory reduction
IV. Other measures of internal financing : Distressed Debt

recommended or required reading

Dohrau Nina (2013) Optimierung der Finanzierungsstruktur. In: Exler, Markus (Hrsg.) Restrukturierungs- und Turnaround-Management, S.189-214, Berlin,
Kranebitter, G. & Fellner, M. (2007). Finanzierung in der Krise, Wien
Aigner, D., Aigner, H.-J., Aigner, J., Aigner, B. & Spitzbart, S. (2008). Krisen- und Sanierungsmanagement, Wien
Lichtkoppler, K. & Reisch, U. (2010). Handbuch Unternehmensfinanzierung, Wien
Stadler, W. (2004). Die neue Unternehmensfinanzierung ¿ Strategisch Finanzieren mit bank- und kapitalmarktorientierten Instrumenten, Redline Wirtschaft
Mittendorfer, R. (2007). Praxishandbuch Akquisitionsfinanzierung ¿ Erfolgsfaktoren fremdfinanzierter Unternehmensübernahmen, Wiesbaden

assessment methods and criteria

written examination or homework

language of instruction

German

number of ECTS credits allocated

3

planned learning activities and teaching methods

Lecture, group work, presentation and task discussion

semester/trimester when the course unit is delivered

2

name of lecturer(s)

Udo Zimmer,Mag. Nina Dohrau, MBA

year of study

1.year of studies

recommended optional program components

not applicable

course unit code

B.SAN.1

type of course unit

compulsory (integrated lecture)

mode of delivery

In-class course

work placement(s)

not applicable

Contact

Situm Mario
Prof. (FH) DDr. Mario Situm, MBA
Director of Studies
+43 5372 71819 147
Mario.Situmfh-kufstein.ac.at
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Internationales Symposium Restrukturierung

Am 23. Oktober 2020 findet das „9. Internationale Symposium Restrukturierung“ an der Fachhochschule Kufstein Tirol statt.

Im Mittelpunkt der Jahreskonferenz 2020 steht das Rahmenthema "Gute Führung". Details finden Sie hier.

RESTRUKTURIERUNGS-QUALITÄTSSIEGEL FÜR KUFSTEINER MASTERSTUDIENGANG

Der berufsbegleitende Masterstudiengang „Unternehmensrestrukturierung & -sanierung“ ist nach einjähriger Begutachtung offiziell „TMA zertifiziert“ – das renommierte Qualitätssiegel des Verbandes der deutschen Restrukturierungsexperten (TMA).

Weitere Informationen siehe hier.

Restrukturierungs- und Turnaround-Management

ild: Buch Restrukturierungs- und Turnaround- Management

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