Financial and Operational
Restructuring & Turnaround
Holistic crisis management that enables companies to survive financial squeeze and operational inefficiency periods, re-establish their liquidity balance, and grow sustainably.
Our Restructuring & Turnaround Solutions
Explore our core areas of expertise offered for debtor companies and creditor banks.
Independent Viability Assessment
A diagnostic study that independently assesses the company's true financial position, operational capacity, and market conditions before any restructuring commitment. Provides an objective decision framework for creditors, shareholders, and the board answering "is it viable, and under what conditions?"
Axvera Professional Difference
An independent, reliable decision-making tool for companies under financial stress, creditor banks before restructuring decisions, potential investors, and boards of directors.
Financial Position and Cash Flow Diagnosis
Detailed analysis of the company's current balance sheet structure, liquidity position, debt service capacity, and cash generation power.
Operational Capacity & Market Position Analysis
Evaluation of production/service capacity, competitive environment analysis, and sustainability of the company's market position.
Restructuring Scenarios & Feasibility Assessment
Feasibility and return analyses of different restructuring alternatives (operational turnaround, financial restructuring, partial liquidation).
Independent Report for Creditors & Stakeholders
A professionally formatted independent assessment report containing all findings and scenarios, ready for presentation to banks and stakeholders.
Financial and Operational Restructuring
It is the process of providing operational and financial stability to companies under stress, in line with international best practices and crisis management methodologies. We apply a structured 6-step holistic model to quickly stop the bleeding, stabilize cash flow, and restore profitability.
Step 1 — Leadership and Will to Change (Management) (Week 1)
Establishment of a clear communication ground and full commitment of the board and senior executives to the turnaround process.
Step 2 — Situation Analysis (Diagnosis) (Weeks 2-3)
Objective analysis of the company's financial/operational situation, survival probability, and viable business plan potential.
Step 3 — Implementation of Emergency Action Plan (Weeks 4-6)
Executing immediate expenditure controls to stop the bleeding and stabilizing the 13-week operating cash flow.
Step 4 — Restructuring of Operations (Weeks 7-12)
Selling or shutting down unprofitable departments and revising the product range to make the remaining operations profitable and efficient.
Step 5 — Return to Normalcy (Weeks 13-20)
Shifting focus from cash concerns to increasing profitability, return on equity, and market share growth.
Step 6 — Success and Outcome Evaluation (Ongoing)
Independent measurement of the level of achievement of set targets (cash, profitability, control) and verification of stability.
Financial Restructuring (FYY) Process Management
The process of restructuring your debts before banks and financial institutions in favor of your company under the framework of the Banks Association of Turkey (TBB) and BRSA regulations, without interfering with your company's operational structure, management model, or internal organization.
Axvera Professional Difference
Contact our experts to find out whether your financial debts can be included under the legal restructuring scheme and to get a customized pre-evaluation report.
FYY Application & Acceptance Strategy
Determining the compliance of your company with legal FYY criteria, preparing the application file and required feasibility reports completely in accordance with the regulation.
Independent Business Review (IBR) Preparation
Establishing strong financial models showing your company's real debt repayment power and capacity to generate free cash flow, which will serve as a basis for creditor banks' restructuring decisions.
Creditor Consortium & Negotiation Management
Managing the financial negotiations to be carried out with the lead bank and all creditor financial institutions included in the consortium, in favor of your company in terms of maturity, interest rate, grace periods, and collateral structure.
Financial Contract & Covenant Management
Optimizing financial covenants and debt service coverage ratios in the contracts to be signed in line with the approved FYY model, ensuring they do not squeeze your company's cash flow.
Critical Advantage: Legal Protection & Time Recovery
Upon formal initiation of the FYY process, legal follow-ups and execution proceedings by consortium creditors are suspended/not initiated, giving your company breathing room.
Critical Advantage: Full Operational Independence
No operational interference in your internal commercial decisions, product range, departments, or organization chart; focusing entirely on financial relief for the balance sheet.
Independent Business Review (IBR)
It is a legal requirement for companies applying to the FYY scheme before the Banks Association of Turkey (TBB) to obtain an IBR report in order to prepare a sustainable debt repayment plan and reach an agreement with the creditor banks consortium.
Axvera Professional Difference
Our processes are not delegated to junior analysts but conducted under the direct leadership of senior partners possessing BRSA audit, legal regulation framework, and executive banking management experience, governed by high ethical principles and absolute confidentiality.
BRSA Regulation and Operational Perspective Clause
Pursuant to the BRSA Financial Restructuring Regulation, it is essential that restructuring processes do not only consist of postponing maturities but also feature concrete operational improvements and action plans to make company operations sustainable. Within this scope, operational analyses serving as bases for financial models form an intrinsic part of the report.
Axvera Operational + Financial Methodology
We integrate financial modeling with operational action plans. Including operational improvements such as bottleneck analysis, product profitability, and idle capacity detection into the IBR report ensures the highest acceptance rate before banks.
Restructuring Monitoring & Follow-up
We monitor, track, and report post-restructuring processes end-to-end to minimize risks in creditors' restructured receivables portfolios and maximize collection performance. Auditing debtors' compliance with new payment schedules and contract terms under an independent eye creates a secure risk management mechanism for banks and financial institutions.
Axvera Professional Difference
Objective Audit: Independent bridge-building. NPL Risk Reduction: Preventing default through early warning signals. High Collection: Dynamic follow-up ensuring execution of restructuring plans.
Cash Flow & Financial Performance Monitoring
We periodically analyze debtor companies' activities, revenue-expenditure balance, and cash flows; and track updates in repayment capacity instantly.
Contract & Covenant Audit
We strictly audit the performance of financial ratios, asset sale commitments, and specific covenants embedded in restructuring agreements.
Early Warning & Risk Management
Detecting potential deterioration and repayment default risks in the debtor's financial standing early provides a chance to intervene before delays trigger legal enforcement.
Regulatory-Compliant Independent Reporting
Providing transparent, actionable progress reports fully compliant with BRSA and TBB Financial Restructuring (FYY) frameworks, as well as IFRS standards, to the creditor consortium.
Concordat Process Management & Settlement Advisory
Management of the legal concordat process for companies in financial distress, multi-creditor negotiations, and building out-of-court settlement frameworks. We offer end-to-end expert support to protect your company's debt repayment capacity, make the most efficient use of the legal protection shield, and achieve a sustainable settlement with creditors.
Axvera Professional Difference
Led by the founding president of TMA Turkey, we protect your legal rights and establish reconciliation with creditors at the most professional level.
Concordat Evaluation Analysis
Analysis of the company's financial and operational compliance with legal concordat requirements and determination of which restructuring path (concordat, financial restructuring agreement, out-of-court settlement) is more suitable and viable.
Concordat Preliminary Project Preparation
Complete preparation of the legally compliant preliminary project with financial models including cash flow projections, debt service capacity, and proposal scenarios that form the basis for the debt repayment proposal to the court.
Concordat Process Management & Exit Strategies
Management of temporary and definitive respite processes, coordination of relations with the concordat commissioner board, creditor committee negotiations, and execution of a successful exit plan from the concordat.
In-Concordat Restructuring & Accelerated Exit
Evaluation of alternative options such as financial restructuring (FRA), partial asset disposal, or strategic partner entry within the concordat process to accelerate the exit timeline and ensure effective use of the respite period.
Early Warning & Preventive Restructuring
Monitoring systems that detect financial distress signs early and liquidity protection strategies applied before the crisis deepens. We develop proactive action plans by forecasting potential risks in advance to protect your company's cash flow and financial health.
Financial Health Monitoring & Early Diagnosis
Continuous analysis of cash cycle, leverage ratios, and working capital needs to forecast potential liquidity squeezes months in advance.
Preventive Balance Sheet Restructuring
Proactively reorganizing debt maturities and payment plans with banks before the crisis deepens and legal follow-up stages are reached.
Industry Leadership & Trust
Axvera's founder Önder Yılmaz is the Founder and President of the Financial and Operational Restructuring Professionals Association (TMA Turkey | FOYDER). You will work with the experience that directly shapes the legal and practical regulatory aspects of distressed asset management, debt restructuring, and DIP financing for distressed companies.
International Methodologies
In line with international best practices, we integrate globally recognized crisis management methodologies fully compliant with Turkey's legal (Concordat, Multi-Creditor Consensus) regulatory framework.
Let's Evaluate Your Process Together
Initial meetings regarding your company's financial or operational standing are based entirely on strict confidentiality principles and do not entail any commitments.
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