Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that its highest award, ABI’s Lifetime Achievement Award, which recognizes the recipient’s sustained and deep commitment to the leadership and governance of the organization, has been renamed after William A. Brandt, founder of Development Specialists, Inc. (Chicago). ABI proclaimed on Dec. 9 during its Winter Leadership Conference in Palm Springs, Calif., that the award will now be called the Bill Brandt Lifetime Achievement Award.

An ABI member since 1987, Brandt served on ABI’s Board of Directors, was a commissioner on ABI’s Commission to Study the Reform of Chapter 11, and served on the Advisory Boards of ABI’s New York City Bankruptcy Conference and Bankruptcy Battleground West program. He is currently living and working with the rare condition of Amyotrophic Lateral Sclerosis (ALS), a nervous system disease that weakens muscles and impacts physical function.

Brandt has been in the business of workout, turnaround and insolvency consulting for 47 years and is widely recognized as one of the foremost practitioners in the field. He is President and CEO of Development Specialists, Inc. (DSI), a firm specializing in the provision of management, consulting and turnaround assistance to troubled or reorganizing enterprises. While his firm operates offices throughout the country, he lives and works in his native city of Chicago.

Brandt's political, legislative and civic endeavors have spanned almost four decades. He has continually advised Congress on matters of insolvency and bankruptcy policy, and in that capacity was the principal author of the amendment to the Bankruptcy Code permitting the election of trustees in chapter 11 cases. He also was involved in drafting several amendments to the Bankruptcy Code that were enacted into law in April 2005 as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which substantially rewrote the nation’s bankruptcy laws.

Brandt is a frequent writer, lecturer and speaker on topics of corporate restructuring, bankruptcy and related public policy issues, and is routinely featured as an expert appearing in a wide range of media outlets to discuss those topics.

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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 www.abi.org/events.