The Chicago/Midwest Chapter has over 60 Certified Turnaround Professionals (CTP) and a new column in the TMA newsletter will feature one or more of the Chapter’s CTPs. Learn from their experience and see why you may want to consider making certification a professional development goal in the near future.
Why should you consider obtaining CTP status? Completing the CTP certification exam process provides a corporate renewal professional with an objective credential demonstrating their proven success in the industry and the opportunity to enhance future earning power. In fact, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (S. 256) makes certification more important than ever. Section 415 directs courts to consider whether a professional person is certified or has otherwise demonstrated skill and experience in the bankruptcy field. This amendment makes certification a specific factor in the award of compensation to professionals.
This month's CTP: Chris Blacker of Alix Partners
Why did you pursue a CTP?
I wanted to make sure I was aware of all the tools and approaches that existed that could be brought to bear in restructuring situations
Hardest part of obtaining the CTP?
Studying on top of client and family obligations… finding the time
Most satisfying turnaround experience?
Took Parmalat USA from pre-filing to emergence… arriving on-site to help prepare for bankruptcy filing, aided them thru the entire process, worked on exit loan and finally, post-closing emergence items over a 18 month period. At times lots of drama and side stories but in the end a good recovery for creditors. Soup to nuts experience.
Favorite non-work activity?
Watching my three kids play hockey.
Fun fact that most people do not know about you or your favorite book?
Through summer part time work at University of Illinois I helped find the upper quark particle (previously undiscovered sub-atomic particle) as part of an experiment at Fermi lab
It’s a pleasure to join the CTP community and the responsibilities that go with it!