Wednesday, 13 January, 2016 - 14:17
Figures show tough November
Nearly 100 Western Australian companies entered external administration last November, giving the state its highest share of the national total in nearly a decade.
Quentin Olde is an experienced restructuring and corporate advisory practitioner who provides strategic advice to clients on numerous complex informal and formal restructuring, insolvencies and workouts, as well as a range of corporate transactions. He has broad industry expertise and is regarded as a leader in the area of retail and consumer products, resources and mining, mining services, property, hospitality, and technology services.
Mr Olde has worked on mandates throughout the Asia Pacific region, Europe, the Middle East, and North America. He has led multiple large-scale global restructurings and worked alongside colleagues, lawyers and advisors throughout the world. Mr Olde acted as an expert witness in restricting disputes and as an interim executive.
Prior to becoming the senior managing director of Ankura's Sydney office in October 2019, Mr Olde was senior managing director in the corporate finance & restructuring practice of the global restructuring advisory firm FTI Consulting and a senior partner of Taylor Woodings, a national restructuring and insolvency firm where he led the sale to FTI on behalf of his partners. Prior to that, he was the treasurer at the Asia Pacific head office of a multinational IT company, and a director of a specialist corporate advisory firm.
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Nearly 100 Western Australian companies entered external administration last November, giving the state its highest share of the national total in nearly a decade.
More than 1,000 Western Australian companies went into external administration in the 12 months to March, an increase of nearly 36 per cent on the same period last year, according to the latest ASIC data.
Pindan Group’s offshore owner has provided a $17 million loan to pay out its secured creditor as it works on a restructuring for other creditors owed $75 million.
Pindan Group's Singaporean owners have proposed a DoCA with $7.5 million for employees and creditors in the coming weeks.
An eleventh hour move by Pindan's Singaporean owner to almost double its DOCA proposal to $12.3 million will lead to an adjournment of a planned creditors' meeting tomorrow.
Pindan’s Singaporean owner has upped its deed of company arrangement proposal to $14.3 million, lodging the third and final offer ahead of the creditors meeting next week.
UPDATED: Administrators have recommended Pindan Group's creditors accept Oxley’s $14.3 million payment offer, but that claimants from its contracting arm reject the move.
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