Alongside a range of insolvency measures, the 2020 Corporate Insolvency and Governance Act ushered in some key turnaround tools. Due to Covid measures and economic conditions, it has taken some time for cases to work through. As the body for turnaround professionals we have observed these developments and are very interested in the turnaround potential of Restructuring Plans and the new Moratoria, and particularly when these tools can be effective in a turnaround scenario. Notably, the latest cases have involved smaller businesses, challenging perceptions regarding expense, complexity and timeliness related to the new tools. The following features suggest that the new measures should be of interest our members, in that they are:
· Company side measures
· Suitable for stressed but ultimately viable companies
· A potential solution for companies whose value would be severely impacted by insolvency (eg entities which are regulated or whose assets would be subject to a significant tax impact on a transaction)
· Reliant on core turnaround skills: formulation of a viable turnaround plan, quality management and financial information, stakeholder assurance
This session will provide essential insights into the tools for independent turnaround professionals, with case study information to show where the turnaround skillset applies, and where a restructuring plan or moratorium may be suitable for consideration as an effective turnaround tool. Following a tailored presentation, there will be time for questions and answers. There will be a follow up session in July to examine the latest cases, again with a turnaround lens.