Q You’ve been involved with the TMA UK Chapter right from the
In fact, I was a member
of TMA before they got a chapter
going in the U.K. I probably became
a member originally in 1996 or 1997
because of my interest in turnarounds.
Unlike many restructuring people in
practice, I actually spent some years
working for a corporate in the
mid-‘90s, so I gained a very useful
insight into the world of turnaround
without recourse to a formal
At the moment, I’m leading the charge
with EACTP. One of the criticisms of
TMA in the U.K. by the wider market
has been that we can just pay and
become members and don’t have
an accreditation program. People
tried to undermine TMA in the U.K.
as a consequence of that. We’ve
finally risen to the challenge to try to
formulate an accreditation program,
which will build upon a combination
of both technical knowledge
and a demonstration of that by
examination and also by experience.
Q You saw the value of TMA very early. How did the organization
appeal to you?
Years ago in the U.K.,
Jones who ran a TV show called
“Troubleshooter.” Basically, he used to
go into businesses and give them the
benefit of his inspiration to try to
improve those businesses. I remember
one program that featured the Morgan
Motor Car Company. That really fired
my imagination in terms of turnaround.
That’s why I was keen to get involved,
recognizing that preservation of
enterprise value was potentially a more
productive route than is often cited in
terms of an insolvency process being
I’m a chartered accountant and
licensed insolvency practitioner in
the U.K. I suppose back in the early
2000s, my inspiration for getting
involved in TMA UK was to gain access
to a different network of connections
than that I had historically attained
through the pure insolvency route.
Q Has that worked out as you had hoped?
I think it has for me and
my firm. I think it gave me a soapbox, if
you will, to promote my own brand and
also that of my firm more widely in the
U.K. I saw TMA in the U.K. as being
virgin territory at the time. Clearly it
was an untrodden path, and so I was
So that was one scenario that was
particularly close to my heart, (a) because
of their situation and (b) because it
involved some airplanes, which is part
of my interest outside the day job.
Eastern European Conference
15 May 2014
National Bank of Romania