April 16, 2012, Alexandria, Va.— A majority of respondents in a recent ABI Quick Poll did not agree that “liquidating chapter 11 plans” should be prohibited and that conversion to chapter 7 should be the only option for a business case to end in liquidation. Seventy percent did not think (63 percent “strongly” and 7 percent “somewhat”) that chapter 7 should be the only option for businesses looking to end their case in liquidation. Companies often use chapter 11 to liquidate their assets because management remains in place during the bankruptcy process, and some experts argue that this process results in a more orderly liquidation that increases the ultimate return to creditors. Other experts argue in favor of using chapter 7 to liquidate instead, in which case a business ceases operations and is liquidated by a court-appointed chapter 7 trustee. Conversely, 25 percent of the respondents (12 percent “strongly” and 13 percent “somewhat”) thought that the only option for businesses looking to liquidate should be through chapter 7 of the Bankruptcy Code. Four percent did not know or had no opinion on the Quick Poll. ABI’s 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 Quick Polls.