Press Releases

ABI Wins Prestigious Interactive Media Award

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

ABI WINS PRESTIGIOUS INTERACTIVE MEDIA AWARD

May 8, 2007, Alexandria, Va. — The American Bankruptcy Institute (ABI) earned the Bronze award from Horizon Interactive for its 'Honoring the Founders' video. The video won in Horizon’s “Best Video Documentary” category. The video showcases the efforts of Richard Gitlin, Judge William L. Norton, Jr., Bob Feidler, L.E. Creel and the late Harry Dixon to create ABI in 1982. It was originally unveiled at ABI’s 2006 Annual Spring Meeting to celebrate the beginning of ABI’s 25th anniversary.

The sixth annual Horizons international competition recognizes excellence in interactive media production among multi-media developers worldwide. The 2007 competition saw nearly 1000 entries from 24 countries and nearly all 50 states. An international panel of industry professionals evaluated 19 different categories ranging from online advertising to video games. The 2007 winning entries showcase the best developed interactive media solutions including Web sites, CDs and DVDs, online ads, video and more.

To view ABI’s award-winning video, “Honoring the Founders,” please go to http://www.abiworld.org/AM/Videos/HonoringTheFounders_Video.html. (Note that the video is about 12 minutes in total running time.)

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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 11,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.

ABIs Mid-Atlantic Bankruptcy Workshop Features Twelve Bankruptcy Judges

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

ABI’s MID-ATLANTIC BANKRUPTCY WORKSHOP FEATURES TWELVE BANKRUPTCY JUDGES

May 2, 2007, Alexandria, Va. — Twelve bankruptcy judges head the faculty for ABI’s Third Annual Mid-Atlantic Bankruptcy Workshop, to be held Aug. 9-11, 2007, at the Hyatt Regency Chesapeake Bay in Cambridge, Md. More than 250 attendees are expected to take part in the event, which brings together this region’s top insolvency professionals for three days of current developments and networking, with the opportunity to earn 7 CLE credits, including 1 hour of ethics.

Sessions at the Workshop include:

The “Choose Me! Ethical Considerations in Solicitation of Creditor Committee Engagements” plenary session will be moderated by Kelly Beaudin Stapleton of the USDOJ/Office of the U.S. Trustee (Philadelphia) and feature panelists Edward T. Gavin, IV, of NachmanHaysBrownstein, Inc. (Wilmington, Del.), Mark A. Gittelman of PNC Bank (Philadelphia), Steven K. Kortanek of Womble Carlyle Sandridge & Rice PLLC (Wilmington, Del.), Lawrence E. Oscar of Hahn Loeser & Parks LLP (Cleveland) and Kenneth A. Rosen of Lowenstein Sandler PC (Roseland, N.J.).

“BAPCPA Solutions: KERPs, MIPs and Workarounds” will be moderated by Bankruptcy Judge Christopher S. Sontchi (Wilmington, Del.) and joined by panelists Gregg Galardi of Skadden, Arps, Slate, Meagher & Flom LLP (Wilmington, Del.), Bruce Grohsgal of Pachulski Stang Ziehl Young Jones & Weintraub LLP (Wilmington, Del.), J. Scott Victor of Special Situations Group/SSG of NatCity Investment Banking (Conshohocken, Pa.) and Joel M. Walker of Duane Morris LLP (Pittsburgh).

Bankruptcy Judge Kevin J. Carey (Wilmington, Del.) will moderate the “Bring Me Your Tired, Your Poor…Chapter 15 and Cross-border Bankruptcy” session, featuring panelists 

Louis T. DeLucia of Greenberg Traurig, LLP (Florham Park, N.J.), Stacey Hightower of AlixPartners LLP (New York), James L. Patton, Jr. of Young Conaway Stargatt & Taylor, LLP (Wilmington, Del.) and Joseph Zagraniczny of Bond, Schoeneck & King, PLLC (Syracuse, N.Y. ).

“The Brave New World of Hedge Funds and Second-lien Issues” will be moderated by Bankruptcy Judge H. Clyde Pearson (Roanoke, Va.) and include panelists Lorie R. Beers of KPMG Corporate Finance LLC (New York), Theresa V. Brown-Edwards of Potter Anderson & Corroon LLP (Wilmington, Del.), Adam G. Landis of Landis Rath & Cobb LLP (Wilmington, Del.), Rachel Rawson of Jones Day (Cleveland) and Bradford J. Sandler of Adelman Lavine Gold and Levin, PC (Wilmington, Del.).

The “Consumer Bankruptcy: Is BAPCPA Working?” session will be moderated by Bankruptcy Judge Gloria M. Burns (Camden, N.J.) and feature panelists Chapter 13 Trustee Isabel C. Balboa (Cherry Hill, N.J.), Alane A. Becket of Becket & Lee, LLP (Malvern, Pa.) and Erin Brignola of Cooper Levenson (Bear, Del.).

Bankruptcy Judge Donald H. Steckroth (Newark, N.J.) will moderate the “Anything but Bankruptcy, Revisited: A Nonbankruptcy Case Study” session with panelists Brett D. Fallon of Morris James LLP (Wilmington, Del.), Robert Alan Kargen of White and Williams LLP (Philadelphia), Andrew C. Kassner of Drinker Biddle & Reath LLP (Philadelphia) and Gary Schildhorn of Eckert Seamans Cherin & Mellott, LLC (Philadelphia).

Bankruptcy Judge Stephen Raslavich (Philadelphia) will moderate a panel with Jack B. Fishman of Novare Inc., An Epiq Systems, Inc. Company (Crystal Lake, Ill.), Anne Marie P. Kelley of Dilworth Paxson LLP (Cherry Hill, N.J.), Geraldine E. Ponto of Gibbons P.C. (Newark, N.J.) and Robert J. Stearn, Jr. of Richards, Layton & Finger, PA (Wilmington, Del.) for the “Insult to Injury: Preferences and Avoidances Update” session.

 “Workers of the World, Unite! Pensions, Union Issues and MEPA Liability” will be moderated by Bankruptcy Judge David H. Adams (Norfolk, Va.) and include panelists Leon R. Barson of Pepper Hamilton LLP (Philadelphia), Michael L. Bernstein of Arnold & Porter LLP (Washington, D.C.), Tobey M. Daluz, of Ballard Spahr Andrews & Ingersoll, LLP (Wilmington, Del.) and Paul M. Singer of Reed Smith Sachnoff & Weaver (Pittsburgh).

Bankruptcy Judge WendelinI. Lipp (Greenbelt, Md.) will moderate “Problems in the Code” with panelists Michael G. Gallerizzo of Gebhardt & Smith LLP (Baltimore),  

F. Thomas Rafferty, III of Ober, Kaler, Grimes & Shriver, PC (Baltimore), Craig B. Young of Connolly Bove Lodge & Hutz LLP (Washington, D.C.).

The “When Circuits Collide” plenary session, to be moderated by former ABI Resident Scholar Prof. David A. Skeel, Jr of the University of Pennsylvania Law School (Philadelphia), will include bankruptcy judges from four different judicial circuits:  Judith K. Fitzgerald (Pittsburgh), Stephen S. Mitchell (Alexandria, Va.), Cecelia G. Morris (Poughkeepsie, N.Y.) and Carmen Kathryn Preston (Columbus, Ohio).

Program co-chairs for the workshop are Howard Brod Brownstein of NachmanHaysBrownstein, Inc. (Narberth, Pa.), Rudolph J. “Skip” DiMassa, Jr. of Duane Morris LLP (Philadelphia) and Laura Davis Jones of Pachulski, Stang, Ziehl, Young, Jones & Weintraub PC (Wilmington, Del.). Judicial co-chairs are Bankruptcy Judges Raymond T. Lyons (Trenton, N.J.) and Mary Walrath (Wilmington, Del.)

For more information about the Third Annual Mid-Atlantic Bankruptcy Workshop, call ABI at (703) 739-0800 or visit http://www.abiworld.org/MA07.

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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 11,500 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.

John W. Ames Named ABI President-Elect

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

JOHN W. AMES NAMED ABI PRESIDENT-ELECT

April 25, 2007 Alexandria, Va. The American Bankruptcy Institute (ABI) announces that John W. Ames of Greenebaum, Doll & McDonald PLLC (Louisville, Ky.)has been selected by the ABI Board of Directors to be President-Elect. He will become president for a one-year term, beginning with ABI’s Annual Spring Meeting in 2008. He has been an ABI member since 1985 and has served on the 60-member ABI Board of Directors since 1996 serving part of that time as Vice President of ABI’s Publications Committee and a member of the Executive Committee.

Ames is a member of Greenebaum, Doll & McDonald’s Tax and Finance Practice Group, and the Bankruptcy and Workout Team Co-Chair. He works exclusively in the business reorganization process, both in chapter 11s and state law work-outs. Ames represents debtors, both secured and unsecured creditors and has served as a trustee in addition to being appointed as creditors' committee counsel.He received his B.A. in International Affairs from the University of Louisville in 1967 and his J.D., magna cum laude, from the University of Louisville School of Law in 1973.

Ames is also the Past-Chairman of the Kentucky Bar Association Bankruptcy Section; Past-Chairman of the Louisville Bar Association Bankruptcy Committee; and Past Vice President of the American Board of Certification. He has been named one of the Best Lawyers in America (Bankruptcy) from 1989-2006 and is a Fellow of the American College of Bankruptcy, Class of 1999. Ames is also a former captain in the United States Marine Corps, serving from 1967-1972.

For a complete list of ABI’s officers and directors, please visit:

http://www.abiworld.org/Content/NavigationMenu/About_ABI/Board_of_Directors/Board_of_Directors.htm

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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 11,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.

Rate of U.S. Households Filing for Bankruptcy Plunges in 2006

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

RATE OF U.S. HOUSEHOLDS FILING FOR BANKRUPTCY PLUNGES IN 2006

May 9, 2007, Alexandria, Va. — The frequency of U.S. households filing for bankruptcy cooled dramatically in 2006 to one personal bankruptcy for every 208 households in calendar year 2006. The figure represents more than a threefold decrease from the number of households that filed for bankruptcy in calendar year 2005, in which there was an average of one filing for every 60 households.

The drop-off in the frequency of filings per household is consistent with the overall decrease in consumer bankruptcies in 2006, which fell to their lowest levels since the 1980s. The record levels experienced in 2005 are largely attributable to families looking to file for bankruptcy protection prior to the implementation the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Most provisions of the new law became effective on Oct. 17, 2005.

“Notwithstanding the drop in bankruptcy filings last year, many American families are still facing financial stress,” said ABI Executive Director Samuel J. Gerdano. “Rising levels of household debt and declining home values could lead to higher bankruptcies this year.”

The data can be viewed at http://www.abiworld.org/stats.  The table, based on data from the Administrative Office of the U.S. Courts (2005 nonbusiness bankruptcies as of December 31, 2006) and the U.S. Bureau of the Census (U.S. household unit estimates as of July 1, 2005), ranks households per filing by state and nationally. The five states with the highest bankruptcy household-per-filing rates are Tennessee, Georgia, Alabama, Indiana and Arkansas. States with the lowest rates include Maine, Hawaii, Vermont, Alaska, as well as the District of Columbia. By contrast, states with the highest bankruptcy household-per-filing rates in calendar year 2005 were Indiana, Ohio, Utah, Tennessee and Oklahoma. The states with the lowest rates in 2005 included South Carolina, Alaska, Hawaii and Vermont, as well as the District of Columbia.

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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 11,500 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 to Publish Monthly Bankruptcy Filing Data

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

ABI TO PUBLISH MONTHLY BANKRUPTCY FILING DATA

May 11, 2007 Alexandria, Va. —To satisfy the high demand for more current bankruptcy filing data among analysts, researchers and members of the news media, the American Bankruptcy Institute announced today that monthly filing statistics will now be accessible on the ABI World Web site. The data will be made available through a cooperative agreement of the National Bankruptcy Research Center (NBKRC) and Lundquist Consulting, Inc. of Burlingame, Calif.

ABI members and the public will have access to aggregate bankruptcy trends such as bankruptcy filings by month, growth rates by month and filings by chapter distribution each month. “We are excited about the opportunity to present reliable bankruptcy filing data on a more timely basis to the bankruptcy community,” said ABI Executive Director Samuel J. Gerdano.

NBKRC is the premier source for up-to-date bankruptcy statistics and data. It provides its subscribers with the most accurate, comprehensive and timely bankruptcy statistics in the financial industry. It is offered by the research firm Lundquist Consulting, Inc., the industry leader in bankruptcy statistics and analytics. 'We look forward to providing industry-leading bankruptcy statistics to ABI members,” said Chris Lundquist, founder of Lundquist Consulting, Inc. “The opportunity to offer analytics and in-depth research to a broader audience will enable innovative insight into the impact of bankruptcy.'

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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 11,500 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.

Dynamics of Restructuring Dealmaking on Display at ABIs Corporate Financial Restructuring Program

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

DYNAMICS OF RESTRUCTURING DEALMAKING ON DISPLAY AT ABI’S CORPORATE FINANCIAL RESTRUCTURING PROGRAM

May 23, 2007, Alexandria, Va. — The American Bankruptcy Institute (ABI) will hold its Seventh Annual Complex Financial Restructuring Program at the Four Seasons Hotel in Las Vegas, Sept. 6-7, 2007. The program offers a unique approach to understanding the role of investment bankers and financial advisors in insolvency and restructuring contexts. A case study will be presented that will dramatize the various perspectives of parties-in-interest as they examine strategic alternatives and seek the highest value for an insolvent company. Leaders in the industry will play the role of the major constituents as they work through the case study in this day-long program. The program is presented by ABI's Investment Banking Committee and will be held in conjunction with the ABI 15th Annual Southwest Bankruptcy Conference.

Presenting the case study will be Lorie R. Beers of KPMG Corporate Finance LLC (New York), Saul E. Burian of Houlihan Lokey (New York),  James D. Decker of Alvarez & Marsal, LLC (Atlanta) and Peter S. Kaufman of Gordian Group, LLC (New York).

The “Positions of the Case Constituents” portion of the program will be moderated by Saul Burian, with the panelists taking on the following roles:

  • CEO/Board of Directors: R. Neal Batson of Alston & Bird LLP (Atlanta)
  • Chief Restructuring Officer: Holly Felder Etlin of AlixPartners LLP (New York)
  • Counsel to Company: Paul Basta of Kirkland & Ellis LLP (New York)
  • First Lien Holders: Stephen Karotkin of Weil, Gotshal & Manges LLP (New York)
  • Second Lien Holders: Matthew Barr of Milbank, Tweed et al. (New York)
  • MAHI Noteholders: BerrySpears of Fulbright & Jaworski, LLP (Austin, Texas)
  • Trade Creditors: Thomas R. Califano of DLA Piper US LLP (New York)
  • Unions: Paula A. Schmeck of Thorp Reed & Armstrong, LLP (Pittsburgh)
  • Private Equity Group: Niv Harizman of Plainfield Asset Management LLC  (Greenwich, Conn.)

The first team presentation, “Advisors to the Second Lien Lenders,” will be moderated by James D. Decker that will include role playing by the following representative panelists:

  • Investment Banker: J. Scott Victor of Special Situations Group/SSG National City Investment Banking (Philadelphia)
  • Turnaround Professional: Howard Brod Brownstein, NachmanHaysBrownstein, Inc. (Philadelphia)
  • Lawyer: David S. Heller of Latham & Watkins LLP (Chicago)
  • Financing Source: Mitchell E. Drucker of CIT Corporate Finance (New York)

The second team presentation, “Advisors to the MAHI Noteholders” will be moderated by Lorie R. Beers and include these panelists in the following roles:

  • Investment Banker: William Q. Derrough of Jefferies & Company, Inc. (New York)
  • Hedge Fund: Patrick T. Collins of D.E. Shaw & Co. L.P. (New York)
  • Lawyer: Dion W. Hayes of McGuireWoods LLP (Richmond, Va.)
  • Financing Source: Joseph Catalano of FirstLight Financial Corporation (Old Greenwich, Conn.)

The final team presentation, “Advisors to the Private Equity Sponsor/Debtor,” will be moderated by Peter S. Kaufman of Gordian Group, LLC (New York) and will feature the following representative panelists:

  • Investment Banker: Flip Huffard of The Blackstone Group (New York)
  • Private Equity Group: Niv Harizman of Plainfield Asset Management LLC (Greenwich, Conn.)
  • Lawyer: Daniel C. Stewart of Vinson & Elkins LLP (Dallas)
  • Financing Source: Michael P. Keller of CapitalSource Finance LLC (Nashville, Tenn.)

For more information on ABI’s Seventh Annual Corporate Financial Restructuring Program, please visit www.abiworld.org/CFRP07.

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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 11,500 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

Todays Bankruptcy Headlines to be Addressed at ABIs Southwest Bankruptcy Conference September 6-8

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

TODAY’S BANKRUPTCY HEADLINES ADDRESSED AT ABI’S SOUTHWEST BANKRUPTCY CONFERENCE SEPTEMBER 6-8

May 22, 2007, Alexandria, Va. – More than 500 are expected to attend ABI’s 15th Annual Southwest Bankruptcy Conference, which will be held Sept. 6-8 at the Four Seasons Hotel in the heart of the Las Vegas Strip.  Programming for the conference features 10.5 CLE credit hours, including 1.5 hours of ethics. Program chairs for the conference are Jeffrey N. Pomerantz of Pachulski Stang Ziehl Young Jones & Weintraub LLP (Los Angeles) and Candace C. Carlyon of Shea & Carlyon Ltd. (Las Vegas). The Judicial Chair is Bankruptcy Judge Gregg W. Zive (Reno, Nev.). The sponsorship chair for the conference is Jeff Nerland of Corporate Revitalization Partners LLC (Santa Ana, Calif.)

Programs at the conference include:

The “Litigation Skills for Your Toolbox” will feature past ABI Presidents Andrew W. Caine of Pachulski Stang Ziehl, et al. (Los Angeles), Richardo I. Kilpatrick of Kilpatrick & Associates, PC (Auburn Hills, Mich.), Robin E. Phelan of Haynes and Boone, LLP (Dallas), Michael P. Richman of Foley & Lardner LLP (New York), Keith J. Shapiro of Greenberg Traurig, LLP (Chicago), Bankruptcy Judge Wesley W. Steen (Houston) and Bettina M. Whyte of MBIA Insurance Corporation (New York).

“What You Need to Know about Fraud, Restructuring and Liquidation in the Hedge Fund Industry” will feature panelists Juval Aviv of Interfor, Inc. (New York), Van C. Durrer, II of Skadden, Arps, Slate, Meagher & Flom LLP (Los Angeles), Jeff J. Marwil of Winston & Strawn LLP (Chicago), Henry R. Ritter of SoCal Advisors (Schaumburg, Ill.) and Stuart Sybersma of Deloitte (George Town, Cayman Islands).

Joseph A. Eisenberg of Jeffer, Mangels, Butler & Marmaro LLP (Los Angeles) will moderate the “We, The People: Planning for the High-End Individual Filer” session featuring panelists Ford Elsaesser of Elsaesser, Jarzabek, Anderson, et. al. (Sandpoint, Idaho) and Prof. G. Ray Warner of St. John's University School of Law (Jamaica, N.Y.).

The “Current Developments in Commercial Case Law” session will include panelists Bankruptcy Judge Leif M. Clark (San Antonio), Daniel S. Schechter of Loyola Law School (Los Alamitos, Calif.) and Evan D. Smiley of Weiland, Golden, Smiley, et al. (Costa Mesa, Calif.).

“Liquidating Agents and Examiners and Ombudsmen, Oh My!” will feature Ilene J. Lashinsky of the Office of the U.S. Trustee, District of Arizona (Phoenix), R. Todd Neilson of LECG, LLC (Los Angeles), Kenneth N. Peterson of Jenner & Block LLP (Chicago) and John C. Weitnauer of Alston & Bird, LLP (Atlanta).

The “First This Way, Then That Way – Conflicting Interpretations of BAPCPA” session includes panelists Bankruptcy Judge Eileen W. Hollowell (Tucson), Chapter 13 Trustee Kathleen A. Leavitt (Las Vegas) and Claire Ann Resop of Brennan, Steil & Basting, SC (Madison, Wis.).

John L. R. Dalberg of AndrewsKurth LLP (Los Angeles), Scott F. Gautier of Peitzman, Weg & Kempinsky LLP (Los Angeles), Bankruptcy Judge Dana L. Rasure (Tulsa, Okla.) and Bradley D. Sharp of Development Specialists, Inc. (Los Angeles) will participate on the “Executory Contract Issues in Commercial Cases” session.

“Here’s Dirt in Your Eye: Advanced Issues in Reorganization Cases Involving Homebuilders; Other Residential Projects; Developers and Contractors” features Bruce T. Beesley of Beckley Singleton, Chtd. (Reno, Nev.), Bankruptcy Judge Charles G. Case, II (Phoenix), Laurel E. Davis of Fennemore Craig, P.C. (Las Vegas) and Scott Peltz of RSM McGladrey (Chicago).

The “What Happened to My Money? Restructuring of Lenders and Loan Servicers” session will include Thomas J. Allison of Mesirow Financial Consulting, LLC (Chicago), Edward Burr of Sierra Consulting Group, LLC (Phoenix), Michael H. Goldstein of Stutman, Treister & Glatt, PC (Los Angeles) and Jefferey W. Dulberg of Pachulski Stang Ziehl, et al. (Los Angeles).

“Ethics: Negotiating the Sanction Minefield” features David M. Baker of Aurora Management Partners, Inc. (Hickory, N.C.), Scott A. Farrow of the Office of U.S. Trustee (Las Vegas), Bankruptcy Judge Mike K. Nakagawa (Las Vegas) and Nancy B. Rapoport of the UNLV School of Law (Las Vegas).

The “Small Business 11 Workshop” will include Steven M. Berman of Berman PLC (Tampa, Fla.), Jonathan A. Carson of Kurtzman Carson Consultants LLC; (El Segundo, Calif.), Bankruptcy Judge Bruce A. Markell (Las Vegas) and Lenard E. Schwartzer of Schwartzer & McPherson Law Firm (Las Vegas).

For more information on the Southwest Bankruptcy Conference, visit http://www.abiworld.org/SW07.

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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 11,500 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 Bankruptcy Filings Fall 15 Percent in April

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

CONSUMER BANKRUPTCY FILINGS FALL 15 PERCENT IN APRIL

May 14, 2007, Alexandria, Va. U.S. consumer bankruptcy filings fell 15 percent nationwide in April from the previous month, said the American Bankruptcy Institute (ABI). Relying on data from the National Bankruptcy Research Center (NBKRC), overall consumer filings totaled 62,489 in April, a figure that was up 33.6 percent from April 2006. Chapter 13 filings constituted 37 percent of all consumer cases in April, down slightly from earlier this year.   

“Though bankruptcy filings are elevated from a year ago, overall levels are still at about one-third the rate experienced before Congress changed the laws,” said Samuel J. Gerdano, ABI Executive Director.

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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.

NBKRC is an online research center that offers subscribers access to up-to-date research and statistics on bankruptcy filings. The database contains complete information dating back to 1995. For more information on NBKRC, please visit http://www.nbkrc.com.

 

*Definitions from Bankruptcy Overview: Issues, Law and Policy, by the American Bankruptcy Institute.

Chapter 7 of the Bankruptcy Code is available to both individual and business debtors. Its purpose is to achieve a fair distribution to creditors of the debtor’s available non-exempt property.  Unsecured debts not reaffirmed are discharged, providing a fresh financial start.  

Chapter 11 of the Bankruptcy Code is available for both business and consumer debtors. Its purpose is to rehabilitate a business as a going concern or reorganize an individual’s finances through a court-approved reorganization plan.

Chapter 12 of the Bankruptcy Code is designed to give special debt relief to a family farmer with regular income from farming. 

Chapter 13 of the Bankruptcy Code is available for an individual with regular income whose debts do not exceed specific amounts; it is typically used to budget some of the debtor’s future earnings under a plan through which unsecured creditors are paid in whole or in part.

Respondents Closely Divided over Bankruptcy Courts Having Jurisdction to Reopen Cases That Have Been Dismissed

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

RESPONDENTS CLOSELY DIVIDED OVER BANKRUPTCY COURTS HAVING JUSRISDICTION TO REOPEN CASES THAT HAVE BEEN DISMISSED IN LATEST ABI POLL

 

May 18, 2007, Alexandria, Va. —Results of a recent American Bankruptcy Institute online poll showed that respondents were closely divided over whether or not  bankruptcy courts have subject matter jurisdiction to reopen a bankruptcy case that has been dismissed. The largest number of respondents (45 percent) agreed that bankruptcy courts have jurisdiction under Bankruptcy Code §350(b) to reopen a bankruptcy case that has been dismissed and terminated pursuant to §349, even if the case has never been administered, completed or formally closed. Section 350(b) authorizes the bankruptcy court to reopen a case for various reasons including to 'administer assets, to accord relief to the debtor, or for other cause. 'Thirty-two percent “strongly agreed” and another 13 percent “agreed somewhat.”

Twenty-four percent of respondents did not think that bankruptcy courts have subject matter jurisdiction to reopen a case under §350(b) when that proceeding has been dismissed and terminated pursuant to §349. Nineteen percent “strongly disagreed,” while another 5 percent “disagreed somewhat” that under §350(b) the courts had subject matter jurisdiction to reopen a case. Twenty-eight percent of respondents “did not know or had no opinion.”

ABI members and members of the public were welcome to submit their response to the statement: “Bankruptcy courts have subject matter jurisdiction under §350(b) to reopen a bankruptcy case that has been dismissed and terminated pursuant to §349, notwithstanding the fact that the case has never been administered, completed, or formally closed.” The latest ABI Quick Poll was open to the public for voting from April 27-May 10.

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 nearly 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 Poll Dishonest Chapter 7 Debtors Do Not Have an Absolute Right to Convert Their Bankruptcy Cases to Chapter 13

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

ABI POLL: DISHONEST CHAPTER 7 DEBTORS DO NOT HAVE AN ABSOLUTE RIGHT TO CONVERT
THEIR BANKRUPTCY CASES TO CHAPTER 13

May 29, 2007, Alexandria, Va. —A majority of respondents to ABI’s latest online poll agreed (72 percent) that chapter 7 debtors do not have an absolute right under §706(a) to convert to chapter 13 bankruptcy proceedings if there is pre-petition bad faith conduct. Fifty-three percent “agreed strongly,” while 19 percent “somewhat agreed” that chapter 7 debtors do not have an absolute right to convert to chapter 13 if they acted in bad faith during the pre-petition process.

Eighteen percent of respondents, however, thought that chapter 7 debtors did have an absolute right under §706(a) to convert to a chapter 13 proceeding, even if there was pre-petition bad faith conduct.  Seventeen percent “strongly disagreed” that chapter 7 debtors do not have an absolute right to convert to chapter 13 if they acted in bad faith during the pre-petition process, while 1 percent “disagreed somewhat.” Eight percent of the respondents did not know or had no opinion on the issue.

The poll is based on Marrama v. Citizens Bank of Massachusetts, No. 05-996, 549 U.S. ___ (2007), in which the Supreme Court held in a 5-4 decision that a misbehaving chapter 7 debtor does not have an absolute right to convert his case to chapter 13. The Supreme Court stated that a debtor whose case could be converted or dismissed for cause under 11 U.S.C. Sec. 1307(c) had forfeited the right to proceed under chapter 13 and was not a eligible to convert to chapter 13.

ABI members and members of the public were welcome to submit their response to the statement: “Chapter 7 debtors do not have an absolute right under §706(a) to convert to chapter 13 if there is pre-petition bad faith conduct. (Marrama v. Citizens Bank and In re Euro-American Lodging).” The latest ABI Quick Poll was open to the public for voting from May 10-24.

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 nearly 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.