With a very limited amount of time available the turnaround consultant is asked for a precise analysis of the company's and its market's situation emphasizing on the explanation why the company suffers from losses and / or cash drains based on facts and figures.
Therefore it`s essential to rapidly gather, evaluate and interpret all relevant data to fully understand and report the company's problems. This will lead to the answer of the main question:
Is company`s potential sufficient to overcome the crisis?

If the answer is positive the next step will be to create a master plan or blue print for the company's future starting from the strategic and managerial guidelines and developing the necessary means and measures to regain the state of profitability. To convince the various participants in the turn around process, particularly the bankers involved, this master plan has to include realistic forecasts of the company's financial future: profit & loss statement, balance sheet, and detailed forecast of the future cash flow plan, which is of special interest for calculating the amount of fresh money which required.

Usually, the consultant is also asked to support the implementation of the master plan and/or to control the restructuring process with regular reports to the banks.
If the company cannot survive exit strategies have to be developped: sale of the activity or even bankruptcy in its different forms.

All these steps will be discussed in detail based on real cases. Additionally it will be illustrated in which `way` the consultant has to cooperate with all participants involved e.g. banks, stake-holders, trade unions, creditors.

Harvard Business Review on Turnarounds (WD 706A) 2001.

Arpi, Bo International Turnaround Management, McMillan 1999. (WD 703).

Gilson, Stuart C., Creating Value Through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, Breakups, in John Wiley Sons, 2001.

Donaldson, Gordon, Corporate Restructuring: Managing the Change Process from Within; Harvard Business School Press, 1994.

International economic law is related to significant bodies of rules and institutions involved in shaping the 21^st century international economic order. The subject is not only relevant due to its central role facilitating the integration of global markets, but also because of the opportunity to gain specialist expertise in a very important area of international law and global commerce. The lecture includes, in particular:

- Understanding fundamental principles of the law of the World Trade Organization (WTO). Key topics include sources of WTO law, the relationship between WTO law and international and domestic law, the WTO dispute settlement system, and substantive rules on market access.

-  Assessing international law governing foreign investments. Important topics include sources, scope and content of the substantive international law rules that determine investor-state relationships, and discusses their application in practice.

-  Analysing crucial elements of competition law and policy. This covers, for example, the role of international organisations and multinational enterprises, competition rules of the EU and the UK, as well as the relationship between competition policy and trade policy.

Agarwal, A.A. (2017) Business Leadership and Law. New Delhi, Springer.

Chaisse, J., Choukroune, L. & Jusoh, S. (eds.) (2020) Handbook of International Investment Law and Policy. Singapore, Springer.

Fatehi, K. & Choi, J. (2019) International Business Management. Cham, Springer.

Hüschelrath, K. & Schweitzer, H. (eds.) (2014) Public and Private Enforcement of Competition Law in Europe. Heidelberg, Springer.

Jenny, F. & Katsoulacos, Y. (2016) Competition Law and Enforcement in the BRICS and in Developing Countries. Cham, Springer.

Klasen, A. (ed.) (2020) The Handbook of Global Trade Policy. Oxford, Wiley.

Morschett, D., Schramm-Klein, H. & Zentes, J. (2015) Strategic International Management. Wiesbaden, Springer Gabler.

OECD (2022) Arrangement on officially supported export credits. Paris, OECD