1. Turnaround Management Association, Southern Africa Chapter

2. TMA Origin Mission Board & Executive Certified Turnaround Professional
Membership
Status

3. ORIGIN
TMA is an outcome of the Task Group for Organising the Turnaround and Business Rescue Industries
Work Group of the Industry Task Group
(Supported by 80 Advisory Group members):
Seated: Stephan Claassen (FNB), Lawrence Ngobeni (University of Pretoria - alternate for Professor David Burdette) (Secretary), Themba September (Corporate Renewal Partners) (Chairman), Mervyn King (Brait), Ricardo Graham (Maximus Turnarounds).
Standing: Inus du Preez (FNB), Sarel Lategan (Standard Bank - alternate for Christo Faul), John Evans (Deloitte), Robin Taggart (Nedbank), Patrick Daly (Daly Incorporated), Kevin Cochrane (Nedbank - alternative for Anna Isaac), Krisjan Barnard (Absa - alternative for Trevor Murgatroyd), Jan van der Walt (Corporate Renewal Partners), Les Matusen (Credit Management Solutions - alternate for Rowan Gordon), Jan Bicker-Caarten (RMB), Martin Leigh (RMB), David Gewer (Werksmans).
Absent: Paul Winer (Werksmans), Michael Vacey-Lyle (FNB).
Grass-roots involvement from 100 participants from all constituencies in the turnaround and business rescue industries in South Africa

4. ORIGIN
The Task Group assessed organised industry in terms of the model describing the timeline of financial distress
The 4 stages in the timeline of financial distress:
Informal Processes
Insolvency Processes
Management-led correction
Informal creditor workout
Business rescue
Liquidation
Emerging problems
Acute and worsening problems
Insolvency but possible viability
Insolvency and unlikely viability
Turnaround in the absence of creditor and legal issues
Informal agreement between management and creditors (banks) to reduce indebtedness
Present: judicial management and Section 311 Compromise of Creditors
Future: new business rescue legislation
Realisation of the distressed company's assets and the distribution of proceeds to its creditors
Management retains the initiative and controls the turnaround agenda
Terms of workout agreement dictates agenda
Banks hold the power
Court-driven – inflexible and expensive
Historically a low success rate
But new business rescue legislation should deliver a higher success rate in stage 3

5. The Task Group defined specific roles for ABASA and TMA
ORIGIN
The Task Group defined specific roles for ABASA and TMA
The timeline of financial distress:

6. TMA Origin Mission Board & Executive Certified Turnaround Professional
Membership
Status

7. MISSION
The TMA is a voluntarily trade association for service and capital providers to the turnaround industry
Mission - to:
Serve as a forum for convening turnaround professionals from all disciplines:
to exchange information, ideas and knowledge on the turnaround business
Promote high standards of practice and improved methodologies in turnaround management
Foster professional development opportunities for turnaround professionals
Serve as a clearinghouse of information and research pertinent to the turnaround business
The TMA is a voluntarily association to promote the turnaround industry, and for purposes of information exchange, networking, education and raising the standards of turnaround in both the informal sector and formal business rescue

8. TMA, SA Chapter is a SA initiative with full independence
MISSION
The Industry Task Group decided on affiliation to the pre-eminent turnaround organisation – the Turnaround Management Association
Rather than reinvent the wheel, affiliation allows for:
Working within proven and well-defined structures
Sharing in the knowledge and experience of the international turnaround fraternity
Membership growth:
TMA, SA Chapter is a 100% SA initiative:
The local chapter is owned and controlled by SA turnaround industry participants
It's board of directors and office bearers are totally independent of the international organisation it is affiliated to
TMA International is directive only with regard to:
Good governance principles
Ensuring that chapters do embark on programs (of the chapter's own choice) that are beneficial to the turnaround industries in local jurisdictions.
TMA, SA Chapter is a SA initiative with full independence

9. TMA Origin Mission Board & Executive Certified Turnaround Professional
Membership
Status

10. The initial Board and Executive was elected on 29th April 2005
TMA initial Board and Executive
Robin Taggart
(Non-Executive Chairman)
Jan van der Walt
(CEO)
Ken Chitando
(Treasurer)
Patrick von Spreckelsen
(Secretary)
Milton Kahari
(Director: Programs)
Colin Batchelor
(Director: Membership)
Frans Maritz
Vincent Marino
David Gewer

11. The 2005/06 Board and Executive will be elected on 23rd June 2005
Non-executive Chairman
CEO
Deputy-CEO
Treasurer
Secretary
Director: Membership
Director: Programs
Director: Public Relations
Director: Sponsorship
Director: ACTP Relations & Education
Director: Pro Bono Activities
Director: Newsletter
Director: Web site
2x Non-executive Directors

12. TMA Origin Mission Board & Executive Certified Turnaround Professional
Membership
Status

13. CERTIFIED TURNAROUND PROFESSIONAL
The Association of Certified Turnaround Professionals is sponsored by the TMA
The ACTP offers the sole international programme of certification for professionals engaged in the turnaround, crisis management, restructuring and renewal of troubled businesses
To become a Certified Turnaround Professional (CTP), practitioners must meet stringent standards of education, experience and professional conduct:
Completing at least five years in consulting with a minimum of three years focused on corporate renewal
Providing three client case studies and names of individuals who can verify authenticity
Submitting to a careful background check conducted by the ACTP Standards Committee
Passing a challenging examination which covers ACTP´s three-pronged, comprehensive Body of Knowledge:  relevant theory and practice regarding financial and managerial accounting and tax, turnaround and crisis management, and insolvency law.
Posting names of applicants for 60 days in order to solicit any objections.
TMA, SA Chapter will implement a customised SA certification programme under the auspices of the ACTP

14. TMA Origin Mission Board & Executive Certified Turnaround Professional
Membership
Status

15. MEMBERSHIP
We aim to reflect the international membership profile in Southern Africa
International TMA membership profile
Investors (10%)
Capital providers
Turnaround practitioners and consultants (34%)
Lenders (12%)
Credit (5%)
Academic/student government/judicial (5%)
Insolvency practitioners (6%)
Financial advisors (13%)
Accountants (8%)
Lawyers (10%)
Service providers: 72%
Capital providers: 22%
Academic/Government: 5%
The TMA is certainly not an organisation for turnaround practitioners only

16. MEMBERSHIP
Membership is open to all interested in corporate renewal and turnaround
Regular members *): $275/annum
Government: $115/annum
Academic: $115/annum
Students: $ 65/annum
*) Regular members are turnaround professionals from all disciplines except for government, academic and students
Members receive:
Monthly copies of the Journal of Corporate Renewal
Discounts on local and international events
TMA members regard the biggest benefit of membership to be that of networking opportunities, followed by advancement of professional knowledge

17. TMA Origin Mission Board & Executive Certified Turnaround Professional
Membership
Status

18. STATUS
TMA, SA Chapter is in the process of achieving Provisional Chapter Status
Status:
Current status: Chapter-in-formation
2005/06 Board and Executive election: 23 June 2005
Aiming for Provisional Chapter status by July 2005
Aiming for full chapter status: July 2006
Programs planned post July 2005:
Establishing the Certified Turnaround Professional programme
Support for new business rescue legislation
Conferences
Breakfast seminars
Pro bono activities
Golf days
Web site and newsletter

19. Questions? Jan van der Walt Colin Batchelor CEO: TMA, SA Chapter
Cell:
Landline:
Colin Batchelor
Director: Membership
Cell:
Landline:
For more information on TMA, SA Chapter:
For more information on TMA International: