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• Business & Operational Restructuring
• Corporate Recovery & Insolvency
• Business Review, Forensic Investigations & Expert Witness
• Due Diligence, Corporate Advisory and Directorships
BW India
Beijing | British Virgin Islands | Cayman Islands | Hong Kong | Jakarta | London | New Delhi | Shanghai | Singapore www.borrelliwalsh.com
Delivering bold and innovative solutions to challenging business and operational problems
Borrelli Walsh is a leading specialist advisory firm with a dedicated team of over140 professionals and staff across offices in Beijing, British Virgin Islands,Cayman Islands, Hong Kong, Jakarta, London, New Delhi, Shanghai andSingapore.
We focus exclusively on:
• Business & Operational Restructuring• Corporate Recovery & Insolvency• Business Review, Forensic Investigations & Expert Witness• Due Diligence, Corporate Advisory and Directorships
Our expert team has an established reputation for hard work, tenacity andintegrity. We have a proven track record of delivering practical and efficientsolutions in our chosen areas in Asia Pacific, the US and internationally.
Our Managing Directors and Directors have real hands on involvement in allprojects.
Key clients include asset reconstruction companies, private equity and specialsituations funds, bondholders, trustees, local and international banks, lawyers,listed and private companies, regulators and industry bodies, governmentdepartments and promoters.
Borrelli Walsh has a strong reputation for delivering results to complexproblems through hard work, innovative and practical solutions throughout theUSA, Caribbean, Asia Pacific region and internationally.
We work with our clients and other stakeholders in small and experiencedgroups and focus on providing strategic direction and momentum and avoidingor resolving financial and operational problems and enhancing and realizingvalue in a low risk and well considered environment.
We have established relationships with well experienced and like-mindedinternational contacts in a broad range of professional and commercialdisciplines and industries.
Of paramount importance is our discretion and our loyalty to our clients.
Introduction to Borrelli Walsh
2
BUSINESS AND OPERATIONAL RESTRUCTURING
• Crisis and interim management (Chief Restructuring Officer)
• Performance improvement
• Independent Financial Advisors and Reporting Accountant
• Formal and informal restructurings and workouts
• Cash and working capital management
• Supplier, trade creditor and cashflow management
• Schemes of Arrangement and Judicial Management
• Indonesian Suspension of Debt Payment Obligation (Penundaan Kewajiban Pembayaran Utang or “PKPU”)
• Chapter 15 of the US Bankruptcy Code
CORPORATE RECOVERY AND INSOLVENCY
• Compulsory, Creditors and Members Voluntary Liquidations
• Court and Private Receiverships
• Bankruptcy and Individual Voluntary Arrangements
Services
BUSINESS REVIEW, FORENSIC INVESTIGATIONS & EXPERT WITNESS
• Shareholder disputes and litigation support
• Independent reviews
• Asset tracing, retrieval and realisation
• Business and accounting reconstruction and analysis
• Regulatory and money laundering investigations
• Computer forensics and eDiscovery
• Quantifying losses
• Corporate governance advisory
• Investigating service provider negligence, including auditors and underwriters
• Expert testimony
DUE DILIGENCE, CORPORATE ADVISORY AND DIRECTORSHIPS
• Executive and non-executive directorships
• PRC Legal Representative appointments
• Capital structure and corporate governance advisory
• Acquisition and due diligence of entities, debt and assets
• Valuations and divestments of entities, debt and assets
3
Experience
4
GETIT INFOSERVICES
Directors to an Indian infoservices company –
strategized its liquidation and investigation into possible
mismanagement
India
Media
MFE FORMWORK
Chief Restructuring Officer of a formwork construction
company - advised its post-restructuring and sold business
to a PE Fund
India - Malaysia
Formwork
JASPER OFFSHORE
Director to a shipping company – advised its
restructuring, maximised recovery and sold business to
an LSE-listed company.
India - Singapore
Offshore Drilling
MERCATORLINES
Independent Financial Advisor to a dry bulk shipping
company in its restructuring
India - Singapore
Dry Bulk Shipping
GEODESIC TECHNOLOGY
SOLUTIONS
Receivers to the Hong Kong subsidiary of an Indian technology company
India - Hong Kong - Singapore
Technology
FIRST ENGINEERING
Independent Financial Advisor to bank syndicate following restructuring of a plastics
engineering business – achieved exit for syndicate after sale of
business to PE fund
India - Singapore
Manufacturing
UTTAM GALVA
Receiver of a subsidiary of one of India’s largest steel
manufacturers
India - BVI
Steel
SIVA SHIPPING
Receivers of a Indian shipping and bulk trading group –resulting in a sale of the
business
India - Singapore - Norway - Mauritius -Marshall Islands - UK - USA -
Cayman Islands
Shipping
LAVA INTERNATIONAL
Independent Financial Advisor to a China-based manufacturer –undertook asset tracing and established its investment
recovery options and strategy
India – Hong Kong - China
Telecommunications
ESSAR CAPITAL
Receivers of a global investment fund with assets in
India, Cayman Islands, USA and the UK.
India - Cayman Islands - USA - UK
Oil & Gas
USD$25,000,000 USD$165,000,000USD$300,000,000
USD$35,000,000 USD$33,000,000
USD$200,000,000
USD$30,000,000
USD$3,000,000,000
USD$25,000,000USD$160,000,000
TIMIS MININGCORPORATION
Receiver over secured assets of a mining company
Sierra Leone
Mining, Oil & Gas
DUNIATEX GROUP
Independent Financial Advisor to more than 20 offshore
banks in the restructuring of the Indonesian textile
conglomerate
Indonesia
Textiles
TAIZINAIGROUP
Independent Financial Advisor to a syndicate to conduct
independent review of a drinks manufacturer and wholesaler in
PRC, and its restructuring
Cayman Islands - PRC
Food and Beverage
PANASIALUMHOLDINGS
Directors to a BVI company with controlling interest
holding of 75% of Hong Kong listed Aluminium company
Hong Kong - PRC - Australia - UK
Aluminum
USD$154,000,000 USD$137,000,000USD$225,000,000 USD$4,000,000,000
DQ ENTERTAINMENT
Independent Financial Advisor to an Asian investment fund –appointed Receivers over an
Irish animation and visual effects production company
with operations in India
India – Ireland – Hong Kong
Media
USD$110,000,000
CONERGY
Independent Financial Advisor to two large US funds – established the financial affairs and valuation
of the business with Asia & Middle East operations and
conducted its sale
Cayman Islands - Singapore
Renewable Energy (Solar)
USD$87,000,000
PT BAYAN RESOURCES TBK
Independent Financial Advisor to a bank syndicate with loans to the leading coal company in Indonesia and its restructuring
Indonesia
Coal
USD$750,000,000
Experience
5
JURONG AROMATICS
CORPORATION
Receivers of one of the world’s largest petrochemical plants – sold for more than
three times its initial sale value
Singapore - Korea
Petrochemical
HYFLUX
Independent Financial Advisor to unsecured lenders of a
utilities company – valuation of company’s enterprise value
and led negotiations
Singapore
Utilities
BERLIAN LAJU TANKER
Chief Restructuring Officer to a dual listed shipping company
and led its restructuring efforts
USA - Indonesia - Singapore - Hong Kong
Shipping
CHINA FORESTRY
Liquidators of offshore holding company of the Group engaged in forest
management – investigate into issues and stabilise business
Hong Kong – Cayman Islands - PRC
Forestry
CELESTIALNUTRIFOODS
Independent Financial Advisor to a manufacturer of soy protein-based food and
beverage products
Singapore – Bermuda - PRC
Food & Beverage
PT TRIKOMSELOKE TBK
Independent Financial Advisor to senior lenders and
bondholders to a retail telecommunications company
Indonesia - Singapore
Telecommunications
OM HOLDINGS
Independent Financial Advisor to the Australian listed mining,
manufacturing and trading company
Malaysia – Singapore - Australia
Manganese
TOWONAMEDIA
Receivers over all shares of a BVI holding company which
operates a TV media business in PRC by a private equity
bondholder
Singapore
Media
PAYEASE
Receivers of a Group involved in mobile and online payment services – due diligence and
sale of business
PRC
Fintech
BUMI RESOURCES
Independent Financial Advisor to bank syndicates of a family controlled coal Group in its
restructuring
Indonesia
Coal
SOUTH BEAUTY
Independent Financial Advisor to a PE-owned restaurant
chain in the stabilisation and the sale of the business
PRC
Food & Beverage
Debt: USD$2,400,000,000Sale: >USD$1,500,000,000 SGD$3,000,000,000 USD$2,000,000,000
USD$235,000,000
USD$110,000,000 USD$4,000,000,000
USD$3,000,000
USD$425,000,000 USD$65,000,000USD$550,000,000
USD$139,000,000
SAMUDRA ENERGY
Directors to the Company by PE funds and banks to
restructure the oil & gas exploration and production
company
Indonesia
Upstream Oil & Gas
AKAI HOLDINGS
Liquidators of consumer electronics product
manufacturer – largest corporate collapse in Hong
Kong at that time
Hong Kong - Japan - USA - PRC
Electronics
CHINA METAL
Liquidators to one of the largest scrap meal recycling
companies in PRC –investigation into fraud and
stabilise operations
Hong Kong - Macau - PRC
Scrap Metal
CHINA RESOURCES TRANSPORTATION
GROUP
Independent Financial Advisor to state-owned enterprise bondholder in the bond
default of the Hong Kong-listed timber company
PRC – Cayman Islands
Infrastructure
USD$130,000,000USD$130,000,000 USD$537,000,000USD$800,000,000
GLOBAL RESTRUCTURING REVIEW
• Names to know in Hong Kong and China 2019 – Cosimo Borrelli, Jacqueline Walsh, Michael Chan
• Names to know in Indonesia 2019 – Ben Crilly, Fitri Rachmawaty, Wielmen Rumli
• Names to know in Singapore 2018– Annabelle Cai, Mark O’Reilly
INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
• Woman of the Year in Restructuring in Asia 2019 - Winner– Jacqueline Walsh
TURNAROUND MANAGEMENT INDIVIDUAL AWARD
International Chapter Impact 2019– Jason Kardachi
WWL WHO’S WHO LEGAL
• Asset Recovery Experts 2019, 2020 – Global Elite Thought Leader– Cosimo Borrelli
• Restructuring & Insolvency Advisors 2019, 2020 – Recommended– Cosimo Borrelli, Annabelle Cai, Mark O’Reilly
IFLR ASIA AWARDS
Restructuring Deal of the Year 2016- Berlian Laju Tanker
THE BANKER
Asia Pacific Restructuring of the Year 2016- Berlian Laju Tanker
THE ASIA LEGAL AWARDS
Finance Deal of the Year: Insolvency 2016- Berlian Laju Tanker
Awards
6
SAJEVE DEORADirectorT +91 11 4354 0950M +91 98 1190 3450E [email protected]
Sajeve Deora has over 30 years’ experience with the turnaround ofbusinesses and financial restructurings in India. Sajeve is an InsolvencyProfessional registered with the Insolvency and Bankruptcy Board ofIndia and is also listed on the panel of Arbitrators maintained by theInstitute of Chartered Accountants of India.
COSIMO BORRELLIManaging DirectorT +852 3761 3800M +852 9492 6393 E [email protected]
Cos is a Certified Public Accountant with over 25 years of experiencein formal and informal corporate advisory and restructuring, mergersand acquisitions, forensic accounting and financial investigations. Coshas led and worked on numerous assignments in India during hiscareer – including Essar Capital, Getit Infoservices, Jasper Offshore,Mercator Lines, Geodesic Technology and Siva Shipping.
JASON KARDACHIManaging DirectorT +65 6603 0795M +65 9101 2123 E [email protected]
Jason is based in Singapore and leads the firm’s restructuring,insolvency and forensic work in Singapore and South East Asia. Jasonhas led and worked on numerous assignments in India during hiscareer – including Essar Capital, MFE Formwork, Mercator Lines,SphereInvest and First Engineering.
Core Team
7
Offices
August 2020
BEIJINGRoom 4203Fortune Financial CenterNo. 5 East Third Ring Middle RoadChaoyang DistrictBeijing 100020, PRCTel: +86 10 5911 5388
BRITISH VIRGIN ISLANDS3rd Floor, Commerce HouseP.O. Box 3339, Road TownTortola VG1110British Virgin IslandsTel: +1 284 340 5888
CAYMAN ISLANDSPO Box 30847Strathvale House, 3rd Floor90 North Church Street, Grand CaymanKY1-1204 Cayman IslandsTel: +1 345 743 8800
HONG KONG17/F, Tower 1Admiralty Centre18 Harcourt RoadHong KongTel: +852 3761 3888
JAKARTAWorld Trade Centre 2, 9/FJl. Jend. Sudirman Kav. 29-31Jakarta 12920IndonesiaTel: +62 21 3000 2228
LONDON7/F Holborn Gate26 Southampton BuildingsLondon WC2A 1ANUnited KingdomTel: +44 20 7661 7980
NEW DELHI117, New Delhi House 27 Barakhamba RoadNew Delhi 110001, IndiaTel: +91 11 4354 0950
SHANGHAIRoom 3209, Plaza 661266 Jingan District, Shanghai P.R. China 200040Tel: +86 21 5255 4600
SINGAPOREOne Raffles PlaceTower 2, #10-62Singapore 048616Tel: +65 6327 1211