Restructuring Services

Contingency Planning
 

We have expert knowledge of formal enforcement procedures which, combined with deep situational experience across a broad range of industries, enables us to provide strategic contingency planning advice.

Our approaches focus on the
critical issues in each situation and we support companies, financial stakeholders and potential investors by:
 

• Advising on and developing consensual and non-consensual restructuring plans;

• Developing alternative strategies to an existing restructuring plan, either as a genuine alternative or to expedite a restructuring process;

• Using insolvency to manage onerous liabilities;

• Achieving recoveries in contentious scenarios by using insolvency powers to pursue investigations and asset recoveries.

Insolvency
 

We provide insolvency solutions to companies in the absence of a viable business option. Our breadth of insolvency skills enables our team to design detailed solutions which can be delivered across borders and over a wide range of industries.

Our insolvency and liquidation services include:
 

• Bankruptcy/ Liquidation (Mainland China)
• Court Liquidation (Hong Kong)
• Creditors' Voluntary Winding Up (Hong Kong)
• Members' Voluntary Winding U
  p (Hong Kong)
• Receivership (Hong Kong)
• Personal Bankruptcy and Individual Voluntary Arrangement (Hong Kong)
   

Other Services
 

• Exit & Recovery Services
  
  We are experienced in advising investors on the most appropriate course of action in a situation where the performance of an investment is deteriorating and/or the investor is losing control of operations, particularly in the case of joint venture operations. We advise on appropriate strategies for a successful resolution of the situation to ensure returns are maximized or any loss minimized and the client's reputation is safeguarded. We are experienced in dealing with joint venture partners in Mainland China and other stakeholders to gain maximum leverage out of its limited tools available to exit such investment.
  
  
• Closure Management
  
  Our team offers a full range of closure management services in assisting clients to wind down a business properly in a timely and effective manner.
  
  We can act as the lead project manager to assist in the formulation and orderly implementation of a restructuring plan which may include the closing down or disposal of loss making or non-core business/operations. Our services include prioritizing work and coordinating multidisciplinary advisors so as to ensure that relevant concerns are properly addressed and the necessary services are delivered in a consistent and timely manner.
  
  
• Estate Administration
  
  We have a team of professionals experienced in managing and administrating businesses and estates of deceased persons or persons for whom the court has made a relevant appointment under the Mental Health Ordinance.
  
  We have a proven track record of adding value for stakeholders in complex situations.

Where companies are facing financial, operational and/or industry challenges, our team is able to offer support with a distinct range of services to the company's management to ensure that stakeholder value is protected. It typically involves position review and an options/ scenario analysis, aiming to bring synergies and incremental value to performance improvement.

A position review is often requested by stakeholders in order to establish a sound basis on which to negotiate and move forward. Our position reviews provide real commercial, operational and financial challenges to management’s business plans and an evaluation of the risks and potential upsides of the forecasts. We establish a realistic set of “post-vulnerability” numbers which form a basis upon which stakeholders can assess with confidence future profits and cash flow, and the value of the business.

Early identification, evaluation and prioritization of the options available to stakeholders are key to achieving a successful improvement in performance. There could involve a covenant reset, refinancing, amending and extending, performance improvement, sale of all or part of the non-core assets/ business, etc. We can assist clients with the preparation of robust ‘bankable’ business plans which form the basis for successful performance improvement.

Corporate Restructuring Advisory
 

In the event that companies are unable to meet near-term obligations and there is a risk of default or failure in the short to medium term, we offer a distinctive end-to-end approach to:-
 

• Stabilize the business from a financial, cash and operational perspective;

• Identify and manage the key stakeholders;

• Understand the key financial and operational issues facing the business;

• Prepare a regularization plan with buy-in from the bank creditors;

• Ensure that there is a viable contingency plan should ‘Plan A” not be successful;

implement a performance improvement solution.