GP Global fends off ‘shark attacks’ amid critical financial restructure
Oil and bunker trader GP Global is fighting speculation surrounding its precarious financial condition as its restructuring advisers battle a virus-led cash crunch and investigate an internal fraud
Rumours of GP Global’s downfall have been greatly exaggerated, according to those behind the company restructuring that has seen desks closed and at least one vessel arrested as unpaid invoices stack up. The company is trading with the full support of its financial stakeholders, insists GP Global, and speculation to the contrary is just classic restructuring tactics from those disappointed not to be snapping up distressed assets
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