(Alliance News) - Finablr PLC on Thursday said it has appointed an independent financial adviser to examine the foreign currency firm's debt restructuring, fundraising or asset sale options.
Newly-appointed Houlihan Lokey Inc, investment bankers based in California, also specialises in mergers and acquisitions, capital markets, financial restructuring, and valuation, Finablr said.
Finablr Chief Executive Bhairav Trivedi said: "Houlihan Lokey is one of the largest, most experienced worldwide financial restructuring practices and one of the leading advisors to the financial services sector. I am confident they will play an important role in the next part of our journey."
Back in March, Finablr said it intends to potentially seek insolvency in a bid to maximise any remaining value in the company. This was after the company, recently downgraded from the FTSE 250 index, discovered undisclosed loans against shares worth USD100 million.
Its shares were suspended from trading in March.
By Eric Cunha; ericcunha@alliancenews.com
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Finseta (FIN)