the lending bank or other finance provider may be seeking to manage the situation to optimise its own position, but this may not be in the borrower’s best interests. It will often be the case that the bank will insist on the appointment of advisers who nominally act for both the bank and the company, but in reality the adviser usually has a long history of doing business with the bank, often acting as administrator or liquidator, and potentially will benefit from a lucrative appointment if the business does fail.