Fesco appoints chief restructuring officer

Fesco appoints chief restructuring officer

Russia’s Fesco Transportation Group has hired Steven Hellman as its chief restructuring officer, who will lead the group’s debt restructuring process.

Hellman started work in the position on July 6, having previously spent the last 12 years at Credit Suisse Group in various leadership positions, most recently as CEO of Russia & CIS.

Last year, the Russian group begain buying back some bond issues to change its debt profile.

Fesco said in July it “will require additional time” to evaluate a restructuring proposal submitted 12 months earlier by an ad hoc group of bondholders. The company said it will prepare its own preliminary proposal on which to base further discussions.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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