Archive for the ‘Uncategorized’ Category

    Pages
  • 1
  • 2
  • 3

Dear Members and friends of TMA, I am delighted to inform you that the Safe Harbour laws have passed through both houses of Parliament and today are just awaiting royal assent. This is great news and represents a major reform for corporate turnaround in this country. At the eleventh hour there were a number of...

Published 12-09-17 by Categories Uncategorized
show comments0

Last month, Lachlan Edwards, the President of the Turnaround Management Association, and Marcus Derwin, Director, were interviewed for an article which appears in the July edition of the Australian Institute of Company Directors Magazine on the proposed Safe Harbour reforms to Australian insolvency laws.  A special committee of the board comprising Michael Sloan and Kathryn...

Published 02-08-17 by Categories Uncategorized
show comments0

  Dear fellow Members of TMA Australia Over the past two years the Commonwealth Government has promoted a review of the Australian insolvency laws.  In particular, the focus has been on whether it makes sense to provide directors of stressed and distressed corporates with a “safe harbour” to work with suitably qualified turnaround professionals.  This...

Published 22-06-17 by Categories Uncategorized
show comments0

Recently, TMA Board Directors spoke with the West Australian Newspaper on the rise of the Chief Transformation Officer in corporate Australia. The article details how these “change agents” can assist with turnaround in the broader corporate context of stakeholder and financial management. The article also references the TMA’s CTP course in conjunction with the University...

Published 15-06-17 by Categories Management, News, Turnaround, Uncategorized
show comments0

Herbert Smith Freehills share their article with us. Legal Briefings – By Paul Apáthy and Andrew Rich   The New South Wales Court of Appeal has, in a decision that has surprised many practitioners, dismissed an appeal which challenged the composition of classes in the creditors’ scheme of arrangement involving Boart Longyear Limited.1 The background...

Published 07-06-17 by Categories Uncategorized
show comments0

  Ashurst share their article with us: What you need to know On 1 June 2017, the Government introduced the Treasury Laws Amendment (2017 Enterprise Incentives No. 2 Bill) 2017 (the Bill) into the Commonwealth Parliament. The Bill contains two major reforms to Australia’s insolvency laws: - a new safe harbour from civil liability for...

Published 07-06-17 by Categories Legal, Management, News, Turnaround, Uncategorized
show comments0

The Australian Financial Review published an article on page 6 last week, which positions the TMA and AVCAL as two key industry supporters backing the proposed Safe Harbour provisions which form part of the Federal Government’s innovation agenda. National Board director, Marcus Derwin, speaks on behalf of the TMA: “We want to keep the growth...

Published 17-05-17 by Categories Uncategorized
show comments0

KPMG share their article with us. Author: Carl Gunther, NSW Head of Restructuring and National Turnaround Lead, KPMG. Most experts when asked about why a company went broke or defaulted will respond with a collection of good logical reasons specific to the matter. In fact, insolvency practitioners are required to report this as part of...

Published 30-03-17 by Categories Uncategorized
show comments0

Treasury has just released the draft safe harbour and ipso facto legislation and discussion papers.  In essence, a “better outcome” test is put forward which will allow a company to trade on when it is of doubtful solvency.  The onus is placed on directors to take appropriate steps to amongst other things obtain expert advice...

Published 28-03-17 by Categories Uncategorized
show comments0

Herbert Smith Freehills share their article with us: 07 February 2017 | Australia Legal Briefings – By John Angus, Paul Apathy, Mark Clifton and Tony Coburn   On 31 January 2017, Brereton J of the Supreme Court of New South Wales in In the matter of OneSteel Manufacturing Pty Limited (administrators appointed) [2017] NSWSC 21...

Published 22-02-17 by Categories Uncategorized
show comments0