AIBF New Zealand Branch Forges Strategic Alliance: As Part of Our Ongoing Activity in Establishing Strategic Alliances with Other Financial Service Organisations, Our New Zealand Regional Executives Recently Cemented a New Alliance with the Turnaround Management Association of New Zealand. (Special Update)
To launch this alliance, senior TMA executives gave a series of presentations to AIBF members in major NZ locations, with TMA members also in attendance. These events were kindly sponsored by the leading accounting firm McCallum Petterson.
The TMA is an international body of financial professionals engaged in corporate renewal and change management. The NZ chapter's goal is to be seen as the centre of excellence in all turnaround management matters. Its overall aim is to protect and enhance NZ's viable commercial activities and employment levels by restoring and revitalising corporate value.
Many NZ professionals are committed to preserving and enhancing the asset value of companies, and many also have years of experience in rescuing and turning around troubled companies. But until the NZ TMA chapter was formed, these professionals had no formal network of business contacts and intelligence to link them.
A further obstacle in NZ has been the inefficient nature of the venture capital market and the absence of a secondary market for commercial debt. This has meant that companies requiring an injection of capital during restructuring have found it exceedingly difficult to locate suitable investors. …