Project CRO Star

Project Overview

Our mandate was to implement the agreed court-approved Composition Plan following the PKPU, acting as Chief Restructuring Officer (CRO) and supporting the Creditor Steering Committee formed as an oversight body.

Challenges

• .

Our Approach

• CRO: Our mandate was to: (1) work together with the BOD to implement and execute the restructuring terms under the Composition Agreement; and (2) conduct cash monitoring and payment review and approval work. A major component of the CRO role was reviewing and implementing a new accounting system, initiating and overseeing non-operating asset sales, and supporting the sale of the business operations; and
• Steering Committee Support: Our mandate was to support the Creditor Steering Committee in the execution and administration of its responsibilities under the Composition Plan.

Outcome