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Turnaround Management Association

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Turnaround Management and CTPs CTPs Role in European Corporate Rescue & Recovery

EACTP Position Statement - extracts

Certified Turnaround Professionals (CTPs) operational scope ranges from engagement as experienced transformation managers assisting businesses in the early stages of decline to address and remedy underperformance to acting as Chief Restructuring Officers of viable businesses in extreme distress and close to insolvency to avoid an insolvency event and to turn the business around.

The business rescue skills of CTPs in operational management, finance, and the legal principles of insolvency are invaluable in near insolvency situations to avoid insolvency triggers and save business value.

These skills are delivered through the CTP exam-based online education and training program and its experience-based certification qualification.

These skills are also relevant in accelerated disposals of distressed business and in fresh start operations in restructured distressed business acquisitions. 

CTPs engage with management in an executive  leadership role and do not replace management.

Working with, supporting and counselling management, CTPs stabilise cash flows, eliminate losses, reposition revenues and operations, and engage in negotiations with stakeholders, including secured and unsecured creditors, to navigate the business away from insolvency to restructure a balance sheet supportable by future profitable operations and cash flows.

CTPs are involved in the pre-insolvency commercial restructuring process, albeit within the legal framework of protecting creditors by avoiding collateral dilution. This so-called “zone of insolvency” is commercially a grey area.

CTP skills are relevant in making informed experience-based judgments to avoid possible premature insolvency filings where a viable business exists

The focus of the EACTP is to educate, train and certify turnaround professionals and for the CTP qualification to be recognised as a credible professional qualification in business rescue.

EACTP aims to promote turnaround ahead of insolvency, thus saving more jobs and value in the public and national interest.

EACTP promotes the benefits of turnaround ahead of insolvency through engagement with shareholders, company directors, business management organisations, creditor groups and governments.


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