Home > Uncategorized > “Do IPs do turnaround?’

“Do IPs do turnaround?’

A question posed by my friend Tony Groom of K2 partners. Unfortunately i cannot link the article but the responses are interesting

http://www.insolvencynews.com/downloads/view/267/insolvency-today-do-ips-do-turnaround-the-responses

And maybe in some cases a little defensive?

Some strong opinions but I thought that this was perhaps the best

“In my view that is like asking, ‘Do solicitors carry out the property valuations for their own conveyancing instructions?’ or ‘Do barristers undertake all of the pre-legal investigates on a case they are to present before the courts?’ The simple answer is ‘no’, but IPs do work in conjunction with and can assist turnaround specialists. To coin a phrase, ‘You do not have a dog and bark yourself!’ Like insolvency, turnaround is a specialist field and those who work within and alongside the company directors do so without any protection from the likes of a moratorium or an approved CVA. It is comparing apples and oranges.”

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