Forecast 2024
McGrathNicol: Insights for businesses on the year ahead. Consumer confidence has been buoyed by record migration, a defiant housing market and a bull run on global share markets. Both global and domestic inflation appear to have peaked, and the Reserve Bank has seemingly pulled off its improbable “soft landing”. Still, too many Australian businesses are carrying legacy debt. The McGrathNicol Forecast 2024 covers the outlook for the turnaround and restructuring landscape across seven sectors, as well as key themes facing executives including cyber threats, geopolitical risk and an increasing regulatory burden.
Safe Harbour - best practice guidelines
TMA Australia: TMA Australia developed TMA Australia – Safe Harbour Best Practice Guidelines for directors and advisors in relation to navigating Safe Harbour when a company is in financial distress. The guidelines are based on current best practice for workouts. They have been drawn from internationally accepted principles, Australian case law, detailed consideration of the new legislation and input from top tier accounting, investment banks and law firms.
Safe Harbour submission to Treasury
TMA Australia submission: TMA members are actively leading Safe Harbour engagements. In the short time we had to make a submission, we did not have time to survey all members for feedback on their own Safe Harbour experiences. Instead, we took references from around the Board, TMAAs sponsors and from some turnaround advisory firms listed in the submission. We were able to put together [55] case examples inside a few days and to draw some meaningful conclusions from the dataset.
Safe Harbour Sleeper
Company Director, Sydney: 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?
Working Capital report 2024
McGrathNicol: The 2024 Working Capital Report is the 12th edition from the McGrathNicol Cash and Working Capital Centre of Excellence. The report covers the working capital performance of 124 ASX-listed companies across seven sectors, with a combined market capitalisation of $1.15 trillion. This year's findings showed that working capital cycles increased by 0.4 days across the sample, locking up an additional $754 million in cash. The average working capital load increased in four of seven sectors, with 54% of all companies responding to their working capital and profitability challenges by slowing supplier payments and 'passing on some of the pain'.
Working Capital report 2023
McGrathNicol
Turnaround Survey results 2023
KordaMentha / TMA Australia
Turnaround Survey results 2022
KordaMentha / TMA Australia
Guide to restructuring turnaround and insolvency in Asia Pacific
Herbert Smith Freehills: The guide provides a comprehensive and up-to-date overview of the legal frameworks for corporate restructuring, turnaround and insolvency in 18 major jurisdictions across Asia Pacific.
Helping companies restructure by improving schemes of arrangement
TMA Australia submission: 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).
Government consultation on tranche-two reforms
Norton Rose Fulbright: Expansion of Australia’s anti-money laundering and counter-terrorism financing regime and its importance for insolvency practitioners
2023 Online Retail report
FTI Consulting
Corporate Insolvency Reforms - Small business restructures and simplified liquidations
TMA Australia submission: The TMA supports SME law reform which promotes restructuring of businesses facing insolvency through no fault of their own. In October 2020, the TMA submitted its response to Treasury in respect of the Corporations Amendment (Corporate Insolvency Reforms).
How to decide to salvage or wind up a company
Ashurst KPMG: 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 decisions in the life of a company.