After a successful outcome we are moving forward on the basis of his proposals.
Andrew Fraser, Chairman of manufacturing company
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Acted as financial manager and advisor to a Romanian synthetic rubber, chemicals (MTBE, LPG and Butadiene) and chemical storage plant in Romania in a restart of production leading to a period of profitability before its owners and funders withdrew support due to pressure from their Austrian bank lender group, itself in financial difficulty. Subsequently prepared a sale memorandum for the insolvency administrator and introduced potential international buyers from Asia and Europe to engage in negotiations with the Administrator which are ongoing.
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Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.