Turnaround Management Association - Southern Africa Blog

TMA-SA lecture series: Turnarounds, Restructuring and Business Support at the IDC

2007-08-06T11:52:00.000+02:00

Date: Thursday 6 September 2007.

Time: Social from 17h30 for talk from 18h30 until 20h30.

Venue: IDC Auditorium, IDC, 19 Fredman Drive, Sandton.

Invitation: Turnarounds, Restructuring and Business Support at the IDC (113k)

Topic: Turnarounds, Restructuring and Business Support at the IDC

IDC’s experience with informal restructuring – Jean Du Plessis

This topic will deal with how the IDC has been carrying out informal restructuring in the absence of formal legislation. Examples of successful restructurings will be given. Jean Du Plessis is the head of the IDC’s Workout and Restructuring dept.

Lessons learnt by the IDC – David McGulwa

This will outline some of the lessons learnt by the IDC in the deals that were not successful and how they are used internally to avoid similar mistakes.

David McGulwa is a senior account manager in the IDC’s Workout and Restructuring dept.

Business support given to IDC clients – Richard Combrink

This will outline the nature of support that the IDC gives to its clients and the involvement of consultants in such process. Richard Combrink manages the Business Support Programme at the IDC.

Cost: R50 for TMA members, R100 per person for non-members.

Welcome: All TMA members, prospective TMA members and the general public.

This invitation was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

TMA-SA looking for an Executive Manager

2007-08-03T05:42:00.000+02:00

Members of the Turnaround Management Association - Southern Africa are invited to apply to the position of Executive Manager: TMA-SA.

Nature of the position:

Probably full-time with 50% availability i.e. working 10 days per month, but scheduled around TMA-SA activities and the TMA-SA timetable.
Ideal for a participant in the turnaround industry with other sources of income.
The following is considered to be an advantage:
- Knowledge of TMA-SA and the turnaround industry in Southern Africa.
- Past TMA-SA board/Exco experience.
- Providing an office infrastructure (board room, administrator, administrative infrastructure, etc.) to TMA-SA.
Remuneration is negotiable - could include or exclude an office infrastructure.

Duties:

Day-to-day administrative, operational, marketing, legal and management activities of TMA-SA to enable it to provide networking, knowledge, education and promotion to its members.
Attendance of TMA-SA board meetings, Exco meetings and functions.
Direct support to the CEO and COO.
The Executive Manager will report to the Chief Operating Officer. The Executive Directors on the TMA-SA board (CEO, COO, Secretary, Finance, Marketing, Education & Knowledge, and Informatics) remain accountable for policy, direction and execution in their portfolios, but will rely on the Executive Manager for taking care of day-to-day activities and doing the legwork. The current position of Operations Director will probably be folded into the function of the Executive Manager.

Application process:

Please email your application to (COO of TMA-SA), which should include the following:
- Technical and financial proposal - remuneration, availability, office infrastructure included/excluded and costs thereof, etc.
- Experience and knowledge of the turnaround industry in Southern Africa.
- CV.

Notes:

Funding for this position must still be secured, and the successful applicant may be required to assist in crafting the business case and participating in the fund raising process.
TMA-SA is not under any obligation to make an appointment.
TMA-SA can change its requirements - the onus is really on the applicant to propose a practical and financially affordable solution.

This news flash was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

For more information, see Turnaround Events.

Future strategic direction of TMA-SA

2007-07-31T05:41:00.000+02:00

The board of directors of the Turnaround Management Association - Southern Africa (TMA-SA) held a strategic planning workshop on Saturday 13 July.

The traditional value propositions of networking, knowledge capturing and dissemination, education, and promotion to industry and government (new business rescue legislation, turnaround funding, etc.) remain in place, but will take on a new flavour.

The board accepted two far-reaching strategic goals and objectives, which are in the process of being converted into action plans by the Executive Directors.

TMA-SA to become a self sustaining entity with more value-added services to its members:
- Commercialise (not having to rely on membership fees to fund operations any more).
  - Generate its own income through offering educational services in alliance with universities (conferences, short courses, certification programmes, degree programmes, etc.). This rather than our members offering their participation free of charge.
- Appoint a full-time Executive Manager (not having to rely on the voluntarily spare time of Directors anymore).
- Act as a stronger access/networking intermediary between members and the constituencies in the turnaround industry.
- Sponsorship to fund the iniatives above.
TMA-SA to become a professional organisation:
- Graduated levels of membership e.g. member (open to all) and certified member (exam and other requirements).
- Certification of members.
- Code of ethics.
- Possible alliance with another professional organisation to allow us to share their administrative infrastructure and professional body/educational know how.

For more information, see Turnaround Events.

TMA-SA Lecture series: When private equity funding might be available in a turnaround situation, and on what terms and conditions 7 June 2007

2007-05-09T10:54:00.000+02:00

Date: Thursday 7 June 2007.

Time: Social from 17h30 for talk from 18h30.

Venue: Corporate Finance Main Boardroom, Building 6, Deloitte Place, The Woodlands, Woodlands Drive, Woodmead, Sandton.

Map to event: Map to Deloitte (54k).

Invitation: Private Equity in Turnarounds - TMA-SA event on 7th June (29k)

Topic: When private equity funding might be available in a turnaround situation, and on what terms and conditions

The talk will be aimed at turnaround managers and based on many years of practical experience as well as post graduate studies in this field. It will focus on one of the key requirements for private equity availability i.e. the need for an appropriate turnaround strategy, to be in place. The talk will also include “real-life” lessons learnt from recent turnaround strategies performed for two clients of Sasfin Ltd.

Speaker: Vernon Leas, Executive Consultant, Sasfin Private Equity

Vernon Leas has a B Comm (Unisa), MBA (Henley UK), SEP (Harvard). After doing his articles at Coopers & Lybrand, he served in various financial and general management positions in Barlows, Altron and Malbak before taking the CFO then CEO role at a listed IT firm. He currently runs his own business in investment management and strategic and turnaround consultant.

Cost: R50 for TMA members, R100 per person for non-members.

Snacks will be served and a cash bar will be available. Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by Monday 4 Junel to Lynne at or 011 964 2895. Those who require invoices for the cost should request these from Lynne.

For more information, see Turnaround Events.

Corporate turnaround and rescue strategies workshop 28 - 29 May 2007

2007-05-08T05:58:00.000+02:00

Date: 28 - 29 May 2007

Time: All day event.

Venue: Fairlawns Hotel, Sandton

Topic: Corporate turnaround and rescue strategies workshop

Cost: SAICA members & trainees - R5 809.15 (incl. VAT) Non-members - R6 834.30 (incl. VAT)

Brochure: Corporate Turnaround and Rescue Strategies (261k)

Note: This is not an officially TMA-SA event.

Programme:

Strategic Executive one of SAICA's Alliance Partners will be hosting a Corporate Turnaround and Rescue Strategies workshop.

Who should attend?

Managers; business decision makers; accountants; lawyers; corporate finance professionals and bankers working in business rescue situations; service providers to troubled companies; investors and lenders to distressed companies.

Objectives

The purpose of the two day workshop is to give an overview of current developments in corporate turnaround and restructuring in South Africa and to further develop rescue strategies for organisations facing insolvency. It provides an understanding of the timelines to financial distress, the factors contributing to the different levels of corporate decline as well as strategies for overcoming the problems, restoring corporate value and returning business to profitability. The aim of turnaround strategy is to ensure organisations can avoid severe disruption, even liquidation and rather be turned around/rescued to maximize return for stakeholders, including creditors and employees. Practical case studies involving the saving of businesses facing difficulties will be examined.

Learning Outcomes

After completion of this workshop, participants should be able to:

Understand the legislative framework to turnaround and business rescue in South Africa;
Identify signs of pending distress/failure in business;
Assess, manage and maximize value of assets in turnaround and business rescue scenarios;
Understand the turnaround and rescue strategic options that need to be pursued; and
Understand the principles of the underlying strategy.

Programme Duration

First Day: Registration 08:30 - 09:00 Workshop begins 09:00 Ends at 17:00

Following Day: Start 09:00 end 17:00

About the Presenters

Carl Komape

The lead presenter is Carl Komape, who has spent a number of years at global advisory firm KPMG. He has extensive experience with corporate restructuring and turnaround situations. In 2005, Carl was seconded to the Association for the Advancement of Black Accountants in Southern Africa (ABASA) as executive director. Amongst his responsibilities, Carl represented ABASA on the board of the financial services Seta (FASSET) and also sat on the negotiating forum to draft the Chartered Accountancy Transformation Charter. Carl has also written, edited and published articles dealing with areas of business performance enhancement, business transformation and turnaround, corporate governance, and business rescue. He has recently joined Matasis Consulting (Pty) Ltd in the Business Rescue division.

Vincent Marino

Mr Vincent Marino has authored a number of books including the "Business Survival Guide - strategies for struggling businesses" and the popular book "Buying and Selling a Business". He has consulted for a number of years to troubled businesses assisting them to evaluate and implement turnaround strategies. He also served on the initial board of the Turnaround Management Association - Southern Africa.

Bob Power

Mr Bob Power is a lawyer (Barrister by profession), and well known as an adviser to major companies and financial institutions over many years, mainly in the fields of mergers and acquisitions including negotiations, due diligence investigations, and the practicalities of entering or exiting business. He is also an active author and lecturer on a wide range of business and governance issues. He not only lectures on these subjects but also consults and assists with their implementation from entrepreneurs to major corporations.

For more information, see Turnaround Events.

Programme: Managing a turnaround

2007-04-25T01:08:00.000+02:00

Date: 14 - 18 May 2007.

Venue: Wits Business School.

Programme details and application form: Click on Managing a Turnaround 2007 brochure.

Cost: R14 300 includes tuition, instruction material, workbook, refreshments and lunches.

Discount for TMA-SA members: Not available anymore.

Enquiries: Debbie Sachs: email or phone 011 717 3637.

MANAGING A TURNAROUND

This five-day programme (with the last day being a workshop) provides participants with an insight into the various stages and processes of turnaround management. Definition, stages of a turnaround, rapid appraisal and detailed analysis, recovery plan development and implementation will be covered. The financial, legal, internal and external; politics and human considerations are evaluated in depth. The people who have led successful South African turnarounds present their case studies.

The Programme Outline

How turnarounds differ from “normal” management.
Typical stages of a turnaround.
Rapid appraisal of a situation, crisis management and emergency actions.
Stabilisation.
Detailed analysis and recovery plan development.
Rehabilitation or “return to normal”.
Legal aspects of a turnaround.
Financial aspects.
Marketing Aspects.
Managing working capital.
Internal and external political considerations.
Change management.
Human resource leadership in a turnaround.
Managing stakeholders.
Early warning signals.
Lessons from bitter experience.
Case studies from private sector, parastatal and government.

Who should attend?

The programme is designed for all those individuals, CEOs and managers currently involved in or likely to be confronted with turnaround situations or teaching relevant subjects.

For more information, see Turnaround Events.

TMA-SA May lectures series: Business rescue legislation panel discussion

2007-04-25T01:04:00.000+02:00

Date: Thursday 3 May 2007.

Time: Social from 17h30 for talk from 18h30 until 20h30.

Venue: Building 3, Deloitte Place, The Woodlands, Woodlands Drive, Woodmead, Sandton.

Map to event: (54k).

Invitation: (29k)

Topic: Business rescue legislation panel discussion.

Panelists and programme

Opening remarks by the Chairman Judge Ralph Zulman. Judge Ralph Zulman is a well-known supporter of new business rescue legislation, and was a panelist at the dti's business rescue legislation discussion at the Companies Bill conference in March 2007.
Panelists (about 10 minutes each)
- The business rescue process (commencement, supervisor appointment, business rescue plan publication and approval, critical path, termination) by Jan van der Walt. Jan is a member of TMA-SA and ABASA and contributed to the submissions of both organisation to the dti on the draft legislation.
- The supervisor (who is he/she?; need for regulation, admission criteria, exam, etc.) by John Evans. John is a member of TMA-SA and ABASA and contributed to the submissions of both organisation to the dti on the draft legislation.
- Impact on banks (creditors not appointing the supervisor, shift in decision-making power away from secured creditors, Banks' secured lending base will be eroded, etc.) by Martin Leigh. Martin is a member of the Banking Council and ABASA and contributed to the Banking Council submission to the dti on the draft legislation.
- Impact on the liquidation industry by Hans Klopper. Hans is a member of AIPSA.
- The academic perspective (debtor-friendly company business rescue legislation vs. creditor-friendly present and future insolvency legislation, etc. by David Burdette. David is a insolvency law expert, member of TMA-SA, ABASA and AIPSA, and contributed to the submissions of both organisation to the dti on the draft legislation.
Floor discussion - questions to panelists and open debate. Keith Braatvedt is the additional panelist to answer legal questions. Keith is a member of TMA-SA and AIPSA and contributed to the TMA-SA submissions to the dti on the draft legislation.
Closure by Chairman.

Cost: R50 for TMA members, R100 per person for non-members.

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by Monday 30 April to Lynne at or 011 9642 895. Those who require invoices for the cost should request these from Lynne.

For more information, see Turnaround Events.

AIPSA conference on Companies Bill, 2007

2007-04-19T11:19:00.000+02:00

Date: Friday 11 May 2007.

Time: 10:00 for 10:30 to 15:00.

Venue: Auditorium at Routledge Modise Attorneys, 22 Fredman Drive, Sandton.

Topic: Companies Act and Business rescue discussion

Speaker: The topic will be presented by Professor David Burdette and Dr Sulette Lombard from Faculty of Law of the University of Pretoria with specific emphasis on insolvencies and company rescue.

Cost: Cost R285.00 per person (VAT included) and inclusive of coffee / tea together with light refreshments on arrival, lunch and afternoon coffee / tea. The cost will also cover the handouts of the presentations.

Limited seats are available and you are requested you to reply by 3 May 2007 to

On receipt of your acceptance of the invitation an invoice will be issued to you/ your employer to be settled prior to attendance.

There is ample parking available in the building and we have arranged the times of the presentation to limit the possibility that delegates will encounter traffic problems.

For those of you who wish to stay behind a cash bar will be available after the formalities have been concluded.

For more information, see Turnaround Events.

TMA-SA March 2007 newsletter

2007-03-30T09:02:00.000+02:00

TMA-SA Board of Directors for 2007

2007 TMA-SA Board of Directors in the picture: Gert Holtzhauzen (Chair), Lebo Moshidi, Keith Braatvedt, Zeenath Kajee, Philip Reynolds (Financial Director), Ntombi Langa-Royds (CEO), David Harding (Education & Knowledge), Nicola Meyer, Jan van der Walt (COO and Informatics), Colin Batchelor (Marketing).

Six new directors were elected at the AGM on 29 March 2007, and the new board elected its chair and executive directors at a board meeting thereafter. The 2007 Board of Directors, and the board structure is as follows:

Chair	Gert Holtzhauzen
Position	Executive Director	Non-Executive directors in sub-committees
Chief Executive Officer	Ntombi Langa-Royds
Chief Operating Officer	Jan van der Walt
Secretary	Karl Gribnitz
Financial Director	Philip Reynolds	Matsotso Vuso
Marketing Director	Colin Batchelor	Garrath Rosslee, Nicola Meyer
Operations Director	Dale Pudney	Lebo Moshidi
Education & Knowledge Director	David Harding	Keith Braatvedt, Professor David Burdette
Informatics Director	Jan van der Walt	Zeenath Kajee

2007 AGM and Special meeting

Six new members were elected to the board of TMA-SA at the AGM held on 29 March 2007:

Keith Braatvedt (Routledge Modise)
Gert Holtzhauzen (Nedbank)
Zeenath Kajee (SAFTRUST)
Nicola Meyer (Sonnenberg Hoffman Galombick)
Lebo Moshidi
Matsotso Vuso (Corporate Renewal Solutions).

The Chair submitted his report, and members approved the amended Articles of Association, as well as the 2005 and 2005 Annual Financial Statements.

TMA-SA members at the 2007 AGM and Special Meeting.

Robin Taggart chairing the AGM and special meeting.

TMA-SA's submission to dti on draft business rescue legislation

TMA-SA's comments on business rescue provisions as contained in Chapter 6 of the Companies Bill, 2007 can be downloaded at Business rescue legislation comments. It addresses general themes about the draft business rescue legislation as a whole, key success factors for business rescue in South Africa, and comments per section of Chapter 6 of the Bill.

Past conferences

A number of TMA-SA members attended the INSOL conference in Cape Town from 17 - 20 March 2007, while others attended the dti's Companies Bill Conference in Pretoria on 19 and 20 March 2007, with the panel discussion on business rescue of particular interest.

This newsletter was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

TMA-SA March 2007 lecture series invitation

2007-02-08T10:54:00.000+02:00

Date: Thursday 1 March 2007.

Time: Social from 17h30 for talk from 18h30 until 20h00.

Venue: Auditorium, Building 3, Deloitte Place, The Woodlands, Woodlands Drive, Woodmead, Sandton.

Topic: BEE as a catalyst for, and strategic consideration in, turnarounds.

Invitation: (306k)

Map to event: (54k)

Speaker: Don Lindsay, Partner, Katlego Syzygy (Pty) Ltd.

Don spent 18 years in the hospitality and food service industry before doing a full-time MBA, which included exposure to change management and he got to experience an economy with a very significant small business sector. He set up a company in 2001 with the very confused objective of providing small business with strategy support and corporates with change management assistance. This eventually morphed into Katlego Syzygy, a highly specialised consultancy that helps large corporates with enterprise development – a key element of the BEE scorecard that requires companies to make significant investments in the SME sector. The company counts Steinhoff Group, Edcon, Anglo American and the Barloworld Group amongst its clients.

Abstract: While BEE should already be an important consideration in the design of sustainable turnaround strategies in SA, it will, in the near future, become a major catalyst contributing to the decline of otherwise healthy organisations. The presentation will explore the fundamentally strategic nature of BEE, why it is already key to the sustainability of turnarounds and how BEE itself is likely to introduce a new & unique flavour to the turnaround sector in SA.

Cost: R50 for TMA members, R100 per person for non-members.

We thank the National Productivity Institute’s Social Plan who will sponsor the snacks and drinks for the evening. The Social Plan supports turnaround and pro-active solutions to avoid job losses if there is a risk of a viable company failing. www.turnaroundsolutions.co.za

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by Monday 26 February to Lynne at admin at tma-sa.com or 0119642895.

More on the March INSOL Cape Town conference registration cost

2007-01-10T22:10:00.000+02:00

5 members have already applied for INSOL membership via TMA in the past few days to qualify for the cheaper INSOL member conference registration fees. But there are more members asking for information about the total conference cost.

Let's start at the beginning - you really need to read the INSOL conference brochure in any event, which you can download at Cape Town INSOL conference brochure. The brochure contains a registration form, but you can also register electronically by clicking [here].

Registration fees are on page 8 of the brochure. We are beyond the early bird cut off date, and only the key events are listed below that most members are likely to be interested in. There are other Ancillary Meetings in the brochure. The pricing structure is as understood from INSOL but stated in Rand terms.

FOR INSOL MEMBERS

300		British pounds for the Turnaround and Reorganisation Ancillary Meeting on Saturday 17 March
+ 985		British pounds for the main conference Sunday 18 - Tuesday 20 March
= 1285		British pounds total
X 14		(R14/British pound)
= R17 990
- R 5 397		30% discount
=R12 593		Total payable to INSOL before accommodation and flights
+R 730		$100 to become an INSOL member via TMA - contact Lynn at admin@tma-sa.com to become an INSOL member. If you already are an INSOL member, disregard the R730.
=R13 323		Total

FOR NON-INSOL TMA-SA MEMBERS

This option is really redundant if you are a TMA-SA member - rather become an INSOL member too and inexpensively so as described above.

Notes:

Add accommodation and your traveling costs to the total. Accommodation is reserved at the ArabellaSheraton and can be booked using the registration form until 16 January, but it seems expensive. You may want to try the City Lodge which I understand is opposite the congress venue at the Waterfront.
The brochure states that the conference ends on 21 March but this is just to ensure that you attend the gala dinner Tuesday night before leaving on Wednesday - this has been confirmed with INSOL.
At time of writing, the exchange rates were R14/British pound and R7,3/US$.

Cape Town: INSOL conference 18 - 20 March 2006 plus Turnaround & Reorganisation Ancillary Meeting 17 March 2006

2006-12-29T21:04:00.000+02:00

For full details about this prestigious international conference held in South Africa, see INSOL Cape Town brochure.

It presents an excellent networking opportunity for TMA-SA members and the chance to exchange views on technical and practice management topics with international delegates.

Turnaround and reorganisation ancillary meeting

The programme starts with ancillary meetings on Saturday 17 and Sunday 18 March. These include the one you may interested in - the Turnaround and Reorganisation Ancillary Meeting takes place on Saturday 17th. INSOL has invited TMA-SA to work together on this ancillary meeting.

Topics include balance sheet issues, goal of lenders, "loan to own", impact of Chief Restructuring Officers, and shrinking your way to greatness. John Evans of TMA-SA will chair one of these sessions.

Main conference programme

The main programme commences with registration and a cocktail function on Sunday 18 March, followed by 3 sessions running in parallel over the next two days:

The general cross border issues sessions cover management change in insolvent family owned businesses (Jan van der Walt of TMA-SA will participate in the panel discussion), employee rights in insolvency, fees and remuneration, multinational corporate collapses, recovering and dealing with difficult assets, and an update on cross border developments.
The sessions covering specialist areas deal with stakeholder diversity, debt equity swaps, credit derivatives, out of court restructuring in emerging markets, dealing with long tail liabilities in restructuring, and a mining industry case study.
The third set of sessions deal with smaller practice issues and include smaller practitioners, practice management issues, consumer debt internationally, pre and post appointment issues, creditor issues and litigation.

On Monday 19 March there will be a plenary session on insolvency and restructuring systems in emerging markets. Professor David Burdette of TMA-SA will be one of the speakers. On Tuesday 20 March there are two more plenary sessions - "Depressions and recessions - an economist's perspective", and "Global trends in judicial cooperation".

The programme ends with a gala dinner on the Tuesday night.

HOW TO BE SHARP ABOUT THE CONFERENCE FEES - 1

The main programme (accommodation excluded) costs 985 British pounds for INSOL members and 1135 British pounds for non-members. The difference is 150 British pounds or approximately R2 100.

For the turnaround and reorganisation programme its costs 300 British pounds for INSOL members and 350 British pounds for non-members. The difference is 50 British pounds or approximately R700.

Not an INSOL member? The normal INSOL membership registration fee is US$250. You can however, become an INSOL member via TMA for only US$100 or approximately R700. Simply contact Lynn at admin at tma-sa dot com to register you as an INSOL member - at a cost of R700 you will save R2 100 off the main programme and R700 off the ancillary turnaround programme.

At time of writing, the exchange rates were R14/British pound and R7,3/US$.

HOW TO BE SHARP ABOUT THE CONFERENCE FEES - 2

You will be entitled to a further discount of 30% on all programmes, whether you are an INSOL member or not.

HOW TO REGISTER AND ARRANGE ACCOMMODATION

See the INSOL Cape Town brochure or register electronically at INSOL Cape Town Conference Electronic Registration.

TMA-SA: Driven forward by its members

2006-11-27T06:42:00.000+02:00

Turnaround Management Association - Southern Africa has achieved a great deal in its first full year of operation. The board has recently reviewed the past performance and planned the way ahead to ensure TMA-SA is further entrenched as the industry body we intend to be.

We achieved recognition from government

This is best illustrated by recent events in which the Department of Trade & Industry as well as the National Treasury requested TMA-SA to advise it on improving turnaround and business rescue in South Africa.

The presentations were well received and National Treasury expressed the hope that “we will work well together… going forward…”

Our networking and educational events are growing in popularity

These presentations came about due to the sustained promotion of TMA and its members throughout the year through our monthly lectures and participation in various conferences, such as that held at Wits Business School. The monthly lectures are growing in popularity as we see from our growing database of people interested in attending. The networking opportunity so valued by members is also gaining momentum through these events. The next one is on 29th November at WBS when Vernon Leas of Sasfin Private Equity will present on “When private equity funding might be available in a turnaround situation, and on what terms and conditions.”

We are improving our ability to deliver on our member’s needs

Behind the scenes the Board and its Exco have been busy creating a firm foundation for the future development of TMA-SA. A strategy has been agreed and a plan put in place to significantly enhance the reputation and influence of TMA-SA. This includes a possible alliance with ICSA to share resources and to jump start our ACTP programme so that we can introduce the Chartered Turnaround Practitioners accreditation in South Africa soon. In addition to strategic issues, a secretariat has been established, a web site (www.tma-sa.com) and Internet forums established, enabling better communication for members.

We will continue to leverage the international knowledge base to position ourselves at the forefront of changes in the industry

We should not forget that we are a licensee of TMA International and enjoy many rights and privileges as a result. This organisation has well over 7000 members throughout the world including new chapters in Germany, Finland and India. The knowledge that TMA possesses is invaluable in guiding the Exco and will be even more useful as South African business legislation moves towards the American “Chapter 11” model next year. We will have an early opportunity to leverage our membership of TMA in March 2007 by participating in the INSOL conference to be held in Cape Town.

But we can’t do this without your support

In view of the excellent progress made this year and the exciting plans for next year, we hope that members will renew their membership to TMA-SA for 2007. To this end, invoices for membership renewal membership has been mailed to all TMA-SA members.

TMA-SA newsletter - November 2006

2006-11-19T23:23:00.000+02:00

Reaching out to government

On 6 November 2006 Ntombi Langa-Royds and Jan van der Walt of the Turnaround Management Association - Southern Africa made presentations to:

Tshepo Mongalo (Project Manager: Company Law Review) of the Department of Trade and Industry.
A number of directors of National Treasury.

on Improving turnaround and business rescue in South Africa - how government can contribute, and how TMA-SA can assist.

The presentation covered the following:

Turnaround situations.
Causes of distress.
Turnaround strategies.
Turnaround industry in South Africa.
Turnaround industry driving forces.
Turnaround industry constraints.
Government interventions - new business rescue legislation, new Companies Act, business rescue funding, labour legislation, taxation.

Email received from National Treasury: "Thank you for taking the time to meet with us - we were very impressed with the quality of the presentations. I trust that we will work well together on a going forward basis and that we can play a part in assisting the turnaround of South African businesses".

National Treasury has requested TMA-SA to conduct a survey regarding the chances of success of the different stages in the timeline of financial distress. The survey is being formulated.

In addition, National Treasury has requested TMA-SA to be available to play a facilitating role between a number of government departments.

The Department of Trade and Industry announced that new business rescue legislation will be promulgated in October 2007. The dti also requested TMA-SA to make a proposal regarding business rescue legislation, including certification of supervisors.

Reaching out - lenders and investors, and service providers functions

TMA-SA is planning a social function with bankers and the private equity community in Johannesburg during 2007, followed by a similar function for service providers - consultants, turnaround practitioners, insolvency practitioners, lawyers, etc.

The objective is not only to introduce TMA-SA, but also to hear first hand from guests how TMA-SA can better serve them.

Quarterly newsletter

The first quarterly newsletter will be published in 2007 only.

This newsletter, will be available as a glossy print publication, for public distribution, as well as in electronic format.

Date of next general meeting of members and election

The next general meeting of TMA-SA members will probably take place in March or April 2007.

At the meeting, TMA-SA members will:

Vote for the approval of amended Articles of Association and By-Laws (see below).
Elect the 2007 Board of directors.

Amended Articles of Association and By-Laws

The revised Articles of Association and By-Laws, for approval by members at the general meeting of members in 2007 (see above) are essentially completed.

The revision has been prompted by TMA-SA now an affiliate of TMA rather than a Chapter, allowing us more flexibility, and the need to cater more explicitly for BEE within our structures without past Chapter-related restrictions.

The amended documents will be distributed to members to preposition them and solicit comments when ready

TMA-SA November lecture series invitation

2006-11-05T23:22:00.000+02:00

Date: Wednesday 29 November 2006.

Time: Social from 17h30 in Academic Lounge for Talk from 18h30 in LT1.

Venue: Wits Business School, 2 St David’s Place, Parktown.

Topic: When private equity funding might be available in a turnaround situation, and on what terms and conditions

Invitation: (110k)

Map to event: (117k)

Speaker: Vernon Leas of Sasfin Private Equity.

Abstract: The talk will be aimed at turnaround managers and based on many years of practical experience as well as post graduate studies in this field. It will focus on one of the key requirements for private equity availability i.e. the need for a turnaround strategy, to be in place. The talk will focus on Key elements, Strategic business plan, Stages and Critical success factors of the turnaround strategy. The talk will also include “real-life” lessons learnt from recent turnaround strategies performed for two clients of Sasfin Ltd.

Cost: R50 for TMA members, R100 per person for non-members.

Snacks will be served and a cash bar will be available.

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by Monday 27 November 2006 to admin at tma-sa.com.

TMA-SA October lecture series invitation

2006-10-05T23:17:00.000+02:00

Date: Wednesday 25 October 2006.

Time: Social from 17h30 in Academic Lounge for Talk from 18h30 in LT1.

Venue: Wits Business School, 2 St David’s Place, Parktown.

Topic: Legal risks for directors and consultants of distressed companies.

Invitation: (114k)

Map to event: (117k)

Speaker: Kevin Cochran, Legal Advisor, Nedbank Special Portfolio Unit.

After reading for his BA degree at WITS and BA(hons) LLB at Rhodes, Kevin served articles at Webber Wentzel Bowens in Johannesburg, where he practised after being admitted as an attorney. Kevin subsequently joined Nedbank Corporate's Special Portfolio Unit, where he has worked for the past three years as a legal adviser, advising members of the Unit on the legal aspects of business rescue, the management of high risk debt and financially stressed debtors and multi creditor work-outs.

Abstract: A practical guide for turnaround managers, consultants, directors and other stakeholders in distressed companies to selected provisions of the Companies and Insolvency Acts in the context of business rescue, focusing on voidable dispositions, the disposal of assets and the potential liability of directors and officers during the turnaround phase of business rescue.

Cost: R50 for TMA members, R100 per person for non-members.

Snacks will be served and a cash bar will be available.

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by Monday 23rd October 2006 to admin at tma-sa.com.

TMA-SA September webinar invitation

2006-09-05T23:08:00.000+02:00

Date: Wednesday 27 September 2006.

Time: 18h00 South Africa time, 12h00 noon USA Eastern time

Topic: Guidance for All Constituencies in "Zone of Insolvency".

Description: When a company becomes insolvent or enters the "zone of insolvency" various constituencies face shifting duties. The Turnaround Management Association presents an hour-long live webinar on "How Deep is Your Insolvency?" to give some guidance on this topic.

Beginning at 12 noon Eastern, panelists examine key business and legal issues from the perspective of the lender, borrower and other secured and unsecured stakeholders.

The moderator is J. Andrew Rahl Jr., Anderson Kill & Olick, P.C., with a panel comprised of: Allison Adornato, CIT Business Capital; Robert D. Katz, CTP, Executive Sounding Board Associates Inc; and Jordan W. Siev, Anderson Kill & Olick, P.C.

The speakers will discuss:

What duties does the borrower's management owe to the creditors?
What steps should be taken to shore up liquidity and keep the business running?
Does the lender refuse requests for further borrowings?
Does the lender call the loan?
Can the lender request additional security?
Are management changes needed?
Does a bankruptcy filing make sense?
What are the potential liabilities for the lender's and borrower's management?

Cost: The cost is $49.95 for TMA members and $99.95 for nonmembers. Registration can be completed online at www.turnaround.org

TMA-SA newsletter - August 2006

2006-08-08T01:54:00.000+02:00

Monthly newsletters

Missed all the emailed and web site news items? Losing track of what's happening in TMA-SA?

This post represents the first monthly TMA-SA newsletter - that for August 2007.

The objective of the monthly newsletters is not only to summarise recent news and developments posted on the web site and Google Groups, but also to increase the transparency of the Board and Exco proceedings.

These newsletters will be published a week or so after each month's Board or Exco meeting, which normally takes place on the first Thursday of every month.

Quarterly newsletter

It's August already and our first quarterly newsletter is still in process. Why so late?

Well, we are still novices with regard to the technical aspects. The structure of our first draft was based on reporting per portfolio function, but our organisational structure is changing. And with all the delays, the content got stale.

This newsletter will be available as a glossy print publication, for public distribution, as well as in electronic format. What to expect? A secret still, but you can look forward to three insightful articles.

Turnaround forums

It has been statistically proven that turnaround professionals in Southern Africa enjoy reading, but are tardy to take a public stand!

The new turnaround forums section generates 3000 page views per week. That means a lot of reading takes place. However, hardly anybody has posted new topics or replied to posts from Exco!

We all have ideas and issues on our minds. The forums present the facility to air points of view, debate, suggest and comment on anything related to TMA-SA, the professional disciplines it represents, and the industries it operate in.

The forums represent a better medium for discussion and comments than the Google Groups, with the latter from now on being used as an email facility for announcements and distributing documents.

What topics can be found in the forums?

There are open forums on the turnaround industry in South Africa, new business rescue legislation, and TMA-SA.
For TMA-SA members only, there are closed TMA-SA forums - on "Exco needs your opinion" and a forum for the portfolio of each Executive Director. Learn what Exco members have in mind for TMA-SA, and say your say.

By participating in these forums, TMA-SA members will not only help improve knowledge of the corporate renewal, turnaround and business rescue industries in Southern Africa, but also help improve the effectiveness of managing TMA-SA.

Reaching out - lenders and investors function

TMA-SA is planning a social function with bankers and the private equity community in Johannesburg during the second half of 2006.

The objective is not only to introduce TMA-SA, but also to hear first hand from guests how TMA-SA can better serve them.

Reaching out - service provider function

The lenders and investors function could be followed by a similar function for service providers - consultants, turnaround practitioners, insolvency practitioners, lawyers, etc. early in 2006.

Reaching out to government

TMA-SA is planning to formally introduce TMA to government structures and public sector development funding institutions through meetings and presentation in the next few months.

Journal of Corporate Renewal to be distributed to TMA-SA members

When TMA-SA became a licensee, its members lost access to TMA's Journal of Corporate Renewal which formed part of the Chapter dispensation.

The good news is that TMA-SA will purchase and distribute to TMA-SA members the monthly copies of this prestigious publication.

TMA-SA brochures

Brochures aimed at different target markets are close to completion.

Date of next general meeting of members and election

The Board of Directors set the next general meeting of TMA-SA members for Thursday 8th February 2007. The date is in accordance with SA law that a meeting of members be held within 18 months of formation.

At the meeting, TMA-SA members will:

Vote for the approval of amended Articles of Association and By-Laws (see below).
Elect the 2007 Board of directors, inclusive of electing the 2007 Executive Directors.

Amended Articles of Association and By-Laws

The Board has started processing revised Articles of Association and By-Laws, for approval by members at the general meeting of members on 8th February 2007, which may be further affected by the Board's strategic planning workshop held on 6 and 7 October 2006.

The amended documents will be distributed to members to preposition them and solicit comments as soon as they are completed.

New member registration procedure

The Board decided at its meeting on 3 August 2006 that new membership applications will not be automatically accepted anymore.

Instead, new applications will be vetted by the board within a week.

Only after that will a new member be notified of acceptance as a new member, and invoiced.

The new registration procedure has been posted on the web site.

Proposed new board composition and organisational structure

The new executive structure, discussed in a previous post, will be implemented as soon as the staffing thereof is finalised.

View the new organisational proposal Powerpoint presentation, and discuss it in the Exco needs your opinion forum.

TMA-SA August lecture series invitation

2006-08-05T22:37:00.000+02:00

Date: Wednesday 30 August 2006.

Time: Social from 17h30 for Talk from 18h30.

Venue: Wits Business School, 2 St David’s Place, Parktown.

Topic: Small Business Turnarounds

Invitation: (114k)

Map to event: (117k)

Speaker: Colin Bachelor, M.I.Mech. E., B.Sc. (Eng)., Hons., A.C.G.I.

Colin is a Chartered Mechanical Engineer with over twenty-five years international business experience. He has been involved in numerous management led turnarounds with small and medium sized businesses. He is a Director of Phetiso Enterprise Development (Pty) Limited, a company that specialises in business development for SME’s.

Description: There is no shortage of advice and assistance for starting a small business, but what do you do if your established business loses money and starts to get into difficulty? With particular emphasis on the special circumstances of a small business owner. This practical talk will offer advice on how to avoid common mistakes and what to do when faced with an impending crisis.

Cost: R50 for TMA members, R100 per person for non-members.

Snacks will be served and a cash bar will be available.

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by 28th August 2006 to admin at tma-sa.com.

Proposed new TMA-SA board composition and organisational structure

2006-07-19T03:16:00.000+02:00

View the new organisational proposal Powerpoint presentation.

Discuss in the appropriate Exco needs your opinion forum.

TMA-SA members will vote for the new term structure of directors and elect the 2007 directors at the general meeting of members on 8 February 2007. Your feedback (in the discussion group) will therefore be appreciated.

In essence, the new structure:

Increases non-executive directorships from 3 to 8, allowing for better BEE credentials by recruiting influential government and business leaders.
Decreases executive directorships from 12 to 8, allowing for easier management by the CEO:
- CEO.
- Deputy CEO - ad hoc activities as directed by CEO.
- Secretary - administration, legal compliance, records, official communication.
- Marketing Director - sales, marketing, membership recruitment, publicity, promotion, public relations, sponsorship.
- Operations Director - all events and programmes except for educational, execution of promotional programmes such as business rescue legislation, government projects, pro bono activities.
- Education and Knowledge Director - knowledge capture and knowledge management on web site, ACTP relations, educational alliances, educational events and programmes.
- Financial Director - treasury, financial management, membership benefits.
- Informatics Director - hardware infrastructure and software applications, Google Groups, forums, newsletter, web site design and maintenance, database management, and IT development and support.

The Executive Directors will be supported by an Administrator, who also does membership administration.

Each Executive Director will recruit Managers from TMA-SA members to manage sub-portfolios e.g. the Marketing Director may have managers for Public Relations and for Sponsorship.

Note the distinction between promotional activities of the Marketing and Operations Director - while marketing sells these, operations execute them.

Turnaround and TMA-SA discussion forums established

2006-07-19T02:43:00.000+02:00

TMA-SA members now have the opportunity to view their opinions and enter into debate in public and closed forums.

We hope that these forums will promote two-way communication between TMA-SA members and management.

There are four sets of discussion forums at Turnaround Industry South Africa Forums of interest to members:

General corporate renewal, turnaround and business rescue topics.
A discussion forum on TMA-SA open to the general public.
Closed discussion forums for registered TMA-SA members only. These deal with all the executive functions of TMA-SA and provides the opportunity for members comment on and ask questions about the strategy, management and operations of TMA-SA. There is also a forum where Exco asks members for opinions and advice.
Closed discussion forums for TMA-SA management only.

TMA-SA members - use these forums to say your say!

TMA-SA June lecture series invitation

2006-06-21T12:23:00.000+02:00

Date: 18h30 Wednesday 28 June 2006 preceded by social from 17h30 to 17h30.

Venue: Auditorium, Building 3, Deloitte Place, The Woodlands, Woodlands Drive, Woodmead, Sandton.

Snacks will be served and a cash bar will be available. Drinks in the pub, lecture in the Auditorium.

Map to venue: (52k)

Invitation: (28k)

Topic: "Emotional failure leads to business combustion - The role of logic and emotions in business failure"

Speaker: Karl Gribnitz.

Managing all forms of risk since the start of his business career, Karl has developed his skills and abilities that enable him to be a valuable arbitrageur, professional director and environmentalist. Karl is a value arbitrageur, who is willing to make decisions and take risks as a principal. Karl has acquired a specialised knowledge of all aspects on corporate law, JSE Securities Exchange and Securities Exchange Regulation Panel rules, accounting matters and corporate finance. At the age of 39, Karl has served on 13 different boards of companies listed on the JSE.

Date: Wednesday 28th June 2006

Cost: R50 for TMA-SA members, R100 for non-members.

Welcome: All TMA members, prospective TMA members and the general public.

Please RSVP by Monday 26th June 2006 to tmasouthernafrica at gmail dot com (replace "at" and "dot" with "@" and ".").

TMA-SA members can now update their member profiles electronically

2006-06-19T09:41:00.000+02:00

The TMA-SA web site now provides member profiles to promote the services of its members and the firms they represent.

To update their profiles, members can take the following steps:

Step 1: Have a look at your present member profile. To do so, go to member directory and click on your name.

Step 2: Complete and submit the electronic member profile update form. You can cut-and-paste from your existing profile into the form to speed things up.

Note 1: Unfortunately, one cannot send attachments with the form. To do this, send additional material like pictures and logos to and we will add it to your profile.

Note 2: Yes, some members have previously supplied member profile information on past membership application forms. But you are requested to do so on the electronic member profile update form.

TMA-SA events now on a Google Calendar

2006-06-18T07:55:00.000+02:00

The TMA-SA events page now shows all its events on a Google Calendar.

You can view the TMA-SA calendar in its own page for a larger view.

To add the TMA-SA calendar to your own Google calendar, click on the logo below.

New constitutional and organisational arrangements on the cards

2006-06-01T05:59:00.000+02:00

The license agreement between Turnaround Management Association - Southern Africa and TMA international, replacing the Chapter arrangement, necessitates a rewrite of the Articles of Association and By-laws.

This affords us the opportunity to make other necessary changes to better fit our strategic and operational needs, including a new format Board of Directors and office-bearing functions.

But first of all, the planned AGM in June 2006, and the associated election of new directors and office bearers for 2007, had to be postponed as a result.

The Board has accepted a proposal for a streamlined new organisational structure in which the functions will be redefined and the number of executive directors will be reduced.

The number of non-executive directors will be increased to make up the numbers. TMA-SA requires time to identify and recruit a number of prominent and influential BEE business leaders to fill these non-executive positions to ensure credibility with and support from government structures.

The revised Articles of Association, By-laws and organisational structure are being prepared and will be submitted to members for approval at a general meeting of members called around September 2006.

Once approved, an election will be arranged to elect new Board members and office bearers for 2007.

Should any member have questions in this regard in the interim, feel free to call me at 082 853 1414.

Licence agreement with TMA International signed

2006-05-24T05:33:00.000+02:00

See TMA licence agreement for more detail about the licence agreement, and to download a copy of the agreement.

Workshop: debt restructuring

2006-05-11T03:07:00.000+02:00

Date: 31st August – 1st September, 2006

Venue: Irene Country Lodge, Irene.

Topic: Debt restructuring.

A pc-based event that will be using case studies (real South African & International examples) as the core of the course. It will be covering the entire restructuring process from problem identification through to designing, developing and selling the restructuring proposal.

Speaker: Julian Roche.

Cost: R8 495 per delegate.

Invitation: (549k)

Benefits of attending the course:

Know how to spot companies in distress or heading into distress.
Understand why company restructurings are necessary.
Appreciate the role of debt and equity instruments in corporate restructuring.
Learn how to evaluate shareholder value in failing and debt-ridden companies.
Gain knowledge of how banks approach corporate restructuring.
Learn how to design turnaround strategies.

TMA: May social event

2006-05-10T03:04:00.000+02:00

There will be no separate Turnaround Management Association - Southern Africa social event in May due to the turnaround conference at Wits Business School (see posting of 29 April 2005). However, the TMA lecture series (see posting of 29 April 2005), which is also held at WBS, will include the opportunity for attendees to socialise and network in the Executive Dining Room from 17h30 - 18h30.

Date: Wednesday 17 May 2006 from 17h30 - 18h30.

Venue: Executive Dining Room, Wits Business School, 2 St David’s Place, Parktown.

Welcome: All TMA lecture series attendees.

TMA: own web site domain

2006-05-06T02:59:00.000+02:00

Turnaround Management Association - Southern Africa now has its own web site domain at www.tma-sa.com.

Whilst members can still access the new domain via the Turnaround Solutions web site, members are advised to update their favourites to point directly to www.tma-sa.com for easier access.

TMA: May lecture series

2006-05-02T02:56:00.000+02:00

Date: Wednesday 17 May 2006.

Time: Drinks will be in the Executive Dining Room from 17h30 and the lecture will start at 18h30.

Venue: Please note that the venue for the TMA lecture on 17th May has changed to Wits Business School, 2 St David’s Place, Parktown.

Topic: Four Models for Rescue: Convergence or Divergence in European Insolvency Laws

Description: A look at the main developments in insolvency law reform in relation to four European Union member states viewed in the context of reforms occurring across Europe. This paper will seek to identify and outline areas of common interest that underpin recent reform in the four jurisdictions chosen with view to determining whether there is a common direction to these reforms, whereas there had previously been strong resistance to harmonisation of legislation.

Speaker: Paul Omar D.Phil, LLM, LLB, Cert. Eg., Barrister (Gray’s Inn), Advocate and Solicitor (Malaya)

Invitatation: (115k)

Cost: R50 per TMA member, R100 for non-members.

Welcome: All TMA members, prospective TMA members and the general public.

Please RSVP by Monday 15th May 2006 to .

Conference: Managing business transformation

2006-04-30T02:40:00.000+02:00

A 2-day conference on managing business transformation will be held 17 - 18 May at the Balalaika Protea Hotel in Sandton.

Follow this link to download the managing business transformation conference programme.

Issues such as low business transformation activity in the private sector; low consulting rates paid by the public sector; BEE transformation labeled as business transformation; difficulties with achieving effective business transformation in the public sector; corporate governance, are to be confronted at Managing Business Transformation conference.

This two-day conference (17-18 May 2006, Balalaika Protea Hotel, Sandton) is designed to address a variety of current topics and encourage direct interaction and case studies from organisations that have gone through transformation and those going through the process. This intensive conference will provide highly practical and relevant information on the latest developments in Business Transformation from practitioners, government, trade unions and consultants.

"Business Transformation focuses the attention on an integrated company-wide roadmap for an improved future. In doing so, it ensures alignment and internal consistency by reshaping the strategy, organisation and operations of businesses as a whole," noted Jan van der Walt, Corporate Renewal Solutions CEO.

But Business Transformation does not only provide the answers to what to change in response to market-place events. More importantly, it also provides the answers on how to manage such change through its focus on transformational change management to align and commit leadership, to involve and mobilise employees, and to obtain stakeholder support.

Business Transformation should be both an essential and a continuous management competency of any enterprise. It is about implementing the enterprise's business strategy and moving closer to its vision.

Change Agents are responsible for a variety of strategic and transformation duties necessary to run an organization efficiently. They serve as information and communication managers for an organisation; gather competition intelligence and respond to environmental changes.

"A comprehensive change management programme is required so that employees (including all levels of management) can understand the business case for the transformation and can therefore buy-in into it," responds Nomzamo Ntuli, Rand Water's Corporate Planner.

Contact: Goodman Chauke on Tel: 011 784 0888

Conference: Managing a turnaround

2006-04-29T02:50:00.000+02:00

A 5-day conference on turnaround management will be held 15 - 19 May at Wits Business School.

Follow this link to download the Turnaround management course brochure and application form.

Turnaround strategies and techniques are essential for any organisation in distress or any business. A solid business plan can assist an entrepreneur in making a success of a company even after several failures or an organisation that is struggling.

“Businesses and entrepreneurs should not see bankruptcy or liquidation as the end of the road; rather they should be motivated to persevere by implementing an effective turnaround strategy in order for the business to survive,” says one of the programme leaders, Frans van Heerden: Wits Business School.

The “Managing a Turnaround” programme is designed to provide participants with an analytical framework, help develop a mindset to appreciate and tackle turnarounds and share experiences with turnaround leaders such as the CEO of Barloworld, Tony Phillips, who will be presenting his case study at the course.

The programme provides insight into the various stages and processes of turnaround management such as the definition, stages of a turnaround, rapid appraisal and detailed analysis, recovery plan development and implementations. The financial, legal, operations, marketing, politics and human considerations are evaluated in depth.

CEO’s and managers who are likely to be confronted with turnaround situations or are involved in mentoring individuals on turnaround techniques are encouraged to participate in this programme.

The key learning outcomes of the programme include:

Differentiating how turnaround differs from “normal agreement”.
Provide students with a detailed analysis and recovery development plan.
Present case studies from the private sector, parastatals and government providing participants with a broader understanding of how turnaround strategies could be implemented in various sectors.

For more information on the course please contact programme manager: Debbie Sachs on tel: (011) 717-3637, e-mail: sachs.d@wbs.ac.za. Alternatively contact Frans van den Heeden on cell: 082-557-5130 or e-mail: fmvh@mweb.co.za.

This news flash was brought to by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

TMA: feature in TMA International Newsletter

2006-04-28T02:35:00.000+02:00

This edition of the TMA International Newsletter contains a feature on Turnaround Management Association - Southern Africa.

TMA: Professor Burdette to visit ACTP in the USA

2006-03-09T02:33:00.000+02:00

Professor David Burdette, Director: ACTP Relations & Education, of the Turnaround Management Association - Southern Africa will meet with ACTP during his visit to the USA in May 2006 to further the establishment of a local turnaround professional certification programme in South Africa.

TMA administrator appointed

2006-02-08T02:30:00.000+02:00

Please join us in welcoming Lynne Curlewis as our Administrator of Turnaround Management Association - Southern Africa. She will be the contact person for the outside world and members' first port of call for administrative matters.

TMA: new membership application forms

2006-01-05T02:25:00.000+02:00

New members of the Turnaround Management Association - Southern Africa can register by downloading the Membership Application form completing it, and emailing it back.

TMA: new licensing dispensation

2005-12-23T02:04:00.000+02:00

Starting 2006, Turnaround Management Association - Southern Africa will become an international affiliate of TMA International rather than a chapter.

Instead of repatriating members’ full annual fees to TMA International, the new dispensation allows the organisation to retain a substantial portion of membership fees to cover necessary expenses for value-adding services and products such as a secretariat, newsletter, events, education, promoting members’ services, etc.

However, the organisation will now have to administer new member registration, annual renewals and members’ fee collection itself. We are working hard to have such a system in place before year-end.

For more information, see Turnaround Management Association license agreement.

TMA: member profiles

2005-11-11T02:01:00.000+02:00

Each member of the Turnaround Management Association - Southern Africa is offered his/her own page on the TMA-SA web site aimed at promoting the services of the member and his/her firm.

Existing members should download the Member Profile form, complete it, and email it back.

Information required forms part of the Membership Application form for new members.

Own profiles will be posted after February or so once we see what the membership renewal stabilises on.

Photo: TMA annual conference October 2005

2005-10-22T01:55:00.000+02:00

Click on the picture below to enlarge the image.

Neil Harvey of Rhodes University (third from right) represented the Turnaround Management Association - Southern Africa at the TMA annual convention in Chicago during 18 - 21 October 2005.

During this period the Board of Directors of TMA International conferred Provisional Chapter status on the Southern Africa.

With Neil in the photograph are Linda Delgadillo (TMA Executive Director), Ward Mooney (TMA Chairman), John Rizzardi (TMA Past Chairman), Bill Skelly (TMA Vice President of International Relations), Neil Harvey, Holly Etlin (TMA President), Dale West (TMA Director, Chapter Relations)

Thank you Neil!

Photos: TMA annual meeting of members

2005-10-06T01:52:00.000+02:00

The annual general meeting of the Turnaround Management Association - Southern Africa at which the 2006/07 Board of directors and Executive were elected was well attended. Thank you Werksmans for providing the facility.

Click on a picture below to enlarge the image.


Starting to arrive...	Taking a break after the voting.

Newly elected board members	Milton Kahari (Turnaround Partners), Ntombi Langa-Royds (Nthake Consultants), Carl Kwhinane (Turnaround Partners)

Johan Evans (Deloitte), Paul Winer (Werksmans), David Harding (Corporate Renewal Solutions)	Mike Murray (Value Chain Projects), Dale Pudney (Venture Concepts), Colin Batchelor (Phetiso Enterprise Development)

Jan van der Walt (Corporate Renewal Solutions), David Gewer (Werksmans)	Rohan Gordon (CMS), Paul Winer (Werksmans)

John Evans (Deloitte), Robin Taggart

Photos: 2006 TMA board and executives announced

2005-09-02T01:48:00.000+02:00

The new board of the Turnaround Management Association - Southern Africa was elected at the general meeting of members on 22 September 2005.

Present: Frans Maritz, Dale Pudney, Jan van der Walt, John Evans, Ntombi Langa-Royds, Robin Taggart, David Gewer, David Harding, Karl Gribnitz, Carl Khwinane, Colin Batchelor.

Absent: Garrath Rosslee, Philip Reynolds, David Burdette, Patrick von Spreckelsen.

Clicking on the photo of an executive director below will take you to the director's charter, which describe its function, balanced scorecard, issues, etc.

Non-Executive Chair	CEO	Deputy CEO

Robin Taggart	Ntombi Langa-Royds (Corprenewal / Nthake Consulting)	Jan van der Walt (Corprenewal)
Treasurer	Secretary	Director: Programmes

Karl Gribnitz (Gandalf Trust)	Philip Reynolds (Deloitte)	Dale Pudney (Corprenewal / Venture Concepts)
Director: Membership	Director: ACTP Relations	Director: Public Relations

Colin Batchelor (Phetiso Enterprise Development)	Prof. David Burdette (University of Pretoria)	Carl Kwhinana (Turnaround Partners)
Director: Sponsorship	Director: Pro Bono Activities	Director: Newsletter

Garrath Rosslee (Corprenewal / One World Consulting)	David Harding (Corprenewal)	Frans Maritz (Corprenewal)
Director: Web site	Director	Director

Patrick von Spreckelsen (Corprenewal)	David Gewer (Werksmans)	John Evans (Deloitte)

TMA: new chapter dispensation?

2005-08-11T01:45:00.000+02:00

Members of the Turnaround Management Association - Southern Africa will remember the long time it took to process and the model TMA by-laws before registering the Southern Africa Chapter. And the unhappiness with the full amount of the annual dues going to TMA International.

The good news is that a new "organisational and pricing structure" is being worked out by the TMA's Executive Committee, for approval at TMA International's Board meeting in October 2005.

The TMA International 3rd quarter newsletter "Vigorous international activity prompts chapter restructuring" already mentioned a licensing agreement replacing the current chapter setup.

Will we see a more flexible setup with a portion of the present dues remaining in Southern Africa for local application? Watch this space.

Photos: Wits Business School conference "Managing a Turnaround"

2005-08-11T01:42:00.000+02:00

A number of members of the Turnaround Management Association - Southern Africa presented papers and participated in a panel discussion at the annual turnaround management conference at WBS.

Click on a picture below to enlarge the image.


Panel group discussion - "Why Turnarounds Fail" - John Evans (Deloitte), Jan van der Walt (Corprenewal), Trevor Volek (Hayes Lemmerz), Ntombi Langa-Royds (Nthake Consultants)	Jan van der Walt (Corprenewal) talking about "Contrasting informal turnarounds with turnarounds during formal insolvency"

Themba September (Corprenewal) talking about "Developments in the SA turnaround industry".	Professor David Burdette presenting the Certified Turnaround Practitioner programme.

Photos: TMA pub night

2005-08-03T01:16:00.000+02:00

Members of the Turnaround Management Association - Southern Africa used the opportunity to meet each other and network at the pub night held on 2 August 2005 at Johannesburg Country Club.

Click on a picture below to enlarge the image.


Professor Neil Harvey (Rhodes University), Rohan Gordon (CMS), Themba September and Jan van der Walt (Corporate Renewal Solutions), Colin Batchelor (Phetiso Enterprise Development)	Colin Batchelor (Phetiso Enterprise Development), Jean du Plessis (IDC)

Philip Reynolds (Deloitte), Robin Taggart	Trevor van Zyl (Denel Aviation), Sonja Kuelder (IDC), Jan van der Walt (Corporate Renewal Solutions)

TMA 2006 election procedure

2005-07-14T01:14:00.000+02:00

Election procedure

The initial Board of Directors of the Turnaround Management Association - Southern Africa will stand down at the first annual meeting of members held at 18h00 on Thursday 22 September 2005 at Werksmans, c/o Fredman Drive & 5th Avenue, Sandton.

At the first annual meeting of members, registered members will elect the 2005/06 Board of Directors from a slate of nominees (see Election 05/06 nominations for the nomination slate).

The election will be on a round-robin basis in the following sequence:

1. Elect non-executive Chairman (1-year term)

2. Thereafter, from nominees not already elected, elect the members of the Executive Committee:

Elect CEO (2-year term - by default the non-Executive Chairman-elect for the next term). The runner-up will be Deputy-CEO (3-year term - by default the CEO-elect for the next term, and the non-Executive Chairman-elect for the term thereafter).
Elect Treasurer (3-year term). Elect Secretary (3-year term).
Elect Director: Membership (3-year term).
Elect Director: Programmes (2-year term).
Elect Director: ACTP Relations and Education (3-year term)

3. Thereafter, from nominees not already elected, elect the other 2-year term Executive Directors:

Elect Director: Public Relations (2-year term).
Elect Director: Sponsorship (2-year term).
Elect Director: Pro bono activities (2-year term).

4. Thereafter, from nominees not already elected, elect the other 1-year term Executive Directors:

Elect Director: Newsletter (1-year term).
Elect Director: Web site (1-year term).

5. Thereafter, from nominees not already elected, elect the two non-Executive Directors (1-year term).

Proxy votes

Should you not be able to attend the general meeting of members, you may select another member, that will be present, to vote on your behalf.
Do so by sending the member you select an email to the effect that you grant him/her your proxy.
The member you select must submit the email at the annual meeting of members prior to the elections beginning to enable him/her to exercise your proxy vote.
Members may not vote for themselves, but the proxy votes they exercise may be for themselves.

TMA 2006 election: nominations invited

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Positions for which nominations are sought

The election of the 2005/06 board and executives of the Turnaround Management Association - Southern Africa will take place at 18h00 on Thursday 22 September 2005 at the annual meeting of members at Werksmans, c/o Fredman Drive & 5th Avenue, Sandton.

The initial Board of Directors are awaiting nominations (see Election 05/06 nominations) from registered members for 2005/06 directors for the following 15 positions:

Non-executive Chairman - a senior individual with strong leadership capabilities to to preside over board affairs, safeguard the Chapter's assets, ensure fiduciary compliance, and ensure that the Chapter has purpose and direction.
CEO (and non-executive Chairman-elect for the next term) - an individual with strong leadership and organisational capabilities that as the principal executive officer of the Chapter, and subject to the control and direction of the Board, will be tasked to lead the chapter, see to it that the resolutions and directions of the Board are carried into effect, submit strategy to the board for approval, to execute strategy, and to attend the annual meetings of TMA International.
Deputy-CEO (and CEO for the next term) who will be the runner-up at the CEO election.
Treasurer - ideally an individual with an accounting background responsible for bookkeeping and financial management.
Secretary - ideally an individual with a legal background responsible for administration, record-keeping and communication.
Director: Programmes - ideally an individual with strong project management, organisational and delivery backgrounds responsible for all programmes of the Chapter including projects, events and functions.
Director: Membership - ideally an individual with strong administrative and marketing skills responsible for all member services and administration, and the solicitation of new members.
Director: Public Relations - ideally an individual with strong interpersonal and marketing skills to promote Chapter visibility and the turnaround profession.
Director: Newsletter - ideally an individual with a journalistic flair responsible for editing, content, format and distribution of a regular newsletter distributed to all members.
Director: Pro Bono Activities - ideally an individual with an interest in the community and responsible for identifying disadvantaged or small troubled businesses that will benefit from engagement by members, and for identifying and recruiting members to undertake such activities.
Director: Web Site - ideally an individual with a webmaster background, or at least an understanding of web site design and administration responsible for establishing a Chapter web site and administering it as a medium for news, events and member information.
Director: Sponsorship - ideally an individual with strong marketing skills responsible to obtain funding for the Chapter's administration and activities, to identify sponsorship activities, and to solicit sponsors to undertake such activities.
Director: ACTP Relations and Education - ideally an individual with an academic or educational background to drive the Certified Turnaround Professional program in South Africa.
2x Non-executive Directors (other than the Non-Executive Chairman) - ideally individuals with high standing and influence in South African industry or politics with strong affinity to the TMA's cause.

Nomination guidelines

Nominees are ideally to represent a spread of turnaround professional disciplines (turnaround practitioners, consultants, legal, accounting, etc.) and providers of equity/loan capital (banks, development fund institutions, etc.).
Members are urged to place special emphasis on nominating black and female nominees. Members may not nominate themselves.
A nominee may receive nominations from more than one member.
A nominee can be nominated for any number of the 15 board positions.

The prescribed nomination form, which can be downloaded from the box on the right, includes:

The position(s) for which the nominee is nominated.
A brief biography of the nominee by the nominee that includes the person's relevant turnaround-related experience and interest/experience in other or prior association activities.
A recommendation from a member other than the nominated member that details why the individual would be a successful candidate for the Board of Directors with specific reference to the up to 15 board positions that the individual is nominated for.
A statement from the nominee that the individual:
- Makes him/herself available for the specific function(s) that he or she is nominated for.
- Makes him/herself available for the specific term that he or she is nominated for. Has the sincere desire to participate and be actively involved.
- Is willing to dedicate the necessary time and effort.

TMA office bearers elected

2005-05-06T00:51:00.000+02:00

Office-bearers elected at Board meeting 6 May 2005:

Robin Taggart (non-Executive Chairman)
Jan van der Walt (Chief Executive Officer)
Ken Chitando (Treasurer)
Patrick von Spreckelsen (Secretary)
Colin Batchelor (Director: Membership)
Milton Kahari (Director: Programmes)

Good luck with your efforts in steering the Turnaround Management Association - Southern Africa!

TMA initial board of directors

2005-05-02T00:34:00.000+02:00

The initial board of directors of the Turnaround Management Association - Southern Africa has been elected.

The 9-person board, in order of votes received at the election of 29 April 2005, comprises of:

Jan van der Walt (Corprenewal)
Milton Kahari (Turnaround Partners)
Robin Taggart
David Gewer (Werksmans)
Colin Batchelor (Phetiso Enterprise Development)
Ken Chitando (Turnaround Partners)
Patrick von Spreckelsen (Corprenewal)
Frans Maritz (Corprenewal)
Vincent Marino (Business Renewal & Survival Strategies)

The purpose of the initial Board of Directors is to work towards achieving Provisional Chapter status, including the election of the 2005/06 Board of Directors and executives, increased membership, achieving publicity for the chapter, and to prepare a pro forma business plan and budget for consideration by the 2005/06 Board of Directors that includes required information to be submitted to TMA.

How to register as a member of the TMA

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To become a member of the Turnaround Management Association - Southern Africa, please download the membership application form, complete it and email/fax it to the address indicated.

Prospective members are requested to contact Lynn Curlewis (Administrator) at 011 964 2895 or fax. 011 748 2809 or email tmasouthernafrica@gmail.com for help with queries.

TMA membership categories

2005-04-22T00:17:00.000+02:00

Membership of the Turnaround Management Association - Southern Africa is on an individual, non-transferable basis i.e. not in a firm's name.

Membership is open to all interested in corporate renewal and turnaround, (not to turnaround practitioners only) as summarised by the membership categories below).

Regular members:

Turnaround professionals - individuals professionally practicing and specialising as turnaround managers or consultants to 1) distressed and underperforming businesses, and to 2) providers of debt and equity capital to distressed and underperforming businesses.
Other service providers - lawyers, accountants, management consultants, financial advisory services, appraisers, auctioneers, liquidators, etc. to 1) distressed and underperforming businesses, and to 2) providers of debt and equity capital to distressed and underperforming businesses.
Providers of debt and equity capital - banks, institutional investors, private equity investors, development funds, etc. providing new capital to, or wishing to safeguard their current investment in/lending to distressed and underperforming businesses.

Government:

Individuals who are in the employ of a governmental agency or who are members of a legislative body or who are judges.

Academic:

Individuals who are engaged in the academic profession and who participate or contribute to the turnaround management business through their teaching, writing, research or other professional activities.

Students:

Individuals who are attending a college or university full time, and who are interested in pursuing studies related to the turnaround management business. Students may not vote or hold elective office.

Photo: TMA first meeting of members

2005-03-18T18:33:00.000+02:00

The Turnaround Management Association - Southern Africa is out of the starting blocks! The association serves as a forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

It's first meeting was attended by 15 members and prospective members in the photograph below.

Click on the picture for an enlarged image.

Front row: Jan van der Walt (Corprenewal), Lindo Sibisi (CMS), Rowan Gordon (CMS), Dale Pudney (Turnaround Partners), Milton Kahari (Turnaround Partners), Colin Batchelor (Phetiso Enterprise Development).

Back row: Robin Taggart, Johan van Wijk (GPNet), Keaobaka Mahuma (Grandstone), Basil Nel (Basjen Management Consultants), Frans Maritz (Corprenewal), John Chitsa (Turnaround Partners), Carl Khwinana (Turnaround Partners, David Harding (Corprenewal).

Inset (photographer): Patrick von Spreckelsen (Corprenewal).

Turnaround Management Association - Southern Africa Blog

TMA-SA lecture series: Turnarounds, Restructuring and Business Support at the IDC

TMA-SA looking for an Executive Manager

Future strategic direction of TMA-SA

TMA-SA Lecture series: When private equity funding might be available in a turnaround situation, and on what terms and conditions 7 June 2007

Corporate turnaround and rescue strategies workshop 28 - 29 May 2007

Programme: Managing a turnaround

TMA-SA May lectures series: Business rescue legislation panel discussion

AIPSA conference on Companies Bill, 2007

TMA-SA March 2007 newsletter

TMA-SA Board of Directors for 2007

2007 AGM and Special meeting

TMA-SA's submission to dti on draft business rescue legislation

Past conferences

TMA-SA March 2007 lecture series invitation

More on the March INSOL Cape Town conference registration cost

FOR INSOL MEMBERS

FOR NON-INSOL TMA-SA MEMBERS

Notes:

Cape Town: INSOL conference 18 - 20 March 2006 plus Turnaround & Reorganisation Ancillary Meeting 17 March 2006

Turnaround and reorganisation ancillary meeting

Main conference programme

HOW TO BE SHARP ABOUT THE CONFERENCE FEES - 1

HOW TO BE SHARP ABOUT THE CONFERENCE FEES - 2

HOW TO REGISTER AND ARRANGE ACCOMMODATION

TMA-SA: Driven forward by its members

We achieved recognition from government

Our networking and educational events are growing in popularity

We are improving our ability to deliver on our member’s needs

We will continue to leverage the international knowledge base to position ourselves at the forefront of changes in the industry

But we can’t do this without your support

TMA-SA newsletter - November 2006

Reaching out to government

Reaching out - lenders and investors, and service providers functions

Quarterly newsletter

Date of next general meeting of members and election

Amended Articles of Association and By-Laws

TMA-SA November lecture series invitation

TMA-SA October lecture series invitation

TMA-SA September webinar invitation

TMA-SA newsletter - August 2006

Monthly newsletters

Quarterly newsletter

Turnaround forums

Reaching out - lenders and investors function

Reaching out - service provider function

Reaching out to government

Journal of Corporate Renewal to be distributed to TMA-SA members

TMA-SA brochures

Date of next general meeting of members and election

Amended Articles of Association and By-Laws

New member registration procedure

Proposed new board composition and organisational structure

TMA-SA August lecture series invitation

Proposed new TMA-SA board composition and organisational structure

Turnaround and TMA-SA discussion forums established

TMA-SA June lecture series invitation

TMA-SA members can now update their member profiles electronically

TMA-SA events now on a Google Calendar

New constitutional and organisational arrangements on the cards

Licence agreement with TMA International signed

Workshop: debt restructuring

TMA: May social event

TMA: own web site domain

TMA: May lecture series

Conference: Managing business transformation

Conference: Managing a turnaround

TMA: feature in TMA International Newsletter

TMA: Professor Burdette to visit ACTP in the USA

TMA administrator appointed

TMA: new membership application forms

TMA: new licensing dispensation

TMA: member profiles

Photo: TMA annual conference October 2005

Thank you Neil!

Photos: TMA annual meeting of members

Photos: 2006 TMA board and executives announced

Non-Executive Chair

CEO

Deputy CEO