An independent adviser can help a business’ directors by identifying what is essential to and special about their business and its future.
If a company is insolvent and its directors are considering their options then an independent adviser is vital, as we argued in articles in Business Review in today’s City A.M. and in last Sunday’s Telegraph.
Directors need someone who can assess whether and how their company can be saved, and whether it is via a turnaround or transformation. This is different from advice on what is in the bank’s best interests.
Also, as Tyrone Courtman, of PKF Cooper Parry, points out in the same article, directors need guidance from someone who is not subject to conflicting interests.
Do directors need their own independent advisor when a bank introduces its advisors?
See article page 8: Transforming Business Fortunes in Business Reporter