Turnaround Management Association Croatia (TMA Croatia) was established in 2015 as a local chapter of TMA Global, an international organisation dedicated to corporate restructuring headquartered in the US city of Chicago.
TMA Global was established in 1988 as the sole international organisation dedicated to corporate renewal and restructuring. TMA Global is a professional association with over 9,300 members in 49 local chapters around the world – in the USA, Australia, Brazil, the Czech Republic, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, South Africa, Spain, Sweden, Taiwan, Great Britain and other countries. The members of this professional association, active through its local chapters, are primarily consultants working in corporate restructuring (43% of all members), with other members coming from professions involved in the process of corporate restructuring, including accountants, attorneys, bankers and other lenders, private equity and other investors, insolvency practitioners, liquidators, representatives of government and regulatory bodies and of the academic community.
TMA Europe is a professional association representing the 11 European chapters, serving as a forum for improving the legal and business climate in corporate restructuring in the member countries of the European Union, providing for an interchange of positive experiences and the dissemination of good business practices, and serving as a venue for networking and finding investors across the continent via regular newsletters and the TMA Europe Annual Conference.
TMA Croatia is a non-governmental and non-profit association, established with the purpose of achieving objectives in the area of operational and financial restructuring management for business entities, to help them overcome financial and other difficulties in restructuring management and in achieving a turnaround. The association conducts in activities in collaboration with TMA Global.
The objectives of TMA Croatia include:
An exchange of experience and knowledge, and continual education with the objective of educating members in providing management and restructuring services as independent professionals or in other roles (e.g. as financiers and other) and their acquisition of additional knowledge beneficial to their profession, i.e. their roles in the restructuring process;
Linking members to other professionals via TMA International and other channels, through their participation in the work of TMA International, at seminars, congresses, conferences and other events;
Disseminating knowledge through the introduction and promotion of best international market practices between businesses in relation to managing restructuring with the objective of improving management through this process in businesses experiencing financial, operational and other difficulties and providing the professional services required in this process, including the education of the members of the management boards / managers of businesses;
Engage with the authorities and other stakeholders with the purpose of promoting the best international market practices in the legal and regulatory environment.
The founders of the TMA Croatia (and the first members of the Managing Board) are: