Norman B. Newman Named Chapter President for Turnaround Management Association

CHICAGO—January 7, 2008—Much Shelist Principal Norman B. Newman, Chair of the firm's Creditors' Rights, Insolvency & Bankruptcy practice group, has been named President of the Chicago/Midwest chapter of the Turnaround Management Association (TMA). His term runs through December 31, 2008.

For the majority of his 32 years in legal practice, Newman has focused on bankruptcy and related matters, representing debtors, creditors, creditors' committees and bankruptcy trustees in all phases of proceedings under the Bankruptcy Code. He has extensive experience in handling reorganizations, in-court and out-of-court loan workouts, creditor compositions, and liquidations and assignments for the benefit of creditors. Newman has also served as bankruptcy trustee in a number of significant cases and is a member of the Private Panel of Trustees for the U.S. Bankruptcy Court for the Northern District of Illinois.

"The energy and enthusiasm of all the TMA chapters have fueled the forward momentum and growth of TMA International,” said TMA's 2008 Chairman William E. J. Skelly. "The Chicago/Midwest Chapter is known for its innovations in education that have become models for other chapters and for its outstanding networking events. Mr. Newman will become part of the legacy of strong leaders since the chapter's formation in 1990. We look forward to his sharing his expertise as he serves on the TMA International Board of Directors during 2008."

With approximately 1,100 members, TMA's Chicago/Midwest chapter is the largest and one of the most active in the country. TMA is the only international nonprofit association dedicated to corporate renewal and turnaround management. With international headquarters in Chicago, the organization's 8,000 members in 43 regional chapters (including nearly 15 outside the United States) comprise a professional community of turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters and consultants. For more information, visit www.turnaround.org.