Category: COVID-19
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Safe harbour sleeper
09-19-23
The rate of company failures is rising sharply following a lull during the pandemic. Macroeconomic forces like inflation, supply chain disruption and labour shortages are stretching organisations to their limits. Are you across your turnaround and restructuring options? As corporate financial distress is on the rise, it is important for directors to refresh their understanding […]
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TMA Submission – Insolvency Reforms to support Small Business
10-13-20
Turnaround and restructuring naturally lie at the heart of the Turnaround Management Association (“TMA”) Australia. That is why, with Australia facing a pandemic induced recession through no fault of its own, the TMA supports SME law reform which promotes restructuring of businesses facing insolvency through no fault of their own. Yesterday the TMA submitted its […]
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SME Insolvency Reform – Consultation Process
10-09-20
Dear TMA Members, On the 24 September 2020, the Government announced changes to Australia’s insolvency framework to better serve Australian small businesses, their creditors and their employees. We refer you to TMA’s previous communications. The changes will introduce new processes suitable for small businesses, reducing complexity, time and costs for small businesses. See the Exposure […]
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SME Insolvency Reform – Message from the TMA Australia President
09-24-20
The TMA welcomes the move by Government announced today to reform Australia’s SME restructuring laws. We have advocated for and support the idea of introducing a streamlined cost-effective restructuring process for SMEs. The current voluntary administration regime is an “external administration” model which has proved complex and costly in the context of small businesses. Whilst […]
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How to decide to salvage or wind up a company
09-09-20
Difficult decisions are now on many board agendas – is the company’s position salvageable or terminal? TMA Board Directors Gayle Dickerson and Michael Sloan recently produced an article for the Australian Institute of Company Director’s magazine outlining some important misteps for Directors to avoid and a ‘Director’s Decision Tree’ to consider as they make hard […]