Turnaround Management: Unlocking and Preserving Value in Distressed Businesses, Second Edition

The second edition of Turnaround Management covers important legislative changes since 2018 and their significant effect on turnaround practice, particularly EU Directive 2019/1023 and the UK's Corporate Insolvency and Governance Act 2020. It emphasizes the importance of stakeholder management and guides the reader through key issues such as cash control, operational change, business plan development, and team building. Author Alan Tilley is chairman of leading turnaround boutique BM&T European Restructuring Solutions and has led the introduction of online and exam-based training and certification of turnaround professionals.

Format: Hardback
Length: 239 pages
Publication date: 08 December 2023
Publisher: Globe Law and Business Ltd

This second edition of Turnaround Management, a highly regarded publication, delves into significant legislative changes since 2018 and their profound impact on turnaround practice, particularly EU Directive 2019/1023 and the UK's Corporate Insolvency and Governance Act 2020. It encompasses a wide range of topics, including:

The Evolution of Turnaround: This edition explores the historical development of turnaround strategies and the factors that have shaped their evolution. It examines how turnaround professionals have adapted to changing market conditions and emerging challenges.

The Influence of the United States Bankruptcy Codes Chapter 11 on European Turnaround: Chapter 11 of the US Bankruptcy Codes has had a significant influence on European turnaround practices. This chapter examines how European companies have adopted and adapted Chapter 11 strategies to address their financial difficulties.

The Influence of US Turnaround Practice on Driving Change from Default Insolvency to a Better Balance of Debtor and Creditor Interests: This edition highlights how US turnaround practices have contributed to driving change from default insolvency to a better balance of debtor and creditor interests. It explores how turnaround professionals have worked to unlock and preserve going-concern value in distressed businesses.

Stakeholder Management: Stakeholder management is emphasized as a critical aspect of turnaround management. It highlights the importance of engaging with various stakeholders, including employees, customers, suppliers, and financial institutions, to ensure a successful turnaround. The chapter discusses the strategies and tactics used to manage stakeholder relationships and achieve consensus during turnaround processes.

New Moratorium-Based Legislation and its Impact on Turnaround: The introduction of new moratorium-based legislation, such as the UK's Corporate Insolvency and Governance Act 2020, has brought about significant changes in turnaround practice. This edition explores how these new laws have impacted the ability of companies to restructure and recover. It also discusses the challenges and opportunities that these laws present for turnaround professionals.

Cash Control, Operational Change, Business Plan Development, and Team Building: Turnaround management requires a comprehensive approach that encompasses cash control, operational change, business plan development, and team building. This edition provides guidance on these key aspects, drawing on the authors' extensive hands-on turnaround management experience. It includes case studies to illustrate the practical application of these strategies.

Author Alan Tilley, chairman of leading turnaround boutique BM&T European Restructuring Solutions, brings his extensive expertise to this edition. With a wealth of experience operating in most jurisdictions in Europe and the US, he has held prominent positions such as president of TMA UK, founding director of TMA Europe, and vice president international of TMA Global. Additionally, as president of the European Association of Certified Turnaround Professionals, he has led the introduction of online and exam-based training and certification of turnaround professionals, with Leiden University as faculty.

In conclusion, this second edition of Turnaround Management is a valuable resource for turnaround professionals, executives, and policymakers. It provides comprehensive coverage of the latest legislative changes, key turnaround strategies, and best practices. With its insightful analysis and practical guidance, it equips readers with the knowledge and tools necessary to navigate the complexities of turnaround situations and achieve successful outcomes.

Dimension: 240 x 160 x 16 (mm)
ISBN-13: 9781787429826
Edition number: 2 New edition