Founder-led advisory in distressed, transitional and cross-border environments. We act for boards, creditors, investors and insolvency practitioners — selectively and with senior-led execution.
Our services"In emerging markets, we face situations where nothing is allowed and everything is possible."
Marcus Paciocco — FounderTruevera is a founder-led advisory firm operating across Asia-Pacific and internationally. We advise in distressed, transitional and cross-border environments — acting for boards, creditors, distressed investors and insolvency practitioners in matters that require senior execution and discretion.
Established in 2019, our engagements are selective. We operate where standard advisory does not reach: complex special situations requiring hands-on leadership, cross-border coordination and forensic rigour.
For liquidators, auditors, PE funds and listed companies facing indefinite closure timelines, non-auditable subsidiaries and cross-border governance exposure — Truevera's platform provides a structured exit. We acquire entities on an as-is basis, assume director responsibility, and manage the tail.
We act in complex matters requiring senior-led execution and discretion. Engagements are selective. The work below reflects where we operate.
Design and negotiation of structured debt solutions that preserve enterprise value while balancing creditor interests. We work across bilateral and multi-creditor environments to implement pragmatic, commercially viable restructuring frameworks.
Focus is placed on execution rather than advisory reports.
Financial investigation and reconstruction in distressed and contentious environments. We conduct targeted forensic reviews where transparency, recovery and evidentiary integrity are critical.
Typically engaged in support of creditor enforcement, insolvency processes or contested restructurings.
Hands-on executive leadership in distressed or transitional situations. We assume operational responsibility where immediate stabilisation, liquidity protection and stakeholder coordination are required.
Engagements are senior-led and execution-driven.
Multi-jurisdiction coordination of debt, enforcement and distressed asset strategies. We advise in matters involving Asia-Pacific and international stakeholders where legal, financial and strategic execution must align across jurisdictions.
We operate alongside legal counsel and insolvency practitioners where required.
Truevera is founder-led with senior partners operating across Asia. Every engagement is led and executed at partner level — no delegation to junior staff.
"Marcus specialises in contentious, cross-border and high-pressure situations requiring commercial pragmatism, investigative instincts and a higher tolerance for complexity and execution risk."
"Combining forensic rigour with deep China market experience across contentious, sensitive and high-risk situations."
All engagements are anonymised or publicly known. Includes current active mandates. Filter by type below.
Appointed restructuring advisor to facilitate a global rationalisation of Firemane's subsidiaries, resulting in a USD 6 million decrease in consolidated liabilities. Firemane operates across 40+ countries distributing POS terminals and payment solutions. This matter is ongoing.
Appointed as Interim General Director and Legal Representative of Cavagna Group's Vietnam operations. Cavagna Group is an Italian world-leading manufacturer across LPG, medical gas, industrial gas and natural gas sectors, with operations in over 50 countries. This matter is ongoing.
Carved out a non-performing and dormant Indonesian subsidiary of Rascal Republic — a Singapore-headquartered experiential investment group — and appointed a resident shareholder and Commissioner, enabling the issuance of a non-qualified audit report for fundraising purposes.
Appointed Chief Restructuring Officer of SSE Steel, located in Haiphong, Vietnam to restructure USD 100 million of onshore and offshore debts via a Singapore S64 Scheme of Arrangement.
Appointed Non-Executive Director of Agritrade Resources Limited, a Hong Kong-listed company, to facilitate a restructuring on behalf of provisional liquidators appointed in the Cayman Islands.
Engaged by a major investor to undertake a forensic investigation into the historical trading patterns and related-party transactions of a portfolio company in Vietnam.
Appointed Director in BVI and Labuan to investigate the collapse of City Credit Bank, which had operations in Labuan, Shanghai, Tokyo and Singapore.
Appointed Director to investigate the affairs of a company which was under investigation by US law enforcement, requiring cross-border coordination and evidentiary management.
Engaged by Lendable to conduct reputational due diligence and specific intelligence relating to an investigation by the Ministry of Public Security regarding one of their portfolio companies in Vietnam.
Engaged to provide an assessment of divestment and exit options relating to two operating subsidiaries located in Hanoi and Ho Chi Minh City for an international engineering and infrastructure group.
Engaged on multiple mandates in Vietnam to provide investigative due diligence on several targets across a range of sectors and geographies on behalf of a prominent British strategic advisory firm.
Engaged by Tecnicas Reunidas to undertake an asset investigation into a State-Owned Enterprise listed on the Hanoi Stock Exchange, mapping asset ownership and recovery prospects.
Engaged to undertake due diligence on the Thailand and China operations of DSG, an SGX-listed interior fit-out manufacturer, and subsequently to wind down its operations across both jurisdictions.
Appointed Director of a Delaware company to facilitate the wind-down by the Judicial Manager in Singapore, providing cross-border governance support and execution across multiple jurisdictions.
Appointed as legal representative to take control of two Vietnamese companies in order to wind down the business and investigate the affairs of the entities on behalf of investors.
Appointed as Chief Financial Officer on an interim basis to provide financial leadership, reporting oversight and stakeholder management for a regional air quality solutions business.
Appointed Director of Kira Pharmaceuticals's Hong Kong and China subsidiaries to provide governance oversight and senior-level executive management on an ongoing interim basis.
Appointed as Chief Financial Officer on an interim basis, providing financial governance, reporting and operational financial management for a pharmaceutical corporation across its regional operations.
Appointed Director of a Hong Kong real estate company on behalf of shareholders, providing interim governance and executive oversight at board level on an ongoing basis.
Appointed as Interim Legal Representative for Seko's joint venture entity in Ho Chi Minh City, providing onshore governance and regulatory compliance management for the operating business.
Appointed Director with respect to two BVI entities and three Labuan entities to facilitate the liquidation of the relevant structures across both jurisdictions on an ongoing basis.
Engaged by a major investor to undertake a forensic investigation into the historical trading patterns and related-party transactions of a target entity on behalf of a white knight investor.
Engaged to undertake an asset tracing investigation into a partially State-Owned Enterprise listed on the Hanoi Stock Exchange that was subject to an international arbitration claim.
Engaged by Convertible Note holders to investigate and recover their investment in an international school located in Hoi An, Vietnam, including assessment of available assets and recovery strategy.
Engaged to investigate the reputation and ownership of a Calcite mine in the north of Vietnam, including beneficial ownership mapping and commercial background assessment.
Appointed by Liquidators to facilitate the sale of an Indian subsidiary to an affiliated SPV and appoint a new resident director. Transaction completed in 2023.
Appointed by Liquidators to acquire eleven Dutch companies, two Thai companies and four BVI companies. Truevera's SPV completed acquisitions across three jurisdictions in six months and replaced all existing directors. Completed 2023.
Engaged by a Belgium Family Investment Company to facilitate the sale and carve-out of five Singapore, one UK and one Vietnam-based entity. SPV appointed resident directors and provided a clean exit from potentially problematic entities. Completed January 2024.
Appointed to acquire various defunct and problematic entities located in Mexico, UK and Canada via the acquisition of a Hong Kong holding company, replacing all directors across the group. Completed 2023.
Engaged by the US bankruptcy administrator to facilitate the sale of a Hong Kong subsidiary owning a 100% China entity in Dongguan. Truevera replaced the legal representative and carved out the onshore company subject to ongoing litigation, providing a clean exit for the administrator.
Certainty for complex entities.
Beyond active mandates, Truevera operates a dedicated platform for the acquisition, governance transfer and long-duration stewardship of high-friction entities — subsidiaries where liquidation is uncommercial, closure timelines are indefinite, and standard solutions do not reach.
We acquire entities on an as-is basis. We assume director responsibility. We manage the tail — so that our clients do not have to.
Select the audience most relevant to you below.
Resident directors, legal representatives & nominee shareholders — across most global jurisdictions.
Where governance transfer requires a local face, Truevera provides qualified nominee appointments — acting as legal representative, resident director or nominee shareholder. Our nominees operate under strict power of attorney frameworks, ensuring full accountability to the instructing party while satisfying local regulatory requirements.
Subsidiaries where liquidation is uncommercial. Cross-border administrative burden. Fee caps and court supervision. Emerging-market unpredictability. Long-tail governance exposure with no clear closure horizon.
Liquidation economics become irrational. Dormant or distressed subsidiaries with unreliable records and no meaningful asset recovery create indefinite timelines.
Emerging-market enforcement exposure and incomplete financial records contaminate group audit outcomes. Management unwilling or unable to remediate. Cost of remediation exceeds value. No commercial buyer available.
The issue persists across audit cycles. Directors face disproportionate exposure. Time compounds uncertainty.
Auditors identify problems. We provide a solution path. No contingent arrangements. No concealment. Clear documentation trail throughout.
Funds nearing termination face zombie SPVs, stranded portfolio entities, emerging-market subsidiaries with qualified audits, LP pressure to close, and carry trapped by administration.
Liquidation timelines exceed fund life. Remediation cost exceeds asset value. Extensions are politically difficult. Capital and time remain locked.
We are a long-duration tail management platform. We specialise where enforcement unpredictability exists, directors face disproportionate exposure, and closure timelines are indefinite.
Rapid diligence → risk pricing → share transfer → director replacement → post-transfer management.
Qualified subsidiaries. Enforcement exposure in foreign jurisdictions. Director liability. Audit perimeter contamination. Disclosure complexity. These create disproportionate reputational and governance risk at board level.
Directors remain exposed. Audit qualifications persist. Disclosure pressure compounds. Waiting is not a strategy.