Press Releases
LATEST NEWS
19 July 2010 | Barclays Wealth launches Economics Blog
Last week Michael Dicks, Chief Economist for Barclays Wealth, launched his Economics Blog, offering his...
30 June 2010 | Taking stock ……And looking forward to 2011
Reflecting on the events of the last 6 months I am pleased to see that we now finally have a government that...
7 June 2010 | "FINANCIER WORLDWIDE SPECIAL ARTICLE – EMEA RESTRUCTURING”
In the May 2010 edition of Financier Worldwide their special article included an article by Simon Ling-Locke...
6 July 2010 | CUTS MUST BE BALANCED BY REGENERATION, SAYS TMA (UK)
Plans for cuts of up to 40% in the budgets of many Government departments have raised fears of a double-dip recession while economic growth remains critically weak.
23 June 2010 | OSBORNE GETS UK’S TURNAROUND UNDER WAY
Britain’s turnaround has started at last ... and that’s according to the experts! The Turnaround Management Association (UK) has hailed Chancellor George Osborne for producing a strategic Budget with long-term recovery in mind rather than opting for a tactical quick fix.
21 June 2010 | HARSH BUDGET CUTS MUST BE BALANCED BY DEREGULATION
Deep spending cuts in Tuesday’s Budget must be balanced by a concerted effort to stimulate business if soaring unemployment is to be pre-empted, Britain’s turnaround and recovery specialists are warning.
2 June 2010 | GERMAN SPACE ACE SHOWS WAY TO RECOVERY
Expertise. Professionalism. Focus. A cool head. The ability to take decisions under pressure. The flexibility to respond to immediate problems without compromising long-term aims ... yes, the skills required of an astronaut and a turnaround specialist aren’t all that different.
28 May 2010 | HIGHER CGT A TAX ON ASPIRATION, SAYS TMA (UK)
Britain's turnaround and recovery management professionals are backing calls for tapered relief to be introduced on Capital Gains Tax. TMA (UK) fears that Government plans to raise CGT from 18% to rates "close to those applied to income", announced in the Queen's Speech, would deter private equity firms from investing in businesses in turnaround and force distressed companies into insolvency rather than recovery.
12 May 2010 | VINCE CABLE MP TO SPEAK AT TMA (UK) CONFERENCE
Britain's turnaround and recovery specialists are calling for the incoming Government to adopt a measured approach to its £160 million deficit - or face dramatic consequences for many businesses.
16 April 2010 | THIS IS NO TIME TO GO COLD TURKEY, SAYS TMA (UK)
Britain’s turnaround and recovery specialists are calling for the incoming Government to adopt a measured approach to its £160 million deficit – or face dramatic consequences for many businesses.
12 April 2010 | US TURNAROUND STAR TO ADDRESS EUROPEAN CONFERENCE
One of the genuine heavyweights of the American turnaround and recovery profession, Harvey Miller of Weil Gotshal & Manges, is to be keynote speaker at this year’s Turnaround Management Association European Conference.
25 March 2010 | BANK LOAN TARGETS ARE JUST A RED HERRING
Alistair Darling's Budget won’t address the needs of struggling businesses that are still desperately short of liquidity, says TMA (UK).
15 February 2010 | TMA (UK) URGES CAUTION OVER TAX DEFERMENT POLICY
Britain’s turnaround and recovery management professionals are urging all three parties to tread carefully over the ending of “time to pay” arrangements after the General Election, or run the risk of sparking a new surge of insolvencies.
26 January 2010 | ELECTION UNCERTAINTY STIFLES RECOVERY, SAYS TMA (UK)
Banks and businesses risk deepening and prolonging the economic downturn by sleepwalking towards this year's General Election, according to Britain's turnaround and recovery specialists.
5 January 2010 | TOP LAWYER IS NEW PRESIDENT OF TMA (UK)
One of the leading lawyers in the field of restructuring and recovery has been appointed to lead Britain’s turnaround specialists as they help the country’s businesses to struggle out of recession.
15 December 2009 | ALISTAIR'S TRICKY TURNAROUND: NOT TOUGH ENOUGH, SAYS TMA
Chancellor Alistair Darling's bid to postpone the pain of tackling Britain's giant deficit until after next year's General Election creates a real risk of Britain's credit rating being downgraded with severe medium-term consequences for British business, according to TMA (UK).
3 December 2009 | CAUTION URGED OVER BANK REGULATION
British Banking Association CEO Angela Knight has warned Whitehall and Brussels not to rush new regulations for the banking industry.
12 November 2009 | MORE TROUBLE AHEAD IF DEFERMENTS END, WARNS TMA
Any bid by HMRC to boost revenues and cut Government borrowing by ending tax deferments will lead to a second wave of insolvencies and prolong the effects of recession, Britain's turnaround and recovery management specialists are warning. TMA (UK) President Tyrone Courtman will tell members at their annual conference on 19th November that insolvencies are running at a lower rate than expecting during the worst economic downturn in living memory. One of the reasons is that more than 168,000 businesses have been able to defer tax payments – and an incoming Government faced with the need to cut its debts will be strongly tempted to try to claw back £30bn in tax arrears by ending “time to pay” agreements.
9 November 2009 | PRIVATE EQUITY CAN DRIVE RECOVERY SAYS BVCA CHIEF
Private equity has the muscle and the track record to dig struggling companies out of the mire and help drive the UK economy out of recession, Britain's turnaround and recovery specialists will hear at their annual conference on 19th November. Keynote speaker Simon Walker, CEO the British Private Equity & Venture Capital Association, will tell TMA (UK) members gathered at the Royal College of Physicians in London's Regent Park that private equity funds have the management experience, the professional personnel, and, crucially, the cash to turn ailing companies into profitable ones
26 October 2009 | EX-GUNNER IS TURNAROUND PRACTITIONER OF THE YEAR
East Anglia businessman Tony Groom has been named Turnaround Practitioner of the year at Credit Today's 2009 Insolvency & Rescue Awards. Tony is Chief Executive of K2 Business Rescue, based in Gamlingay in South Cambridgeshire, and is a past President of the Turnaround Management Association UK. He follows David Lovett, managing director of global turnaround practitioners Alix Partners, as winner of the award.
2 September 2009 | US TURNAROUND EXPERTS SEE LIGHT IN 2010
A poll of turnaround and recovery management specialists in the US has added weight to the opinion of their UK colleagues that a significant economic upswing will be delayed until early or mid-2010, and possibly a lot longer. TMA (UK) has been warning that apparently optimistic signs from both the housing and stock markets should not be taken as harbingers of early recovery, and that the continuing liquidity crisis means the rate of business failure, with its implications for unemployment and Treasury revenues, will be unnecessarily prolonged.
12 August 2009 | DON'T BE FOOLED BY SIGNS OF RECOVERY, SAYS TMA (UK)
Rising house prices and share values shouldn't be taken as signs of an end to the economic downturn, say Britain's turnaround and recovery professionals. For TMA (UK) is warning that there is still an acute shortage of bank lending to businesses, exacerbated by the increasing cost of available credit which is significantly above the base rate. This affects both the capacity of consumers to demand goods and services and the ability of business to finance the supply, meaning that perfectly viable companies will continue to go under because they are denied access to the operating finance they need.
30 July 2009 | BANKS NOT BACKING BUSINESS, SAYS TMA (UK)
Britain's turnaround and recovery specialists have urged the country's banks to be more even-handed in their approach to business lending. TMA (UK)'s call follows the publication of Bank of England figures that show increases in both individual and mortgage lending, but a sharp drop in the amount of credit made available to businesses.
25 June 2009 | EUROPEAN RECOVERY WILL BE A LONG HAUL, SAYS TMA
Turnaround and business recovery specialists across Europe are bracing themselves for a long battle to rebuild corporate value as the current recession starts to ease. More than 120 delegates from all eight European chapters, as well as from the three chapters currently in formation, attended TMA'S second European Conference, hosted in Amsterdam by the newly-formed Netherlands Chapter. And the key message from the event was that Europe's structural problems were deep-rooted and would persist, and the turnaround profession's services would be in heavy demand for many years to come.
12 June 2009 | TMA (UK) CAUTIONS TORIES OVER CHAPTER 11 PROCEDURES
Britain's turnaround and business recovery specialists have urged the Conservatives not to rush into a commitment to introduce American-style Chapter 11 procedures should they win the next election. TMA (UK)'s warning follows reports that Conservative leader David Cameron was keen on introducing Chapter 11 in Britain in response to widespread criticism of pre-pack administration sales.
21 May 2009 | ALL OVER BY CHRISTMAS? WISHFUL THINKING, SAYS TMA (UK)
TMA (UK) Chairman Tyrone Courtman has dismissed the Chancellor's prediction that the recession will be over by Christmas as wishful thinking. “It won't be over by this Christmas or the next, and probably not until after the Olympics,” says Mr Courtman, of Nottingham-based Cooper Parry.
14 May 2009 | MPs URGED TO PRODUCE HARD EVIDENCE OF PRE-PACK ABUSES
TMA (UK) has challenged the House of Commons Business & Enterprise Committee to produce hard evidence for its claim that confidence in the country's insolvency regime is being undermined by pre-pack administrations.
9 April 2009 | CROSS-BORDER CO-OPERATION IS KEY MESSAGE AT TMA'S 2nd EUROPEAN CONFERENCE
Turnaround specialists from all over Europe will be seeking international approaches to beating the recession when they gather in Amsterdam in June for TMA's second European Conference. The inaugural European Conference held in Paris last year attracted more than 150 delegates from TMA's seven EU chapters. The second event is being hosted by the newly-formed Netherlands Chapter, with the opening keynote address being given by Andrew Wilkinson, Managing Director of restructuring at Goldman Sachs in London.