Special review of irregularities during insolvency of a bank’s debtor

Our team investigated suspicions of fraud prior to the insolvency of a significant investment of the bank (clothing manufacturer). The client asked us to identify potential asset stripping, financial statement fraud, and conflicts of interest within the company under the reign of the management ahead of the insolvency announcement.  This engagement was performed under the collective powers of, and in close communication with, three banks from the creditors´ committee. Major issues like misappropriation of the company´s intellectual property, services paid but not provided, and unacceptable conflicts of interest of the former managers were identified.