Lenders put EY on alert as Interserve to look at plan B

Rebel investors in Interserve have tabled alternative survival proposals demanding that they are considered if Interserve’s plans fails to win shareholder backing at a critical general meeting.

This week Interserve will publish full details of its favoured survival plan agreed with its lenders, bonding providers and Pension Trustee, and first outlined earlier this month.

With the details, Interserve will also set the date for the critical general meeting that will decide the fate of firm.

On Friday Interserve revealed that alternative outline proposals had been received from major shareholder Coltrane Asset Management, which it said it would consider.

In the advent of failure to pass either plan lenders are reported to have approached Ernst & Young to step in to manage the administration of the Interserve.

 

From http://www.constructionenquirer.com/2019/02/23/lenders-put-ey-on-alert-as-interserve-to-look-at-plan-b/

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Author: Ebenal Construction

Ebenal Construction is the process of constructing a building or infrastructure.Construction differs from manufacturing in that manufacturing typically involves mass production of similar items without a designated purchaser, while construction typically takes place on location for a known client.