Category: COVID-19

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • TMA Member Update: Restructuring Law Reform Initiatives

    07-27-20

    Your TMA Australia (TMA) Board has established a diverse, expert team to work informally with Government and in particular with Federal Treasury on restructuring law reform initiatives.  This work is needed to help the economy through the turbulent times ahead.  We suggested reform where it is most needed irrespective of individual or industry interest. Whilst […]

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