Swift Restructuring Restores Hong Kong Petrochemical Company Limited to Stability
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August 14, 2024
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After the High Court of Hong Kong ordered the winding up of Hong Kong Petrochemical Company Limited, one of Hong Kong’s few remaining petrochemical companies, FTI Consulting was appointed to serve as the Joint and Several Liquidators.
Our Impact
- FTI Consulting’s plan to restructure more than USD100 million of the company’s debts was approved by creditors and sanctioned by the High Court of Hong Kong.
- Our experts stabilized the client’s operations and completed a holistic process to seek investors’ interest, efficiently completing the restructuring in seven months.
- Our work maximized the creditors’ recovery and proved the value of Hong Kong's local industrial enterprises.
- Following the completion of the restructuring, the company was able to resume normal operations.
Our Role
- FTI Consulting conducted a comprehensive and holistic bid process to solicit investors’ interest.
- Our experts led interim operation management, stabilized the company’s operations and maintained a continuous dialogue with creditors.
- The team developed and proposed a restructuring plan to restructure more than USD100 million of the company’s debts.
Published
August 14, 2024
Key Contacts
Senior Managing Director, Head of Asia Corporate Finance & Restructuring
Senior Managing Director
Senior Director