Professional Advice
Its easy to shun the professional advisors when things start getting tough, especially when you are worrying about money and costs. The most successful people recognise their own skill sets and surround themselves with experts for everything else.
Tap into your professional advisor’s knowledge and their network of contacts to find the right advice. Professional accountants, lawyers and restructuring professionals are all really good sources of advice, with the latter being professional problem solvers and strategic solution finders.
Creditor Focus
Enhancing shareholder value is the typical focus for a business, with an emphasis on growth and dividends. When faced with financial challenges however, the Board of Directors must consider the creditors interest above the shareholders. Making sure that value is protected for creditors and their financial position is not prejudiced is key to the Board mitigating their risk of future criticism and potential wrongful trading or misfeasance claims.
