Saving jobs, regaining profitability, avoiding liquidation and thriving after bankruptcy were among the narratives submitted by nominees of the Chicago/Midwest Chapter of the Turnaround Management Association’s (Chicago/Midwest TMA) annual awards. The awards program recognizes members for their outstanding achievements in the corporate renewal profession.

Winners in the following categories were selected: Large Turnaround of the Year – Proskauer Rose LLP and Gas City, Ltd.; Large Turnaround of the Year – Huron Consulting Group Inc. and JHT Holdings, Inc.; Small Turnaround of the Year – Lake Pointe Partners, LLC and Rotonics Manufacturing, Inc.; and Small Transaction of the Year – Mesirow Financial Consulting, LLC, Ungaretti & Harris and Fairview Ministries, Inc.

Turnaround of the Year honors the successful turnaround of a company and Transaction of the Year awards are presented to distressed financial transactions that, if not executed, would have most likely resulted in the failure of a business and lower recoveries to creditors. All winners will be publicly honored at the Chicago/Midwest TMA Executive Speakers Forum on November 28, 2012.

“Businesses and organizations are faced with uncertain times and a still-sluggish economic recovery. But opportunities do exist and turnaround managers bring a unique set of skills to deal with the issues and create value, as demonstrated by our winners,” said co-chair David Enghauser added.

Nominations are judged on a combination of characteristics of the issues involved, the actions taken by the corporate renewal/turnaround professionals, creativity in crafting solutions, overall outcome and results.

TMA Chicago/Midwest Chapter president Harold Israel congratulates each of the award winners on achieving extraordinary results in a very challenging business environment. The award presentation will take place prior to dinner at the Chicago/Midwest TMA’s Executive Speaker Forum on November 28 at the Hilton Chicago at which the Honorable Henry M. Paulson, Jr., Secretary of the Treasury and Geoffrey Colvin, FORTUNE senior editor-at-large will be keynoting. For more information, or to register to attend, please visit

For more details into Mesirow Financial Consulting’s Small Transaction of the Year award, stay tuned for ABF Journal’s Annual Turnaround Management issue, heading to subscribers in October.