In every business rescue engagement I’ve been involved in, one constant remains, BETRAYAL. It’s as much a part of business as ambition, strategy, or the hunger for success.
Section 7(k) of the Companies Act places a duty on Business Rescue Practitioners to consider the interests of all affected parties. That means managing creditors and debtors, lenders and landlords, staff and suppliers, and yes, even the directors who appointed you. These stakeholders often arrive with long histories of conflict, mistrust, and opposing agendas. Your job is to be Neutral. Fair. Unshaken and Ethical.
But neutrality doesn't shield you from the inevitable.
In business rescue, betrayal rarely comes from your perceived opponents. It most often comes from those who once stood beside you. The directors who welcomed you in nodded through every decision and praised your guidance, they are the ones who suddenly become your adversaries at the most critical moment, often resulting in the very consequences you warned them about unfolding. And then, without irony, they point the finger at the you, the practitioner.
Enter the Ultracrepidarian: someone who speaks beyond their level of expertise, yet does so with unwavering confidence. It’s a surprisingly accurate descriptor for many directors in distress. Convinced by their own narrative. Critical of professionals trained to do what they cannot. They want a rescue, but only on their terms. They want a practitioner, but only one who validates their view. When the outcome doesn’t align with their expectations, betrayal becomes their defence mechanism.
"Et tu, Brute?" — the infamous words of Caesar, betrayed not by an enemy, but by a friend. And while today’s betrayals play out in boardrooms rather than in the Senate, the principle remains. A knife in the back may no longer be fatal, but the damage to trust, process, and reputation can be just as lasting.
In business rescue, expect the knives, not because you’re paranoid, but because you’re prepared. No pact is stronger than self-interest. No agreement is immune to fear, pride, or ego.
Herein lies my advice to fellow practitioners: In God I trust, for everyone else, I need paperwork or a recording.