After a successful outcome we are moving forward on the basis of his proposals.
Andrew Fraser, Chairman of manufacturing company
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A US group in Chapter 11 wished to exit its European operations, in the UK, France and Netherlands, and repatriate cash to the USA. BM&T advised on the optimum processes in each country and managed the orderly liquidation of assets in UK and Netherlands to generate cash for repatriation. BM&T also managed the sale process of the French company in a management buy-out, thus avoiding the very high French “Social Plan” lay-off costs in a closure that would have triggered European intercompany guarantees and reduced the funds available for repatriation from Europe.
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Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.