Appointed to act as an alternate director to the board of directors. The appointment as director was to a Cayman holding company which maintained a controlling interest in a California based Group of companies engaged in the development and manufacturing of electronic-automobiles. The Group had substantial manufacturing operations in Southern California, Silicon Valley, and in the PRC and maintained over 1,400 employees worldwide. Our work as alternate director was to consider and advise on the business and financial affairs of the Group, daily monitoring of working capital, consideration of third party fundraising, sale of assets of the Group, dealing with contentious supplier demands and facilitating the legal proceedings underway in Hong Kong. While undertaking this work, the board of directors considered the restructuring options available to the stakeholders including seeking a white knight investor and / or seeking relief under Chapter 11 of the Bankruptcy Code.
Manufacturer – Electronic Automobiles