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Insolvency

Communications Update: TMA in the news – Safe Harbour reform

This article was sourced from TMA Events. 

Yesterday’s Australian Financial Review has published an article on page 6 which positions the TMA in tandem with 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 going and to do this we need…more protection at the Board level, to encourage innovative solutions. It’s about trying to promote solvent solutions.

The article, titled “Insolvency: law might help entrepreneurs”, also highlights TMA’s stance on the need for guiding principles around “qualified advisers” which a company director can turn to when relying on the provisions. TMA Australia’s Certified Turnaround Practitioner (CTP) courses and the CTP and CTA designation provides our members with the qualifications.

Read the AFR’s article by Legal Affairs editor, Katie Walsh, here: http://www.afr.com/business/legal/federal-treasury-to-fasttrack-rules-to-save-struggling-companies-20170502-gvxc0w

In addition, TMA Australia will be producing ‘Best Practice Guidelines’ in relation to Safe Harbour, which will be launched at the TMA National Conference, September (6-7) in Melbourne.

For specialist advice regarding your specific circumstances, please contact the BCR team.

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amy@bcradvisoryblog.com'
BCR team
The BCR Advisory team are a national represented firm with its main office located in Sydney. It is a boutique corporate advisory, recovery and insolvency firm that specialise in the SME market. The team’s reputation is built on their extensive experience within the industry as well as their fresh and innovative approach to problem solving for distressed business owners. Let us know what you thought about this article by leaving a comment below. Alternatively, you can get in touch with the BCR Advisory through our contact page.

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