Cor Cordis provides a wide range of business advisory services and regularly advises on high profile client matters. We also specialise in a number of industries. A sample of the key projects by service line and industry can be found below.
Independent financial and operational review of a group operating a number of hospitality businesses and engaged in meat processing, trade and export (secured debt of c.$80m). We identified options for the secured lender and customer to improve cash and debt management, internal controls and stabilised the business through the structured exit of underperforming assets.
At its peak, this vocational education student broking and RTO business had revenues of c. $130m and secured debt of c. $40m. However, the group became destabilised after changes to the government’s student funding model. After successfully divesting the group’s assets, the administrators have investigated a number of director related claims, complex shareholder loan trust structures and a Deed of Company Arrangement proposal.
A multi-stage advisory engagement on behalf of a large civil construction group, involving preparing submissions to key stakeholders to agree a standstill period, undertaking the financial modelling to assess a major infrastructure project, and subsequently securing additional funding to support the infrastructure project. Our role has created value for shareholders.
As Voluntary Administrators of Queensland’s third largest egg producer (over 101 hectares under management), we continued the operations of the farm for 5 months, deployed an effective and sensitive stakeholder risk mitigation agribusiness strategy while we restored and rehabilitated the site, and achieved a going concern sale of the business.
Strategic management and recovery of the first portfolio of distressed loans to be outsourced by the Indonesian Bank Authority, with over 1,300 loans with debt c. A$1b.
Voluntary Administrators of a well-known retail group, with 29 stores, 124 employees and secured debt of c. $40m. We successfully managed a large stock realisation program and the sale of residual business and assets to preserve value for the secured creditor.
Voluntary Administrators of a group that manufactures and markets an innovative fire and acoustic rated wall system for the construction industry and employed over 100 employees with secured debt of c. $18m. We traded the group for a number of months and achieved a Deed of Company Arrangement restructure and preserved the group and jobs.
Debt restructure and monitoring of 3rd largest pulp manufacturer in Indonesia with debts of $1.5 billion. Restructuring role included monthly monitoring of trading against restructuring agreement and cash usage.
On behalf of a major financier, we assessed a large domestic and international apparel business, performing an analysis of industry, risk, market and operations, and financial parameters, together with a review of board/management effectiveness. Subsequently, we reviewed the above elements against a restructured financial model and met with group/equity interests to assist the financier with facility renewal.
Voluntary Administration of an ASX listed Nickel miner with operations in Brazil and secured creditors with Hedge Funds owed $260m. The company underwent a restructure under section 444GA of the Corporations Act following significant negotiations with ASX, ASIC and stakeholders.