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GP Global engages restructuring specialists following credit pull and internal fraud

06 Aug 2020

UAE-based oil and bunkering firm GP Global on Wednesday (5 August) appointed FTI Consulting’s Rod Sutton as Chief Restructuring Officer and has engaged UK- based financial restructuring specialist firm Quantuma, as part of its ongoing restructuring exercise.

Sutton is a highly reputed global corporate restructure specialist with over 25 years of experience in business advisory and management, it said. 

He specialises in problem resolution that requires discovery of facts and interpretation of commercial issues and is globally recognized for this ability to cut through the relevant issues to provide expert financial opinions, commercial options and recommendations to his clients.

Quantuma is an independent advisory firm that provides expert advice on business transactions, assists in resolving disputes and helps organizations and individuals to overcome a range of operational and financial challenges, noted GP Global.

Sutton will work closely with Quantuma to engage with GP Global Group’s stakeholders to protect the commercial interests of the group’s valuable clients.

GP Global Group said it hopes the two will help transform the group into a strong, financially prudent and future ready corporation with enhanced transparency.

“GP Global Group, Quantuma and Mr. Sutton will keep the group’s key stakeholders informed with relevant information with respect to the restructuring exercise and look forward to navigating the group’s current challenges in an open, transparent and mutually beneficial way,” concluded the company. 

Related: GP Global internal investigations reveal Sharjah and Fujairah staff involved with fraud
Related: GP Global repudiates rumours and proceeds with restructuring as strategic move

Photo credit: GP Global
Published: 6 August, 2020

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