Turnaround Management; Unlocking and Preserving Value in Distressed Businesses.
By Alan Tilley
An independent review: – by Professor Dr Bob Wessels; Independent Legal Counsel and Advisor & Professor of International Insolvency Law, University of Leiden 2007-2014
BM&T are immensely grateful to distinguished academic and legal practitioner Bob Wessels for reviewing the book on Turnaround Management, and his forthright comments. As Bob points out the book is not a legal tome. It was never intended for that purpose. It was aimed at adding a practical turnaround dimension for aspiring turnaround practitioners and professionals as well as financial and legal professionals who engage in distressed business situations. Bob comments; –
“The book is a very useful tool when addressing underlying business problems, managing managers’ overconfidence, developing a turnaround business plan, identifying a revised strategy and what it needs to get the management team to implement these plans”
It is a “down to earth practical book drawing on the author’s 25 years’ experience in turnaround management”, Bob goes on to say.
It has much to offer; “the benefit of practical explanation of many topics of turnaround, including experiences regarding conflict management and stressing the importance of independent, unconflicted professional advice”
Independence and avoidance of conflict of interest have been cornerstones of BM&T’s professional approach to Turnaround and Restructuring. By underlining these issues, we believe this review adds significantly to the debate on conflict now being addressed by politicians following recent headline cases where earlier recognition and more objective analysis may have preserved greater value for all stakeholders.
We also believe that the book will serve to give those involved in turnaround who have not had the experience of hands on corporate management a greater perspective of these issues that unaddressed can significantly hamper a successful outcome.
Alan Tilley – Chairman, BM&T
15th April, 2019