This was a great outcome for the directors, the project and creditors.
French Duncan’s Restructuring team was approached by directors and shareholders of a small renewables company. The renewables company was in the “build phase” of its development and had ran into difficulties with its funding provider. It was seeking breathing space from its creditors whilst it sought to re-negotiate with its funders.
WHAT WE DID
The restructuring team advised the directors to put the company into administration with the aim of firstly giving the company a moratorium from its creditors with the aim of rescuing the company as a going concern.
HOW WE HELPED
Following the administration process, the licences for the renewables project were marketed and sold through the open market to the existing management and the worldwide fixed assets were sold. This was a great outcome for the directors, the project and creditors.