Truevera was engaged to undertake a review of potential options relating to a Singapore based Global Engineering firm’s distressed Vietnamese subsidiary.  

Challenge

The client has operated in Vietnam for over 14 years and had run into financial difficulty following a slowdown in their domestic business coupled with a large onshore litigation and taxation audit which left the company with significant penalties.   

Solution

Truevera proceeded to conduct a review of the client’s Vietnamese business which include the cashflow impacts and qualitative risks with respect to various scenarios including (a) continuation operations, (b) solvent liquidation & deregistration, (c) sale to an SPV and (d) immediately ceasing operations / onshore bankruptcy. 

Results

This matter is ongoing.