Independent Business Review (IBR)
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The prompt for a bank or investors may be a concern that management is supplying insufficient information and at unacceptable intervals. A lender may be worried about its exposure if a company’s management appears not to be reacting in a timely way to business challenges or creditor demands. External parties seek the advice of experts in corporate finance and insolvency to determine the viability of the business by way of a comprehensive review.
A review will usually be conducted by Insolvency Practitioners, often with assistance from colleagues with expertise in corporate finance or turnaround.
While the IBR is forwarded directly to a lender, it is paid for by the company under review. If the results are encouraging, a borrower may be able to continue with current or even increased levels of credit. Where new conditions require a business recovery plan, it will need to be reviewed by the IBR experts.