Contact: John Hartgen
               (703) 739-0800
               [email protected]

ABI PUBLISHES BOOK ON CROSS-BORDER INSOLVENCY

December 19, 2008, Alexandria, Va. — The American Bankruptcy Institute released the Guide to Cross-border Insolvency in the United States to assist bankruptcy practitioners involved in international insolvency issues. The Guide addresses the history of the UNCITRAL Model Law on Cross-border Insolvency, which the United Nations Commission on International Trade Law adopted in 1997 after five years of nations. Thirteen nations have now adopted this law, which includes the United States’ adoption of chapter 15 as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

Authors Daniel M. Glosband of Goodwin Procter LLP (Boston) Bankruptcy Judge Burton Lifland (S.D.N.Y; New York), George M. Kelakos of Kelakos Advisors LLC (Greenwich, Conn.) and Josefina McEvoy of K&L Gates LLP  (Los Angeles) discuss chapter 15 and its provisions in detail, providing helpful insight to the practitioner. In addition, the authors discuss the U.S.’s international insolvency law before its adoption of chapter 15, and there is an extensive discussion of repealed §304 of the Bankruptcy Code, how it worked in practice and how chapter 15 is fundamentally different. The book also includes a comprehensive chart describing the treatment of cross-border insolvencies by each of almost 40 countries.

Members of the press interested in interviewing the authors should contact John Hartgen at 703-739-0800 or [email protected]. The 92-page softbound Guide is available for purchase ($25 ABI members; $45 non-members) at ABI's Online Bookstore. Click here to order. http://www.abiworld.org/abistore

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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 11,700 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.