Will New Suntech Board Member’s Restructuring Experience Help the Company?

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New board member for Suntech adds deep restructuring experience. Michael Pearson will joinMichael Nacson, Kurt Metzger, Dr. Zhengrong Sh,i and Deyong He on Suntech’s Board.

 

As Suntech (NYSE: STP), makes the news for its agreement to proceed with restructuring under chapter 15, it’s also adding a new board member with some restructuring experience. Today, the company announced that it has added a fifth member to its Board of Directors. Michael Pearson will joinMichael Nacson, Kurt Metzger, Dr. Zhengrong Sh,i and Deyong He on Suntech’s Board.

Pearson is the co-founder of Fund Fiduciary Partners Limited, a company based in the Cayman Islands, specializing in providing independent governance to a limited number of select investment vehicles. From 2008 to 2012, Pearson was a Director at a Big Four accounting firm in the Cayman Islands, where he led the investment fund restructuring practice and personally ran a large number of funds experiencing difficulties toward the end of their lives. He is a member of the Institute of Chartered Accountants in England & Wales and has been qualified to act as an insolvency practitioner since 2005. He also acts as a Cayman Court-appointed liquidator and as a restructuring advisor to a number of high-profile offshore and onshore investment funds and SPVs. He is a member of INSOL International and the American Bankruptcy Institute, and is the founding chairman of the 200 member, INSOL affiliated, Cayman Islands-based Restructuring and Insolvency Specialists Association.