Monday, February 3, 2014  |  Turnaround Management Association  |  turnaround.org
It's Not Too Late to Register! 
TMA Distressed Investing Conference in Las Vegas

February 5-7 | Bellagio | Las Vegas
Register today for the 2014 TMA Distressed Investing Conference and save up to $150 off onsite registration fees. Today is the last day to register online.
 
See Who's Coming
Connect with more than 600 leading industry professionals this week in Las Vegas. For a list of firms attending, click here. Registered attendees gain access to the full attendee list, complete with contact information.
   

TMA Accepting Applications for Annual Awards
Outstanding Individual Contributor and Emerging Leader Award applications are due Saturday, February 15. Award winners will be recognized at The TMA Senate: The Art of Negotiation, May 7-9, at the Fairmont Chicago Millennium Park in Chicago.
 
 
Turnaround and Transaction of the Year Award applications are due Tuesday, April 15, by 3:00 p.m. Central. Award winners will be honored at The TMA Annual, September 29 -- October 1, at the Westin Harbour Castle in Toronto. 
 

Learn more about about TMA awards. 

Chapter President Spotlight
Allen Wilen, TMA New Jersey Chapter President

 

What makes your chapter great? 

The New Jersey Chapter is unique in that it is squeezed between two of the largest TMA chapters in the country, yet we maintain our own identity and continue to grow. We have a healthy treasury and a great group of members who come out and support our chapter. I am proud that our chapter gives back to the community, running events for a local orphanage and offering a scholarship program to the children and grandchildren of our members.

 

Why or how did you get involved in TMA? In chapter leadership? What have you gotten out of your involvement?

I got involved about 10 years ago to grow my network of business contacts. I was in my mid 30s and saw TMA NJ, which, at the time, was a much smaller chapter, as a way to get to know people in the marketplace. I had come from a Big 4 firm a few years earlier and saw it as an alternative to running into Philadelphia or New York. I decided to get involved because I felt that was the best way to get to know people and understand the opportunities available.  Along the way, I was the treasurer and really was able to grasp the operations of the chapter. My involvement has led me not only to great people and great business opportunities but also to learn from some really smart people at our educational events.

 

What's the most significant trend or event happening in the turnaround and restructuring industry?

The industry is getting smaller and changing every day. When I first started the average case length was much longer and the relationships at financial institutions were fairly static. Now the matters are shorter and the referral sources change every day. I no longer know where the next matter is coming from....it is the new face of the industry. 

 

What would someone who only knows you professionally be surprised to learn about you?

I am only 43 years old and have over 21 years of experience in this field. It is all I have ever done since joining Arthur Andersen's Restructuring Practice in 1992.

TMA New York City Chapter: Professor Altman's Corporate & Sovereign Credit Market Outlook
  
The TMA New York City Chapter recently held its 13th annual installment of Professor Edward I. Altman's "Corporate and Sovereign Credit Market Outlook" for 2014. The luncheon conference was a members-only event and a great success. 
 
To view photos from the event, click here
 
JCR Article Spotlight: No 'Safe Harbor' from State Law Claims for Tribute Shareholders

Investors who sold Tribune Company stock in a 2007 leveraged buyout (LBO) won an important legal battle recently that insulates them from facing multiple lawsuits seeking the same recoveries as a result of that failed transaction. However, the court's decision not to apply Section 546(e) to state law individual creditor constructive fraud claims no doubt will encourage further efforts by plaintiffs to employ creative strategies to avoid the safe harbor in future fraudulent transfer cases. 

 

Read more of the article by Michael Klein, Esq., Cooley LLP.

 

Download the November/December digital issue of the Journal of Corporate Renewal to read on your desktop, smartphone, or tablet.

JCR Available on the App Store          JCR Available on Google play
Upcoming Chapter Events

 

Wednesday, February 5
 
Monday, February 10
Welcome Newcomers
TMA extends a warm welcome to the newest members. A few new members are featured below. See the full list.

Kristin Going, Drinker Biddle & Reath LLP - Chesapeake Chapter
David K. Hanley, KPMG LLP - Chicago/Midwest Chapter
Steven Hunt, Citibank NA - Connecticut Chapter
Amir A. Isaiah, Kaufman Rossin & Co. PA - Florida Chapter
Jarod L. Kimble, EY - Chicago/Midwest Chapter
Monique R. LeGris, The Huntington National Bank - Detroit/Grand Rapids Chapter
Natalie Levine, Dentons Canada LLP - Toronto Chapter
Matthew J. Lew, Deloitte CRG - Southern California Chapter
Pierre Marchand, Richter Inc. - Montreal Chapter
Dan Paulus, NAI Valuation Services Group - Arizona Chapter
Recent Deals, Transactions, and Other News  
  • North Mill Capital Closes Refinancing of $90 million ABL Credit Facility with Wells Fargo Capital Finance (more)
  • Great American Group Subsidiary, GA Europe, Sells UK Footwear Chain (more
  • FirstMerit Bank Business Credit announced it closed a new $25,000,000 revolving credit loan facility to Arrow Tru-Line, Inc. and a new revolving credit loan and term loan facilities to Avtron Aerospace, Inc. (more)
  • Fesnak, LLP Announces Formation of Fesnak Outsourcing LLC to Capitalize on Growth in Finance and Accounting Outsourcing (more)
  • BMO Harris Agents $72MM Facility for Interflex Acquisition (more
View additional member deals and transactions.
To share your organization's news, email us.
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TMA Global Events

February 5-7 

2014 Distressed Investing Conference

Las Vegas, Nevada

 

May 7-9

The 2014 TMA Senate

Chicago, Illinois

 

September 29 - October 1

The 2014 TMA Annual

Toronto, Ontario

Journal of Corporate Renewal

Download the November/December issue of JCR, now available online and as an app for your tablet or phone.  

TMA Weekly Report is the official weekly newsletter of the Turnaround Management Association, the leading organization dedicated to corporate restructuring, turnaround management, and distressed investing. Established in 1988, TMA has more than 9,300 members in 49 chapters around the world.

To sponsor TMA Weekly Report, please contact Suzie Smith at [email protected] or 410-584-1975.