Leading forensics and restructuring firm Alvarez & Marsal has been brought in by investors in the embattled Abraaj Group to help recover nearly $100 million in outstanding debt, as the long-running saga draws closer to its sorry conclusion.
Following an initial investigation triggered by complaints from high-profile investors late last year over alleged mismanagement of its $1 billion emerging market healthcare fund, and months of subsequent scrambling, the once high-flying Abraaj group finally filed for voluntary liquidation in the Cayman Islands courts in June under the sustained pressure.
And now, as the private equity funds court-appointed liquidators PwC and Deloitte work to settle over a $1 billion worth of debt in the wake of …
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