Call us on

+27 82 447 4256 / +61 402 048 326

Problem loans


Our restructuring experience includes:

    1. Two years doing formal insolvency work in the chartered accounting profession
    2. Numerous in-house restructuring assignments in commercial banking, including two years at a major Australian bank, following the 1988 Australian property collapses
    3. Two years corporate financial advisory (including restructuring) with a ‘big 4” accounting firm in Indonesia
    4. Three years responsible for restructuring the private sector debt & equity portfolio of the Asian Development Bank (‘ADB’)
    5. Six months mediating bad debt restructuring negotiations under a USAID contract in Indonesia.

Investment

Strategy, and Approximate exposure

Comment
Asia
Manufacture of ceramic tiles Restructuring and/or early payout negotiations Advised a European development bank on negotiations which resulted in a US$1 million increase (approx 25%) in agreed payout to lenders
Various Restructuring negotiations As a Senior Mediator for the Jakarta Initiative Task Force, I was the nominated mediator, for a while, for projects including PT Semen Cibinong (debts of about US$1.3 billion) and PT Barito Pacific Timber (debts of about US$800 million)
Manufacture of wrapping film Restructuring negotiations As a Senior Mediator for the Jakarta Initiative Task Force, I was the nominated mediator, and succeeded in achieving a compromise settlement on a long outstanding US$400 million non-performing loan
Manufacturer of steel pressure vessels

Acquisition

US $50 million

Devised and negotiated scheme for recapitalization of company by minority German shareholder
Carrageenan manufacturer, Philippines

Liquidation, by sale of business

US $7.5 million

Worked with consortia of lenders to two borrowers, pressurized sponsor to agree to sell, devised structure for two companies to be sold into new company, with new strategic and financial investors
Tomato paste manufacturer, Philippines

Liquidation

US $7 million

Devised structure which resulted in three sponsor groups agreeing to (a) hand over assets to secured lenders without litigation, and (b) put up funds to meet specific unsecured creditors that might obstruct re-start of operations
Waste oil recycling, Indonesia

Workout through recapitalization

US $17 million

Commissioned due diligence that identified side-streaming in company, Devised structure for hand-over of control to secured lenders and/or nominee buyer, and negotiated deal with sponsors/guarantors
Specialist pipe manufacturer, Indonesia

Workout through recapitalization

US $18 million

Commissioned due diligence to establish whether there is underlying viability; devised and achieved agreement for restructuring/recapitalization plan involving international company acquiring control.
Acrylic manufacturer, India

Liquidation

US $4.5 million

This company, which owed the Bank $4.6 mn) had paid nothing in more than 5 years. I was able to negotiate a settlement, for about $7 mn, payable over 12 months.
Truck tyre manufacturer, Nepal

Workout

US $2.5 million

This company had been restored to profitability at EBIT level, but with unsustainable debt levels. I was able to negotiate with Nepali lenders and Government of Nepal a compromise, rescheduling and recapitalization that will enable the company to return to sustainable profitability
Australia
Private hospital manager

Workout

A $10 million

Introduced strategy, replaced chairman/founder and senior operating staff. Company is now viable, controlled by international health care company
Diversified organic waste recycling & garden product manufacturer

Workout, and eventual sale of business

A $5 million

Imposed management and reporting controls, and elimination of unviable businesses. Company was profitable at EBIT level when I left, and eventually sold as going concern to major Australian waste company
Shopping centre specialising in hardware, homeware and decorator lines

Workout, and eventual sale

A $13 million

Took physical possession, appointed new centre managers, worked with them to enhance rental receipts and capital value. Increased value from $4.5 mn to over $13 million in 18 months. Centre sold for a 75% recovery of principal.

contact details

South Africa: +27 82 447 4256

Australia: +61 402 048 326

E-mail: amra@amcrobertandassocs.com.au