Contact: Melinda Loew
Deloitte
Media & Communications Manager
+61 2 9322 7146
Contact: Chris Campbell
Deloitte
Partner - Corporate Reorganisation
0414 427 338
Deloitte has been ranked Number 1 non-investment banking firm for global corporate reorganisation services for second quarter in a row.
Leading US corporate finance publication The Deal (www.thedeal.com) rated the firm as global leaders for its corporate reorganisation services in its first-quarter 2006 bankruptcy league table.
Globally, Deloitte was involved in 283 bankruptcy cases as of 31 May, 2006, the highest number of any non-investment banking firm.
Of the 283 cases Deloitte was involved, 39% were active assignments in Australia.
Deloitte’s Corporate Reorganisation group leader in Australia, Chris Campbell, said the firm is very proud to be acknowledged as the Number 1 firm globally for our services.
"The Australian Corporate Reorganisation group has this year seen significant growth well above targets, with a 13% plus increase in revenue and people.
"Although the economy is relatively stable, there will be further growth in corporate restructuring as the price of petrol starts to work its way through the supply chain and some industries face radical changes.
"We are seeing assignments increase in industries such as property and construction, wine and manufacturing. There is also continuing pressure on retail and consumer products sectors.
"However, business distress is not all about exits - it’s about problem solving. For manufacturers this might involve moving operations offshore, acquisition activity for market consolidation or investment in new technology to be more competitive.
"You always look at the problem and depending on the industry, work out how you can get the best outcome for everyone which often involves not always following the most obvious route.
"Applying multi-disciplinary thinking, and being able to consistently deliver results for clients, is what differentiates Deloitte from others in the marketplace," Mr Campbell said.
