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Pharmaceutical Cases, Intersection of IP and Bankruptcy, SBRA, Real Estate Cases and More to Be Discussed at ABI's 2020 Annual Spring Meeting in Apri

Alexandria, Va. -- The American Bankruptcy Institute's (ABI) 2020 Annual Spring Meeting returns to the JW Marriott in Washington, D.C., April 23-25. ABI’s largest annual conference features timely concurrent sessions tailored for commercial and consumer practitioners. A special edition of the popular “ABI Talks” session kicks off this year’s program with presentations from G. Eric Brunstad of Dechert Llp (Hartford, Conn.), Hon. Steven W. Rhodes (Ret.) of JAMS (Ann Arbor, Mich.) and Cate Long of the Puerto Rico Clearinghouse (New York). A special plenary session on April 24 features restructuring twins and ABI members Demetra Liggins and Bemetra Simmons as they show attendees how to step up their “A-Game” through mentoring and being mentored. Former ABI Executive Director Samuel J. Gerdano will be honored at this year’s conference with a special luncheon showcasing his three decades of service. Up to 12.5/15.5 hours of CLE/CPE credit are available, along with ethics credit totaling 2.25/2.5 hours.

Sessions at the 2020 Annual Spring Meeting include:

  • “Too Many Hats”: The Peculiar Problems and Challenges When an Equity Sponsor/Secured Lender Is Also a DIP Lender and Stalking-Horse Buyer in a Chapter 11 Case
  • Is It or Is It Not Property of the Estate? Section 541 Conundrums
  • Supreme Court Update and Circuit Splits on Consumer Issues
  • Peace Bridge, or Bridge of Sighs? Cross-Border Mediation of Insolvency-Related Disputes
  • Opportunities and Challenges Associated with Early-in-the-Case § 363 Sales
  • Witness Preparation: A Roundtable Discussion
  • Consumer Commission Report Top 10 Wish List
  • Special Issues in Real Estate Bankruptcy Cases
  • Be Careful What You Ask For: Risks and Benefits of Involuntary Bankruptcy Filings
  • Current Issues Facing Creditors’ Committees
  • Technology and Ethics: Protecting Your Sale Process, Your Online Presence — and Your Hide
  • Great Debates 2.0
  • Advanced Issues on Cash-Flow Projections in Restructuring Cases
  • Advanced Chapter 13 Topics
  • Litigating Against Directors and Officers in Bankruptcy
  • The New Small Business Reorganization Act: How It Works and the Types of Debtors that Will Benefit from It
  • The Intersection of Intellectual Property Rights and Bankruptcy: How to Protect Your Intangible Assets in Bankruptcy Cases
  • A Few Good Lawyers: Best Behavior, Use of Technology and Other Taboos — A Discussion by ABC Judges
  • Hot Topics with Bill Rochelle
  • In and Outs of RESPA
  • Anatomy of a Pharmaceutical Case
  • Do This, Not That: Ethics Roundtable
  • Claims Traders: Sharks or Saints?
  • “But I Am Afraid of Needles”: Fearlessly Navigating the Sale of Health Care Assets

For the full schedule with the speakers for each session at ABI’s Annual Spring Meeting, please click here.

Press interested in attending the conference should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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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 11,000 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.abi.org/calendar-of-events.

 

New ABI Website Provides Practitioners and Small Businesses with Resources to Help Navigate the New Small Business Reorganization Act

Alexandria, Va. — As the Small Business Reorganization Act of 2019 (SBRA) takes effect on February 19, ABI launched the "SBRA Resources" website to help practitioners and struggling small businesses learn about the new law and stay updated on SBRA developments. The site features information on ABI events on the new law, FAQs about SBRA, an infographic, the legislative history of SBRA, informative videos of ABI presentations on SBRA, updated news and commentary, articles from the ABI Journal, ABI committee newsletters and more.

The SBRA adds new subchapter V to chapter 11 of the Bankruptcy Code, providing a better path for small businesses to successfully restructure, reduce liquidations, save jobs and increase recoveries to creditors, while recognizing the value provided by entrepreneurs. It adopts the current definition of a “small business debtor” as a person in commercial or business activity with aggregate or noncontingent liquidated secured and unsecured debts as of its bankruptcy filing date of not more than $2,725,625. It is estimated that about half the chapter 11 cases filed today could qualify for subchapter V treatment. SBRA was signed into law on August 23, 2019, by President Trump and takes effect on February 19.

“The SBRA Resources site is an invaluable resource for practitioners and struggling small businesses looking to stay current on developments related to restructuring under the new law,” said ABI Executive Director Amy Quackenboss.

Visit and bookmark the SBRA Resources website by clicking here.

 

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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 11,000 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.abi.org/calendar-of-events

Lessons Learned from the PG&E Case, Sales of Health Care Entities in Bankruptcy and More to Be Discussed at ABI’s Bankruptcy Battleground West Conference on March 18

Alexandria, Va. — More than 150 practitioners are expected to attend the American Bankruptcy Institute’s (ABI’s) Bankruptcy Battleground West conference on March 18, at the Montage Beverly Hills in Beverly Hills, Calif. The day-long conference will examine circuit court splits, sales of health care entities in bankruptcy, lessons learned from the PG&E case and more. Dr. Jerry Nickelsburg of the UCLA Anderson School of Management (Los Angeles) will provide a keynote to examine whether 2020 is going to mark the end of the longest expansion in U.S. post-WWII history, what sectors will be hit the hardest, and whether it will be a mild recession. Attendees have the opportunity to earn up to 6.25/7.5 hours of CLE/CPE credit. Conference co-chairs are Kyra E. Andrassy of Smiley Wang-Ekvall, LLP (Costa Mesa, Calif.) and Randye B. Soref of Polsinelli LLP (Los Angeles). The judicial chair for the conference is Bankruptcy Judge Deborah J. Saltzman (C.D. Cal.; Los Angeles).

Sessions include:

  • The Great Divide: Overview of Circuit Splits on Current Issues
  • How State LLC and Partnership Acts May Limit the Estate’s Rights to Manage, Control and Sell
  • Intellectual Property and the Entertainment Industry: Tempnology and Beyond
  • Sales of Health Care Entities in Bankruptcy
  • Lessons Learned from PG&E
  • Bankruptcy "Crossfire"

To view the full roster of conference sessions and speakers, please click here.

Members of the press looking to attend the conference should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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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 11,000 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.

 

 

 

January Commercial Chapter 11 Filings Increase 72 Percent From Last Year, Total Commercial Filings Up 18 Percent

Alexandria, Va. Total commercial chapter 11 filings in January 2020 increased 72 percent over the same period last year, according to data provided by Epiq Systems, Inc. The 630 commercial chapter 11 filings in January 2020 were up from the 366 commercial chapter 11 filings reported in January 2019. Total commercial filings were 3,500 in January 2020, representing an 18 percent increase from the 2,961 business filings recorded in January 2019. Total bankruptcy filings increased 1 percent to 58,126 in January 2020 from the 57,657 filed in January 2019. Consumer filings decreased slightly in January 2020 to 54,626 from the January 2019 consumer filing total of 54,696.

“Debt-burdened businesses and consumers facing tighter lending standards, marketplace challenges and high filing costs need the shelter of bankruptcy's fresh financial start,” said ABI Executive Director Amy Quackenboss. “The Small Business Reorganization Act takes effect on February 19 to provide a better path for Main Street debtors to restructure their debts. Also, the final recommendations of ABI’s Commission on Consumer Bankruptcy provide a blueprint for the courts, Congress and other stakeholders to modernize the Code for consumers wrestling with heavy debt loads.”

To help practitioners and struggling small businesses prepare for the significant changes that the Small Business Reorganization Act of 2019 will make to the Code once effective on Feb. 19, ABI is holding a special webinar on February 11 with a panel of experts who will identify key provisions to be aware of within the new law. Register for free by clicking here: https://www.abi.org/events/whats-the-last-word-on-sbra.

The 630 January 2020 commercial chapter 11 filings were a 61 percent increase over the 391 commercial chapter 11s filed in December 2019. The 3,500 commercial filings in January 2020 were 21 percent more than the 2,895 commercial filings registered in December 2019. Total U.S. bankruptcy filings increased 10 percent in January 2020 from the 53,053 total filings in December 2019. Additionally, consumer filings increased 9 percent in January 2020 to 54,626 from the December 2019 noncommercial filing total of 50,158.

The average nationwide per capita bankruptcy-filing rate in January 2020 was 2.25 (total filings per 1,000 per population), a slight decrease from December 2019’s rate of 2.43. Average total filings per day in January 2020 were 2,768, a 1 percent increase from the 2,746 total daily filings recorded in January 2019. States with the highest per capita filing rates (total filings per 1,000 population) in January 2020 were:

1. Alabama (5.49)

2. Tennessee (5.20)

3. Georgia (4.60)

4. Mississippi (4.22)

5. Arkansas (3.61)

ABI has partnered with Epiq Systems, Inc. in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq Systems is a leading provider of managed technology for the global legal profession. 

For further information about the statistics or additional requests, please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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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 11,000 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.abi.org.

Epiq Systems is a leading provider of managed technology for the global legal profession. Epiq Systems offers innovative technology solutions for electronic discovery, document review, legal notification, claims administration and controlled disbursement of funds. Epiq System’s clients include leading law firms, corporate legal departments, bankruptcy trustees, government agencies, mortgage processors, financial institutions, and other professional advisors who require innovative technology, responsive service and deep subject-matter expertise. For more information on Epiq Systems, Inc., please visit http://www.epiqsystems.com.

 

ABI Health Care Program to Tackle Industry Consolidation and Disruption, Opioid Crisis and Other Key Issues on March 5

Alexandria, Va.— The American Bankruptcy Institute will hold a special one-day program to examine how current challenges facing the health care industry will lead to future opportunities. Issues to be discussed at ABI’s “The New Reality in Health Care” Program on March 5 at the JW Marriott Nashville in Nashville, Tenn., include the delivery of health care, private equity’s takeover of the industry, the rationing of health care services and reimbursements, and more. Conference attendees will take away a detailed understanding of the key issues that will plague the industry in the coming years, enabling attendees to identify opportunities within the ever-changing health care industry. Keynoting the program will be health care policy analyst Paul H. Keckley, managing editor of The Keckley Report and a widely known industry expert. There will be 5.9/7 hours of CLE/CPE credit available for this program.

Sessions for the Health Care Distress Program include:

  • Consolidation: Where Do We Go from Here?
  • Disruption in the Marketplace: The Retailization of Health Care
  • Cybersecurity Attacks: What Keeps You Up at Night?
  • Today’s Health Crisis: Behavioral Health and Opioids
  • What Are the Deal-Makers Looking For?

Chairs for the program are Suzanne A. Koenig of SAK Management Services LLC (Riverwoods, Ill.) and Nancy A. Peterman of Greenberg Traurig, LLP (Chicago).

For more information on the “The New Reality in Health Care” Program, please click here. Members of the media looking to attend the program should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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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 11,000 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.

 

 

 

ABI's 2020 Caribbean Insolvency Symposium Returns to Puerto Rico to Examine Cross-Border Issues, Student Loan Debt, Financial Advisors' Role in Bankruptcy and More on Feb. 3-5, 2020

Alexandria, Va. —ABI’s 2020 Caribbean Insolvency Symposium returns to Puerto Rico on Feb. 3-5, 2020, at the El San Juan Hotel in Carolina, Puerto Rico. This educational program has been developed to provide attendees with an interactive learning experience led by a faculty of prominent national and regional bankruptcy judges, as well as experienced practitioners. In addition to concurrent sessions, the Symposium will also feature session tracks tailored specifically for business and consumer practitioners, and a new track for financial advisors. Attendees have the opportunity to earn up to 12.6/12.5 hours of CLE/CPE credit, including up to 1.8/1.5 hours of ethics!

Concurrent Session:

The Impact of Technology on the Legal Profession, and Ethical Considerations to Avoid Malpractice

Business Track:

  • Chapter 15 and Cross-Border Asset-Recovery Update
  • Future Claims, Mass Torts, Channeling Injunctions and Nonconsensual Releases in Chapter 11 Plans
  • The Bankruptcy Trustee vs. Uncle Sam: Dividing the Proceeds of the Crime
  • A Primer on Small Business Bankruptcies and How to Confirm Plans in Small Business Cases
  • Chapter 11: Practical Skills and Case Law Update
  • Cannabis Businesses and Cannabis-Related Income Streams in Chapter 11 Cases

Consumer Track:

  • Final Report of the ABI Consumer Commission
  • Student Loan Update and the State of Higher Education Across Jurisdictions
  • Consumer Bankruptcy Concerns, Both Present and Developing
  • Recent Developments in Chapter 13, Parts 1 & 2

Financial Advisors Track:

  • Bankruptcy 101: Bankruptcy Basics for Financial Advisors
  • Financial Advisor’s Role in Business Bankruptcy Cases
  • Financial Advisor’s Role in Complex Chapter 11 Cases

Click here for the full schedule and list of speakers.

If you are a member of the press and would like to attend the Caribbean Insolvency Symposium, please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org. Full information on ABI’s 2020 Caribbean Insolvency Symposium, including sponsors, optional events and rates, can be found at https://www.abi.org/events/2020-caribbean-insolvency-symposium.

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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 11,000 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.abi.org/calendar-of-events

Challenges in Valuing and Restructuring a Continuing-Care Facility, Litigation Claims in Bankruptcy and Grocery Retail Valuations Among Issues to Be Discussed at the VALCON 2020 Conference

Leading bankruptcy professionals and dealmakers will converge at the “VALCON 2020: How to Flex When in Flux” conference, taking place at the Four Seasons Hotel in Las Vegas February 26-28, 2020. The conference is sponsored by the American Bankruptcy Institute and the Association of Insolvency & Restructuring Advisors, and attendees can earn up to 13.2/13 hours of CLE/CPE credit, including 1.2/1 hour of ethics. The luncheon keynote will feature unique and thoughtful bankruptcy insights from John “Jack” Wm. Butler, Jr. of Birch Lake Holdings, L.P. (Chicago) and Hon. Kevin J. Carey (Ret.) of Hogan Lovells US LLP (Philadelphia). Jack F. Williams of Baker Tilly Virchow Krause, LLP (Atlanta) and Patricia B. Tomasco of Quinn Emanuel Urquhart & Sullivan, LLP (Houston) are the co-chairs for the conference.

Sessions include:

  • Case Study in Conjunction with the 2020 Complex Financial Restructuring Program: The Challenges in Valuing and Restructuring Distressed Continuing Care Retirement Facilities (CCRCs)
  • Hot Topics in Valuation
  • Valuation of Litigation Claims and Causes of Action in Bankruptcy
  • The Latest Investment Banking, Turnaround and Legal Insights on Rapid Changes in Grocery Retail
  • Valuation of Intangible Assets and Non-Debt Liabilities
  • Cross-Border Valuation Issues
  • Diminution in Value Claims
  • Valuation Meets the Amazing Kreskin: Valuing Contingent Assets and Liabilities
  • Expert Pitfalls — and Ways to Avoid Them
  • Alix v. McKinsey: 2014 Issues and Ethics

For a program schedule and full list of speakers, please click here.

Members of the press looking to attend the VALCON 2020 conference should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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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 11,000 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.abi.org/calendar-of-events.

Agricultural Bankruptcies, Working with the Russian Judicial System, Convergence of Bankruptcy and Family Law and More to Be Discussed at ABI’s 25th Annual Rocky Mountain Bankruptcy Conference in Denver

Alexandria, Va. — The American Bankruptcy Institute’s (ABI) Rocky Mountain Bankruptcy Conference is set to return to the Four Seasons Hotel Denver Jan. 24-25, 2020. The conference will examine the lessons learned in both business and consumer bankruptcy cases over the past year and take a look at what trends may lie ahead in 2020. The conference features 13 panel sessions, including four as part of a separate workshop geared toward consumer practitioners. Colorado Attorney General Phil Weiser will also deliver a special keynote titled, “Protecting the People and the State: Addressing the Opioid Crisis.” Attendees at the Rocky Mountain Bankruptcy Conference have the opportunity to earn 10.25/12 hours of CLE/CPE credit and one hour of ethics.

Timely panel sessions include:

  • For the Future: Hot Topics in Commercial Bankruptcy
  • Chapter 11 Plan Strategy: Do It Right the First Time
  • Preference, Earmarking and Fraudulent Transfer Law: Making Progress Together for Future Bankruptcies
  • Vote Yourself a Farm: Agriculture Bankruptcy in Chapters 7, 11 and 12
  • Vote for a Better Future: Top 10 Ethics Traps and How to Avoid Them
  • Make Your Assets Count! Vote for a Great Expert and Get Them Qualified with the Court
  • Judges’ Roundtable
  • Get a Fresh Perspective: Special-Purpose Entities and Single-Asset Real Estate Insolvencies
  • For Better Government: Working with the Russian Judicial System

The Consumer Workshop track will include the following sessions:

  • Let the Winning Continue: Getting to Confirmation
  • Family First: Bankruptcy and Family Law
  • Cleaning It Up: Messy Chapter 7s
  • It’s About You: Mental Health, Professionalism and Burnout

Judicial Co-Chairs for the 2020 Rocky Mountain Bankruptcy Conference are Bankruptcy Judges Kevin R. Anderson (D. Utah; Salt Lake City) and Joseph G. Rosania (D. Colo.; Denver), and program co-chairs are Chad S. Caby of Lewis Roca Rothgerber Christie LLP (Denver) and Gil A. Miller of Rocky Mountain Advisory (Salt Lake City).

If you are a member of the press and would like to attend the Rocky Mountain Bankruptcy Conference, please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org. For more information about the conference, please click here.

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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 11,000 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.abi.org/calendar-of-events.

Attorneys’ Fees, Electronic Evidence at Trial, Supreme Court Decisions, Attorney Mental Health and More to Be Discussed at the 44th Paskay Seminar on Jan. 15-17, 2020, in Tampa

Alexandria, Va.— ABI and Stetson University College of Law will hold the 44th Annual Alexander L. Paskay Memorial Bankruptcy Seminar at the Westin Tampa Waterside in Tampa, Fla., January 15-17, 2020. The memorial CLE program honors the lifetime achievements of the late Bankruptcy Judge Alexander L. Paskay. Practitioners will hear analysis from some of the leading experts on business and consumer case trends. This year’s seminar features prominent regional and national speakers, joined by 10 bankruptcy judges, to discuss the most current commercial and consumer bankruptcy issues, and includes several networking events. Prof. Edward Janger of Brooklyn Law School (Brooklyn, N.Y.) will provide a keynote titled “Private Equity: Buy It and Then Break It — the Cautionary Tale from Retail Bankruptcies.” Attendees have the opportunity to earn up to 14.1/14 hours of CLE/CPE credit, including 1.8/1.5 hours of ethics. Judicial co-chairs for the conference are Bankruptcy Judges Roberta A. Colton (M.D. Fla.; Tampa) and Cynthia C. Jackson (M.D. Fla.; Orlando) and the conference chair is Jeffrey W. Warren of Bush Ross, P.A. (Tampa, Fla.).

 

Sessions include:

 

  • WWJGD (What Would Judge Glenn Do)?...
  • Admissibility of Electronic Evidence at Trial
  • Everything You Need to Know About Attorneys’ Fees and Sanctions in Bankruptcy
  • Business Bankruptcy Legal Update
  • Consumer Bankruptcy Legal Update
  • Basic Technology for the Bankruptcy Professional
  • Advanced Technology for the Bankruptcy Professional
  • ABI Talks: Impact on Bankruptcy Practice of Five Recent Supreme Court Decisions or Pending Decisions
  • Bankruptcy Practice Is Constantly Changing
  • Pro Bono Work for Consumer Clients
  • Mental Health and Mindfulness in Restructuring Matters
  • Judicial Merry-Go-Round

 

To view the full schedule and list of speakers at the Seminar, please click here.

 

Members of the press looking to attend the Paskay Memorial Bankruptcy Seminar should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org. For more information about the Paskay Memorial Bankruptcy Seminar, please click here.

 

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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 11,000 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.abi.org/calendar-of-events.

Total Bankruptcy Filings Register Slight Increase in Calendar Year 2019; First Year-Over-Year Increase in Eight Years

Alexandria, Va. After declining for eight consecutive years, total bankruptcy filings during calendar year 2019 (Jan. 1-Dec. 31) increased 0.28 percent from 2018, according to data provided by Epiq Systems, Inc. Total filings edged up to 757,497 in 2019 from 755,353 filings during calendar year 2018. Total consumer filings also increased to 718,553 nationwide for calendar year 2019 (Jan. 1-Dec. 31), 0.17 percent more than the 717,321 total filings during 2018. The 38,944 total commercial filings during calendar year 2019 increased 2.4 percent from the commercial filing total of 38,032 during calendar year 2018. The commercial chapter 11 filing total of 5,502 during calendar year 2019 represented a 0.36 percent increase from the 5,482 commercial chapter 11 filings in 2018.

“Two developments in the coming year will improve access to the fresh start of bankruptcy for both struggling small businesses and households,” said ABI Executive Director Amy Quackenboss. “The Small Business Reorganization Act becomes effective next month to provide a better path for Main Street debtors to restructure their debts. Also, the courts, Congress and other stakeholders continue to consider the recommendations of ABI’s Commission on Consumer Bankruptcy to modernize the Bankruptcy Code for consumers wrestling with overwhelming debt loads.”

The “Small Business Reorganization Act of 2019” (SBRA; P.L. 116-54), signed into law on Aug. 23, 2019, by President Donald Trump, becomes effective February 19, 2020. SBRA adds a new subchapter V to chapter 11, providing a better path for small businesses to successfully restructure, reduce liquidations, save jobs and increase recoveries to creditors. ABI’s Commission on Consumer Bankruptcy issued its Final Report of recommendations in April 2019 to improve access to the consumer bankruptcy system. Click here to view the report.

Total bankruptcy filings for the month of December increased 2 percent to 53,030 in 2019 from the 52,059 filings in December 2018. The 50,160 total noncommercial filings for December also represented a 2 percent increase from the December 2018 noncommercial filing total of 49,096. The 2,870 total commercial filings in December 2019 represented a 3 percent decrease from the 2,963 total commercial filings during the same period in 2018. Commercial chapter 11 filings dropped 14 percent to 391 in December 2019 from the 456 commercial chapter 11 filings in December 2018.

The average nationwide per capita bankruptcy filing rate for calendar year 2019 (Jan. 1-December 31) increased slightly to 2.44 (total filings per 1,000 population) from the 2.43 rate during calendar year 2019. States with the highest per capita filing rates (total filings per 1,000 population) through 2019 were:

1. Alabama (5.62)

2. Tennessee (5.29)

3. Georgia (4.38)

4. Mississippi (4.19)

5. Illinois (3.71)

ABI has partnered with Epiq Systems, Inc. in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq Systems is a leading provider of managed technology for the global legal profession. 

For further information about the statistics or additional requests, please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or jhartgen@abiworld.org.

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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 11,000 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.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events.

Epiq Systems is a leading provider of managed technology for the global legal profession.  Epiq Systems offers innovative technology solutions for electronic discovery, document review, legal notification, claims administration and controlled disbursement of funds.  Epiq System’s clients include leading law firms, corporate legal departments, bankruptcy trustees, government agencies, mortgage processors, financial institutions, and other professional advisors who require innovative technology, responsive service and deep subject-matter expertise. For more information on Epiq Systems, Inc., please visit http://www.epiqsystems.com.

 

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