TMA’s Carl Marks Student Paper Competition Won by NYU, Northwestern, and Elon Students

(TMA International Headquarters)

The Turnaround Management Association (TMA) announces the winners of the 2004 Carl Marks Student Paper Competition to recognize outstanding student achievement in the field of corporate renewal. The 13 papers submitted were written by students enrolled an MBA program or equivalent business-related master’s program at an accredited university . The winning papers were selected on the basis of their relevance to issues relating to corporate distress, financial restructuring and reorganization and quality of writing and analysis.

The cash prizes are funded by C arl Marks Consulting Group LLC and Carl Marks Capital Advisors LLC in New York , affiliates of Carl Marks & Co., a leading merchant bank in New York. TMA provides travel and registration for one member of the 1st and 2nd place teams to the Annual Convention, October 15-18, 2004, at the Marriott Marquis in New York.

The 2004 Carl Marks Student Paper Competition Awards go to:

• $3,000 First Place Award: “ The European Distressed and Defaulted Debt Market” Authors: Itay Singer and John Burke. Advisor: Dr. Edward I. Altman, Professor of Finance, New York University Stern School of Business, New York
•   $1,500 Second Place Award: “Marvel Comics Turnaround” Authors: Karl Bracken, Nathan Chandrasekaran, Justin Kessler, Hitoshi Mitani, Urapa Nontasut and David Youn. Advisor: Dr. James B. Shein, Adjunct Professor Kellogg School of Management, Northwestern University, Chicago  
• $600 Honorable Mention Award: “RRR Home Improvement: Providing Shelter for Strong Growth” Authors: Doug Cornett, David Kramer, and Scott Mackey. Advisor: Kevin O’Mara, Associate Professor, Martha & Spencer Love School of Business, Elon University, Elon, N.C.

Turnaround Management Association (www.turnaround.org) is the only international non-profit association dedicated to corporate renewal and turnaround management. With international headquarters in Chicago, TMA has 6,800 members in 34 regional chapters comprise a professional community of turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, accountants, appraisers, liquidators, executive recruiters and consultants. Members adhere to a Code of Ethics specifying high standards of professionalism, integrity and competence. Its Certified Turnaround Professional (CTP) program recognizes professional excellence and provides an objective measure of expertise related to workouts, restructurings and corporate renewal.

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