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Reclamation Rights Under BAPCPA Now Exclusively a Matter of Federal Law According to New ABI Poll

Contact: John Hartgen
             (703) 739-0800
             jhartgen@abiworld.org

 

RECLAMATION RIGHTS UNDER BAPCPA NOW EXCLUSIVELY A MATTER OF FEDERAL LAW, ACCORDING TO NEW ABI POLL

November 7, 2006, Alexandria, Va. — Forty-four percent of respondents in a recent American Bankruptcy Institute online poll agreed that the right of reclamation under §546(c) is now exclusively a matter of federal law, rather than a combination of federal and state law as it was prior to the implementation of the new bankruptcy law. Twenty-six percent of respondents “strongly agreed” and another 18 percent “agreed somewhat” that reclamation rights are now exclusive to federal law under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).

Thirty-two percent disagreed that the right of reclamation under BAPCPA is now exclusive to federal law, rather than its previous standing as a combination of federal and state law. Twenty-seven percent of respondents “strongly disagreed,” while 5 percent “somewhat disagreed” that reclamation rights were exclusive to federal law under BAPCPA. Twenty-four percent did not know or had no opinion on the issue.

ABI members and members of the public were welcome to submit their response to the statement: “After BAPCPA, the right of reclamation under §546(c) is now an exclusive matter of federal law, rather than a combination of federal and state law.” The latest ABI Quick Poll that was open for voting from Oct. 20-Nov. 1.

ABI’s weekly 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.

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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 more than 11,500 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.