Renewed calls for more independence in turnaround appointments
RBS’s independent lending review has again highlighted the need for more independence in turnaround and restructuring appointments, according to senior turnaround professionals….
05 February, 2014
RBS’s independent lending review has again highlighted the need for more independence in turnaround and restructuring appointments, according to senior turnaround professionals.
Directors of the European Association of Certified Turnaround Professionals (EACTP) believe the review conducted by Sir Andrew Large raises broader issues than just SME lending that need to be addressed collectively by financial providers and the authorities, particularly the conflict of interest for secured lenders when recommending ‘preferred’ advisors or enforcing insolvency proceedings.
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