CBI seeks legal advice over possible insolvency in wake of scandal

Business lobby group requests guidance on restructuring options as it battles for survival after sexual misconduct allegations

Britain's most prominent business lobby group has sought guidance on possible insolvency as it battles for survival in the wake of sexual misconduct allegations.

The legal advice was requested by the Confederation of British Industry (CBI) before the publication on Wednesday of a prospectus setting out plans to turn around the organisation. Members will be asked to decide on its future in a confidence vote, with the results announced at a crunch meeting on 6 June, which will determine whether the CBI and its new director general, Rain Newton-Smith, have a mandate to continue their work.