Welcome to 2020!
EACTP now has a new president, Alan Tilley, and this year we are embarking on a campaign to give CTPs a voice.
The Turnaround industry has been taken over by process workers, for example in a recent article about CVAs in the Times the writer raises the question; wouldn’t it be better for the economy in general and for the creditors to recognise the inevitable and force a break-up of the business immediately rather than prolonging the inevitable death throes and accrue subsequent greater losses? Alan notes here that this misses the problem with CVAs in that they address the balance sheet and sometimes as in recent retail cases gains a reduction in onerous rents, but not the underlying management issues.
By coming together, CTPs can move the default position of the financial community’s thinking from balance sheet restructuring, otherwise reshuffling the asset pack at the expense of the unsecured creditors, to management practice change and turnaround.
We will be in touch with members in the next few weeks with our new programme for EACTP in 2020, but in the meantime we would like volunteer EACTP members for the following:
- Volunteer guest editors for our three newsletters to be sent in 2020
- Articles to be featured in our newsletters
The newsletters will be distributed to all EACTP and TMA Europe members.
If you would like to volunteer as a guest editor or writer, or would like further information, please email Helen Lindop, EACTP Education Coordinator at eactp@turnaround.org.
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