{"id":1070,"date":"2021-04-15T09:20:42","date_gmt":"2021-04-15T07:20:42","guid":{"rendered":"https:\/\/www.3xcapital.it\/turnaround-restructoring\/chief-restructuring-officer\/"},"modified":"2021-07-07T15:46:39","modified_gmt":"2021-07-07T15:46:39","slug":"chief-restructuring-officer","status":"publish","type":"page","link":"https:\/\/www.3xcapital.it\/en\/turnaround-restructuring\/chief-restructuring-officer\/","title":{"rendered":"Chief Restructuring Officer"},"content":{"rendered":"<div class=\"wp-bootstrap-blocks-container container mb-2\">\n\t\n<div class=\"wp-bootstrap-blocks-row row\">\n\t\n\n<div class=\"col-12\">\n\t\t\t\n\n<h1 class=\"f-light mt-5 wp-block-heading\"><strong>Chief Restructuring Officer<\/strong><\/h1>\n\n\t<\/div>\n\n<\/div>\n\n<\/div>\n\n\n<div class=\"wp-bootstrap-blocks-container container mb-2\">\n\t\n<div class=\"wp-bootstrap-blocks-row row\">\n\t\n\n<div class=\"col-12 col-md-6 my-auto\">\n\t\t\t\n\n<p class=\"wp-block-paragraph\">Also known as a \u201ccrisis manager\u201d, the CRO is an experienced manager both in the ordinary management of the company and in the activities that characterise the restructuring processes, whether liquidation or continuation proceedings.<\/p>\n\n\t<\/div>\n\n<\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-cover has-background-dim imgFullWidth\"><img loading=\"lazy\" decoding=\"async\" width=\"1254\" height=\"836\" class=\"wp-block-cover__image-background wp-image-922\" alt=\"\" src=\"https:\/\/www.3xcapital.it\/wp-content\/uploads\/2021\/06\/iStock-1254408203.jpg\" style=\"object-position:52% 38%\" data-object-fit=\"cover\" data-object-position=\"52% 38%\" srcset=\"https:\/\/www.3xcapital.it\/wp-content\/uploads\/2021\/06\/iStock-1254408203.jpg 1254w, https:\/\/www.3xcapital.it\/wp-content\/uploads\/2021\/06\/iStock-1254408203-300x200.jpg 300w, https:\/\/www.3xcapital.it\/wp-content\/uploads\/2021\/06\/iStock-1254408203-1024x683.jpg 1024w, https:\/\/www.3xcapital.it\/wp-content\/uploads\/2021\/06\/iStock-1254408203-768x512.jpg 768w\" sizes=\"auto, (max-width: 1254px) 100vw, 1254px\" \/><div class=\"wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow\"><div class=\"wp-bootstrap-blocks-container container mb-2\">\n\t\n<div class=\"wp-bootstrap-blocks-row row\">\n\t\n\n<div class=\"col-12 col-sm-8 col-md-6 pt-4 pb-3 whiteLeft\">\n\t\t\t\n\n<p class=\"has-black-color has-text-color wp-block-paragraph\">Our professionals can intervene effectively in crisis management by taking on the role of CRO, assessing the situation and assuming delegated powers in the company, if the case requires it.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color wp-block-paragraph\">The CRO, in addition to coordinating the joint efforts of the entrepreneur, management and advisors, is primarily responsible for implementing the recovery plan (which is often formally requested by creditors).<\/p>\n\n\t<\/div>\n\n<\/div>\n\n<\/div>\n<\/div><\/div>\n\n\n<div class=\"wp-bootstrap-blocks-container container mb-2 py-2\">\n\t\n<div class=\"wp-bootstrap-blocks-row row my-5\">\n\t\n\n<div class=\"col-12 col-md-6 my-auto\">\n\t\t\t\n\n<p class=\"wp-block-paragraph\">The company in which the CRO is called to act, almost always suffers from a financial problem and therefore, the CRO\u2019s first task will be to understand how to guarantee continuity, managing the cash flows with the utmost attention.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The CRO\u2019s activity is based on the business plan, which must translate the crisis resolution strategy into actions and, in the case of bankruptcy proceedings, will be accompanied by a financial package to be proposed to creditors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The CRO\u2019s job becomes even more important in the implementation of the plan itself, and in verifying that the company is making all the necessary \u201ccorrections\u201d defined in the turnaround phase.<\/p>\n\n\t<\/div>\n\n\n\n<div class=\"col-12 col-md-6\">\n\t\t\t\n\n<h4 class=\"wp-block-heading\">Main activities<\/h4>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<ul class=\"wp-block-list\"><li>Coordination of the work of the entrepreneur, management and advisors<\/li><li>Protection and management of liquidity<\/li><li>Identification of the crisis resolution strategy<\/li><li>Verification of the implementation and execution of the business plan<\/li><li>Assessment of the need for insolvency proceedings<\/li><li>Preparation of a possible financial manoeuvre to be proposed to creditors<\/li><\/ul>\n\n\t<\/div>\n\n<\/div>\n\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":1069,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1070","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/pages\/1070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/comments?post=1070"}],"version-history":[{"count":2,"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/pages\/1070\/revisions"}],"predecessor-version":[{"id":1080,"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/pages\/1070\/revisions\/1080"}],"up":[{"embeddable":true,"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/pages\/1069"}],"wp:attachment":[{"href":"https:\/\/www.3xcapital.it\/en\/wp-json\/wp\/v2\/media?parent=1070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}