Retail Bankruptcies, Small Business Subchapter Vs, Student Loans, Mass Torts and More to Be Discussed at ABI’S 2023 Central States Bankruptcy Workshop
Alexandria, Va. — The American Bankruptcy Institute’s (ABI) 2023 Central States Bankruptcy Workshop, being held June 8-10 at the Grand Traverse Resort & Spa in beautiful Traverse City, Mich., is celebrating its 30th anniversary of the program, which is geared toward insolvency practitioners in the Upper Midwest region. Bringing a flexible workshop format for both consumer and business practitioners, the Workshop’s repeating sessions allow attendees to customize their personal learning experience while earning up to 8.25/9.5 hours of CLE/CPE, including 2.75/3 hours of ethics. A special judicial roundtable session will feature eight bankruptcy judges representing Indiana, Illinois, Minnesota, Michigan, Ohio and Wisconsin.
Plenary sessions at the Central States Bankruptcy Workshop include:
· Circuit Splits & Hot Topics with Bill Rochelle
· Judicial Roundtables: Problems, Problems, Problems
Sessions on the Workshop’s Business Track include:
- Subchapter V: What We Know and Don’t Know After Three Years
- Fallout from the Wild, Wild West
- Retail Cases from Coast to Coast: What Can Unsecured Creditors Expect to See?
- Bankruptcy Alternatives and High Times
- Mass Torts and the Texas Two-Step
- Recent Issues with Fraudulent Transfers and Preferences
Sessions on the Workshop’s Consumer Track include:
· Chapter 7 and Chapter 13 Conversions
· Property of the Estate
· Student Loans
· Avoidance Actions
Sessions on the Workshop’s Skills Track include:
· Trial Skills: Valuation Hearings
· Mediation and Risk Analysis
Tracy M. Clark of Steinberg Shapiro Clark (Southfield, Mich.) and Elizabeth B. Vandesteeg of Levenfeld Pearlstein, LLC (Chicago) are the Workshop’s co-chairs. Bankruptcy Judges James W. Boyd (W.D. Mich.; Grand Rapids) and Catherine J. Furay (W.D. Wis.; Madison) are the judicial co-chairs for the Workshop.
To view the full list of expert speakers, and for more information on attending ABI’s Central States Bankruptcy Workshop, please click here. Members of the press interested in attending the Workshop should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or [email protected].
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
David Wender of Eversheds Sutherland Elected to ABI's Board of Directors
Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that David Wender of Eversheds Sutherland (Atlanta) has been elected to ABI’s Board of Directors. An ABI member since 2003, Wender has served on the advisory board of ABI’s Southeast Bankruptcy Workshop and has written and spoken on key bankruptcy topics. He will serve a term of three years on the 60-member ABI Board of Directors.
Wender serves as Eversheds Sutherland's (U.S.) Head of Corporate Debt Advisory – Financial Restructuring Group. He represents bank and nonbank lenders in structuring, negotiating and documenting multifaceted secured and unsecured loan transactions across industries. Wender's experience extends to traditional corporation financing/refinancing, acquisition financing, intercreditor and inter-lender agreements, and restructurings. His practice also includes representing a broad range of clients in complex bankruptcy cases, out-of-court workouts, debt restructurings, asset dispositions and claims-reconciliation procedures. Wender represents purchasers, sellers and other parties in bankruptcy Section 363 sales, debtors in possession, secured and unsecured creditors and creditors’ committees. In addition to being recognized by several leading legal service rankings, he was inducted as a Fellow in the American College of Bankruptcy in 2022.
The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Evelyn Meltzer of Troutman Pepper Hamilton Sanders Named ABI "Committee Member of the Year," Will Serve on ABI's Board of Directors
Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Evelyn Meltzer of Troutman Pepper Hamilton Sanders (Wilmington, Del.) received ABI’s 2023 “Committee Member of the Year” award and was named to ABI’s Board of Directors. An ABI member since 2004, Meltzer co-chairs ABI’s International Committee, previously co-chaired ABI’s Asset Sales Committee, served on the advisory board of ABI’s Central States Bankruptcy Workshop, and has written and spoken on key bankruptcy issues. She will serve the remainder of a Board term created by Hon. Michael A. Fagone (U.S. Bankruptcy Court (D. Me.); Bangor), who is stepping away from the Board due to professional obligations. After 2024, Meltzer will be eligible for election to serve a full three-year term on the 60-member ABI Board of Directors.
For her efforts in spearheading the launch of the ABI International Committee’s new "International Matter of the Year" award last year, Meltzer was honored as "ABI's Committee Member of the Year," and ABI's International Committee was recognized as ABI's "Committee of the Year,” at ABI’s Annual Spring Meeting, held in Washington, D.C., April 20-22.
As a partner at Troutman Pepper Hamilton Sanders, Meltzer focuses her practice on distressed M&A, corporate bankruptcy and creditors’ rights. With more than 20 years of experience, she regularly represents sellers and purchasers in distressed M&A transactions, including Article 9 sales, asset sales conducted as part of assignments for the benefit of creditors (ABC), and sales conducted pursuant to Section 363 of the Bankruptcy Code. Additionally, Meltzer has significant experience guiding corporate debtors, creditors’ committees, secured and unsecured creditors, and others through all aspects of complex chapter 11 and chapter 7 proceedings. She also represents companies and assignees in connection with Delaware assignment for the benefit of creditors (ABC) proceedings in the Delaware Chancery Court. Her bankruptcy practice has been recognized in Chambers USA: America’s Leading Lawyers for Business and Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers. She is AV-Rated for Ethical Standards and Legal Ability by Martindale-Hubbell®. In addition to Meltzer's involvement in ABI, she also served as the finance director for the International Women’s Insolvency & Restructuring Confederation and as co-chair of the Delaware State Bar Association Bankruptcy Section’s Legislative Committee.
The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Kristina Stanger of Nyemaster Goode Named to ABI's Board of Directors
Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Kristina Stanger of Nyemaster Goode (Des Moines, Iowa) has been named to ABI’s Board of Directors. An ABI member since 2012, Stanger serves as the co-chair of the ABI Veteran's Task Force Legislation Committee, has served as a program chair of ABI’s Midwestern Bankruptcy Institute program, and has served on ABI’s “40 Under 40” Steering Committee, an honor she herself received when she was selected for the 2018 class. She will serve the remainder of a term created by James Van Horn of Barnes & Thornburg LLP (Washington, D.C.), who is stepping away from the Board due to professional obligations. After 2025, Stanger will be eligible for election to serve a full three-year term on the 60-member ABI Board of Directors.
Stanger is an attorney and shareholder at Iowa’s largest law firm, Nyemaster Goode, P.C., and focuses her practice on creditors’ rights and bankruptcy. Her experience spans such industries as retail, grocery, agriculture, health care, construction, transportation and manufacturing. Stanger appears in both federal and state courts for secured and unsecured creditors in a variety of contexts. In addition to her legal practice, Stanger is a combat-experienced Lieutenant Colonel in the Iowa Army National Guard and a 2017 AMEDD Iron Major. She has served more than 20 years as an enlisted soldier, commander and planner for state, national and international operations. Stanger now serves as one of the state of Iowa’s highest-ranking females and is the Battalion Commander for the 109th Medical Battalion for the Iowa Army National Guard. In addition, she has held a number of committee positions with the Iowa State Bar Association, is an author and speaker on bankruptcy and commercial law topics, and provides pro bono services on behalf of veterans and their families. She is also married to a retired and disabled Cavalry Scout, who wrangles their three school-aged children by day.
The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
ABI Announces Subchapter V Task Force to Examine Small Business Reorganizations Since Subchapter's Enactment
Alexandria, Va.— The American Bankruptcy Institute today announced the creation of a Subchapter V Task Force to study and evaluate small business reorganizations under subchapter V of chapter 11 of the Bankruptcy Code, which went into effect on February 19, 2020. The nine-member expert panel will examine case law and statistical data under subchapter V since its enactment through the present. This study will consider, among other things, how the subchapter is working in practice and whether it is achieving certain underlying objectives, such as assisting debtors and creditors in resolving the reorganization cases of small- and medium-sized businesses more effectively and efficiently, and what improvements it might need. The Task Force intends to solicit input about subchapter V from the public via hearings and its forthcoming website, culminating in a final report to be delivered in early April 2024.
The concept of subchapter V started as one of the centerpiece recommendations of ABI’s Commission to Study the Reform of Chapter 11, which published its final report and recommendations in 2014. It was formalized in the Code by the enactment of “The Small Business Reorganization Act of 2019” (SBRA), which went into effect on February 19, 2020, to provide Main Street business debtors with a more streamlined path for restructuring their debts. The eligibility limit for small businesses looking to elect to file under SBRA's subchapter V was originally $2,725,625 of debt, but the threshold was increased to $7,500,000 with the enactment of the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act; P.L. 116-136) on March 27, 2020, in response to the economic distress caused by the COVID-19 coronavirus pandemic. The increased debt limit received two subsequent extensions that were signed into law, but the last extension is due to sunset on June 21, 2024.
In the first three years that subchapter V was available (through February 18, 2023), there have been 4,571 subchapter V cases filed, according to an initial analysis by the Task Force. Small business and subchapter V cases have comprised nearly one-third of chapter 11 filings during this period (5,689 out of 17,493). Since the debt-eligibility limits were increased by the CARES Act in March 2020, about 30 percent of the subchapter V cases filed have been over the original debt limit. Based on the cases completed so far, the higher-liability subchapter V cases are more likely to result in confirmation or conversion (as opposed to dismissal) than the lower-liability cases.
The Task Force is co-chaired by Hon. Michelle M. Harner of the U.S. Bankruptcy Court for the District of Maryland (Baltimore) and Megan W. Murray of Underwood Murray, PA (Tampa, Fla.). Other members of the Task Force include Hon. Paul W. Bonapfel of the U.S. Bankruptcy Court for the Northern District of Georgia (Atlanta), Past ABI President Robert J. Keach of Bernstein Shur (Portland, Maine), Jolene E. Wee of JW Infinity Consulting, LLC (New York), Donald L. Swanson of Koley Jessen (Omaha, Neb.) and Elizabeth M. Lally of Spencer Fane LLP (Omaha, Neb.). Prof. Alexandra Everhart Sickler of the University of North Dakota School of Law (Grand Forks, N.D.) will serve as the official reporter for the Task Force. In addition, Daniel J. Casamatta of the Office of the U.S. Trustee (Kansas City, Mo.) will be the U.S. Trustee ex officio member.
The first organizing meeting of the Subchapter V Task Force took place immediately prior to ABI’s Annual Spring Meeting, held in Washington, D.C., April 20-22. Announcements of future meetings, the forthcoming launch of the Task Force website, and other activities and information will be provided by ABI. Later this month, the Task Force will make active its website and social media account, so that interested persons can learn more about the Commission’s work. The final report of the Subchapter V Task Force will be released at ABI’s 2024 Annual Spring Meeting in April 2024 in Washington, D.C.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Hon. Sage Sigler Elected to ABI's Board of Directors
Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Hon. Sage Sigler (U.S. Bankruptcy Court (N.D. Ga.); Atlanta) has been elected to ABI’s Board of Directors. An ABI member since 2010, Judge Sigler serves on ABI’s Southeast Bankruptcy Workshop Advisory Board, was on the steering committee for ABI’s “40 Under 40” Program (having also been an honoree herself of the Program’s inaugural class in 2017), served on ABI’s Legislation Committee, and has written and spoken on key bankruptcy issues. She also is a volunteer presenter for the Credit Abuse Resistance Education (CARE) program. Judge Sigler will serve a term of three years on the 60-member ABI Board of Directors.
Judge Sigler was appointed to the U.S. Bankruptcy Court for the Northern District of Georgia in Atlanta in March 2018. She succeeded Hon. Mary Grace Diehl, for whom she clerked after graduating from law school. Prior to her appointment to the bench, Judge Sigler was a partner in Alston & Bird LLP’s Bankruptcy Group. She is an active member of ABI, IWIRC, TMA and the Bankruptcy Section of the Atlanta Bar Association. She received her B.A. in political science from the University of Florida in 2001 and her J.D. in 2006 from Emory University School of Law, where she was a member of the executive board of the Emory Bankruptcy Developments Journal.
The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Allen Kadish of Archer & Greiner Elected to ABI's Board of Directors
Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Allen Kadish of Archer & Greiner (New York) has been elected to ABI’s Board of Directors. An ABI member since 2003, Kadish is a member of ABI’s Diversity Working Group and the Working Group’s Mentorship Program, served on ABI’s “40 Under 40” Steering Committee, and has spoken and written about key bankruptcy issues. He will serve a term of three years on the 60-member ABI Board of Directors.
Kadish is a partner at Archer & Greiner, where he focuses his practice in the areas of corporate crisis management, complex transactions, chapter 11 restructurings, workouts, creditors’ rights, business law and business litigation. His clients include distressed and non-distressed businesses in transition, corporate borrowers in debt transactions, debtors, creditors, lenders, vendors, fiduciaries, purchasers, investors, committees, professionals and others both in and out of court. Kadish represents parties involved with reorganization and restructuring issues in a wide range of industries, including airline, arts and entertainment, automotive, communications, construction, e-commerce, electronics, energy, environmental, fashion, financial services, food and beverage, gaming, health care, investment capital, jewelry, manufacturing, media, oil and gas services, real estate, retail, sports, technology and transportation. He is a qualified mediator, certified by the American Bankruptcy Institute/St. John’s University School of Law, and he is an approved mediator for the U.S. Bankruptcy Courts for the Southern and Eastern Districts of New York.
The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Matthew Faga of Markus Williams Young & Hunsicker Elected to ABI's Board of Directors
Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Matthew Faga of Markus Williams Young & Hunsicker (Denver) has been elected to ABI’s Board of Directors. An ABI member since 2010 and a member of the inaugural 2017 class of ABI’s “40 Under 40” program, Faga is the co-chair of ABI’s Rocky Mountain Bankruptcy Conference, has served as co-chair of ABI’s Emerging Industries and Technology Committee, and has spoken and written about key bankruptcy issues. He will serve a term of three years on the 60-member ABI Board of Directors.
Faga is a partner and member of Markus Williams Young & Hunsicker and concentrates his practice on commercial restructuring, dissolution, pre-bankruptcy workouts, bankruptcy and insolvency law, with a focus on strategic resolutions of client matters. He represents all key stakeholders, including corporate debtors and debtors-in-possession, secured and unsecured creditors, trustees, purchasers and fiduciaries in adversary proceedings and throughout bankruptcy chapters 7, 11, 12, 13 and 15. Faga also represents federal and state court-appointed asset and entity receivers in receivership actions, workouts and restructurings in Colorado and Wyoming. In addition, he has significant appellate experience in oral advocacy and brief-writing at both the state and federal court levels. Faga serves as chair or director on various boards, and regularly teaches as an adjunct professor at the University of Denver Sturm College of Law. He is certified in Business Bankruptcy Law by the American Board of Certification.
The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Small Business Subchapter V’s Increase 81 Percent Year-Over-Year
Small business filings, captured as subchapter V elections within chapter 11, increased 81 percent to 157 in April 2023 from 87 in April 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. All chapter 11 filings increased 32 percent in April 2023 to 277 from the 210 filings in April 2022. Overall commercial filings increased slightly in April 2023 to 1,820 from 1,785 in April 2022.
The 35,479 total U.S. bankruptcy filings in April 2023 were a nine percent increase from the April 2022 total of 32,530. Individual bankruptcy filings were 33,659 in April 2023, registering a 10 percent increase from the April 2022 individual total of 30,745. The number of individuals filing for chapter 13 increased 14 percent to 13,404 in April 2023 from the 11,730 chapter 13 filings in April 2022.
The substantial year-over-year increase in subchapter V elections reflects statutory developments that took place last year. The $7.5 million debt eligibility limit established by the CARES Act of 2020 (and renewed annually by subsequent laws) sunset in late March 2022 back to the $2,725,625 level established by the "Small Business Reorganization Act of 2019," which led to a drop in subchapter V elections in April and May 2022.
The "Bankruptcy Threshold Adjustment and Technical Corrections Act" was quickly enacted in June 2022 to restore the debt eligibility limit for small businesses back to $7.5 million while also increasing the debt limit for individual chapter 13 filings to $2.75 million and removing the distinction between secured and unsecured debt for that calculation. The increased eligibility limits for both subchapter V and chapter 13 are currently set to sunset on June 21, 2024. ABI has formed a Subchapter V Task Force to study small business reorganizations and make recommendations in a report to be released in April 2024.
“As small businesses employ millions of Americans and individual spending is a key driver of our economy, maintaining an established path to reorganizing debts in bankruptcy is key,” said ABI Executive Director Amy Quackenboss. “I look forward to the work of ABI’s Subchapter V Task Force in identifying ways we can improve eligibility for a financial fresh start for businesses and individuals.”
April’s total bankruptcy filings represented decreases in all filing categories from the previous month. Total filings were down nine percent when compared to the 39,056 total filings recorded the previous month. Total individual filings for April also represented a ten percent decrease from the March 2023 individual filing total of 36,881. The commercial filing total represented a 16 percent drop from the March 2023 commercial filing total of 1820. All chapter 11 filings decreased 28 percent from the 434 filings recorded in March 2023. Subchapter V elections within chapter 11 decreased 5 percent from 165 the previous month, and individual chapter 13 filings decreased seven percent from the 14,403 filings reported in March 2023.
For the first time since April and May of 2019 there were back-to-back months with more new cases filed than cases closed per month. In April 2023, 3,861 more cases opened than closed and in March, 4,540 more opened.
“We have also been tracking the monthly number of new cases versus closed cases trend closely as another indicator on where the new filing market is heading,” said Gregg Morin, Vice President of Business Development and Revenue for Epiq Bankruptcy. “The last time there were four consecutive months in a row of more new cases was back in early 2012 and the last time there was an annual positive delta was 2010.”
ABI has partnered with Epiq Bankruptcy to provide the most current bankruptcy filing data for analysts, researchers, and members of the news media. Epiq Bankruptcy is the leading provider of data, technology, and services for companies operating in the business of bankruptcy. Its new Bankruptcy Analytics subscription service provides on-demand access to the industry’s most dynamic bankruptcy data, updated daily. Learn more at https://bankruptcy.epiqglobal.com/analytics.
About Epiq
Epiq, a global technology-enabled services leader to the legal industry and corporations, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action, and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.
About ABI
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
ABI Releases Third Edition of ABI Preference Handbook
Alexandria, Va. — The American Bankruptcy Institute has just released the latest edition of its ABI Preference Handbook. This is a major update to the Second Edition, published in 2008, and was a collaborative effort by members of ABI’s Unsecured Trade Creditors Committee. The creative team that helped co-author the Third Edition included Eric S. Chafetz of Lowenstein Sandler LLP (Westfield, N.J.), Lindsay Zahradka Milne of Bernstein Shur (Portland, Maine), Gianfranco Finizio of Kilpatrick Townsend & Stockton LLP (New York), Jarret P. Hitchings of Bryan Cave Leighton Paisner LLP (Charlotte, N.C.), Lauren Dorsett of Davis Wright Tremaine LLP (Seattle) and Eric J. Monzo of Morris James LLP (Wilmington, Del.).
As the authors note in their introduction, “Any company extending unsecured trade credit to its customers is likely, at some point in its business life, to face preference demands and lawsuits under the Bankruptcy Code.” This update not only explains why preference claims play such an important role in bankruptcy, but also why addressing them properly can help all creditors receive fair and equal treatment. The new book, which debuted at ABI’s Annual Spring Meeting last week, is an important addition to several other preference-related publications in ABI’s library: Preference Defense Handbook: The Circuits Compared (Third Edition) and Understanding Ordinary: A Primer on Financial and Economic Considerations for the Ordinary Course Defenses to Bankruptcy Preference Actions (Second Edition).
The softbound Handbook is available for $55 for ABI members and $69.95 for non-members at the ABI Bookstore (https://store.abi.org).
Members of the press interested in interviewing any of the co-authors should contact John Hartgen at 703-894-5935 or [email protected].
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.