Igor Zaks , CFA, President of Tenzor Ltd, was quoted by 9fin, a debt market intelligence publication. The article “The Year of the Cockroach” examines recent financial scandals, such as First Brands, Tricolor, Stenn and others and their implications for the industry.
Specific quotes from Igor:
“In my view invoice financing is very good market, with attractive yields if it’s done properly, with the right control mechanisms,” said Igor Zaks, CEO of Tenzor, a boutique
advisory firm looking at working capital. “The problem is that people get into it without
the right understanding of the risks.”
“The first line of defence is the people,” said Igor Zaks, CEO of Tenzor, an advisory and
due diligence firm specialising in working capital financing and corporate distress. “If the
people you’re facing raise red flags, you don’t even get to the part where you’re talking
terms.”
“Every financier in the receivables industry has tales of fraud attempts that were stopped
at the gates,” said Zaks. “But some will always get through. If you have a good burglar
alarm, it won’t stop a burglar that’s determined to get in. But it might make them think
about targeting your neighbour’s house that doesn’t have such a good alarm.”