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Hungary the new sweet spot for CEE NPL transactions, Romania overcrowded, Serbia ready to pick up - TMA Europe Eastern Europe Conference Coverage
by Antonio Vanuzzo, Reporter, Debtwire
Hungary is considered the next sweet spot for CEE NPL transactions, whereas Romania has become overcrowded like Spain in the past few years, according to several buysiders, advisers and operational turnaround professionals gathered at the TMA Europe - Eastern Europe conference held in Prague on Wednesday (16 March).
In addition to Hungary, investors polled by Debtwire expect the Balkans Region to gain traction in 2016.
"Serbia is looking quite interesting at the moment, Slovenia and Croatia offer plenty of opportunities too," one buysider pointed out. "Romanian portfolios are mature and the prices are going up as bigger funds are entering the market." Read more...
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TMA Europe annual summer conference will focus on tactics and techniques for dealing with distressed businesses
Tactics and techniques for dealing with distressed businesses will be debated at TMA Europe's annual summer conference.
This year's event, now in its ninth year, is being held in Rome on 9 and 10 June, and once again features a packed programme of speeches, panel discussions and presentations featuring some of the foremost experts in the fields of turnaround and restructuring.
One such panel debate will explore the importance of all involved in a turnaround - including the firm, the professionals and the creditors - following a joint plan of action.
The discussion, called Shared Strategies, is being chaired by Roger Olivieri, a Partner with Italian-based business consultancy Bignami Associati.
Mr Olivieri, a chartered accountant and auditor who specialises in mergers and acquisitions, business restructuring, voluntary and forced liquidations, and compositions with creditors, said: "During a turnaround the focus needs to be on preserving the value of company, and to saving jobs and retaining the skills and know-how within the firm. But in order for that to happen, there needs to be strong leadership and good communication with the multiple stakeholders, all following a shared strategy. It is also imperative that all those involved provide their own expert contribution towards the shared turnaround goal."
Debating these issues as panellists will be Alan Tilley, Founding Principal of UK-based Bryan, Mansell and Tilley; Christian Grininger, Partner of RLB OÖ AG of Austria; Roberto Chiodelli, Partner of Special Situations of Italy and Dr Maximilian Pluta, MD and Head of Restructuring at German-based Pluta.
There will be other panel debates on European NPL resolution efforts and on equity cram-down and EU harmonisation. The conference is also this year focusing on SMEs and the significant role they play in the European economy, with a panel session exploring the latest trends, techniques and tools for SME debt restructuring, and another looking at the role a founding entrepreneur plays in the turnaround of an SME. The conference is being held at the Grand Hotel Plaza in the heart of Rome.
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JCR Magazine Authors Wanted
The Journal of Corporate Renewal, the official publication of TMA, is seeking European thought leaders for articles that will appear in the printed and digital version of the magazine. If you or your firm is interested in submitting an article for publication, please reach out to editor-in-chief, Eddy McNeil at emcneil@turnaround.org. Article topics need not have North American angles.
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2016 London Roundtable write-up
by Margarita Michaels, Global Restructuring Review
Distressed debt investors, advisors and turnaround management professionals from across the globe met in January to discuss the benefits and pitfalls of the EU's Single Resolution Mechanism: one of the main pillars of Europe's post-financial crisis banking union, whose purpose is to ensure an orderly resolution of failing banks with minimal costs for taxpayers and the economy. Read more...
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2016 Turnaround of the Year Awards - Call for Entries
Entries have opened for TMA Europe's prestigious annual Turnaround of the Year Awards.
The awards, which are now in their fifth year, aim to celebrate the achievements of the individual or team of TMA turnaround professionals who have orchestrated the most successful recovery of a struggling company.
There are two categories, one for a small company whose revenue at the onset of the turnaround was less than 100 million Euros, and one for a large company whose revenue at the onset of the turnaround was more than 100 million Euros.
Submissions for the awards are assessed on the main actions taken to bring about around the turnaround, the issues that arose and how they were overcome, as well as the eventual outcome.
The winners of the awards will be announced at TMA Europe's pre conference banquet being held this year at the Grand Hotel Plaza in Rome, Italy, on 9 June 2016.
The deadline for entries is Friday, 29 April 2016.
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 EACTP directory helps member secure new work
The EACTP's online directory of certified turnaround professionals has helped one of its members to secure new work.
Maria Pombo, who has been a Member of EACTP since December 2014, has had two enquiries from people who found her details in the association's directory and has recently been engaged on a job to help a small family-run business in Kent.
The EACTP's directory - available at www.eactp.eu/directory - gives contact details and biographical information about each of its members. It is also easily searchable to enable people looking to employ a turnaround manager to search by skills or countries of expertise.
It was created to help promote its members but also to serve as a valuable directory for the buyers of turnaround management skills.
Maria, who is Director of Be Rescued (Business) Consulting Ltd, based in Norfolk, said: "It is great the directory is working to help our membership present and promote their skills and to secure work, and to assist businesses looking to hire the services of experienced turnaround professionals with the assurance that is backed by a leading professional body such EACTP."
The EACTP provides the only pan-European accreditation scheme for all turnaround professionals across the continent. It has a growing membership of professionals from across Europe.
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Lord Glasman, TMA Advisory board member involved in House of Lords debate
TMA UK members were treated to a top quality debate at the House of Lords on Wednesday evening (9th March). Lord Glasman, TMA Advisory board member and Labour Peer was invited to speak on the case for Brexit and, in his usual style, captivated an audience fed to date on political snippets and snipings from both sides of the debate. Instead, Maurice distilled it into the five key issues that business in the UK often raise with him. Read more...
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Submit TMA Europe Newsletter Articles
Submit articles for consideration for the next TMA Europe Newsletter to Mandy Caruana by Wednesday 13 April 2016. Suggested topics include TMA Europe events, activities, or announcements.
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TMA Europe Sponsors
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Apply for European CTP now!
Become accredited with CTP, the turnaround kitemark of quality. The EACTP certification programme is now open for applications.
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2016 TMA Europe Annual Conference Sponsors
Data Partner
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New TMA Publication:
"Investing in Distressed Debt in Europe: The TMA Handbook for Practitioners"
om/IDD/ and Globe Law and Business is ready to take pre-orders for the book. TMA members get a 20% discount and all pre-orders should be emailed to Sian@globelawandbusiness.com.
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Upcoming Events
TMA UK Wales & SW joint event with R3 and Institute for Turnaround, Bristol, UK
TMA UK NOW, London, UK
TMA UK East Midland, Birmingham, UK
TMA UK East Midlands, Nottingham, UK
TMA UK Wales & SW, Southampton, UK
TMA Europe Annual Conference, Rome, Italy
EACTP Networking event, London, UK
TMA Europe Distressed Investing Event, London, UK
TMA Global Annual Conference, Florida, USA
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TMA Europe Chapter Websites
Bulgaria (not yet available)
Slovenia (not yet available)
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TMA International Affiliates
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