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‘Shocking statistic’: Only 10 per cent of liquidators are women. They’re getting impatient

09-23-24

Insolvency was known for an aggressive approach of “kicking down doors, banging tables”. That’s changed, and now there’s a push to boost women’s role in the sector. By Jessica Yun (Sydney Morning Herald, 23 September 2024) In some small circles of Australian insolvency practitioners – the corporate undertakers tasked with advising or taking control of […]

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Please contact the TMA National Office at info@turnaround.org.au or 1300 042 811.

  • TMA Voluntary Code for Equitable Insolvency & Restructuring Appointments (EIRA)

    09-18-24

    Read more about the code – https://turnaround.org.au/wp-content/uploads/2024/09/TMA-Australia-Vountary-Code-EIRA.pdf Sign up to the code – https://turnaround.org.au/wp-content/uploads/2024/09/TMA-NOW-Houlihan-Lokey-Sponsorship-The-Code-10-Sept.pdf Given the widespread acceptance of the Law Council of Australia Equitable Briefing Policy, the TMA recommends that firms and organisations working in insolvency, restructuring and turnaround adopt the TMA Voluntary Code for Equitable Insolvency & Restructuring Appointments (EIRA) launched at the […]

  • TMA Australia’s Support of Safe Harbour

    08-15-24

    The TMA is supportive of the safe harbour protection from insolvent trading liability found in s 588GA of the Corporations Act 2001 (Cth) (the Corporations Act). As outlined in the TMA’s 2021 submissions Safe Harbour submissions – TMA Australia (turnaround.org.au) to the Review of the Insolvent Trading Safe Harbour (the Review), drawing on our members’ […]

  • TMA-Houlihan Lokey Scholarship Recipient

    05-22-24

    Maggie Fong (Senior Associate, Herbert Smith Freehills, Sydney) TMA Australia is thrilled to announce that Maggie Fong (Senior Associate, Herbert Smith Freehills, Sydney) is the successful recipient of the FY25 TMA Australia-Houlihan Lokey International Scholarship. Toronto Awaits Join us in celebrating Maggie’s achievement as she gets ready to attend the TMA International NextGen Leadership Conference […]

  • NOW National Scholarships – Applications Open!

    07-07-24

    The Houlihan Lokey-TMA Scholarship Program, in partnership with TMA Australia, is dedicated to empowering and nurturing the leadership potential of women in our industry. We’re thrilled to announce the return of the Houlihan Lokey – TMA Australia Network of Women (NOW) Scholarship Program for its second year! This National Scholarship: Please note: Application Details: The […]

  • Member Spotlight

    06-25-24

    Kellie Link, Partner at Norton Rose Fulbright (WA) What do you enjoy most about working in the turnaround industry?i enjoy the variety that comes with working in the turnaround space. Each matter brings a new business to understand and new challenges to overcome. I find the strategy behind analysing the position of a distressed entity, working […]

  • Annual General Meeting

    05-02-24

    Notice is given that a general meeting of the members of the Company will be held via Teams and in person on Thursday, 30 May 2024 at 9.30am in Sydney. To view the updated Notice of Meeting – click here. Please indicate your intention to attend by returning the completed proxy forms to info@turnaround.org.au

  • Parliamentary Joint Committee on Corporations and Financial Services – inquiry into corporate insolvency – Update

    07-13-23

    The TMA acknowledges the care and consideration that the PJC under the leadership of Senator O‘Neill has brought to this substantive report (here) The TMA welcomes the proposed comprehensive review of Australia’s insolvency law the report proposes, and look forward to engaging in that process, including to advocate for a key purpose of insolvency law […]

  • Australia’s Post-Pandemic Pursuit of Enterprise Rescue and Reform

    05-15-23

    Clayton Utz’s Jennifer Ball and Melissa Ferreira, along with Maria O’Brien of Baker McKenzie, recently penned an article, “Australia’s Post-Pandemic Pursuit of Enterprise Rescue and Reform,” for the Journal of Corporate Renewal (JCR), the official publication of the Turnaround Management Association (TMA). View the article on your desktop – or download the JCR app to […]

  • Annual General Meeting

    04-27-23

    Notice is given that a general meeting of the members of the Company will be held via Teams and in person on Thursday, 30 May 2024 at 9.30am in Sydney. To view the Notice of Meeting – click here Please indicate your intention to attend by returning the completed proxy forms to info@turnaround.org.au

  • PJC Corporations and Financial Services – inquiry into corporate insolvency – questions on notice

    02-15-23

    TMA is committed to gender equality, and this commitment is evident in the make up of our leadership team, our Board, our committees, and the content at our events (particularly our National Conference). We are immensely proud of the success and clear value of our Network of Women (NOW) events launched in 2022. We will […]

  • That’s a wrap – 2022 TMA Australia Conference

    01-04-23

    The 2022 TMA Australia conference, presented in a hybrid format, delivered another program that brought together world-class speakers, highly relevant topics and turnaround case studies of all sizes, together with fabulous networking opportunities Thanks to attendees, sponsors and speakers.  We hope the event provided you with a range of resources and skills to deal with […]

  • TMA submissions on corporate insolvency in Australia

    12-12-22

    TMA Australia has made submissions to the Parliamentary Joint Committee on Corporations and Financial Services for the purposes of its inquiry into corporate insolvency in Australia, which are now publicly available (https://lnkd.in/gZcPpuk2). Also here. The TMA working group that prepared the submissions was led by Richard Hughes, with unput from Paul Apathy, Jennifer Ball, Cameron Belyea, Lily Davies, Gayle Dickerson, Georgia […]

  • Capital Meets Turnaround Event (Perth, 4 August)

    08-18-22

    As one of the more powerful thought leaders of our time, hearing the Hon Julie Bishop speak about geo-politics, influencing the policy agenda, levelling the gender field and standing up to Russia was a delight for the sell-out business types who attended the TMA Australia’s Capital Meets Turnaround night on a sharp winter’s night in […]

  • ‘Safe Harbour’ protections may help Australian startups and scaleups ride out the current storm

    07-29-22

    Legal Briefing – By Paul Apáthy, Mark Clifton and Elizabeth Henderson (Herbert Smith Freehills). With a tightening market for capital, the ‘safe harbour’ protections may be critical for Australian startups and scaleups who are unsure if they can raise more capital within their current cash runway or who need to raise through debt securities like convertible notes. […]

  • Badges of Success in today’s changing world

    07-04-22

    The impact of global events on today’s business environment is unmatched over the last seventy years.  From the Covid-19 pandemic to the Russian invasion of Ukraine, major flood events, rising geopolitical tensions and a Federal Election, businesses are feeling the deteriorating effects of this unprecedented chain of events – and the practical impacts can be […]

  • TMA Australia Safe Harbour Guidelines

    06-28-22

    Based on AICD surveys, the personal liability risk in relation to insolvent trading is very important to directors in times of financial distress. Recently, the Government has moved to soften the prospect of personal liability by introducing Safe Harbour reforms. But it is all very well and good knowing that there is a Safe Harbour […]

  • Safe Harbour submissions – TMA Australia

    10-19-21

    Treasury invited TMA Australia to make a submission in respect of its consultation paper on Safe Harbour (along with the Scheme of Arrangement submission previously provided to TMA members on 15 October). We are pleased to say that we provided our submission just before the TMA Australia Conference. It has been a busy month! The […]

  • Helping Companies Restructure by Improving Schemes of Arrangement: TMA Australia Submissions on the Consultation Paper

    09-20-21

    The Turnaround Management Association of Australia (the TMA) welcomes the opportunity to provide submissions in response to the consultation paper Helping Companies Restructure by Improving Schemes of Arrangement dated 2 August 2021 issued by The Treasury of the Government of the Commonwealth of Australia (the Consultation Paper)  The TMA is a community of professionals dedicated […]

  • Translating international turnaround lessons for the Australian market webinar (25 Aug 21)

    08-26-21

    The law, judicial system, culture, lifespan and government of each country are some of the key components that mixed together deliver a country’s unique turnaround environment. Whilst an organisation’s issues may be similar across different countries, the methodology around how to address those issues can vary significantly.  So the approach in the UAE, a country […]

  • Distinguish yourself from your peers – TMA Australia Awards

    08-19-21

    TMA Australia honours excellence through its annual awards programme and is delighted to announce that nominations are now open. Recognising achievements in the categories listed below, awards will be presented to the respective winners at the 2023 TMA Australia National Conference (15-16 August) in Melbourne. We look forward to celebrating the achievements of our members […]

  • TMA / Allegro Funds – Turnaround Case Study Competition

    05-05-21

    To register email – AllegroTMAcasecomp@allegrofunds.com.au – with your team name, the names of the participants in your team as well as their job title, company and email address. No cost to enter Key Dates Thursday 5 August: Registration opens Wednesday 1 September: Case Released Saturday 4 September: Submissions due at 11:59pm Friday 10 September: Teams will be notified if they are […]

  • 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 […]

  • TMA Australia supports Government’s announcement of regulatory changes

    07-13-20

    TMA Australia (TMAA) supports the announcement yesterday by Treasurer Josh Frydenberg that Government will examine further temporary measures to  the insolvency and bankruptcy laws. With the ongoing challenges faced by the domestic and global economies and in particular the acute challenges faced by Victoria the TMAA continues to work with Government and in particular Federal […]

  • Covid-19 Restructuring Survey results (KordaMentha Corporate &TMA)

    05-06-20

    We are pleased to share with you results from the TMA-KordaMentha survey and thank all participants. View the results. We highlight the following:   Signs that business restrictions may soon be lifted are coming just in time for thousands of companies in key labor-intensive industries Four out of five professionals in the industry believe companies in […]

  • TMA Podcast: A New Safe Harbour Tips & tricks in the COVID-19 world

    04-23-20

    In this podcast, our guest speakers will take you through a guided discussion around recent changes to legislation and the marketplace in light of the COVID-19 crisis. Thanks to our guest speakers: Cameron Belyea (Clayton Utz), Rob Brauer (McGrathNicol), Ben Gibson (Gordon Brothers) and Chris Pearce (Blackwall Legal). View podcast – here

  • Considerations for directors and a test for existing insolvency laws (King & Wood Mallesons)

    03-25-20

    As part of its economic response to the COVID-19 pandemic, the Government passed a ‘temporary safe harbour’ insolvency measure[1]. It suspends, (for six months if not extended), the current ‘insolvent trading’ regime whereby directors can be personally liable for debts incurred by their company at a time it is insolvent.[2] This alert by King & […]

  • Safe Harbour: A port and temporary respite for all in the storm

    03-22-20

    TMA Australia welcomes the Federal Government’s implementation of emergency measures to give temporary relief for directors from any personal liability for trading while insolvent.  The Government announced today that the Corporations Act 2001 will be amended to provide temporary and targeted relief for companies to deal with unforeseen events that arise as a result of […]

  • Coronavirus: Dealing with supply chain disruption (FTI Consulting)

    03-19-20

    Reaction to the threat from COVID-19 has already imposed significant economic costs on China and the rest of the world. Hopes for a short sharp shock, characterised as a V-shaped dip and rapid return to business as usual are rapidly fading. Business should brace for second and third round effects. Read Report

  • It’s how we respond to a crisis that makes the mark of a TMA adviser

    03-19-20

    Our members are at the forefront of turnaround during good times and bad. With the news changing daily about the impact of COVID-19, how the crisis persists and dominates our market and how much disruption it causes are still unknowns. With the financial market selloff, it’s clear these unknowns create uncertainty. Those in the turnaround […]

  • Law reform to enhance turnaround and restructuring

    02-26-20

    TMA supports a broad ranging review of our restructuring law regime – but that review should not turn only to Insolvency Practitioners and lawyers.  Those at the heart of turnaround (our TMA membership) should be involved in a wholistic review.  Diverse and expert insights from those at the coal face should inform that debate. Your […]

  • It’s the smaller turnaround deals that can impact people the most, says Jane Starkins of Scottish Pacific

    04-29-19

    TMA Member Profile  Jane Starkins, State General Manager, Scottish Pacific Business Finance What makes TMA Australia great? The people. The professional community that forms the TMA are people not afraid of hard work to help businesses achieve their goals. There is a strong willingness to help others when they most need it; the work can be relentless […]

  • TMA Australia Events – 2023 Snapshot

    12-11-23

    2023 has been an eventful year for TMA members and guests. Close to 40 events are organised with an amazing turnout by 2800 attendees at the events. This remarkable result would not be possible without the support and contributions by State and NextGen Committee. We are delighted to share with you a video montage on […]

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