ABI Poll Companies Operating Under Chapter 11 Protection Enjoy an Unfair Competitive Advantage
ABI POLL: COMPANIES OPERATING UNDER CHAPTER 11 PROTECTION ENJOY AN UNFAIR COMPETITIVE ADVANTAGE
April 28, 2006, Alexandria, Va. — A majority of overall respondents (57 percent) to the most recent American Bankruptcy Institute (ABI) online poll agreed that companies operating under chapter 11 protection enjoy an unfair competitive advantage. The largest category of respondents, 31 percent, weighed in that they “somewhat agreed” that companies had an unfair advantage while operating under chapter 11 protection, while 26 percent “strongly agreed.”
Only 35 percent of the respondents did not agree that companies operating under chapter 11 protection had an unfair competitive advantage. Of the 35 percent, 19 percent “somewhat disagreed” that companies in chapter 11 had an unfair advantage, while 16 percent “disagreed strongly.” Eight percent of respondents did not have an opinion or did not know enough about the issue.
ABI membership and members of the public were welcome to submit their response to the statement “Companies operating under chapter 11 protection enjoy an unfair competitive advantage” for the recent poll that was open for voting from April 13 – April 27. The poll question is based on the recent high-profile bankruptcies of companies operating in highly competitive industries as the automotive, airline and steel industries.
The ABI Quick Poll is posted on ABI’s home page, www.abiworld.org. ABI members and the public are invited to respond to a question on a timely bankruptcy or insolvency issue.
Visit http://www.abiworld.net/quickpoll/ to access the results of previous ABI’s Quick Poll.
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 11,000 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.abiworld.org/conferences.html