Brunei
Cambodia
Indonesia
Laos
Malaysia
Myanmar (Burma)
Philippines
Singapore
Thailand
Timor-Leste (East Timor)
Vietnam
Australia
New Zealand
Fiji
Marshall Islands
Micronesia
Nauru
Palau
Papua New Guinea
Samoa
Solomon Islands
Timor Leste
Tonga
Tuvalu
Vanuatu
HOME – PACIFIC REGIONAL
Pacific Regional Specialists
ABOUT OLVERA
Experience where
you need it
The importance and influence of the Pacific region are growing as developing economies demand access to capital and complex financial products. This is being driven by :
- Growth in population and disposable income
- Global demand and strategic interest
- Mineral and resource discoveries
- Entry of new technologies
- Changing governments and regulations
- Food security and production
- A review of working capital and lending restrictions
THE PACIFIC & SOUTH EAST ASIA
How can we help?
Olvera Advisors are well positioned with a track record of experience throughout the Pacific and South East Asia helping financiers and stakeholders respond to common issues including:
- Cross jurisdictional security packages
- Limited property rights and legal recourse
- Disconnect between representations to the financier and on ground fact finding
- Poor business administration and procedures
- Limited understanding of global marketplace
- Unreliable middle management workforce
Our services range from restructuring initiatives and pre-lending reviews through to independent business reviews and where necessary formal insolvency appointments.
OUR EXPERIENCE
Relevant Experience
Restructuring initiatives – Food production Papua New Guinea
Based over a number of PNG's islands, this Group’s main business was food production. Neil was engaged by the lender to report on the restructuring initiatives that included a focus on gross profit improvement, cost reduction and recapitalisation for the core profitable business whilst divesting the nonperforming businesses.
The board implemented our recommendations resulting in a restructure of the debt facility, equity injection and a part repayment for the financier.
The board implemented our recommendations resulting in a restructure of the debt facility, equity injection and a part repayment for the financier.
Liquidation – Bank of Nauru
Over a number of years Neil undertook the role of Official Liquidator in the winding up of Nauru’s former Reserve Bank, the bank of Nauru. The liquidation included the confirmation and reconciliation of claims against the bank, the pursuit of debtors of the bank in multiple jurisdictions, including state owned enterprises.
The winding up of the bank's affairs has been conducted with close collaboration with the Government of Nauru including the Department of Finance, Asian Development Bank and DFAT.
The winding up of the bank's affairs has been conducted with close collaboration with the Government of Nauru including the Department of Finance, Asian Development Bank and DFAT.
Investigation Accountant – Softwood processing Papua New Guinea
Our team was engaged to undertake a report on a group of companies specialising in the growing, harvesting and processing of balsa timber which was primarily for export for use in wind tower turbine blades.
A recommendation was made to the financier that the client should pursue a strategy to reduce debt to more sustainable levels in return for support in relation to the groups upcoming FX contract and HP facility commitments.
A recommendation was made to the financier that the client should pursue a strategy to reduce debt to more sustainable levels in return for support in relation to the groups upcoming FX contract and HP facility commitments.
Receivership – Coffee, copra and coconut plantations Papua New Guinea
Neil has been appointed numerous times as a Receiver and Manager for secured lenders wanting to recover distressed loans and to provide the best possible outcome for both the financier and the client.
This process has involved sale of properties and business as a going concern whilst sourcing and matching the right purchaser to the vendor business and assets. Partnering with local indigenous leaders has been key to Neil's to success in delivering the right outcomes.
This process has involved sale of properties and business as a going concern whilst sourcing and matching the right purchaser to the vendor business and assets. Partnering with local indigenous leaders has been key to Neil's to success in delivering the right outcomes.
Pre Construction Review Fiji
Our team was engaged by a second-tier financier to review the feasibility of a new hotel project in Momi Bay in Fiji.
The project was a significant investment in the region and due to under capitalisation of the proposed developer our recommendation was to put the project on hold until an injection of capital or Government support could be achieved.
Notwithstanding, our advice, the project commenced and relationships between the Government and developer became strained and exacerbated by the financial difficulties of the developer. The project was ultimately not completed, and the developer was later placed into Liquidation in New Zealand.
Notwithstanding, our advice, the project commenced and relationships between the Government and developer became strained and exacerbated by the financial difficulties of the developer. The project was ultimately not completed, and the developer was later placed into Liquidation in New Zealand.
Independent Business Review – Aquaculture Solomon Islands
The company operated a tuna processing plant based in the Solomon Islands that was an important provide of employment and infrastructure to the community.
Neil’s investigations concluded the plant was unable to trade without a capital injection and given the high importance of the business to the region the restructure required the Government to play a key role.
Neil’s report served as the foundation for negotiations with various stakeholders including the Government, a national providerscheme and Big 4 institution bank. The resulting equity investment resulted in full payment of the banks debt.
Neil’s report served as the foundation for negotiations with various stakeholders including the Government, a national providerscheme and Big 4 institution bank. The resulting equity investment resulted in full payment of the banks debt.
Investigating Accountant – Coffee processor Timor Leste
This company processed coffee for export to customers predominantly in Europe and parts of Asia.
It was apparent from our investigations that the business was insolvent and there would be minimal recovery from taking enforcement actions against the business.
We recommended to the financier that avenues be pursued to partner with the company to reduce its debt exposure from the major shareholder located in Singapore.
We recommended to the financier that avenues be pursued to partner with the company to reduce its debt exposure from the major shareholder located in Singapore.
Voluntary Administration - Various Australia and New Zealand
Our team has undertaken appointments as external administrators to numerous insolvent entities covering a large array of industries, in both Australia and New Zealand.
Olvera specialises in the trade-on of business, with access to capital, to promote a sale or stabilisation of the business, which ultimately provides for a better outcome to stakeholders than an immediate winding up of the company.
Olvera specialises in the trade-on of business, with access to capital, to promote a sale or stabilisation of the business, which ultimately provides for a better outcome to stakeholders than an immediate winding up of the company.
Speak to the Olvera Expert
Pacific Regional Specialist
PRINCIPAL
Neil Cussen
Neil is a respected expert in the Insolvency and Reconstruction industry, bringing a substantial tenure of over 35 years. As a Chartered Accountant and Registered Liquidator, his areas of specialisation include asset tracking, corporate insolvency, business revitalization and turnaround, debt consultancy, and financial examinations.
