Petrochemicals

Shareholder Dispute, Valuation & Sale

Appointed Receivers and Managers of the operator of one of the world’s largest petrochemical plants with a project cost of USD 2.4 billion (“Project”). Our work has involved taking control of the Project, including by replacing directors and managers and implementing necessary internal and other controls; establishing the financial and operational position of the Project; recommending, negotiating and implementing tolling arrangements for the Project; securing, negotiating and documenting a USD 55 million loan facility to fund the tolling arrangements; assessing and implementing necessary initiatives to ensure operational readiness of the Project and to facilitate a successful restart; identifying and implementing optimisation and cost rationalisation initiatives to maximise economic value of the Project; and establishing and implementing realisation options for the Project including undertaking an international sale process for all or part of the Project’s assets.

Key People