Insights & Posts

Banks are pushing Cosan for better terms. Moody's has issued a second downgrade. The Cosan–Shell–BTG triangle has collapsed. And a potential debt haircut and ownership restructuring are now explicitly on the table. This update reviews what has changed, what it means for the four sustainability pillars, and what the next 60 days will determine.

A 102-year-old German agricultural conglomerate, a collapsed renewable energy divestment, a criminal probe, a BaFin reprimand, a departing CEO — and a €2.7 billion hole in the original restructuring plan. A four-pillar sustainability analysis of one of Europe's most complex ongoing corporate restructurings.

Slovenia's largest steel group has bought itself time. Whether it has bought itself a future is a different, and far more important, question. A four-pillar sustainability analysis of Europe's most politically sensitive industrial restructuring of early 2026.

Brazil's largest-ever out-of-court restructuring carries genuine promise — and equally genuine risk. A four-pillar analysis of what works, what worries, and what the market is missing.

Ambition and innovation are vital, but only when paired with rigorous planning, collaboration, and pragmatic leadership.

Restructuring in Russia faces challenges due to lack of trust, short-term planning, and discredited parties. Effective solutions require independent consultants to ensure unbiased assessments and foster cooperation between banks and borrowers.

"Rules of thumb" for banks working with a distress situation include creation of a tailored system for working with distressed assets, creation of a competent team and working with professional independent service providers

Conflicts between borrowers and creditors in Russia highlight the need for structured approaches like the "London Approach" and INSOL Principles, especially during crises. These principles, though rarely applied, could improve negotiation outcomes.

To manage a crisis, control cash flow and assess the situation to avoid complications. Strengthen management teams and avoid panic. Future actions depend on the initial response's success, leading to project adjustments or business model changes.

Many misunderstand the purpose of financial modeling in debt settlement... The true objective is to evaluate prospects, explore options, and facilitate negotiations rather than merely creating a calculator.

After a decade in consulting, I joined banking industry to manage distressed assets, learning that effective recovery involves strategic decision-making and adaptability.

Crisis management is vital for CEOs; proactive planning, quick action, and cash flow control are essential.

"Effective leadership during crises is vital for recovery. Key strategies include staying calm, transparent communication, decisiveness, team empowerment, and adaptability. Resilience fosters a culture that helps organizations recover stronger."