The following Restructuring & Insolvency practice note produced in partnership with Allan Kelly of RSM provides comprehensive and up to date legal information covering:
This Practice Note looks at independent business reviews (IBRs) and aims to:
provide high level guidance around an IBR
identify when an IBR may be requested
identify potential areas of conflict
highlight common scope and report contents
highlight common outcomes of an IBR, and
highlight some key issues when being engaged
The purpose of an IBR is often misunderstood and may be viewed as a precursor to an insolvency or withdrawal of support by a lender.
Whilst either of these may be an outcome, an IBR is a valuable tool to provide an external view to a stakeholder as part of their decision making process.
An IBR is an independent, objective, unbiased assessment, often covering the current and future trading status of a company. They are used by stakeholders, mainly lenders, to assist them in assessing their options.
Whilst typically most IBR’s are focussed on the historic and future financial performance of a company, in their widest sense, an IBR can also encompass an assessment of it’s operational, commercial and governance performance.
The nature of a stakeholders needs have changed over the last 20 years. Component parts of an IBR are now often commissioned independently without a full scope being necessary to meet the stakeholders’ requirements, mainly around future viability, cash and options. Such limited reviews include:
Free trials are only available to individuals based in the UK
Complete all the fields above to proceed to the next step.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international
Working with counselInstructing counsel to advocate on a client’s behalf should be a matter of careful thought and preparation. The role of counsel is to provide independent objective advice and to deploy the skill of advocacy on behalf of the client. Although they are part of a team, they also
Lexcel—assessmentLexcel is the Law Society's practice management standard. It is not compulsory although Lexcel accreditation can be helpful for firms wishing to be accredited under the Conveyancing Quality Scheme or the Legal Service Board's Specialist Quality Mark. This Practice Note tells you
Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with
0330 161 1234