Press Releases

Creditors Can Recover Attorney Fees Pursuant to a Contract or State Statute According to New ABI Poll

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

CREDITORS CAN RECOVER ATTORNEY FEES PURSUANT TO A CONTRACT OR STATE STATUTE, ACCORDING TO NEW ABI POLL

November 20, 2006, Alexandria, Va. — A majority (58 percent) of respondents in a recent American Bankruptcy Institute online poll disagreed that a party may not recover attorneys’ fees pursuant to a contract or state statute where the issues involve federal bankruptcy law because only federal law may authorize such a recovery. Thirty-six percent of respondents “strongly disagreed” and another 22 percent “disagreed somewhat” that attorney fees connected to a contract or state statute could not be recovered where the issues involve federal bankruptcy law.

Thirty-four percent agreed that attorneys’ fees may not be recovered through a contract or state statute as only federal bankruptcy law may authorize such a recovery. Twenty-three percent of respondents “agreed strongly,” while 11 percent “somewhat agreed” that a party may not recover attorney fees pursuant to a contract or state contract where the issues involve federal bankruptcy law. Eight percent did not know or had no opinion on the issue.

The poll question is based on a case, Travelers Casualty and Surety Co. v. Pacific Gas and Electric Co., 167 Fed. Appx. 593, 593-94 (9th Cir. 2006), that was recently granted certiorari by the Supreme Court. The appeal, brought by Travelers Casualty and Surety Co. of America, seeks review of the Ninth Circuit's holding that creditors are only entitled to attorneys’ fees for litigating substantive state law issues (if provided for by contract), but not issues 'peculiar to bankruptcy law,' including disclosure statement and chapter 11 plan objections.

ABI members and members of the public were welcome to submit their response to the statement: “A party may not recover attorney fees pursuant to a contract or state statute where the issues involve federal bankruptcy law because only federal law may authorize such a recovery (Travelers Casualty v. PG&E; 9th Cir.).” The latest ABI Quick Poll was open for voting from Nov. 10-Nov. 16.

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.

###

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.

 

Charitable Contributions Should Be Deductible for Above-Median Debtors in Chapter 13 Plans According to New ABI Poll

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

 

CHARITABLE CONTRIBUTIONS SHOULD BE DEDUCTIBLE FOR ABOVE-MEDIAN DEBTORS IN CHAPTER 13 PLANS, ACCORDING TO NEW ABI POLL


November 13, 2006, Alexandria, Va.
— A majority (57 percent) of respondents in a recent American Bankruptcy Institute online poll disagreed that above-median income debtors in chapter 13 repayment plans could not deduct charitable contributions when calculating their disposable income under the means test. Forty-two percent of respondents “strongly disagreed” and another 15 percent “disagreed somewhat” that charitable contributions are not deductible for above-median income debtors in chapter 13 when calculating their disposable income under the means test.

Thirty-two percent agreed that above-median income debtors in chapter 13 repayment plans cannot deduct charitable contributions when calculating their disposable income under the means test. Twenty-four percent of respondents “agreed strongly,” while 8 percent “somewhat agreed” that charitable contributions cannot be deducted from an above-median income debtor’s disposable income under the means test. Twelve percent did not know or had no opinion on the issue.

The poll question is based on a case, In re Diagostino, in which a bankruptcy judge ruled in August that a couple who contributed $100 a month to their church could not deduct the contributions from their disposable income under the new bankruptcy law.

ABI members and members of the public were welcome to submit their response to the statement: “Above-median income debtors in chapter 13 repayment plans cannot deduct charitable contributions when calculating their disposable income under the means test (In re Diagostino).” The latest ABI Quick Poll +was open for voting from Nov. 2-Nov. 9.

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.

###

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 25th Annual Spring Meeting Set for April 12-15

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

ABI’S 25th ANNUAL SPRING MEETING SET FOR APRIL 12-15

 

January 4, 2007, Alexandria, Va. --More than 1,000 bankruptcy professionals will attend the American Bankruptcy Institute's (ABI) 25th Anniversary Annual Spring Meeting, to be held April 12-15, 2007, at the JW Marriott in Washington, D.C. ABI’s largest conference features a number of educational programs to address a wide array of timely insolvency issues, and will offer 15.5 hours of CLE credit, including 3.0 hours of ethics.

The special guest speaker at this year's meeting will be former U.S. Attorney General and Senator John Ashcroft. Ashcroft, author of Never Again: Securing America and Restoring Justice, will be featured at the Saturday, April 14, luncheon sponsored by the American College of Bankruptcy. Also featured will be Chris Gardner, whose rags-to-riches tale from homelessness to Wall Street is now inspiring millions in the current hit movie The Pursuit of Happyness, starring Will Smith. Gardner is the luncheon keynote on Friday, April 13.

Back for 2007 is the Bankruptcy Fundamentals: Nuts and Bolts for Young Practitioners program on Thursday, April 12. At this special day-long seminar for beginning insolvency practitioners, an outstanding faculty of judges and practitioners will explain the fundamentals of bankruptcy in separate consumer and business tracks.

The conference educational program session begin on April 13 with ABI's Eleventh Annual Great Debates, moderated by ABI's Vice President of EducationRobert J. Keach of Bernstein Shur (Portland, Maine). The event consists of three debates.  In Debate No. 1, 'Under §363, Property Can Be Sold Free and Clear of Claims,' Robert M. Fishman of Shaw Gussis Fishman, et al. LLC (Chicago) will debate Dillon E. Jackson of Foster Pepper PLLC (Seattle).

In Debate No. 2, 'Individual Chapter 7 Debtors Have an Absolute to Convert to Chapter 13,' Craig Goldblatt of WilmerHale LLP (Washington, D.C.) will debate G. Eric Brunstad, Jr. of Bingham McCutchen LLP (Hartford, Conn.). The issue is pending before the U.S. Supreme Court.

In Debate No. 3, 'Loan-to-Own DIP Lenders Should Not Be Allowed to Credit Bid,' will be debated by former ABI president Michael P. Richman of Foley & Lardner LLP (New York) and Thomas J. Salerno of Squire, Sanders & Dempsey, LLP (Phoenix).

Expert panels have been organized in concurrent sessions, allowing conference attendees to choose the ones that most interest them.  Speakers include bankruptcy judges, accountants, attorneys, turnaround managers, law professors, trustees and others.

'And Now for Something Completely Different: A Roundtable on Bankruptcy, Labor and Credit Issues and the New Congress' will feature panelists William A. Brandt, Jr. of Development Specialists, Inc. (Chicago), William A. Derrough of Jefferies & Company, Inc. (New York), Travis B. Plunkett of the Consumer Federation of America (Washington, D.C.) and Clifford J. White, III, Executive Office for U.S. Trustees (Washington, D.C.). A member of Congress will also join the panel.

Bankruptcy Judge Joan N. Feeney (Boston) will moderate the 'Judges’ Roundtable: Supreme Court Year in Review (and Other Appellate Issues),' featuring bankruptcy judges Kevin J. Carey (Wilmington, Del.), Robert E. Gerber (New York), Jeffery P. Hopkins (Cincinnati) and Gregg W. Zive (Reno, Nev.).

'Ready, Set, Go: A Practical Guide to Preparing and Filing a chapter 11 Case and Surviving the 'First Days'—Part I' will be moderated by Kathryn Pamenter of Goldberg Kohn Bell, et al, Ltd. (Chicago) and feature panelists Mark D. Collins of Richards, Layton & Finger, PA (Wilmington, Del.), Dallas M. Darland of TRG (Boston) and Tinamarie Feil of BMC Group (Seattle).

Part II of 'Ready, Set, Go: A Practical Guide to Preparing and Filing a Chapter 11 Case and Surviving the “First Days,” will feature Bankruptcy Judge Charles G. Case, II (Phoenix), Debra I. Grassgreen of Pachulski, Stang, Ziehl, et al. LLP (San Francisco), Bankruptcy Judge William C. Hillman (Boston), Melissa Kibler Knoll of Mesirow Financial Consulting, LLC (Chicago) and Charles F. Kuoni, III of Corporate Revitalization Partners, LLC (Chapel Hill, N.C.).

Moderated by David B. Stratton of Pepper Hamilton LLP (Wilmington, Del.), 'Real Estate Redux: What the New 'Dirt Cases' Will Look Like' will feature panelists Matthew Bordwin of Keen Consultants, LLC (Great Neck, N.Y.), David L. Bruck of Greenbaum, Rowe, Smith & Davis LLP (Woodbridge, N.J.), Ronald F. Greenspan of FTI Consulting, Inc. (Los Angeles) and Bankruptcy Judge Linda B. Riegle (Las Vegas).

'Key Restructuring Issues in Energy, Telecom and Utility Cases: Lessons for the New Cases from the Last Wave' will feature panelists John R. Castellano of AlixPartners LLP (New York), Jeremy Fagot of PA Consulting (Denver), Thomas E. Lauria of White & Case LLP (Miami), Nicholas P. Leone of The Blackstone Group (New York) and Matthew Mazzucchi of Houlihan Lokey Howard & Zukin (Minneapolis).

Moderator Dennis J. LeVine of Dennis LeVine & Associates, PA (Tampa, Fla.) will be joined by panelists Alane A. Becket of Becket & Lee, LLP (Malvern, Pa.), Bankruptcy Judge Eileen W. Hollowell (Tucson, Ariz.), W. Clarkson McDow of the Office of the U.S. Trustee, Region 4 (Columbia, S.C.) and Chapter 13 Trustee Gerald M. O’Donnell (Alexandria, Va.) for the 'Getting to the Finish Line: Current Issues in Chapter 13 Plan Confirmation, Implementation and Discharge' session.

'Equity Rises Again: Strategies for Interest-Holders in Chapter 11 Reorganizations and Sales' will be moderated by Jeffrey L. Jonas of Brown Rudnick Berlack Israels LLP (Boston) and feature panelists Lorie R. Beers of the Gordian Group, LLC (New York), Anders Maxwell of Peter J. Solomon Company, L.P. (New York), Thomas E. Patterson of Klee, Tuchin, Bogdanoff & Stern LLP (Los Angeles) and Paul N. Silverstein of AndrewsKurth LLP (New York).

Jo Ann J. Brightonof Kennedy Covington Lobdell & Hickman, LLP (Charlotte, N.C.) will moderate 'The Death of Deepening Insolvency? Corporate Governance for Troubled Companies after the Delaware Cases,' which will feature panelists Jonathan P. Friedland of Kirkland & Ellis LLP (Chicago), Prof. Michelle Morgan Harner of the University of Nebraska College of Law (Lincoln, Neb.), Marc D. Puntus of Miller Buckfire & Co., LLC (New York) and Russell C. Silberglied of Richards, Layton, Finger, PA (Wilmington, Del.).

'Health Care Business Restructurings and Liquidations after BAPCPA: Issues and Strategies for the 'New' Cases' will feature moderator Sarah B. Foster of Haynes and Boone, LLP (Austin, Texas) and panelists Bernard A. Katz of J.H. Cohn, LLP (Edison, N.J), Suzanne Koenig of SAK Management Services, LLC (Chicago), Hal F. Morris of the Office of the Texas Attorney General (Austin) and Nancy A. Peterman of Greenberg Traurig, LLP (Chicago).

Moderator Richard M. Meth of Day Pitney (Florham Park, N.J.) will be joined by panelists Barbara S. Gillers of Fried, Frank, Harris, Shriver & Jacobson, LLP (New York), Judith Greenstone Miller of Jaffe, Raitt, Heuer & Weiss, PC (Southfield, Mich.), Prof. Nancy B. Rapoport of the University of Houston Law Center (Houston) and Bankruptcy Judge Steven W. Rhodes (Detroit) for the plenary session 'The Application of State Ethics Rules in Bankruptcy: Are We Just Holding Our Noses and Looking the Other Way?'

The plenary session 'Selecting and Qualifying an Expert: Not Just Anyone Will Do' will be moderated by Robert J. Keach of Bernstein Shur (Portland, Maine) and feature panelists Bankruptcy Judge Stan Bernstein (Central Islip, N.Y.), Howard Brod Brownstein of NachmanHaysBrownstein, Inc. (Narberth, Pa.), Mark M. Maloney of King & Spalding LLP (Atlanta) and R. Scott Williams of Haskell Slaughter Young & Rediker, LLC (Birmingham, Ala.).

The Annual Spring Meeting has consistently been ABI's biggest conference with over 1,100 attendees. It is one of two annual conferences where ABI committees and subcommittees meet. More than 20 such committees will hold programs for CLE credit. The four-day conference offers approximately 15.5 hours credit, including 3.0 hours of ethics.The conference also provides attendees with numerous opportunities to network with their colleagues. 

The American Board of Certification (ABC) will offer its Consumer Bankruptcy, Business Bankruptcy and Creditors' Rights exams on Thursday, April 12, from 9:00 a.m.­5:00 p.m. at The JW Marriott. For details please visit the ABC web site at www.abcworld.org or e-mail [email protected].

Those who register by January 26 will receive a $100 discount on the late registration rate. To find out more information about ABI’s 25th Annual Spring Meeting, please visit www.abiworld.org/ASM07.

###

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.

Consumer Bankruptcies to Increase by 20 Percent or More in 2007 Survey Predicts

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

 

SURVEY PREDICTS CONSUMER BANKRUPTCIES TO INCREASE BY 20 PERCENT OR MORE IN 2007

January 19, 2007, Alexandria, Va. — A majority (61 percent) of respondents in a recent American Bankruptcy Institute online poll said that consumer bankruptcy filings will increase by at least 20 percent on a national basis in 2007. Twenty-seven percent of respondents thought that consumer bankruptcies will increase by 20 percent in 2007, while 34 percent thought that consumer filings would increase by more than 20 percent on a national basis.

Thirty-one percent of respondents thought that filings would only increase by 10 percent or less on a national basis in 2007. Twenty-two percent of respondents thought that consumer filings would increase by 10 percent, while nine percent of respondents thought that consumer bankruptcy totals would remain roughly the same as 2006. Eight percent did not know or had no opinion on the issue.

Consumer bankruptcies decreased dramatically last year to fewer than 600,000 cases, falling to their lowest levels since the 1980s, after the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). The decrease followed a spike in filings in 2005, when consumers rushed to file before BAPCPA was implemented on Oct. 17. Last year’s decline has led to much speculation as to whether consumer filings will return to pre-BAPCPA levels and the possible timeframe involved.

ABI members and members of the public were welcome to submit their response to the statement: “In 2007, consumer bankruptcy filings on a national basis will (A) stay roughly the same as in 2006; (B) increase by 10 percent; (C) increase by 20 percent; D) increase by more than 20 percent.   The latest ABI Quick Poll was open for voting from Jan. 12 - Jan. 18.

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.

###

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.

Former Attorney General John Ashcroft and Pursuit of Happyness Chris Gardner to Keynote ABIs 25th Annual Spring Meeting

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

 

FORMER ATTORNEY GENERAL JOHN ASHCROFT AND PURSUIT OF HAPPYNESS’ CHRIS GARDNER TO KEYNOTE ABI’S 25thANNUAL SPRING MEETING

January 30, 2007, Alexandria, Va. – Former U.S. Attorney General John Ashcroft and Chris Gardner, the inspiration for the acclaimed motion picture The Pursuit of Happyness, will be the keynote speakers for the American Bankruptcy Institute's (ABI) 25th Anniversary Annual Spring Meeting, to be held April 12-15 in Washington, D.C. ABI’s largest conference, the Annual Spring Meeting will take place at the JW Marriott in Washington, D.C., featuring a number of educational programs to address a wide array of timely insolvency issues.

Gardner, whose rags-to-riches tale from homelessness to Wall Street success is inspiring millions in the current hit movie The Pursuit of Happyness starring Will Smith. Gardner is the owner and CEO of Christopher Gardner International Holdings with offices in New York, Chicago and San Francisco. Drawing on his life’s journey from homelessness to Wall Street executive, Gardner is an avid motivational speaker and a passionate philanthropist committed to many charitable organizations. Gardner will speak at the luncheon keynote on Friday, April 13, sponsored by Foley & Lardner LLP and Jefferies & Company, Inc.

Ashcroft is the author of Never Again: Securing America and Restoring Justice, about his time as Attorney General during the 9/11 attacks. He will be featured as the keynote speaker at the Saturday, April 14, luncheon at the Annual Spring Meeting. Aschcrot is the second former U.S. Attorney General to address an ABI Annual Spring Meeting. Griffin Bell spoke at the 2000 meeting. Ashcroft’s distinguished career includes serving as governor of Missouri from 1985-93, U.S. Senator for Missouri from 1994-2001 and U.S. Attorney General from 2001-05. In May 2005, Ashcroft started his own lobbying firm, The Ashcroft Group, LLC, based in Washington, D.C., which provides strategic consulting services to a wide variety of clients. The luncheon is sponsored by the American College of Bankruptcy.

The Annual Spring Meeting has consistently been ABI's biggest conference with nearly 1,100 attendees expected to attend. The conference offers approximately 15.5 hours credit, including 3.0 hours of ethics.The conference also provides attendees with numerous opportunities to network with their colleagues. 

To find out more information about ABI’s 25th Annual Spring Meeting, please visit www.abiworld.org/ASM07.  Journalists interested in attending the conference programs, including the keynotes, should contact John Hartgen, ABI Public Affairs Manager, at 703-739-0800 or [email protected].

###

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.

 

BAPCPAs Mandatory Credit Counseling Requirement Does Not Apply to an Involuntary Bankruptcy According to Latest ABI Poll

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

 

BAPCPA’s MANDATORY CREDIT COUNSELING REQUIREMENT DOES NOT APPLY TO AN INVOLUNTARY BANKRUPTCY, ACCORDING TO LATEST ABI POLL

January 5, 2007, Alexandria, Va. — A majority (69 percent) of respondents in a recent American Bankruptcy Institute online poll agreed with a recent ruling that the credit counseling requirement of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) does not apply in the case of an involuntary bankruptcy. Fifty-seven percent of respondents “agreed strongly” and another 12 percent “somewhat agreed” that BAPCPA’s mandatory credit counseling requirement does not apply to involuntary bankruptcy cases.

Twenty-four percent disagreed that BAPCPA’s mandatory credit counseling requirement did not apply to involuntary bankruptcy cases. Sixteen percent of respondents “strongly disagreed,” while eight percent “somewhat disagreed” that the mandatory credit counseling requirement of BAPCPA does not apply to involuntary bankruptcy cases. Eight percent did not know or had no opinion on the issue.

The poll question is based on a recent case (In re Willis A. Sadler), in which a judge ruled that the mandatory credit counseling requirement under §109(h) of BAPCPA only applies to situations where the debtor voluntarily files the bankruptcy petition.

ABI members and members of the public were welcome to submit their response to the statement: “BAPCPA’s mandatory credit counseling requirement does not apply in the case of an involuntary bankruptcy.   The latest ABI Quick Poll was open for voting from Dec. 29 - Jan. 4.

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.

###

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 Lois Lupica to Serve as ABI Resident Scholar for Spring 2007 Semester

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

 

PROFESSOR LOIS LUPICA TO SERVE AS ABI RESIDENT SCHOLAR FOR SPRING 2007 SEMESTER

January 8, 2007, Alexandria, Va. — Prof. Lois R. Lupica, the Associate Dean for Faculty Development and Professor of Law at the University of Maine School of Law, will serve as the Robert M. Zinman ABI Resident Scholar for the Spring 2007 semester. Prof. Lupica will serve in ABI's Alexandria, Va., office from January to June, assisting ABI with its educational programming and in its role as the authoritative source of bankruptcy information for the Congress, media and public.

Prof. Lupica’s work focuses on corporate bankruptcy, consumer finance, securitization, property and contract theory, intellectual property in commerce, secured transactions and legal ethics. She is the reporter for the state of Maine’s revision of its Professional Responsibility Rules and is currently writing a consumer finance book, The Language of Money, with Karen Gross, a former bankruptcy professor and now president of Southern Vermont College.

A member of Maine’s faculty since 1995, Prof. Lupica teaches courses focused on secured transactions, bankruptcy, negotiation and legal ethics. She is the immediate-past chair of the American Association of Law Schools Section on Debtor & Creditors’ Rights, a member of the Board of Directors of Community Housing of Maine and a member of the Board of Directors of the University of Southern Maine Bioethics Center. Prior to her teaching career, Prof. Lupica worked from 1988-92 as an associate in the Business Practice Group of Arnold & Porter and is a member of the New York State Bar. She was the 2004 Law School recipient of the Faculty Senate Award for Excellence in Scholarship and received Honorable Mention in the 2005 National Award for Innovation and Excellence in Teaching Professionalism.  Prof. Lupica received her J.D. from Boston University in 1987 and her B.S. from Cornell University in 1981.

###

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.

 

Middle-Market Business Bankruptcies to Substantially Increase in 2007 According to Latest ABI Poll

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

MIDDLE-MARKET BUSINESS BANKRUPTCIES TO SUBSTANTIALLY INCREASE IN 2007, ACCORDING TO LATEST ABI POLL

January 12, 2007, Alexandria, Va. — A strong majority (71 percent) of respondents in a recent American Bankruptcy Institute online poll agreed that bankruptcies for middle-market businesses, such as private companies, family businesses and smaller listed companies, will substantially increase in 2007. Twenty-seven percent of respondents “agreed strongly” and another 44 percent “somewhat agreed” that middle-market business bankruptcies will substantially increase this year.

Twenty-one percent of respondents disagreed that middle-market business bankruptcies will substantially increase in 2007. Fifteen percent of respondents “disagreed somewhat,” while six percent “disagreed strongly” that business bankruptcies in the middle market will substantially increase in 2007. Seven percent did not know or had no opinion on the issue.

Business bankruptcies were down in 2006, owing to a strong economy, low interest rates and excess liquidity via hedge funds and other sources. The decline has led to much speculation on when the next restructuring “boom” will occur.

ABI members and members of the public were welcome to submit their response to the statement: “Business bankruptcies in the middle market will increase substantially in 2007.  The latest ABI Quick Poll was open for voting from Jan. 5 - Jan. 11.

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.

###

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.

Northwestern Wins Third Annual Corporate Restructuring Competition

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

 

NORTHWESTERN WINS THIRD ANNUAL CORPORATE RESTRUCTURING COMPETITION

January 24, 2007, Alexandria, Va. — A team from Northwestern University's Kellogg School of Management won the Bettina M. Whyte Trophy at the Third Annual ABI Corporate Restructuring Competition,   Jan. 19-21 in Chicago. The second-year MBA students also shared a $5,000 cash prize. Duke University Fuqua School of Business won the second place award of $3,000, with the University of California-Berkeley Haas School of Business receiving the $1,750 prize for third and Stanford University students receiving $1,250 for fourth place.

The competition, which is co-sponsored by ABI and Houlihan Lokey investment banking firm, provides 12 of the nation’s top MBA programs with a unique opportunity to learn by solving a real-world restructuring case problem. The students had a week to “solve” the problem and prepare comprehensive presentations showing their operational and financial plans, before panels of judges representing a mock board of directors and bondholders, with a final round before a mock first and second lienholders.

Past winners of the Corporate Restructuring Competition include the Stern Graduate School of Business of New York University and Stanford Graduate Business School. Other schools in this year’s competition in addition to the finalists and past years’ winners included the University of Chicago, Dartmouth University, University of Virginia, University of Pennsylvania, University of Michigan and Notre Dame University.

In addition to the case presentations, the competition featured a sponsored networking dinner keynoted by Prof. Douglas Baird (University of Chicago Law School). Nearly 150 Chicago-area restructuring professionals attended. An awards luncheon also followed the Final Round of the competition.

To find out more about the Corporate Restructuring Competition, please visit www.abiworld.org/crc.

###

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.

ABI Releases Updated Analysis of European Union Insolvency Regulations

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

 

ABI RELEASES UPDATED ANALYSIS OF EURPEAN UNION INSOLVENCY REGULATIONS

February 7, 2007, Alexandria, Va. — The American Bankruptcy Institute (ABI) has released the European Union Regulation on Insolvency Proceedings: An Introductory Analysis, Second Edition, an updated version to reflect the recent modifications to the EU Insolvency Regulation. The book was written by Prof. Bob Wessels of Vrije University in Amsterdam, who wrote the first edition in 2003 after the European Union’s insolvency regulation was implemented in May 2002, replacing a number of bilateral insolvency treaties.

The updated version of European Union Regulation on Insolvency Proceedings is a primer that covers jurisdictional issues, “winding-up” procedures such as the appointment of a liquidator, recognition of judgments, creditors’ rights and other provisions. This book is an invaluable resource for professionals who find themselves increasingly involved in cross-border insolvency cases.

The 170-page softbound manual is available for purchase at ABI’s Online Bookstore. Click here to order.

http://www.abiworld.org/source/orders/index.cfm?task=3&SKU=07_001

###

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.