In March 2008, Mr. Turoff became chief restructuring officer and a member of the board of directors of ATA Airlines, Inc., a wholly-owned subsidiary of Global Aero Logistics, Inc. ATA Airlines, Inc. filed for reorganization under chapter 11 of the US Bankruptcy Code on April 2, 2008, and ceased operations shortly thereafter. ATA Airlines was a low-cost carrier headquartered in Indianapolis, Indiana and was a diversified passenger airline operating in two principal business lines; a low cost carrier providing scheduled passenger service that leveraged a code share agreement with Southwest Airlines Co. and a charter operator that focused primarily on providing charter service to the U.S. government/military.

After less than a year, in March 2009, a plan was confirmed around a global settlement among all of the company’s former labor groups, the company’s major secured lender and the unsecured creditors’ committee. The plan provides for distributions to general unsecured creditors, distributions to labor groups estimated at more than 25 cents on the dollar of claim, and distributions to the major secured lender several times in excess of expectations.

Pursuant to the plan, the ATA Plan Trust was established to complete the liquidation of the assets of ATA Airlines, Inc. and to pursue litigation against Federal Express Corporation. Mr. Turoff was appointed Plan Trustee of the trust.

In October 2010, a jury verdict was rendered in favor of ATA Airlines, Inc. for $66 million plus pre-judgment interest. In December 2011, the United States Court of Appeals for the Seventh Circuit reversed the jury verdict.