Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Has been impacting at the moment? Did they turn of the services back on.
Do wish you all the best i think it would be criminal if the banks pull it with all the work people have put in to the re fits etc
Think management need to be more open with their staff as well as shareholders I have heard staff complaining at our store for the same reason.
Good to hear paypoint back up, is that news artical a load of rubbish there saying it’s because there worried about the company going under
Good news. I do like Mccolls and yes I have shared. Out Morrisons daily is really good and I’d be gutted if it went.
Any gossip on the banking? How come paypoint pulled it and then changed their minds?
Role of hedge funds in distressed companies
Over the last decade hedge funds have emerged in the distressed debt markets and that presence has continued to grow rapidly. The involvement of hedge funds in distressed investing provides a number of benefits to the companies themselves and the market as a whole through:
Their willingness to fund new capital required in restructuring situations and provide alternative sources of financing to the European restructuring market.
The provision of a valuable service to lenders looking to secure an exit from a particular situation. This gives lenders a third and less extreme option to the alternatives of sticking it out to the bitter end or, at the other end of the spectrum, insolvency. It may also encourage a solvent recovery over a longer period of time at greater returns than under an insolvency process.
The provision of fresh funding where traditional lenders may retreat with caution, preserving and enhancing value for stakeholders by providing restructuring and refinancing options.
How Hedge Funds Invest in Distressed Debt
Access to distressed debt comes via several avenues for hedge funds and other large institutional investors. In general, investors access distressed debt through the bond market, mutual funds, or the distressed firm itself.
Bond Markets
The easiest way for a hedge fund to acquire distressed debt is through the bond markets. Such debt can be easily purchased due to regulations concerning mutual fund holdings. Most mutual funds are barred from holding securities that have defaulted. Consequently, a large supply of debt is available shortly after a firm defaults.
Mutual Funds
Hedge funds can also buy directly from mutual funds. This method benefits both parties involved. In a single transaction, hedge funds can acquire larger quantities—and mutual funds can sell larger quantities—without either having to worry about how such large transactions will affect market prices. Both parties also avoid paying exchange-generated commissions.
Distressed Firms
The third option is perhaps the most interesting. This involves working directly with the company to extend credit on behalf of the fund. This credit can be in the form of bonds or even a revolving credit line. The distressed firm usually needs a lot of cash to turn things around. If more than one hedge fund extends credit, then none of the funds are overexposed to the default risk tied to one investment. This is why multiple hedge funds and investment banks usually undertake the endeavor together.
Hedge funds sometimes take on an active role with the distressed firm. Some funds that own debt can provide advice to management, which may be inexperienced with bankruptcy situations. By having more control over their investment, the hedge funds involved can improve their chances of success. Hedge funds can also alter the terms of repayment for the debt to provide the company with more flexibility, freeing it up to correct other problems.
Why you pasting news links all of these are from days ago……
RNS states their still hopeful so fingers crossed. They would look like a set of ******s if they can’t get financing in place now they’ve said that.
News is just full of ****
Like the artical and the RNS states, they are hopefully a financial package ca be put in place. Assuming the banks are dragging it out to see how trading is doing.....only a guess.
Still semi hopefully here but time will tell.