ABI Endowment to Fund Study of Why Individuals Choose to File for Chapter 11
Alexandria, Va. — The American Bankruptcy Institute (ABI) Anthony H.N. Schnelling Endowment Fund recently commissioned an empirical study to examine how and why individuals decide between chapter 11 and chapter 13 when filing for bankruptcy. The "ABI Individual Chapter 11 Study" is going to explore the reasons behind individuals filing for bankruptcy under chapter 11, which is generally more expensive and more complicated than filing under chapter 13. Individuals whose debts exceed the limits set in chapter 13 are frequently left to use chapter 11 today. "One key issue we will explore is how we can make a statute written for corporations work better for the increasing number of individuals who need to file bankruptcy under chapter 11," said Prof. Margaret Howard of Washington and Lee University School of Law (Lexington, Va.), who was selected to be the Reporter for the study. Prof. Howard was ABI’s Scholar-in-Residence in 2002, and previously held a three-year term as ABI Vice President-Research Grants in addition to being part of ABI's board of Directors. Theodore Eisenberg of Cornell Law School (Ithaca, N.Y.) has been selected as the principal investigator for the study. ABI President Patricia Redmond of Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA (Miami) has selected David P. Leibowitz of Lakelaw (Waukegan, Ill.) and C.R. "Chip" Bowles (Bingham Greenebaum Doll; Louisville, Ky.) to be the co-chairs for this study. Leibowitz and Bowles are in the process of finalizing both an academic advisory panel and a judges/attorneys panel to provide feedback on the study's design. The study will seek to determine best practices for how to handle individual chapter 11 cases. Created in 1989, the ABI Endowment Fund provides a secure financial base for insolvency research and education. Projects eligible for funding include research relating to bankruptcy or insolvency; surveys or other analytical investigation; the education of judges, court personnel, other governmental personnel and the general public; scholarships or other educational grants; and any other projects with a material research or educational benefit to the bankruptcy and insolvency community. More than $1.8 million in grants and scholarships has been awarded. ### 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 13,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional conference information, visit http://www.abiworld.org/conferences.html.
Monday, December 16, 2013