PE targets deep distress
As Asian economic development becomes increasingly interlocked, regionally and globally, contractual arrangements are getting more complex. This is pointedly clear when problems, such as non-payment of large sums owed, occur. One prominent Asian distress player, who asked to remain unnamed, tells AVCJ: “It’s common knowledge that trying to enforce creditor rights is very difficult. That’s why deals get cut.”
Where it is too late to reach a compromise and the asset plunges into bankruptcy, private equity firms may turn to recovery specialists. These players tend to pursue one of three avenues: purchase the...
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