Restructuring and Insolvency of an Enterprise
Module 8
Restructuring and Insolvency of an Enterprise
Prof. Christopher Bisping
An enterprise might find itself in immediate financial problems or fear financial problems given potential demands made by creditors. Creditors of an enterprise might worry that they lose out on justified claims they have against that enterprise. It is at that stage that restructuring and insolvency come into play. Insolvency is a legal process in which the interests of creditors and of the insolvent entity itself are assessed and balanced.
There are different attitudes towards insolvency across legal systems. Some emphasize insolvency procedures as a shield against demands, others emphasize the protection of creditors. In this course we will look at several questions, including (i) when does insolvency start, (ii) what are the duties of directors in insolvency, (iii) what are the ways of protecting oneself against the insolvency of a debtor, (iv) what are the different types of insolvency proceedings, (v) what is the territorial scope of insolvency. These questions will be addressed looking at selected key jurisdictions, including Germany, the UK and the US.
We will discuss the interests of involved parties, including the affected enterprise, employees, secured and unsecured creditors, as well as considering cross-border situations. The lectures will be enriched by practitioners who will give additional insights from their practice.
Digitalization of an Enterprise
Prof. Dr. Dries Faems
The rise of digital technologies has further increased the strength and speed of disruption in a wide variety of industries. These changes do not only imply challenges, but also create opportunities for companies to innovate in terms of novel products, processes and business models. In this course, we provide a comprehensive overview of how companies can successfully manage digital transformation. To do so, we offer insights, tools, and practices from a strategic, organizational as well as innovation perspective.
From a strategic perspective, we will address questions such as (i) How to identify valuable digital transformation opportunities? (ii) What is the role of internal and external strategies in implementing digital transformation? (iii) How can I create and appropriate value from digital transformation?
From an organizational perspective, we will discuss issues such as (i) Do we need to generate a separate digital transformation unit or should digital transformation activities be fully integrated? (ii) How to structure teams that are responsible for digital transformation?
From an innovation perspective, the following topics will be addressed: (i) The role of open innovation in digital transformation, (ii) the need for novel business models to address digital transformation, (iii) the role of agile new product development in digital transformation.
In the lectures, participants will get advanced and state-of-the art knowledge on these issues. To do so, we rely on recent academic insights and case material. Moreover, participants will actively use novel tools and methodologies to execute assignments on how to successfully innovate for digital transformation.
