A small engineering firm racked with bank debts and a £10m buyout shortfall was saved from insolvency after trustees agreed a complex debt-for-equity swap, PP has learned.
The company, which asked not to be named, was able to sign a compromise agreement which saw the banks receive a chunk of equity in return for some of the outstanding debt. The trustees in turn effe...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
