A very thorough discussion on the restructuring options available for companies in the BVI took place on December 7, during the final installation of the ‘Insolvency 101 Practice and Procedure’ webinar series.
The webinar, ‘Restructuring Remedies in the BVI,’ was hosted by the Recovery and Insolvency Specialists Association (BVI) Limited (RISA BVI) and BVI Finance.
Moderator, Sharon Mungall - Managing Director, Little Bay Consulting first explained that restructuring occurs when a company wants to make significant changes to its financial or operational structure.
She said, “[The company] doesn’t need to be in financial distress. Sometimes companies will restructure when preparing for a sale, a buy-out, merger, a change in the overall goals, or transfer of ownership.”
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