2011 TMA Ch A p T er A nd Ou T s TA nding individu A l C O n T ribu ...

  • No tags were found...

2011 TMA Ch A p T er A nd Ou T s TA nding individu A l C O n T ribu ...

2011 TMA Chapter and

Outstanding Individual

Contribution Awards

TMA Chapter Awards


Mark S. Indelicato, Chair

Hahn & Hessen LLP

Michael C. Appel



Chapter Awards

Chapter of Year, Dallas/Fort Worth........................ 2

International Chapter of Year, Brazil..................... 3

Most Improved Chapter, Louisiana....................... 4

Outstanding Individual Contribution Awards

Cathy L. Reece............................................................. 5

Peter L. Tourtellot, CTP............................................. 6

Vincent J. Harper

M&T Bank

John R. Rizzardi

Cairncross & Hempelmann PS

Barbara Anderson

Vion Receivable Investments

Jonathan P. Reimche

PricewaterhouseCoopers LLP

Kristin B. Mayhew

McElroy Deutsch Mulvaney &

Carpenter LLP

Kenneth J. Malek

Conway MacKenzie Inc.

Max M. Toledo

Bridgeport Capital Services

2011 TMA Chapter of the Year


Fort Worth

Facing another year of

sluggish restructuring activity,

the TMA Dallas/Fort Worth

Chapter quickened its pace

in connecting with young

professionals, organizing

education programs around

restructuring “headlines”

and collaborating with

groups to promote the

restructuring industry.

Its first 2011 program on the

bankruptcy of the American

League champion Texas Rangers

baseball team assembled major

players, including William K.

Snyder, CTP, CRG Partners’

managing partner who was the

team’s CRO, and Bankruptcy

Judge Russell F. Nelms,

appointed as mediator in the

case by presiding Bankruptcy

Judge D. Michael Lynn. More

than 130 individuals attended

the program organized with the

Texas Hedge Fund Association.

By March, the chapter

notched another successful

education program, this time

on the banking industry and

featuring the state’s Banking

Commissioner Charles Cooper

and presidents from Capital

One Bank and Texas Capital

Bancshares, Inc. Members

read about programs and

milestones in the new

chapter newsletter.

In April, the chapter collaborated

with TMA’s Houston, Central

Texas, Louisiana and Oklahoma

chapters to host the 2011

TMA Southwest Regional

Conference in San Antonio. The

program presented analyses of

bankruptcy cases and a keynote

speech by Diane Vazza, head of

Standard & Poor’s Global Fixed

Income Research.

Members spent time compiling

names of young professionals

working in the industry, the

first step of a plan to launch

Grant Weiss

Chapter President

quarterly networking sessions in

2012. Young professionals also

joined the governance board,

making that transition with the

help of more experienced board


The chapter’s fifth annual

Corporate Renewal/

Restructuring Boot Camp,

held with the legal mentoring

organization Inns of Court,

offered 10, 90-minute sessions

about various aspects of

corporate restructuring.

Members helped develop

the syllabus for a turnaround

principles course at the

University of Texas at Dallas

and served as guest lecturers.

Volunteers also mentored

students entering the 2011

TMA Carl Marks Student Paper

Competition and saw one of

them, Sudhanshu Jain, win.

By year’s end, the 282-member

chapter added to its scorecard

54 members.


2011 TMA International Chapter of the Year

Salvatore Milanese

Chapter President


Within three years, the TMA Brazil

Chapter has transformed

from a start-up

chapter to a

reference point

for the corporate


discipline in

a region where

the industry is still


Approved as a TMA

affiliate in 2009, the

chapter capitalized on the

country’s 2005 adoption

of a modernized corporate

restructuring law and its ranking

as Latin America’s largest economy and

the world’s sixth-largest economy based

on 2011 GDP figures.

The chapter organized education

programs, built a presence in the news

media and connected with top-flight

law firms, business consultancies and

nonprofit professional organizations. The

chapter reported 196 members in 2011,

up 37 percent from its 143 members at

the end of its inaugural year.

With the business school INSPER, the

Institute of Teaching and Research,

the chapter offered its first certification

course, using as its base the TMA Body

of Knowledge courses in law, accounting

and finance, and management. Taught in

São Paulo, the four-month-long course,

with twice weekly classes and exams,

had 47 students, more than double the

number expected.

The chapter initiated bi-monthly

seminars covering topics such as

distressed funds in restructurings,

capital investments in turnarounds,

jurisprudence in the Brazilian Bankruptcy

Code and retention of high-performing

executives, and also held a oneday

seminar for professionals in Rio

de Janeiro. The 215 attendees at the

chapter’s third Annual Conference,

“Unleashing Corporate Restructuring –

Attracting Investments,” heard industry

experts from Latin America, Europe, and

the U.S. With revisions to the country’s

restructuring law likely, members worked

with judicial and legal representatives

from the nonprofit Brazilian Institute

of Corporate Recovery Studies to

suggest amendments.

Members offered comments on industry

trends for Valor Econômico, one of

Brazil’s largest financial newspapers, and

expect to raise their credibility with the

media further by creating an industry

database with statistics on business

type and company size gathered from

court-supervised reorganization cases.

The chapter is working with another

organization to develop the tool called

TMA Observatory.”

The chapter’s Web site presents content

in both Portuguese and English that

includes position papers, news articles,

and events. TMA Brazil is also a member

of the Twitterati.

With its renewed “public interest”

designation, similar to nonprofit status in

the U.S., the chapter prepared to launch

in 2012 charity fundraisers and establish

a scholarship for an INSPER student

showing aptitude for the corporate

restructuring industry.


2011 TMA Most improved chapter

Vincent J. Liuzza, CTP

Chapter President


Each year, the TMA Louisiana

Chapter adds a notch on its

belt of accomplishments. Its

membership hovered under 40

members for years until 2009,

when the chapter reached

45 members. Then in 2011, a

new membership chair helped

produce even stronger results:

64 members, up from 47

the previous year.

Improved education programs

also count. The chapter took

advantage of an annual

Louisiana State University

bankruptcy symposium by

inviting bankruptcy judges there

to participate in an education

program with TMA members

in Baton Rouge. The popular

sessions produce a crowd, with

attendees eager to hear judges

from around the state answer

questions and later, strike up

conversations over cocktails.

In addition to productive

hobnobbing, eligible attendees

had the opportunity to qualify

for continuing education credits.

At a different program, attendees

heard Chief Judge Elizabeth W.

Magner from the state’s Eastern

District, which includes

New Orleans, discuss how

turnaround professionals can

help lawyers shore up business

knowledge before they appear in

court with their debtor client in a

Chapter 11.

The chapter also organized

an education program about

disposing underperforming

loans, anchored by a workout

officer, asset-based lender and

other financial professionals.

Members had more time to

mingle with the introduction of

afternoon networking events.


2011 Outstanding Individual Contribution

Cathy L. Reece

Fennemore Craig, P.C.

As a new law school graduate in

1979, Cathy L. Reece clerked for

then Arizona Court of Appeals

Judge Sandra Day O’Connor,

a few years before President

Ronald Reagan tapped O’Connor

for the U.S. Supreme Court.

Since then, Reece has kept

up the ambitious pace both

as a practicing attorney and

TMA volunteer.

As TMA Arizona Chapter

president in 2002 and 2003,

Reece shepherded the chapter’s

growth from 45 to 120 members

and established education

program practices still in place,

including the Annual Lenders

Panel. Those achievements

were underlined in the chapter’s

selection as TMA’s Most

Improved Chapter in 2003.

Later, Reece volunteered in

several TMA Global committees,

including the TMA Awards

Committee, the Strategic

Planning Committee, the

Member Survey Task Force and

the TMA Journal of Corporate

Renewal Editorial Advisory

Board, before being elected

a TMA officer. She held vice

president positions for five

years and served on the TMA

Executive Committee and

Board of Directors for six years,

leaving her imprint in each

position she held.

“Cathy has been instrumental

in the growth and awareness

of TMA,” wrote Arizona TMA

Chapter President Christopher

Kaup. “Individuals like her

deserve recognition for their

dedication and commitment.”

As membership vice president

in 2006 and 2007, Reece created

a strategy dubbed “Upsizing

Your Membership” to reverse

stagnant growth and floated an

organization-wide goal of 8,000

members. At the 2007 TMA

Annual Convention, buttons on

the suit lapels of board members

blazed, “Will you be the 8,000th

member?” TMA, which ended

2007 with 8,304 members, now

has more than 9,000 members.

Reece created the Diversity

Subcommittee to help chapters

appeal to women, minorities,

young professionals and other

underrepresented groups. She

also initiated the Ambassadors

program, which connected

first-time attendees at TMA

conferences with active

members and past officers. As

vice president of conferences

in 2008, she made a prescient

suggestion to move the TMA

Spring Conference from resort

settings to the financial centers

of New York and Chicago to

bolster attendance.

After serving as

TMA corporate secretary, Reece

was elected vice president of

communications in 2011 as

TMA’s flagship publication, the

Journal of Corporate Renewal,

underwent its first major

redesign since 2002. With her

input, the JCR’s editorial board

grew and introduced new

editorial features and themes.

Reece chairs the bankruptcy

and creditors’ rights practice at

Fennemore Craig Attorneys in

Phoenix, representing mostly

lenders in business bankruptcies

and workouts. She is past

chair of the Arizona State Bar’s

Bankruptcy Section and its

Local Bankruptcy Rules

Committee. A college music

major, Reece earned her law

degree from Arizona State

University, where she was

managing editor of the Arizona

State University Law Journal.


2011 Outstanding Individual Contribution

Peter L. Tourtellot, CTP

Anderson Bauman Tourtellot Vos

“We are one of the only

associations that I know of that

is cross-disciplined, so I think

that education is probably more

important here than for any

other association I can think of,”

said Peter L. Tourtellot, CTP,

in an article marking TMA’s

15th anniversary.

Published in 2003, that

statement is a guiding principle

for TMA as it continues to

develop education programs

relevant to its more than 9,000

members. Credit is owed largely

to Tourtellot’s stalwart and

unswerving advocacy.

Tourtellot has been wed to

the turnaround management

industry long enough to be

considered a pioneer. In 1989,

he co-founded Anderson

Bauman Tourtellot Vos & Co. in

Greensboro, N.C., a year behind

TMA’s launch after a research

study on business failure and

the turnaround process spurred

interest in establishing an


Tourtellot joined an 857-

member TMA in 1991, helping

launch the TMA Carolinas

Chapter. He earned his Certified

Turnaround Professional

(CTP) certification and became

Carolinas Chapter president

before moving into TMA Global

leadership positions where he

could trumpet the importance

of high professional standards

as a reliable way to differentiate

professionals in an industry that

has a low barrier to entry.

As TMA president and chairman

in 2001 and 2002, respectively,

Tourtellot oversaw TMA’s

international expansion, CTP

marketing initiatives,

development of organizationwide

public relations and

the transition of TMA from a

volunteer-run organization to

one whose daily operations are

managed by a professional staff.

Tourtellot conceived and led, in

2003, Cornerstone 15, a $1.5

million campaign that

established a board-designated

endowment dedicated to

research and continuing

education in the corporate

restructuring industry. It

supported TMA webinars

and online courses, as well as

university research.

In 2003, Tourtellot became

president of the Association

of Certified Turnaround

Professionals (ACTP), TMA’s

sister organization that built

the structure for evaluating

candidates for the CTP

designation, and later served

two years as ACTP chairman.

After ACTP merged with TMA

in 2007, Tourtellot served as

vice president of certification

and chaired the Certification

Oversight Committee for two

years. He remains active in

certification matters.

“Peter Tourtellot is an iconic

member of TMA,” wrote Mark

Jones of The Finley Group, who

nominated Tourtellot. “He is

respected as an industry leader

by not only the clients

he has served, but also his

fellow colleagues throughout

the industry.”

Tourtellot was inducted,

along with fellow past TMA

chairpersons, into the

Turnaround, Restructuring and

Distressed Investing Hall of

Fame in 2008. Tourtellot also

serves as an advisory board

member and past chairman of

the Love School of Business

at Elon University in Elon,

N.C., which established a

scholarship in his name in 2011.

He has written articles about

the industry for the Journal of

Corporate Renewal, among

other publications.


150 South Wacker Drive, Suite 900

Chicago, Illinois 60606

Phone 312-578-6900

Fax 312-578-8336



More magazines by this user
Similar magazines