CIGA Restructuring Plan
10 Plans in and it is evident that the onus is firmly on the company proposing a Plan to provide evidence that the ‘no party worse-off’ test is passed, which centres around the relevant alternative valuation exercise. Whilst process and best practice may still be taking shape, it is clear that: Broad consideration of the possible alternatives based on insight from the best-placed and best-informed parties is expected Valuation analysis should be thorough, technically on-point, commercially rational and robustly supported with outcomes clearly demonstrated Full and early disclosure is valued by the court and sharing with all materially impacted parties may become the norm
Full and early disclosure is valued by the court and sharing with all materially impacted parties may become the norm. Phil Reynolds Restructuring Advisory
FRP has a dedicated valuation team that has conducted numerous independent valuations in support of domestic and international restructuring processes and a team of restructuring, insolvency, and corporate finance advisers with considerable experience of advising and trading companies through processes, and realising value through accelerated sales, liquidation and other means. We recognise the importance of bringing the right blend of experience to a particular situation, and ensure that consideration of the relevant alternative, understanding of the practical realities of complex and uncertain exit strategies, and the valuation analysis itself are led by the right advisers.
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