Doctoring in the shadows of insolvency

Abstract

Discusses the impact of the corporate rescue regime introduced by the Enterprise Act 2002 and the role of the "turnaround specialists" involved at the pre insolvency monitoring stage. Examines the levels of expertise required by the Society of Turnaround Professionals, whether their accountability standards match those of insolvency practitioners, and the obstacles to introducing a mandatory system of regulation. Considers whether turnaround specialists are obliged to ensure fairness between all creditors and evaluates their contribution to corporate rescue, highlighting the advantages of independence