Restructuring & Insolvency
Cryptocurrency – Cubits Exchange Insolvency
Cubits used PaySec to overcome the payment restrictions in place in China. PaySec was responsible for the cash settlement of BTC purchased by Cubits’ Chinese customers. The accounts of three Chinese customers were allegedly hacked.
Manufacturing – Failure of integration creating cash flow issues
Losses were encountered, sales were lower than anticipated coupled with greater than forecast direct costs due to delays encountered in integrating the businesses and achieving the growth needed.
Construction – Cash flow challenges
Due to greater than expected groundwork costs the developer had run out of working capital. The units were structurally complete but required internal finishing. The primary lender was faced with little option than enforcement action.
December 4, 2020
Opus Business Advisory Group has taken another significant step as it grows its ability to offer business advisory services to businesses throughout the United Kingdom. […]
December 3, 2020
A Company Voluntary Arrangement (CVA) is essentially a deal with unsecured creditors to pay a percentage (or all) of sums owing. There are also similar […]
December 2, 2020
The Current Business Challenge The world is experiencing the biggest Global pandemic in living memory. Many aspects of business life as we knew it have […]
December 1, 2020
Opus Business Advisory Group continues to grow its UK presence and recently opened its doors to a new office in Bristol. This is their 6th […]