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About: Chief restructuring officer     Goto   Sponge   NotDistinct   Permalink

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Type: personyago:WikicatLegalProfessionsyago:WikicatManagementOccupationsyago:Abstraction100002137yago:Act100030358yago:Activity100407535yago:Body107965085yago:Event100029378yago:Group100031264yago:LegalProfession108112402yago:Occupation100582388yago:OccupationalGroup108403631yago:Profession108112096yago:PsychologicalFeature100023100yago:YagoPermanentlyLocatedEntityyago:SocialGroup107950920 New Facet based on Instances of this Class

A chief restructuring officer (CRO) is a senior officer of a company given broad powers to renegotiate all aspects of a company's finances to deal with an impending bankruptcy or to restructure a company following a bankruptcy filing. The use of CROs, who usually have an expertise in the field of business in which the company operates, has been increasing in popularity since the 1990s. CROs are sometimes seen as an alternative to using a trustee in bankruptcy in a reorganization bankruptcy, because the trustees may not be knowledgeable in field of business conducted by the company.