A shipping company was considering bidding for a contract with a well-known Indian raw materials trader, but needed to assess the risk before signing a contract.
How we solved it:
LSR was appointed to carry out Due Diligence that revealed that the Indian counterparty was part of a large group with associated companies in China, Singapore and in Europe. However, the target company was under-resourced and financially ring-fenced from the wider group, with no obligation on any party to provide financial support.
LSR’s expertise in Due Diligence and quick turnarounds enabled our client to withdraw the bid. This proved to be a good decision since the Indian counterpart defaulted several months later.
Due Diligence, Pre-fixture, Company Structure Unveiling, Loss Prevention