How long does restructuring take The duration of an out-of-court restructuring can vary considerably depending on a number of factors, such as the scale and complexity of the organisation, the reasons for restructuring, as well as specific implementation goals and strategies. For smaller, focused implementations it can range from a few months, for more complex ones several years.
Restructuring carried out under the modes set out in the Restructuring Law depends on the type of proceedings chosen and the complexity of the required remedial action can take from 4 m- months to even several years. The fastest and most simplified is the procedure for approval of the arrangement, where the time to submit an application for approval of the arrangement is 3 m-months from the date of the arrangement and the instructional time for its consideration is 2 weeks, the most complex and in practice lasts the longest is the sanitation proceedings. As the experience of recent years shows restructuring proceedings can be carried out for several years.
It is also important to, in order to during restructuring conduct appropriate communication with employees and stakeholders and monitor progress, which may affect its effectiveness and duration.
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