TMA Chicago Midwest Podcast

In this episode of the Turnaround Management Association’s (TMA) Chicago/Midwest podcast, Partner at Paladin Management Group Stefan Piotrowski sits down with host Paul Musser to discuss the importance of Chief Restructuring Officers (CROs) in distressed situations. Stefan delves into a CRO’s need for effective communication with stakeholders during turnarounds to ensure success. He also compares the unique challenges that often arise in family-owned businesses versus sponsor-backed companies. Then, Stefan and Paul discuss the value of networking and proactive relationship-building through organizations like the TMA. For new professionals entering the restructuring field, Stefan notes that first and foremost, good work is paramount, along with maintaining contact with new connections.

In this episode of the TMA Chicago/Midwest podcast, Senior Managing Director at Development Specialists, Inc. (DSI) Steven Victor sits down with host Paul Musser to discuss the evolution of the restructuring industry over the span of Steven’s career, the perception of bankruptcy as a rehabilitative process, and the role of assignments for the benefit of creditors (ABCs) as an alternative to Chapter 7 bankruptcy. Steve shares insights on the advantages and disadvantages of ABCs, the shift in their use by family-owned businesses to venture capital firms, and the importance of professional organizations, such as the TMA, in fostering community and professional development. He and Paul also emphasized the value of writing as well as committee involvement to enhance one’s brand and reputation within the industry.

In this episode of the TMA Chicago/Midwest podcast, Managing Partner and Founder of Ravinia Capital Tom Goldblatt sits down with host Paul Musser to discuss the intricacies of the role of investment bankers in navigating distressed sales and refinancing processes. Tom, among other things, shares insights on the importance of establishing a structured process and the strategic use of stalking horse bidders. Their conversation also highlights the recent Roti Mediterranean sale that Tom worked on, illustrating the challenges and successes in such distressed transactions. Additionally, Tom shares takeaways from his involvement in the Turnaround Management Association (TMA), considerations for marketing oneself, and the benefits of networking and developing meaningful relationships with industry peers.

In this episode of the TMA Chicago/Midwest podcast, Judge Deborah Thorne of the U.S. Bankruptcy Court for the Northern District of Illinois sits down with host Paul Musser to discuss her path to becoming a bankruptcy judge and her transition from private practice to the bench. Judge Thorne also shares perspectives from her experience as a woman in the restructuring and legal industries, as well as current trends she’s observed in her commercial bankruptcy cases. Additionally, she and Paul discuss the impact of virtual hearings on courtroom dynamics and collegiality between legal professionals as well as recommendations for younger attorneys starting out in the restructuring field, including engaging with peers and mentors, participating in industry networks and volunteering for pro bono opportunities.

In this episode of the TMA Chicago/Midwest podcast, Co-Head of the Portfolio Group at Monroe Capital LLC, Jonathan Weinberg, sits down with host Paul Musser to discuss his career path in restructuring, comparisons and contrasts between private credit and traditional bank lending horizons, and the importance of early intervention in workouts. He also shares insights from his own involvement in TMA and advises young professionals to invest time in networking within the restructuring community in order to build trust, learn and develop skills, and foster professional growth.