Client: Director-major shareholder
Industry: Glasshouse horticulture – flowers and plants
After its principal banker cancelled its credit facility, the company got into financial difficulty. The director-major shareholder was at risk of being held liable based on the surety issued by himself personally and his holding.
Nederhof assessed the implications of a rescue package, seeking new investors together with an insolvency advisor. Before bankruptcy was declared, consensus was reached with the principal banker about the purchase price of the glass units and land.
Personal liability was avoided.