A Letter From the 2016 TMA Global Chair
Kat Parker,
2016 TMA Global NextGen Chair
2015 ended on a high note for TMA NextGen. We wrapped up a great year of NextGen events with our annual NextGen Leadership Meeting held at the offices of Weil Gotshal in New York City, November 7-9. I look forward to seeing many of you at our 2016 leadership meeting, to be held October 13-15 at Kirkland & Ellis in Chicago. This is our first year holding the leadership meeting in Chicago, and our planning committee is already hard at work preparing the agenda and planning some exciting networking opportunities. 
The Distressed Investing Conference in Las Vegas is quickly approaching! I hope to see many of you there. NextGen is hosting a cocktail reception on Thursday in the presidential suite, so please come to meet and mingle with your fellow NextGens.

The NextGen Global Subcommittees are already hard at work, and I can't wait to see what they achieve in the coming year. I am particularly excited about our new non-profit stewardship subcommittee, which is working to identify volunteer opportunities at national conferences and to encourage volunteer efforts at the chapter level. If you have any suggestions for future volunteer opportunities at any of the national conferences, please contact Juhee Desai or Ryan Farley

We are still looking for people to get involved in NextGen at the global level! This is a great way to meet and network with fellow restructuring young professionals. Building relationships with each other is the key to the success of TMA and the NextGen program. There are so many opportunities throughout the year to grow and maintain our NextGen networks. Even if you have never volunteered at the global level before, we are eager to involve as many people as possible. If you have any interest in volunteering, please contact myself, Shannon Hoff (2016 Vice-Chair), or Maura Sage


Kat Parker, 2016 TMA Global NextGenChair
NextGen Member Spotlight
Kelley McLaren, CTP, & Luis Lluberas
T MA Global honored TMA Carolinas NextGen members Kelley McLaren, CTP Finley Group, and Luis Lluberas , Moore & Van Allen PLLC, along with four other restructuring professionals at The 2015 TMA Annual on October 6 with the TMA Turnaround of the Year: Small Company award for their work on the Bost Distributing Co. (BDC) matter. 

McLaren and Lluberas were instrumental in the turnaround of BDC's business enterprise, consisting of multi-site food processing facilities based  near Raleigh, North Carolina. McLaren served as the entity's interim CEO after the entity was placed in receivership, and  Lluberas served as legal counsel to the receiver. McLaren, Lluberas, and the other restructuring professionals revitalized BDC's business enterprise while navigating complex legal issues, and were able to preserve the jobs of approximately 50 of BDC's employees through the consummation of a sale of substantially all of BDC's assets under section 363 of the bankruptcy code to the secured creditors' designee.
Kelley McLaren, CTP
Luis Lluberas
What TMA Chapter do you belong to?
KM: Currently the Carolinas, I was previously a member of the SoCal Chapter.

LL: The Carolinas Chapter, which covers both North and South Carolina.
How did you get involved in TMA?
KM: While I was still in San Diego I was looking for another organization to join relevant to our industry and a colleague suggested TMA. I started to attend the meetings and found that there were a lot of opportunities for leadership roles and networking. I also lucked out and had a few people take me under their wing and help me get involved with NexGen and the local board.

LL: I attended several of the Carolinas Chapter's events as a non-member and found them to be both enjoyable and a great opportunity to meet other professionals with the same professional interests. It became an easy decision to join TMA when I realized I'd break even or save money by paying the member rate as opposed to the non-member rate, in addition to receiving all of the other benefits of membership.
How does being a TMA NextGen member impact you professionally?
KM: It has helped me to build my network much faster than I could on my own and beyond the borders of my city. Through that network I have been able to better assist my clients because I have a broader base of colleagues that I can reach out to that I trust. On a personal note, two of my really good friends have come from TMA NextGen.

LL: TMA NextGen membership helps me expand my network of professionals that are similarly situated to where I am in my career.
Did you know each other prior to working together on the project that won you an award?
KM: No. I had met Shannon Hoff, a Charlotte attorney, at a NextGen leadership conference and when I needed an attorney in North Carolina I called her first. She was conflicted out of the case and recommend Luis to me.

LL: Our first conversation was when Kelley called me on a Friday afternoon to discuss the company's bankruptcy filing that was expected to occur imminently. Luckily, we had more time than just a weekend to prepare! It's been a pleasure to get to know Kelley both professionally and personally. Given our complementary skill sets, I look forward to another opportunity to partner up with her on a distressed credit.

Has this award helped you professionally, both within and outside your firms?
KM: Internally, it gave credence to my resume as I was changing firms. From an outside perspective, it is something that potential clients like to see as I think they view it as another form of credibility.

LL: Yes. Every practitioner has the tough task of having to differentiate himself/herself from other practitioners to convince a prospective client that he/she has the acumen and technical expertise to warrant that client's trust in handling a particular engagement. It's an even tougher task for younger practitioners like me who can't cite decades of experience as a credential. The award has helped me tell prospective clients that I have the skill set they desire of an attorney (at any stage of their career), and emphasize that they will receive a high level of service when retaining me and Moore & Van Allen PLLC for an engagement.

What would you say to someone considering becoming a TMA member who would fall into the NextGen membership category?
KM: Generally speaking, one of the most important things you can do in your career is build your network and I think it is important to start that in your career early.

LL: You should join both TMA and NextGen as it's absolutely worth it. What I value the most about membership is that my fellow members are a diverse group of turnaround professionals (lawyers, accountants, appraisers, investment bankers, workout officers, etc.), so TMA is unlike most other professional organizations where every member has the same background and is likely a direct competitor.

Is there an upcoming NextGen event you are looking forward to? 
LL: The Carolinas Chapter has an annual sporting clays event in the fall, which is fantastic. The event fills up quickly and is always oversubscribed, so I keep a keen eye out for the e-mail announcement.
What would someone who only knows you professionally be surprised to learn about you?
KM: I have signed memorabilia from Madonna and Britney Spears

LL: That my native language is Spanish. It's rare that I get to use it in my practice, and I don't have an accent in English, so colleagues either don't know about it or forget.
Chapter Spotlight: TMA New Jersey NextGen
TMA New Jersey's NextGen division is small but growing, as members put significant effort behind increasing attendance at events and reaching out to potential new members one-on-one. NextGen currently represents a notable 9 percent of the chapter's total membership, and they continue to see new faces at events.

Out-of-the-ordinary social events and educational panels draw increased attendance, averaging 30 members at each event. The most popular is the Hoboken Pier event, a summertime waterfront cocktail and networking party that livens up a traditionally slow time of year. In addition, this past October NextGen hosted a panel discussion on a topic close to everyone's heart: A Road Map for a Young Professional's Personal Wealth. For 2016, they are planning at least one event per quarter, including a charity event and the perennial favorite Hoboken Pier event.

Another part of their success in recruiting NextGen members has been their active promotion of the new Certified Turnaround Analyst (CTA) designation. Last year, TMA New Jersey received the Operational Excellence Award in part due to their outstanding NextGen efforts.

TMA New Jersey Leadership
Michelle Aurich, Co-chair
Keara Waldron, Co-chair
Dipesh Patel, Board Member
Michael Albanese
Kelly Curtin
Sydney Darling
Diane Rallo

Overseen by Steve Ravin & Steve Agran

Click here to visit this Chapter's website.   
NextGen Event Re-Cap
The 2015 TMA Annual
The weekend prior to The 2015 TMA Annual, NextGen organized a few informal events for conference attendees to enjoy some of Scottsdale's attractions and amenities. On Saturday, October 3, NextGen hosted games at Topgolf. Topgolf is the premier entertainment venue for fun point-scoring golf games. Following Topgolf the group enjoyed dinner at Downside Risk, a local bar and restaurant in Scottsdale. 

Sunday, October 4, NextGen organized a tour of Taliesin West. Taliesin West was architect Frank Lloyd Wright's winter home and school in the desert from 1937 until his death in 1959 at the age of 91. Today it is the main campus of the Frank Lloyd Wright School of Architecture and houses the Frank Lloyd Wright Foundation. After the tour, NextGen members gathered for lunch at the renowned Four Peaks Grill & Tap House. 

Monday, October 5 marked the first day of The 2015 TMA Annual held at the Fairmont Scottsdale Princess. NextGen members enjoyed a networking reception on the Canyon Lawn and dinner at La Hacienda restaurant. 

The following day, NextGen presented an education session on Maximizing Stakeholder Value in Cross-Border Restructuring that was moderated by Spencer Ware, CTP. The educational session presented a variety of issues and lessons informing turnaround professionals about the trend in international restructuring practices.

2015 TMA NextGen Leadership Meeting
On November 7, NextGen kicked off its fourth annual leadership conference at the Cornell Club in New York City followed by small group dinners at various NYC restaurants. 

The next day, over 70 attendees gathered at Weil Gotshal for a lunch presentation from TMA leadership and sessions on NextGen best practices and leadership and organizational effectiveness. On Monday, the conference featured additional sessions on mediation, a TMA Network of Women presentation on unconscious bias, a bankruptcy judges panel, a mock negotiation session, and the always popular "Tips from the Titans" panel. 

The attendees represented 80% of all North American chapters and several international chapters, including United Kingdom, Southern Africa, Brazil, Australia, and Singapore. The conference also featured several networking opportunities, including a reception at Lexington Brass, an event with TMA NYC NextGen, and a women's lunch hosted by Debevoise & Plimpton.

View more photos here.
This year's conference also featured the first ever NextGen community service project. Prior to the conference kick-off, several conference attendees assisted in the restoration efforts for the Yankee Ferry, one of the original ferries that took passengers to and from Ellis Island. The team helped by cleaning the top deck and prepping it for a new paint job. After working, the volunteers got a tour of the ship and enjoyed a lunch donated by HYPERAMS, LLC on the bow of the boat. For 2016, NextGen has organized a non-profit stewardship committee which will focus on organizing and promoting volunteer opportunities at future TMA events.
Planning is already underway for the 2016 conference, scheduled for October 13-15 in Chicago. Please mark your calendars for this invite-only conference!
Upcoming TMA NextGen Chapter Events

Wednesday, February 10
NextGen: Come Celebrate the Year of the Fire Monkey! (TMA New York City)

Thursday, February 18
TMA NextGen Reception at the Distressed Investing Conference (TMA Global)

Wednesday, February 24
Joint NextGen/IWIRC Beer and Food Pairing (TMA New Jersey)

Thursday, February 25
NextGen Quarterly Networking Event (TMA Philadelphia)

View all chapter events here
We Need Your Help!


This quarterly newsletter is created by members of TMA NextGen for TMA NextGen. Read an article recently that you'd like to share? Has your chapter completed a successful TMA NextGen event? Do you know someone whose contribution to the industry deserves a shout-out? Let us know! We want to highlight your special recognitions and accomplishments to the TMA NextGen community.


Email Maura Sage at msage@turnaround.org with your suggestions and you may see it in the upcoming NextNews!

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2016 TMA NextGen Communications Council 

Christopher Broussard, Co-Chair
Suzy Tate PA

Jamie Cote, Co-Chair
Madison Hawk Partners LLC

Sabyasachi (Saby) Bose
Walker Nell Partners Inc.

Shante George
Baker Tilly

Nick Payne
Siena Lending Group

Ben Steele

Dan Wootton
Grant Thornton
TMA Global Events
2016 TMA Distressed Investing Conference
Las Vegas, Nevada
October 13-15
2016 TMA NextGen Leadership Meeting
Chicago, Illinois
*Invite only

November 2-4
The 2016 TMA Annual
Disney's Yacht Club Resort
Lake Buena Vista, Florida
Turnaround Management Association is the leading organization dedicated to corporate restructuring, turnaround management, and distressed investing. Established in 1988, TMA has more than 9,000 members in 53 chapters around the world. 
Turnaround Management Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: learningmarket.org.