About ICRA Systems

Built by restructuring practitioners, for restructuring practitioners

ICRA Systems was conceived and developed by Hermes Advisory B.V., a specialist restructuring advisory firm.

For well over a decade Hermes Advisory has advised on financial restructurings, valuations and financial investigations. Since 2010 its partners have also trained insolvency lawyers, among other things in negotiation in financial restructurings.

The idea behind ICRA Systems was simple. Restructuring plans had become a powerful tool for saving viable businesses, but the cost of the process threatened to put them out of reach for most companies. By capturing years of experience in restructurings, special asset management and leveraged finance in software, the routine work could be automated and the advisory costs reduced.

Pieter van Prooijen designed the application, which was developed with government support during the COVID-19 crisis and went live in January 2021. Because all the knowledge accumulated within Hermes Advisory is built into it, ICRA Systems can be used for any type of creditor agreement, in any jurisdiction. It is now being rolled out internationally.

Hermes Advisory:

“Our team consists of registered valuators and registered accountants listed in the national register of court experts, and former special asset management professionals. We speak the language of capital providers and restructuring lawyers, and we are fully-fledged sparring partners in restructuring procedures.”