VLC ASSOCIATES - Key Persons
Mr. Brian Hartford, Senior Associate, is based in Chicago, Illinois. An energetic professional, he has over 10 years' experience gained through hands-on advisory engagements, working with businesses to solve complex issues. His broad business consulting experience includes financial restructuring, turnaround management, performance improvement, valuation, buy- and sell-side transaction advisory, forensic and complex accounting services and sales and marketing campaign design, implementation and execution. He has worked across several industries including technology, healthcare, metals and mining, transportation, logistics, manufacturing, automotive, gaming, restaurants/hospitality, real estate, and food and beverage.
Mr. Hartford has invaluable experience working on engagements in distress, bankruptcy and special situations. His work in the turnaround and restructuring space includes advising the unsecured creditors committee in an airline industry Chapter 11 reorganization; advising a restaurant chain on financial viability and strategic value; and working with debtors to stave off liquidation for an engineering services firm.
Mr. Hartford has been a restructuring and valuation professional for Newpoint Advisors Corporation, American Appraisal Associates, LBD Partners and Huron Consulting Group. Additionally, he has held sales, marketing and business development positions with several technology start-ups, and founded, ran and sold a successful satellite television distribution company.
Mr. Hartford earned his degree in finance and accounting from DePaul University, holds a Certified Insolvency and Restructuring Advisor (CIRA) designation and is a Level III candidate for the Chartered Financial Analyst (CFA) designation. He is a member of the Turnaround Management Association (TMA) and the Association of Insolvency and Restructuring Advisors (AIRA).
Mr. Joseph R. Megna, Managing Director, has over 25 years of aviation and aerospace management and advisory experience. Mr. Megna possesses an extensive skill set gained while holding significant positions in direct line passenger and cargo operations management, financial planning and control, business integration and supply chain restructuring.
Mr. Megna has advised client companies engaged in court-supervised and out-of-court restructuring, managing payments and cash balances, negotiating major supplier contracts and leases, including cure proposals, and preparing and analyzing business plans. He has advised a number of airline clients in nearly every aspect of the business, with clients including US Airways, Air Canada, Northwest Airlines and Frontier Airlines.
Mr. Megna's experience includes product development, supply chain, cost reduction and restructuring. He has evaluated changes to product specifications and service flows, recommending actions which reduced cost and improved product, assessed flight schedule changes facility requirements, ground services and staffing, and has evaluated and negotiated contracts for lounge services, AVOD, catering, cabin services and premium amenities. He has developed cost allocation methodologies, supporting flight profitability and other activity-driven models, and has evaluated intercompany pricing programs by developing and utilizing benchmarks. He has identified and assessed apparent preferential payments, and recommended strategies to address.
Mr. Megna previously served in senior leadership positions in Operations and Financial Planning for 16 years at Continental Airlines. He holds an MBA from University of Texas and a B.B.A from University of Texas.
Job Titles:
- Managing Director
- Managing Director, Is
Mr. Mark A. Goodenow Jr., Managing Director, is a finance and operations executive with a sixteen-year track-record of successful business transformations and improved financial performance. His practice area focuses on developing sustainable financial improvements for airline operators and MROs through supply-chain transformation, operations reengineering, and revenue enhancement. He has advised buyers and sellers in numerous acquisitions, and routinely advises private equity groups on operations improvements.
Mr. Goodenow's restructuring experience includes working on some of the largest global bankruptcies, including CHC Helicopters, ATA Airlines, New Century Financial, Freidman's Jewelers, and TOUSA. He has represented numerous Debtors, Unsecured Creditors' Committees and Special Committees in Bankruptcy proceedings including Borders Books & Music and Delta Airlines.
Mr. Goodenow has advised airlines in the role of consultant, interim director, and interim vice president. Mr. Goodenow has also led numerous bankruptcy-related litigation support projects, and was a senior leader with the bankruptcy and restructuring practices of Deloitte Consulting, Kroll Zolfo Cooper and BDO Consulting.
Mr. Goodenow holds a B.S. from Oakland University.
Job Titles:
- Senior Managing Director
- Retired Partner of Skadden Arps
Ms. Ann Pollock, Senior Managing Director, is based in Chicago, Illinois. A proven expert, she has over 30 years of experience as a legal consultant and aircraft financial advisor. Ms. Pollock has negotiated settlements of aircraft-related contractual disputes and has structured and negotiated the acquisition, leading and disposition of dozens of aircraft.
Ms. Pollock's industry expertise includes extensive negotiation experience, including aircraft refurbishment contracts, lease terminations, aircraft leases, financings and acquisitions in the U.S. and more than two dozen foreign jurisdictions. She has represented airlines, lessors and lenders. In addition, she has restructured billions of dollars of leased and owned aircraft in Chapter 11 proceedings, including US Airways and CIT; and negotiated fleet acquisitions from Airbus for US Airways and South African Airways.
Ms. Pollock is a retired partner of Skadden Arps. She holds a J.D. from Harvard Law School and a B.A. from Yale University.
Job Titles:
- Founder
- Senior Managing Director
- Founder and Senior Managing Director of VLC Associates Ltd
Victoria L. Creason, Founder and Senior Managing Director of VLC Associates Ltd., is based in Chicago, IL and New York, NY. A seasoned and dynamic financial executive, Ms. Creason has over 30 years of global experience gained through hands-on financial and operational experience and consulting for the world's leading strategy and turnaround firms. She has advised companies, secured lenders, debtors and unsecured creditors with strategic planning, cost optimization, financial and liquidity management, capital structure, M&A strategies and supply chain management.
Ms. Creason has provided advisory and turnaround support across industries including aviation and transportation, consumer products, manufacturing, automotive and industrial capital goods. She has identified and led business transformation initiatives for small, mid- and large sized global organizations. Ms. Creason's advisory experience includes both in-court and out-of-court strategies under the U.S. Bankruptcy Code and Canadian CCAA.
Ms. Creason served as Chief Financial Officer for Serta mattress, in addition to other interim CEO and CFO roles where she had overall fiduciary responsibilities, including being a member of the Board of Directors. Ms. Creason also held senior financial management positions at Continental Airlines.
Ms. Creason is a CPA and holds a B.S. from Illinois State University and an MBA from St. Louis University. She is an active member in the Turnaround Management Association and American Bankruptcy Institute.