Lamport Bassitt Solicitors - Legal News - BP 'could make commercial debt turnaround'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS BP 'could make commercial debt turnaround' Those with an interest in commercial debt recovery solutions might have noted that BP has reported its biggest ever loss due to the oil spill in the Gulf of Mexico, although one expert has suggested the firm is on sound footing in terms of making a turnaround. Nick Raynor, investment adviser at The Share Centre, observed that some investors will still look to put funds towards the company - despite the fact it intends to sell $30 billion (�19.2 billion) worth of assets to pay for the damage caused. He said that despite the group's pre-tax losses of $16.97 billion for the second quarter, "the company's strategy is encouraging". Mr Raynor outlined how BP has accelerated its plans to sell off assets, which is meant to create a "smaller but higher quality business". Elsewhere, research by Experian Corpfin on behalf of R3 showed that one in ten UK mergers and acquisitions involved distressed businesses in the first half of this year. Posted by Helen Causer Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 17/4/2012 - Further regulation to encourage family mediation: justice minster 2/4/2012 - Fuel tanker driver dispute talks scheduled for Wednesday 23/3/2012 - Landowners urged to take more responsibility for falling trees 22/3/2012 - Justice reforms move a step closer More Dispute Resolution News