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Agricultural Bankruptcies, Top Consumer Bankruptcy Issues, Valuation Testimony and More to Be Discussed at ABI’s 2020 Southeast Virtual Bankruptcy Workshop on July 24

Alexandria, Va. — Ten bankruptcy judges and top bankruptcy professionals based in the Southeast will discuss the latest bankruptcy topics at ABI’s 2020 Southeast Virtual Bankruptcy Workshop on July 24. The workshop will be held via an innovative Zoom-format that brings together the region’s top insolvency professionals for an afternoon of interactive and informative programming. Attendees have the opportunity to earn up to 5.1 hours of CLE credit, including 1.2 hours of ethics, and engage in valuable networking with regional colleagues — all from the comfort of home or office — for a total price of $100.

Program co-chairs for the Southeast Virtual Bankruptcy Workshop are James R. Irving of Dentons Bingham Greenebaum (Louisville, Ky.) and Jennifer M. McLemore of Williams Mullen (Richmond, Va.). The judicial chair for the workshop is Bankruptcy Judge Benjamin A. Kahn (M.D.N.C.; Greensboro).

Sessions at the Southeast Virtual Bankruptcy Workshop include:

  • Judicial Merry-Go-Round
  • Big Ag Panel
  • Consumer Bankruptcy Hot Topics
  • Valuation Testimony
  • How to Have Your Evidence Admitted
  • Ethics Quick Hits

For more information about the program, please click here. Members of the press that would like to attend ABI’s 2020 Southeast Virtual Bankruptcy Workshop should contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or [email protected]

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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.

 

 

Commercial Chapter 11 Filings Increase 26 Percent in First Half of 2020 over Last Year, Total Filings Drop 23 Percent

Alexandria, Va. Total commercial chapter 11 filings during the first six months of the year (Jan. 1-June 30) increased 26 percent to 3,604 from the 2,855 total filings during the same period in 2019, according to data provided by Epiq. Total bankruptcy filings decreased to 298,080 during the first six months of 2020, a 23 percent decrease from the 388,594 total filings during the same period a year ago. Total consumer filings registered a 24 percent decrease, as the 280,649 filings during the first half of 2020 were down from the 368,953 filings during the first six months of 2019. The 17,431 total commercial filings for the first half of 2020 represented an 11 percent drop from the commercial filing total of 19,641 for the first half of 2019.

“Businesses and consumers continue to navigate a challenging economic course as a result of the financial crisis due to the COVID-19 pandemic,” said ABI Executive Director Amy Quackenboss. “As government lifelines to help stabilize the economy begin to expire, bankruptcy provides a shield for households and companies facing intensifying financial distress. We anticipate filings to begin increasing as a result.”

Total commercial chapter 11 bankruptcies for the month of June 2020 were 609, representing a 44 percent increase from the 424 commercial chapter 11 filings in June 2019, according to Epiq’s data. During June there were a number of notable chapter 11 cases filed, including two more Catholic Dioceses, numerous large energy-related cases including Chesapeake Energy, and a number of well-known national companies such as 24 Hour Fitness, General Nutrition, Libbey Glass and Chuck E. Cheese. More than one-half of the chapter 11 cases filed during the month were actually associated cases filed by the subsidiaries of a larger financial group.

Total commercial bankruptcies slipped to 2,697 filings in June 2020, a 13 percent decrease from the 3,097 registered in June 2019. Total bankruptcy filings in June 2020 fell 31 percent to 42,416 from the 61,102 total filings in June 2019. Noncommercial bankruptcies for June 2020 decreased 32 percent, to 39,719 from the 58,005 filings in June 2019.

ABI’s COVID-19 Resources website is continually updated for bankruptcy professionals and the public to access essential information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic. The site features exclusive ABI content on the crisis, weekly filing statistics, recommended member analysis, industry sector news, charts and more. Also, ABI’s SBRA Resources webpage is routinely updated with information, statistics, analysis and events related to the Small Business Reorganization Act that went into effect this year to make bankruptcy more accessible, efficient and cheaper for struggling small businesses.

The average nationwide per capita bankruptcy filing rate for the first six calendar months of 2020 (Jan. 1-June 30) decreased slightly to 1.92 (total filings per 1,000 per population) from 1.98 for the first five months. The average total filings per day in June 2020 were 1,928, a 37 percent decrease from the 3,055 total daily filings in June 2019. States with the highest per capita filing rate (total filings per 1,000 population) through the first six months of 2020 were:

1. Alabama (4.46)

2. Delaware (3.89)

3. Tennessee (3.88)

4. Mississippi (3.49)

5. Georgia (3.25)

ABI has partnered with Epiq in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq 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 [email protected].

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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, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at https://www.epiqglobal.com.

ABI Journal Article Provides Helpful Recommendations for Shift to Remote Mediation in Bankruptcy Cases

Alexandria, Va. — While traditional face-to-face mediations and in-court proceedings have been curtailed due to the COVID-19 pandemic, more courts and lawyers are using remote mediation to move many cases forward in an efficient, cost-effective manner, according to an article in the June ABI Journal. “Learning to adapt and utilize remote mediation is necessary if bankruptcy lawyers and mediators are to serve those who have engaged them to resolve disputes,” ABI Journal Coordinating Editor Leslie A. Berkoff of Moritt Hock & Hamroff LLP (New York) and Hon. Louis H. Kornreich of Bernstein, Shur, Sawyer & Nelson PA (Portland, Maine), co-chair of the Special Projects Subcommittee of ABI's Mediation Committee, write in their article, “Taking Mediation Online: The Practicalities and the Pitfalls.” “Doing so will enable lawyers and mediators to meet the explosion in bankruptcy cases that is likely to occur in the aftermath of the current health crisis when bankruptcy courts are likely to be overwhelmed.”

In the absence of in-person mediation, Berkoff and Kornreich point out that remote mediation provides bankruptcy professionals with the ability to resolve time-sensitive bankruptcy disputes. “Bankruptcy courts have paved the way, as telephonic hearings have been in use for a number of years and video hearings are now occurring with regularity,” they write. “Applying technology to mediation is a step in that same direction, and training mediators and the bar will be another key to its success.”

Berkoff and Kornreich pointed out five important considerations to improve the effectiveness of remote mediation:

  1. The mediator who is conducting a remote mediation must be both capable and comfortable with the technology they use for the session. “Just as mediators are trained in the art of conducting in-person sessions, they must be similarly trained to conduct mediations online.”
  2. The mediator needs to ensure that all participants are comfortable with the confidentiality of the online process. “The mediator and lawyers must carefully review the confidentiality expectations of all the participants and stress the importance of maintaining the confidentiality of the process.”
  3. Security precautions should be taken with a remote vendor, and every participant should be made aware of these precautions. “By adding dual passwords, locking the session once all participants have joined and implementing some of the other recommended precautions, remote mediation will be as secure as the technology allows.”
  4. The parties should agree upon a contingency plan in case the technology fails to work, such as having technicians on standby.
  5. The mediation agreement should be re-crafted to incorporate all the above concerns and any special concerns of the participants.

“Mediation always depends on the parties having trust in the mediator and the process,” Berkoff and Kornreich write. “Therefore, it is up to the mediator to properly set the stage by establishing trust in the mediator, the technology and the process of remote mediation.”

Taking Mediation Online: The Practicalities and the Pitfalls” is available on the ABI Journal site for ABI members. Not an ABI member? Find out the many benefits of membership today.

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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/education-events.

New Statistics on ABI's SBRA Website Show that Nearly 500 Small Businesses Have Elected to File Bankruptcy Under New Subchapter V Provision Since it Became Effective in February

Alexandria, Va. — A new statistical table and analysis available on ABI’s SBRA Resources website show that 471 small businesses have elected to file for bankruptcy relief under new subchapter V to chapter 11 of the Code since it was enacted. The Small Business Reorganization Act of 2019 (SBRA) took effect on February 19, 2020, to provide a better path for small businesses to successfully restructure, reduce liquidations, save jobs and increase recoveries to creditors, and it also recognizes the value provided by entrepreneurs. In response to the economic distress caused by the COVID-19 coronavirus pandemic, the CARES Act on March 27 increased the eligibility limit for small businesses looking to file under subchapter V from $2,725,625 of debt to $7,500,000. The threshold will return to $2,725,625 after 1 year.

While no official (e.g., government) figures on subchapter V cases have been released to date, ABI’s Ed Flynn compiled the figures after a case-by-case review of records from the PACER system. A consultant and special editor to the ABI Journal, Flynn previously worked for more than 30 years at the Executive Office for U.S. Trustees and the Administrative Office of the U.S. Courts. In addition to providing the monthly totals of subchapter V elections, he included an analysis of the filings on the SBRA Resources website that also breaks down the subchapter V elections by circuit.

“The data on subchapter V elections and additional analysis from Ed Flynn will help provide a better picture to practitioners, researchers and the public about how struggling small businesses are utilizing the new law,” said ABI Executive Director Amy Quackenboss. “These statistics, and the wealth of information contained within ABI’s SBRA Resources site, make the site an invaluable reference.”

ABI launched the “SBRA Resources” website in February 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 the SBRA, an infographic, the legislative history of the SBRA, informative videos of ABI presentations on the SBRA, updated news and commentary, articles from the ABI Journal and ABI committee newsletters, and more.

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.

Statement from ABI President Hon. Barbra Houser on ABI's Commitment to Diversity and Inclusion

Alexandria, Va. The following statement was issued by ABI President Hon. Barbara Houser (U.S Bankruptcy Court (N.D. Tex.); Dallas):

“The recent senseless deaths of black Americans have brought to light the systemic, ongoing and deep-rooted issues our beloved country has with race. I know my outrage over these recent events is shared by ABI members, staff and the entire insolvency community, but is felt most deeply by our black friends, colleagues and family members. ABI stands against racism and is committed to professionalism, equality and diversity.

ABI's Diversity and Inclusion Working Group was put in place in 2018 to address issues with diversity, including racial diversity, within ABI, its leadership and our industry. I thought it important at this time to share with you an update from ABI Diversity and Inclusion Working Group Co-chair Michael Bernstein on the efforts of this group to date.”

Click here to read the report.

“There is much we need to do to improve racial diversity and inclusion in our country and in our profession. ABI is committed to maintaining an open dialogue on these issues.”

Judge Houser encourages practitioners to reach out to her, ABI Executive Director Amy Quackenboss, or Bernstein if they have thoughts or ideas on how ABI can further its diversity and inclusion initiatives. For those interested, please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or [email protected].

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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.

May Commercial Chapter 11s Increase 48 Percent over Last Year, Total Filings Down 42 Percent

Alexandria, Va. Total commercial chapter 11 filings in May 2020 increased 48 percent from the previous year, according to data provided by Epiq. Commercial chapter 11 filings totaled 722 in May 2020, elevated from the May 2019 total of 487. Conversely, total commercial filings decreased 28 percent in May 2020, as the 2,578 filings were down from the 3,558 commercial filings registered in May 2019. The 39,969 total bankruptcy filings in May 2020 were down 42 percent from the 68,860 total filings in May 2019. Total consumer filings decreased 43 percent in May 2020, as the 37,391 filings fell from the 65,302 consumer filings registered in May 2019.

“Companies that tried to shore up their balance sheets at the beginning of the year represent the initial wave of chapter 11s due to the economic crisis brought about by the COVID-19 pandemic,” said ABI Executive Director Amy Quackenboss. “The CARES Act and other swift government measures have been successful in keeping consumers afloat during the crisis. As this relief runs its course, however, mounting financial challenges may result in more households and companies seeking the shelter of bankruptcy.”

ABI’s COVID-19 Resources website is continually updated for bankruptcy professionals and the public to access essential information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic. The site features exclusive ABI content on the crisis, recommended member analysis, industry sector news, charts and more. Also, ABI’s SBRA Resources webpage is routinely updated with information, analysis and events related to the Small Business Reorganization Act that went into effect this year to make bankruptcy more accessible, efficient and cheaper for struggling small businesses.

May’s commercial chapter 11 filings represented a 29 percent increase from the 562 filings in April 2020. Total commercial filings were up 12 percent over the April 2020 commercial filing total of 2,293. Total bankruptcy filings in May represented a 4 percent increase over the 38,444 total filings recorded the previous month. Total noncommercial filings for May represented a 3 percent increase from the April 2020 noncommercial filing total of 36,151.

The average nationwide per capita bankruptcy filing rate in May was 1.98 (total filings per 1,000 per population), a decrease from the 2.09 filing rate during the first four months of the year. Average total filings per day in May 2020 were 1,998, a 36 percent decrease from the 3,130 total daily filings in May 2019. States with the highest per capita filing rates (total filings per 1,000 population) in May 2020 were:

1. Alabama (4.66)

2. Tennessee (4.05)

3. Delaware (3.90)

4. Mississippi (3.64)

5. Georgia (3.45) 

ABI has partnered with Epiq in order to provide the most current bankruptcy filing data for analysts, researchers and members of the news media. Epiq is a leading provider of managed technology for the global legal profession. To view the full monthly statistical tables provided by Epiq, be sure to visit ABI’s Newsroom.

For further information about the statistics or additional requests, please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or [email protected].

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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 is a leading provider of managed technology for the global legal profession. Epiq offers innovative technology solutions for electronic discovery, document review, legal notification, claims administration and controlled disbursement of funds. Epiq 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, please visit https://www.epiqglobal.com.

ABI Journal Article Provides Key Insights and Suggested Practices for Use of Structured Dismissals In Chapter 11

Alexandria, Va. — A “fourth” exit strategy of a structured dismissal in chapter 11 continues to grow as a popular option for companies after they conduct a §363 asset sale, according to an article in the May ABI Journal. “For decades, the conventional wisdom was that no matter why a business filed for chapter 11, there were only three ways for it to exit: (1) confirmation of a plan (which could include a liquidating plan); (2) conversion to chapter 7; or (3) dismissal,” ABI Vice President-Publications Lisa Sommers Gretchko of Howard & Howard Attorneys PLLC (Royal Oak, Mich.) and ABI Board member Paul R. Hage of Jaffe Raitt Heuer & Weiss (Southfield, Mich.) write in their article, “Nuts and Bolts of the Structured Dismissal of a Chapter 11 Case.” “Increasingly, however, chapter 11 cases are filed for the purpose of conducting so-called ‘free and clear’ sales of substantially all of a business’s assets pursuant to §363.”

Whereas traditional dismissal normally returns a debtor to its pre-petition state, a structured dismissal extends certain benefits obtained during the bankruptcy case post-dismissal without the cost or delay associated with confirming a liquidating plan, according to Gretchko and Hage. “Structured-dismissal orders have been characterized as a hybrid dismissal and confirmation order,” they write.

Although the Supreme Court reversed the approval of the structured-dismissal order in Jevic because it violated the Bankruptcy Code's priority scheme without the consent of the adversely impacted creditors, the Court’s language in Jevic suggests that a structured dismissal might be approved where such defects do not exist, according to Gretchko and Hage. In light of this decision, Gretchko and Hage recommend the following tips to practitioners considering structured-dismissal requests:

  1. The structured-dismissal order should contain a finding that "cause" exists for the structured dismissal, and the record should describe the circumstances creating such cause.
  2. Especially when the structured dismissal follows a 363 sale or court-approved settlement, the structured-dismissal order should provide that all orders entered in the bankruptcy case continue in full force and effect post-dismissal, and that the bankruptcy court retains jurisdiction relating to the implementation of the structured-dismissal order or any other order entered in the chapter 11 case.
  3. The structured-dismissal order should not be entered until after the bar date(s) for administrative expenses (including professionals’ fees) and unsecured claims has passed, and the universe of allowed expenses and claims has been finally determined pursuant to a claims-reconciliation process that is reasonable under the circumstances.
  4. In order to satisfy Jevic, any distribution contemplated under the order should comply with the absolute priority rule or, alternatively, note that adversely impacted creditors have consented to any deviation from the absolute priority rule.
  5. Some courts require that the structured-dismissal order list the proposed distributions to be made in a manner similar to a final report in a chapter 7 case (e.g., the claim amount and the amount to be distributed on that claim), and give parties notice and time after the structured-dismissal order in which to object to the order itself.
  6. The order should appoint a responsible person to supervise the distribution process and should provide that any funds remaining after the completion of the final distribution may be distributed pro rata to creditors in a subsequent distribution.
  7. The bankruptcy court will not dismiss the bankruptcy case until the completion of all the conditions/tasks set forth in the structured-dismissal order.
  8. In some cases, the debtor or other stakeholders will ask for various exculpations and releases for debtor and nondebtor parties in the dismissal order.

Members of the press looking to obtain a copy of “Nuts and Bolts of the Structured Dismissal of a Chapter 11 Case,” please contact ABI Public Affairs Officer John Hartgen at 703-894-5935 or [email protected].

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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/education-events.

Total April Bankruptcy Filings Fall 46 Percent over Last Year, Commercial Chapter 11s Increase 26 Percent

Alexandria, Va. Total U.S. bankruptcy filings in April 2020 decreased 46 percent from the previous year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 38,428 in April 2020, down from the April 2019 total of 71,303. The 36,150 consumer bankruptcy filings in April 2020 were down 47 percent from the April 2019 consumer total of 67,802. Total commercial filings decreased 35 percent in April 2020, as the 2,278 filings were down from the 3,501 commercial filings registered in April 2019. Conversely, total commercial chapter 11 filings were up 26 percent to 560 in April 2020 from the April 2019 total of 444.

“The extraordinary measures taken by Congress and the Administration to assist individuals and businesses weather the initial economic shock caused by the pandemic have likely staved off bankruptcy filings to date,” said ABI Executive Director Amy Quackenboss. “As financial challenges continue to escalate amid this crisis, bankruptcy is sure to offer a financial safe harbor from the economic storm.” 

ABI recently launched its new COVID-19 Resources website for bankruptcy professionals and the public to access essential information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic. The site features exclusive ABI content on the crisis, recommended member analysis, industry sector news, charts and more. New content will be added regularly, so be sure to visit and bookmark the COVID-19 Resources website by clicking here.

April’s total bankruptcy filings represented a 39 percent decrease when compared to the 62,866 total filings recorded the previous month. Total noncommercial filings for April also represented a 39 percent decrease from the March 2020 noncommercial filing total of 59,684. The commercial filing total represented a 28 percent decrease from the March 2020 commercial filing total of 3,182. Commercial chapter 11 filings increased 6 percent from the 530 filings in March 2020.

The average nationwide per capita bankruptcy filing rate in April was 2.09 (total filings per 1,000 per population), a decrease from the 2.29 filing rate during the first three months of the year. Average total filings per day in April 2020 were 3,239, a 3 percent decrease from the 3,323 total daily filings in April 2019. States with the highest per capita filing rates (total filings per 1,000 population) in April 2020 were:

1. Alabama (5.02)

2. Tennessee (4.44)

3. Mississippi (3.99)

4. Georgia (3.78)

5. Delaware (3.52) 

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. To view the full monthly statistical tables provided by Epiq Systems, be sure to visit ABI’s Newsroom.

For further information about the statistics or additional requests, please contact ABI Public Affairs Manager John Hartgen at 703-894-5935 or [email protected].

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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.

 

Paul Leake of Skadden, Arps, Slate, Meagher & Flom LLP Selected to ABI’s Board of Directors

Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Paul Leake of Skadden, Arps, Slate, Meagher & Flom LLP (New York) has been elected to ABI’s Board of Directors. An ABI member since 2011, Leake has served on the advisory boards of ABI’s New York City Bankruptcy Conference, Corporate Financial Restructuring Program, VALCON and Views from the Bench Program. He will serve a term of three years on the 60-member ABI Board of Directors.

Leake is global head of Skadden’s corporate restructuring practice and has led numerous large and complex U.S. and cross-border corporate workouts and restructurings. He represents debtors, commercial banks and bank groups, distressed investment funds, noteholder committees, official creditors’ committees and distressed investors in all forms of corporate restructurings.

Leake is regularly listed in rankings of leading restructuring lawyers in the U.S. and globally, including Chambers USA, Chambers Global, The Legal 500, K&A Restructuring Register, IFLR1000, The Best Lawyers in America and Turnarounds & Workouts. He has published and lectured extensively on U.S. and transnational insolvency matters.

Leake is a member of the board of directors of Her Justice, a nonprofit organization that supports women living in poverty in New York City by recruiting and mentoring volunteer lawyers to provide free legal help to address individual and systemic legal barriers. He also is a Fellow of the American College of Bankruptcy. Leake received his B.A. from Amherst College in 1985 and his J.D. from Columbia University in 1988.

The complete list of directors and officers is available at https://www.abi.org/about-us/board-of-directors.

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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.

 

 

Eric L. Johnson of Spencer Fane LLP Selected to ABI’s Board of Directors

Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Eric L. Johnson of Spencer Fane LLP (Kansas City, Mo.) has been elected to ABI’s Board of Directors. An ABI member since 2001, Johnson is the co-chair of ABI's Secured Credit Committee, was a member of the steering committee for ABI's 40 Under 40 program and serves on the ABI Midwestern Bankruptcy Institute program. He will serve a term of three years on the 60-member ABI Board of Directors.

Johnson is a partner at Spencer Fane, co-practice group leader for its Banking and Financial Services Group, and practice group leader for its Bankruptcy, Restructuring and Creditors’ Rights Group. He represents clients in bankruptcy, nonbankruptcy insolvency proceedings such as receiverships and foreclosure proceedings, out-of-court workouts and restructurings, and other related insolvency matters. As an experienced litigator, Johnson also represents clients in complex insolvency-related litigation, including bankruptcy avoidance actions and other adversary proceedings and contested matters. He also is a member of the panel of chapter 7 trustees for the Western District of Missouri and is currently serving as a federal equity receiver.

Johnson currently serves as the chair of the Missouri Bar’s Business/Corporate Division and as president of the Kansas Bar Association’s Bankruptcy and Insolvency Section. In the past, he has served as co-chair for the Missouri Bar’s Bankruptcy Creditor/Debtor Rights Committee, as president and board member for the Kansas City Bankruptcy Bar Association, and as a member of the Bench Bar Committees for the U.S. Bankruptcy Courts for the District of Kansas and the Western District of Missouri. He has also served on various subcommittees for the Missouri Bar, including the subcommittee related to the Missouri Commercial Receivership Act.

Among his many distinctions, Johnson has been named to The Best Lawyers in America® from 2010-2020 and as its Lawyer of the Year (2017) in Litigation – Bankruptcy, and he was listed in the Kansas City Business Journal’s Best of the Bar from 2010-2016. He received his B.A. from the University of Northern Iowa in 1998 and his J.D. from the University of Iowa College of Law in 2001.

The complete list of directors and officers is available at http://www.abi.org/about-us/board-directors.

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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.

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