Press Releases

ABI Releases Updated First Day Motions Guide

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

ABI RELEASES UPDATED FIRST DAY MOTIONS GUIDE

June 22, 2006, Alexandria, Va. — The American Bankruptcy Institute (ABI) released the second edition of First Day Motions: A Practical Guide to the Critical First Days of a Bankruptcy Case. The new edition of First Day Motions was written by the Debra Grassgreen, who authored the first edition as well, and Maxim Litvack of Pachulski, Stang, Ziehl, Young, Jones & Weintraub P.C. (San Francisco). Prof G. Ray Warner (St. Johns University School of Law), ABI Pension and Benefits Committee co-chair and former Robert M. Zinman Resident Scholar, edited the guide. 

Updated to incorporate and outline the recent BAPCPA amendments, representing the most sweeping changes to 'first day' practice in many years, First Day Motions, Second Edition addresses the basics of first-day motions and provides an overview of administrative, operational and substantive motions/orders and the appeal of a first-day motion. Sample motions are included.

First Day Motions is available for purchase ($15 members; $25 nonmembers) through ABI's Publications Store at http://www.abiworld.org/org/pubscatalogue.html.

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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.

Creditors Can Bring Adversary Proceedings in Forma Pauperis According to Majority in Latest ABI Poll

Contact: Carolyn Kanon
             (703) 739-0800
             [email protected]

CREDITORS CAN BRING ADVERSARY PROCEEDINGS IN FORMA PAUPERIS, ACCORDING TO MAJORITY IN LATEST ABI POLL

June 30, 2006, Alexandria, Va. — A majority of respondents to a recent American Bankruptcy Institute online poll agreed that creditors have a right to proceed in forma pauperis in an adversary proceeding pursuant to 28 USC 1915(a), which provides that any court of the U.S. may authorize any proceeding by a person who is unable to pay the filing fee. Of the majority of respondents, 33 percent “strongly agreed” and 21 percent “somewhat agreed” that creditors have a right to proceed in a proceeding in which the debtor cannot afford the filing fee.

Conversely, 25 percent of respondents “disagreed strongly” and another 6 percent “disagreed somewhat” that creditors should be allowed to proceed with a bankruptcy case in which the person cannot afford the filing fee. Fourteen percent of the respondents did not know or had no opinion on the issue. The right of debtors to proceed in forma pauperis was expanded by the 2005 amendments to the Code.

ABI membership and members of the public were welcome to submit their response to the statement: “Question:Creditors have a right to proceed in forma pauperis in an adversary proceeding pursuant to 28 USC 1915(a), which provides that any court of the U.S. may authorize any proceeding by a person who is unable to pay the filing fee.” The latest ABI Quick Poll was open for voting to the public and ABI members from June 23 – June 29.

The ABI 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.

 

ABIS Bankruptcy Telecommunications Manual Updated to Include BAPCPA Provisions

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

ABI’S BANKRUPTCY TELECOMMUNICATIONS MANUAL UPDATED TO INCLUDE BAPCPA PROVISIONS

June 23, 2006, Alexandria, Va. — The American Bankruptcy Institute (ABI) announced today the release of the Bankruptcy Telecommunications Manual, Second Edition. Written by the bankruptcy and financial restructuring experts at Wiley Rein & Fielding LLP (Washington, D.C. and Tysons Corner, Va.), the manual provides an overview of basic bankruptcy law for the telecom professional and basic communication law for the insolvency professional. Updated to include provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the Manual examines the interrelationship and conflict between the Communication Act and the Bankruptcy Code. The Manual covers issues such as discontinuation of service, interconnection, non-discrimination in delivery of service, transfer and assignment of FCC licenses and more. Statutes and regulatory schemes and an index of key terms are included.

The Bankruptcy Telecommunications Manual, Second Edition is available for purchase ($15 for ABI members; $25 for non-members) through ABI’s online bookstore at 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 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.

Spring Issue of the ABI Law Review Features Substantive Consolidation Serial Filings and More

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

SPRING ISSUE OF THE ABI LAW REVIEW FEATURES SUBSTANTIVE CONSOLIDATION, SERIAL FILINGS AND MORE

June 19, 2006, Alexandria, Va. — The American Bankruptcy Institute (ABI) Spring 2006 ABI Law Review (Volume 14, No. 1), features seven articles and two student notes looking at a number of timely insolvency topics, including substantive consolidation, “good faith” requirements in chapter 11 liquidations and an empirical study of repeat bankruptcy filings. The issue also contains an analysis of the Supreme Court’s sovereign immunity jurisprudence.

“State Sovereign Immunity: Bankruptcy Is Special,” written by Prof. Richard Lieb of St. John’s University School of Law, covers the Court’s recent decision in Central Virginia Community College v. Katz. Lieb reviews the Court’s jurisprudence on the Eleventh Amendment as it relates to jurisdiction in bankruptcy courts, and the lessons learned from Seminole Tribe, Hood and Katz decision.

Seth D. Amera of Microsoft Corp. (Redmond, Wash.) and Allan Kolod of Moses & Singer LLP (New York) in “Substantive Consolidation: Getting Back to Basics,” criticize the Third Circuit’s decision in Owens Corning for diminishing judges’ discretion in substantive consolidation litigation.

“Prevalence of Substantive Consolidation in Large Bankruptcies from 2000 to 2004: Preliminary Results” by Prof. William H. Widen of the Univeristy of Miami School of Law informs readers how influential the doctrine of substantive consolidation is in reorganization negotiations. Prof. Widen was recently awarded a grant by the ABI Endowment to further study the prevalence of substantive consolidation in large corporate bankruptcies.

Prof. Jason J. Kilborn of the University of North Dakota writes on the proactive efforts of Belgium and Luxembourg to pass debt relief legislation and examines new systems in his article “Continuity, Change and Innovation in Emerging Consumer Bankruptcy Systems: Belgium and Luxembourg.”

“Intra-Committee Conflicts, Multiple Creditors’ Committees, Altering Committee Membership and Other Alternatives for Ensuring Adequate Representation under Section 1102 of the Bankruptcy Code” features an examination by Kurt F. Gwynne of Reed Smith LLP (Wilmington, Del.) of committees’ representation of all unsecured creditors despite conflicts of interest.

In “The Implicit ‘Good Faith’ Requirement in Chapter 11 Liquidations: A Rule in Search of a Rationale?,” Ali M.M. Mojdehi and Janet Dean Gertz of Baker & McKenzie LLP (San Diego) argue that the good-faith requirement has a limited role when applied to debors liquidating under a chapter 11 plan.

“Bankruptcy Repeat Filings,” by John Golmant and Tom Ulrich of the Administrative Office of the U.S. Courts (Washington, D.C.) provides the first comprehensive report of consumer bankruptcy repeat filing rates to find that 8 percent of consumer pre-BAPCPA were repeat filers.

Student notes cover the results that are obtained when bankruptcy intervenes in domestic relations cases and the timely question of whether the new law violates attorneys’ first amendment rights.

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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.

 

Steering Committee Appointed to Develop Conference for Anniversary of the New Bankruptcy Law

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

STEERING COMMITTEE APPOINTED TO DEVELOP CONFERENCE FOR ANNIVERSARY OF THE NEW BANKRUPTCY LAW

June 20, 2006, Alexandria, Va. — The American Bankruptcy Institute (ABI) announced the appointment of a Steering Committee to develop the programming for a one-day conference on the “One-Year Anniversary Program on the Implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).”   The conference will take place on Oct. 16, 2006 in Washington, D.C.

Congress enacted the most sweeping reform of the Federal bankruptcy laws over the last 25 years in 2005, with most of the changes effective for cases filed after Oct. 17, 2005.  The purpose of the conference is to examine the impact of the new law on debtors, creditors and the other players in the bankruptcy system. 

The One-Year Anniversary Program will feature practitioners, judges, trustees, professors, business groups and consumer groups to analyze the impact of BAPCPA one year after it was implemented on Oct. 17, 2005. This day-long conference brings together the leading experts and practitioners from the private and public sectors to assess the first year experience from a variety of perspectives. 

Members of the Program’s steering committee include:

  • Professor Jean Braucher, Roger Henderson Professor of Law University of Arizona Co-Chair
  • Judge Dennis Dow (Western District of Mo.- U.S. Bankruptcy Court) Co-Chair
  • Melyssa Barrett, Visa USA Inc.
  • Suzanne Boas, Consumer Credit Counseling Service, Inc. of Greater Atlanta
  • Roberta A. DeAngelis, Acting General Counsel, Executive Office for U.S. Trustees
  • Larry Friedman, eCAST Settlement Group
  • Richardo Kilpatrick, Kilpatrick & Associates, PC
  • John McMickle, Winston & Strawn
  • Travis Plunkett, Consumer Federation of America
  • Jennifer Smith, The Financial Services Roundtable
  • Lynn Tavenner, Tavenner & Beran, PLC

ABI Executive Director Sam Gerdano and ABI Deputy Executive Director and General Counsel Ann vom Eigen will serve as “ex officio” members of the Steering Committee.

ABI and The Financial Services Roundtable developed the multi-disciplinary steering committee to provide input and planning for the One-Year Anniversary Program.

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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.

Companies Shedding Pensions Abuse the Bankruptcy System According to Majority in Latest ABI Poll

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

COMPANIES SHEDDING PENSIONS ABUSE THE BANKRUPTCY SYSTEM, ACCORDING TO MAJORITY IN LATEST ABI POLL

June 22, 2006, Alexandria, Va. — Sixty-three percent of respondents to the recent American Bankruptcy Institute online poll agreed that the practice of corporate debtors to shed their defined benefit pension plans onto the Pension Benefit Guaranty Corp. (PBGC) is an abuse of the bankruptcy system. Of the majority of respondents, 52 percent “strongly agreed” and 11 percent “somewhat agreed” that corporate debtors transferring defined benefit pension plans onto the PBGC is an abuse of the bankruptcy system.

Conversely, 19 percent of respondents “disagreed strongly” and another 10 percent “disagreed somewhat” that the practice is an abuse of the bankruptcy system. Eight percent of the respondents did not know or had no opinion on the issue.

ABI membership and members of the public were welcome to submit their response to the statement: “The ability of corporate debtors to shed their defined benefit pension plans onto the PBGC is an abuse of the bankruptcy system.” More than 100 people participated in this latest ABI Quick Poll, which was open for voting from June 16 – June 22.

The poll question was based on reports that the PBGC is operating under a $22.8 billion deficit after assuming the liabilities of pension plans of recently bankrupt companies in the airline, automotive and steel industries. The move to terminate a pension is one of the most controversial practices in chapter 11 today.

The ABI 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.

Sixteen Bankruptcy Judges Featured at ABIs Bankruptcy 2006 Views from the Bench Washington D.C. Conference

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

SIXTEEN BANKRUPTCY JUDGES FEATURED AT ABI’S “BANKRUPTCY 2006: VIEWS FROM THE BENCH” CONFERENCE

June 20, 2006, Alexandria, Va. — Sixteen judges are participating at the American Bankruptcy Institute’s “Bankruptcy 2006: Views from the Bench” on Oct. 6 at The Georgetown University Law Center. David R. Kuney of Sidley Austin (Washington, D.C.) is the program chair for the conference. Attendees will have the opportunity to earn 7.0 CLE credits, including 1.0 hour of ethics, at the conference.

Panel sessions include:

“First-Day Motions: Including Critical Vendors; Stay Bonuses; Ordinary-Course Professionals; Abuse of DIP Financing; Sale Orders on Day One” will be moderated by Marcia L. Goldstein of Weil, Gotshal & Manges LLP (New York) and facilitated by Karen H. Moore of Whiteford, Taylor and Preston LLP (Baltimore). The judges panel includes Bankruptcy Judges Mary Grace Diehl (Atlanta), Rosemary Gambardella (Newark, N.J.) and Gregg W. Zive (Reno, Nev.).

Jay M. Goffman of Skadden, Arps, Slate, Meagher & Flom LLP (New York) will moderate “Confirmation and Plan Issues: Liquidating Trusts and Post-confirmation Jurisdiction; ‘Gift’ Plans; Absolute Priority after Armstrong; Appeals; and Unfair Discrimination” with facilitator Edward C. Dolan of Hogan & Hartson LLP (Washington, D.C.) and joined by Bankruptcy Judges Kevin J. Carey (Wilmington, Del.), Bruce A. Markell (Las Vegas), Douglas O. Tice Jr. (Richmond, Va.).

“Creditors and Equity Committees: Appointment, Disclosure Obligation; Sharing Information; Waiver of Attorney/Client Privilege; Hedge Funds on Committees” moderated by Robert J. Rosenberg of Latham & Watkins LLP (New York) and facilitated by Mary Joanne Dowd of Arent Fox PLLC (Washington, D.C.) features Bankruptcy Judges Robert D. Drain (New York.), Mary F. Walrath (Wilmington, Del.) and Judith H. Wizmur (Camden, N.J.).

Moderator Jamie H.M. Sprayregen of Kirkland & Ellis LLP (Chicago) will be joined by facilitator Prof. David Gray Carlson of the Benjamin N. Cardozo School of Law Yeshiva University (New York) along with Bankruptcy Judges Thomas B. Bennett (Birmingham, Ala.), Leif M. Clark (San Antonio) and Prof. William Widen of the University of Miami School of Law (Coral Gables, Fla.) to discuss “Substantive Consolidation: Deemed Consolidation; Structured Finance; Pre-packaged Plans.”

The “Legal Ethics: Conflicts Issues; Attorney Conflicts from Multiple Representation; Senior and Junior Lienholders” panel will be moderated by   Thomas E. Lauria of White & Case LLP; (Miami) with facilitator Irving E. Walker of  Saul Ewing LLP (Baltimore) featuring Bankruptcy Judges   Judith K. Fitzgerald (Pittsburgh) and   Arthur J. Gonzalez (New York).

William Perlstein of WilmerHale LLP (Washington, D.C.) will moderate “Corporate Governance: Enjoining Shareholder Meetings and Proxy Fights; Derivative Suits and Releases” with facilitator Jo Ann J. Brighton of Kennedy Covington Lobdell & Hickman LLP (Charlotte, N.C.) and a panel including Bankruptcy Judges Robert E. Gerber (New York), Allan L. Gropper (New York) and S. Martin Teel (Washington, D.C.).

This year’s program also features three break-out lunch sessions with judges and faculty to follow up on some of the topics in small-group formats. For more information on the “Views from the Bench” conference, please be sure to visit http://www.abiworld.org/GT06.

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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.

Professor David Skeel to Serve as ABI Resident Scholar Through Early Fall 2006

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

PROFESSOR DAVID SKEEL TO SERVE AS ABI RESIDENT SCHOLAR THROUGH EARLY FALL 2006

June 21, 2006, Alexandria, Va. — Prof. David Skeel will serve as the Robert M. Zinman ABI Resident Scholar for the Summer 2006 semester through early Fall. He is the S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania Law School. Skeel will serve in ABI's Alexandria, Va., office from summer to fall. He will assist ABI in its educational programming and its role as the authoritative source of bankruptcy information for the Congress, media and public.

Prof. Skeel’s work focuses on corporate bankruptcy, the history of bankruptcy in the United States and corporate governance. He has appeared as an expert on corporate governance or bankruptcy issues on Nightline, CNBC and Marketplace as well as being interviewed for publications such as the Wall Street Journal, New York Times and the Economist.

'David Skeel is one of the top scholars and teachers in America and we are honored to have him join us as the Zinman Scholar', said Samuel J. Gerdano, ABI Executive Director.

Prof.  Skeel joined the University of Pennsylvania Law School in 1999 with a focus on teaching corporate law, bankruptcy, corporate governance and contract law. He also was a visiting professor at Georgetown University Law Center during the fall semester of 2004. In addition to publishing articles and books on bankruptcy, corporate governance and religion, Skeel enjoys both publicly reading and publishing poetry. Prior to his teaching career, Skeel worked from 1988-90 as an associate in the Reorganization and Finance Department of Duane, Morris & Heckscher (Philadelphia) and also served as a judicial clerk for Judge Walter K. Stapleton (Wilmington, Del.) from 1987-88. He was awarded the Harvey Levin Award for Excellence in Teaching twice by the 1999 and 2002 University of Pennsylvania Law School graduating class. David Skeel received his J.D. from the University of Virginia School of Law in 1987 and his B.A. from the University of North Carolina in 1983.  

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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.

Unpaid Chapter 13 Legal Fees Should not be Discharged According to Latest ABI Poll

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

 

UNPAID CHAPTER 13 LEGAL FEES SHOULD NOT BE DISCHARGED, ACCORDING TO LATEST ABI POLL

July 31, 2006, Alexandria, Va. — The majority of respondents to a recent American Bankruptcy Institute online poll agreed that remaining legal fees unpaid after a chapter 13 bankruptcy proceeding has been discharged must be paid by the debtor and should not be discharged, even though the confirmed plan provides that fees can be paid directly by the debtor. Forty-seven percent “strongly agreed,” while an additional 14 percent of respondents “agreed somewhat” that unpaid legal fees should be paid by the debtor after the debtor’s chapter 13 case is discharged.

Conversely, 23 percent of respondents disagreed that unpaid legal fees in a chapter 13, even if the filing has been discharged, should be paid by the debtor. Twelve percent “strongly disagreed,” while 11 percent “disagreed somewhat.” Fifteen percent of the respondents did not know or had no opinion on the issue.

ABI membership and members of the public were welcome to submit their response to the statement: “Legal fees remaining unpaid post-discharge in chapter 13 must be paid by the debtor and are not discharged, even though the confirmed plan provides that fees can be paid directly by the debtor.” The latest ABI Quick Poll was open for voting to the public from July 21 – July 27.

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.

Low Filing Levels Not Proof that New Bankruptcy Law Is Working as Intended According to Latest ABI Poll

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

LOW FILING LEVELS NOT PROOF THAT NEW BANKRUPTCY LAW IS WORKING AS INTENDED, ACCORDING TO LATEST ABI POLL

July 21, 2006, Alexandria, Va. — More than three-quarters of respondents to a recent American Bankruptcy Institute online poll disagreed that supporters of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) can validly claim that the new law is working as intended because bankruptcy filings are now at their lowest levels since the mid-1980s. Sixty-six percent “strongly disagreed” while an additional 11 percent of respondents “disagreed somewhat” that the lower number of filings showed that BAPCPA was working as intended.

Conversely, only 18 percent of respondents agreed that BAPCPA’s supporters could validly claim that the new law is working as intended as a result of the decrease in bankruptcy filings. Eleven percent “agreed somewhat,” while 7 percent “agreed strongly.” Five percent of the respondents did not know or had no opinion on the issue.

The poll is based on U.S. bankruptcy courts statistics showing that bankruptcy filings have dropped off dramatically since the implementation of BAPCPA on Oct. 17, 2005. The Administrative Office of the U.S. Courts reported that filings during the first calendar year quarter of 2006 (Jan. 1-March 31, 2006) fell to 116,771, their lowest level since 1985. Through June, filings are off over 70 percent from a similar period in 2005.

ABI membership and members of the public were welcome to submit their response to the statement: “Supporters of BAPCPA can validly claim that the law is working as intended because new filings are now at their lowest levels since the mid-1980s.” The latest ABI Quick Poll was open for voting to the public from July 14 – July 20.

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