With the ever increasing globalisation of trade and investment, it is clear that distressed businesses with overseas stakeholders will become more and more common place. Those involved will need to seek advice and assistance in territories where they may have little or no relationships and may feel exposed to the risk of local management and advisors seeking to improve their position over the foreign investor/stakeholder.
Within Cork Gully we have extensive cross border and international expertise and have developed an understanding of the needs of stakeholders across many countries, are quick to grasp the local cultural dynamics and are experienced at working with management and stakeholders in difficult and challenging times. Our experience covers many countries and sectors, for example in the past few years directors and staff have been involved with assignments for the World bank in Bosnia, restructured a publishing house with businesses across Europe, acted as Chief Restructuring Officer for a pump manufacturer with operations across 20 countries as well as leading the turnaround of a major international manufacturing group where cash generation was critical to its survival. We have also acted as Administrator across a number of groups with subsidiaries or business interests overseas, including US, Japan, Germany and Hong Kong
Our Senior Partner has extensive knowledge and experience of many jurisdictions having built a major accounting practice with operations in nearly 50 countries. He has lead trade missions to most continents and currently chairs an advisory board of a European bank. He also acts as an adviser to the Chinese province of Shangdon where he works closely with the Governor. In addition one of our Managing Directors whilst a partner in PwC, was seconded to Asia during the collapse of the region’s economy and worked extensively with both local and international stakeholders.
Building on the above, our ethos is to develop and maintain an extensive network of like-minded professionals who operate in the restructuring and insolvency sphere and who understand the need to seek local advice from experienced and established contacts. This enables the client and his advisor to feel comfortable in the knowledge that they are dealing with trusted professionals where a relationship has already been established.
With our extensive experience on international and cross border assignments, we have worked with numerous overseas stakeholders and their advisors and understand the need to create a trusted relationship. The ability to make contact with a fellow professional who will be able to relate to the problems being encountered by the stakeholder is always a great confidence booster and experience says that this leads to the client and their advisor making a quicker decision to grasp the situation when faced with the unknown consequences of an under-performing business.