March Consumer Bankrutcy Filings Increase 41 Percent Over Last Year
Contact:
(703) 739-0800
[email protected]
MARCH CONSUMER BANKRUPTCY FILINGS INCREASE 41 PERCENT OVER LAST YEAR
April 2,
2009, Alexandria,
Va.— U.S. consumer bankruptcy filings increased 41 percent
nationwide in March from the same period a year ago, according to the
American Bankruptcy Institute (ABI), relying on data from the National
Bankruptcy Research Center (NBKRC). The overall March consumer filing
total of 121,413 represented nearly a 24 percent increase from the
February total of 98,344. Chapter 13 filings constituted 25 percent of
all consumer cases in March, nearly a 5 percent decrease from
February.
“Given the great financial stress facing U.S. households today,
the March numbers are consistent with our prediction of over 1.4 million
consumer filings for 2009,” said ABI Executive Director
Samuel J.
Gerdano.
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*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.Francis A. Monaco Elected to ABIs Board of Directors
Contact: John Hartgen
(703) 739-0800
[email protected]
FRANCIS A. MONACO ELECTED TO ABI’S BOARD OF DIRECTORS
April 10, 2009, Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Francis A. Monaco, Jr.of Womble Carlyle Sandridge & Rice PLLC (Wilmington, Del.) has been elected to ABI’s Board of Directors. An ABI member since 1990, Monaco is a member of the advisory board for ABI’s Mid Atlantic Bankruptcy Workshop and co-chairs ABI’s Fraud Task Force. He will serve a term of three years on the 60-member ABI Board of Directors.
A partner at Womble Carlyle Sandridge & Rice PLLC in Wilmington, Del., Monaco’s practice consists largely of representing debtors, creditor committees, individual creditors and other interest-holders, including secured lenders, indenture trustees, government agencies, trade creditors, equipment lessors, landlords, asset purchasers, bondholders and stockholders. Monaco has certifications in business bankruptcy and mediation and is currently a member of the board of directors of the American Board of Certification. Monaco is a member of the Delaware and Pennsylvania Bar Associations and the American Bar Association. He received his B.A. from the University of Delaware with high honors and received his J.D. from Villanova Law School.
The complete list of directors and officers is available at 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 12,000 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.
Lorie R. Beers Elected to ABIs Board of Directors
Contact: John Hartgen
(703) 739-0800
[email protected]
LORIE R. BEERS ELECTED TO ABI’S BOARD OF DIRECTORS
April 10, 2009, Alexandria, Va. — The
American Bankruptcy Institute (ABI) announces that Lorie R. Beers of KPMG
Corporate Finance LLP (
Beers is a managing
partner with KPMG Corporate Finance LLC in
The complete list of directors and officers is available at 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 12,000 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.
Richard M. Meth Elected to ABIs Board of Directors
Contact: John Hartgen
(703) 739-0800
[email protected]
RICHARD M. METH ELECTED TO ABI’S BOARD OF DIRECTORS
April 10, 2009, Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Richard M. Meth of Day Pitney LLP (Morristown, N.J.) has been elected to ABI’s Board of Directors. An ABI member since 1985 and former ABI Vice President- Publications, Meth recently served as co-chair of ABI’s Ethics Committee, was on the steering committee for ABI’s Bankruptcy Reform Study Project and has previously testified before the National Bankruptcy Review Commission on ABI’s behalf. Hewill serve a term of three years on the 60-member ABI Board of Directors.
Meth is a partner with Day Pitney LLP in Morristown, N.J., where he is a member of the firm’s financial services department, working in its bankruptcy and creditors’ rights practice group. He is currently chair of the ABA’s Bankruptcy Appeals Subcommittee of the Business Bankruptcy Committee of the Business Law Section and sits on the Advisory Board of ABI’s Views from the Bench program. He previously served as chair of the Subcommittee on Labor & Employment Law. Meth has been named as a “New Jersey Super Lawyer” from 2005-09 as a leading bankruptcy and creditors’ rights attorney, and has also been named to Who’s Who Legal USA and Insolvency & Restructuring 2006. He received his B.A. magna cum laude from Tufts University and his J.D. from Georgetown University Law Center.
The complete list of directors and officers is available at 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 12,000 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.
New Officers and Board Members Elected During ABIs 27th Annual Spring Meeting
Contact: John Hartgen
703-739-0800
[email protected]
NEW OFFICERS AND BOARD MEMBERS ELECTED DURING ABI’S 27TH ANNUAL SPRING MEETING
April 7, 2009, Alexandria, Va. — The following officers and members of the Board of Directors of the American Bankruptcy Institute (ABI) were elected to leadership positions at ABI’s 27th Annual Spring Meeting, held April 1-4 in Washington, D.C.:
Robert J. Keach of Bernstein Shur (Portland, Maine) becomes ABI President for a one-year term, succeeding John W. Ames of Greenebaum, Doll & McDonald PLLC (Louisville, Ky.), who now assumes the position of Immediate-Past President. Melissa Kibler Knoll of Mesirow Financial Consulting, LLC (Chicago) was named President-Elect, to become President in April 2010. Reggie Jackson of Vorys, Sater, Seymour and Pease LLP (Columbus, Ohio) succeeds Judge Wesley Steen of the U.S. Bankruptcy Court of the Southern District of Texas (Houston) as Chairman of the Board for a one-year term.
Brian L. Shaw of Shaw Gussis Fishman Glantz Wolfson & Towbin LLC (Chicago) was named to a two-year term as Vice President-Membership, succeeding Kibler Knoll. Prof. Margaret Howard of Washington & Lee Law School (Lexington, Va.) succeeded Bankruptcy Judge Steven W. Rhodes (Detroit) to become Vice President-Research Grants. Ian G. Williams of Bryan Cave LLP (London) was named to a two-year term as Vice President-International, succeeding Josefina Fernandez McEvoyof Fox Rothschild LLP (Los Angeles). Patricia A. Redmond of Stearns, Weaver, et al. (Miami) was named to a two-year term as Vice President-Development, succeeding Anthony H.N. Schnellingof Bridge Associates LLC (New York), who became an At-Large member of the executive committee. Lynette Warmanof Hunton & Williams LLP (Dallas) was also elected to become an At-Large member of the executive committee. Rebecca A. Roof of AlixPartners LLC (New York) will remain Treasurer and Geoffrey L. Berman of Development Specialists, Inc. (Los Angeles) will remain Vice President—Publications after both were renominated to serve second terms as ABI Officers.
Seven new members were elected to the ABI Board of Directors: Alane A. Becket of Becket & Lee, LLP (Malvern, Pa.), Lorie R. Beers of KPMG Corporate Finance LLP (New York), Scott F. Gautier of Peitzman, Weg & Kempinsky LLP (Los Angeles), Dennis J. LeVine of Dennis LeVine & Associates, PA (Tampa, Fla.), Richard M. Meth of Day Pitney LLP (Morristown, N.J.), Francis A. Monaco, Jr. of Womble Carlyle Sandridge & Rice PLLC (Wilmington, Del.) and J. Scott Victor of National City Capital Markets (West Conshohocken, Pa.).
There were 13 directors renominated to serve three-year terms (to 2012): Rudy J. Cerone of McGlinchey Stafford, PLLC (New Orleans), Jonathan P. Friedland of Levenfeld Pearlstein LLC (Chicago), Prof. Margaret Howard of Washington & Lee Law School (Lexington, Va.), Robert J. Keach of Bernstein, Shur, Sawyer & Nelson PA (Portland, Maine), Patricia A. Redmond of Stearns, Weaver, et al. (Miami), Claire Ann Resop of von Briesen & Roper SC (Madison, Wis.), Tracy C. Sandler of Osler, Hoskins & Harcourt LLP (Toronto), Anthony H.N. Schnelling of Bridge Associates LLC (New York), James Patrick Shea of Shea & Carlyon, Ltd. (Las Vegas), Lynnette R. Warman of Hunton & Williams LLP (Dallas), Bankruptcy Judge Eugene R. Wedoff (N.D. Ill.; Chicago) and Ian G. Williams of Bryan Cave LLP (London).
There are 60 members of the ABI Board of Directors. The complete list of directors and officers is available at http://www.abiworld.org/Content/NavigationMenu/AboutABI/BoardofDirectors/Board_of_Directors1.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 12,000 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.
Mortgage Cramdown Debate Now Featured on ABIs Bankruptcy Town Hall Website
Contact: John Hartgen
(703) 739-0800
[email protected]
MORTGAGE CRAMDOWN DEBATE NOW FEATURED ON ABI’S “BANKRUPTCY TOWN HALL” WEB SITE
March 26, 2009, Alexandria, Va. — The newly-released second issue of American Bankruptcy Institute’s Town Hall Web site (townhall.abiworld.org) examines the ongoing debate about whether the Bankruptcy Code should be changed to allow bankruptcy judges to modify, or “cram down,” the terms of a primary mortgage of a debtor filing for chapter 13. As foreclosures across the United States continue to increase amid the housing downturn, the House of Representatives has passed legislation to change the Bankruptcy Code to allow judges to modify the terms of a chapter 13 debtor’s primary mortgage. Proponents of the legislation point to it as a potential solution to stem the rising tide of foreclosures, while opponents think that such a change would lead to increased borrowing costs, reduce the number of potential homebuyers and deepen the housing downturn.
ABI’s Town Hall Web site was established to provide a forum for both practitioners and the public to read and share their views on current bankruptcy topics that are being debated on Capitol Hill and throughout the nation. The site features commentary on the issues from experts on both sides of the debate, and users visiting the site are encouraged to add their opinions as well. The site’s first issue provides both sides of the debate over whether the federal government should bail out U.S. auto manufacturers or allow the companies to file for bankruptcy. ABI’s Bankruptcy Town Hall site will be updated with new issues and commentary throughout the year as new developments arise affecting consumer or business bankruptcies.
Please click here to view townhall.abiworld.org.
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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 12,000 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.
Alane A. Becket Elected to ABIs Board of Directors
Contact: John Hartgen
(703) 739-0800
[email protected]
ALANE A. BECKET ELECTED TO ABI’S BOARD OF DIRECTORS
April 10, 2009, Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Alane A. Becketof Becket & Lee, LLP (Malvern, Pa.) has been elected to ABI’s Board of Directors. An ABI member since 1997 and frequent speaker at ABI conferences, Becket is the co-chair of the Consumer Bankruptcy Committee, served as an advisor to the Consumer Education Center on ABIWorld and has been a contributing editor to the ABI Journal. Shewill serve a term of three years on the 60-member ABI Board of Directors.
Becket is admitted to practice in Pennsylvania and New Jersey and has represented creditors and debt purchasers in commercial and bankruptcy matters and Fair Dept Collection Practices Act (FDCPA) defense. She is a member of the Conferences of Chapter 13 Trustees, Bankruptcy Trustees, Consumer Bankers, DBA International and Retail Collection Attorneys. She has written and lectured extensively on consumer collection and bankruptcy practices, and, most recently, on the effect of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 on unsecured creditors. Becket graduated from Pennsylvania State University and Widener University School of Law.
The complete list of directors and officers is available at 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 12,000 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.
Dennis J. LeVine Elected to ABIs Board of Directors
Contact: John Hartgen
(703) 739-0800
[email protected]
DENNIS J. LEVINE ELECTED TO ABI’S BOARD OF DIRECTORS
April 10, 2009, Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Dennis J. LeVineof Dennis LeVine & Associates, PA (Tampa, Fla.) has been elected to ABI’s Board of Directors. An ABI member since 1990 and former co-chair of ABI’s Consumer Bankruptcy Committee, LeVine is also a frequent contributor of consumer bankruptcy articles to the ABI Journal. He is a former co-chair of ABI’s Southeast Bankruptcy Workshop. LeVine will serve a term of three years on the 60-member ABI Board of Directors.
LeVine is the founder and president of Dennis LeVine & Associates, PA in Tampa, Fla., where he primarily represents creditors and chapter 7 trustees in all bankruptcy courts and creditors in commercial and consumer collection actions. He is Board Certified in both Consumer Bankruptcy Law and Business Bankruptcy Law by the American Board of Certification. LeVine is a past president of the Tampa Bay Bankruptcy Bar Association and an active member the Florida Bar’s Business Law Section. LeVine received his undergraduate degree Phi Beta Kappa from Tulane University and received his J.D. from George Washington University’s National Law Center.
The complete list of directors and officers is available at 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 12,000 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.
Scott F. Gautier Elected to ABIs Board of Directors
Contact: John Hartgen
(703) 739-0800
[email protected]
SCOTT F. GAUTIER ELECTED TO ABI’S BOARD OF DIRECTORS
April 10, 2009, Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Scott F. Gautier of Peitzman, Weg & Kempinsky LLP (Los Angeles) has been elected to ABI’s Board of Directors. An ABI member since 2001 and a frequent speaker on bankruptcy and insolvency issues, Gautier is also the national editor for ABI’s circuit court updates, which are posted on the ABIWorld Web site. He is a former co-chair of ABI’s Bankruptcy Battleground West CLE program. Gautier will serve a term of three years on the 60-member ABI Board of Directors.
Gautier is a partner with Peitzman, Weg & Kempinsky LLP in Los Angeles, where he is focused on bankruptcy related representation of debtors, creditors, committees, equityholders and acquirers. He is a member of the Financial Lawyers Conference, American Bar Association and Los Angeles County Bar Association. Gautier was named in Chambers USA “America's Leading Lawyers for Business' listings for both 2007 and 2008 and as one of Southern California's 'Rising Stars” by Law & Politics and Los Angeles Magazine from 2005-08. He received his B.A./B.S. from Ohio State University College and his J.D. from the Chicago-Kent College of Law.
The complete list of directors and officers is available at 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 12,000 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.
Robert J. Keach Named ABI President
Contact: John Hartgen
(703) 739-0800
[email protected]
ROBERT J. KEACH NAMED ABI PRESIDENT
April 10, 2009 Alexandria, Va. — The American Bankruptcy Institute (ABI) announces that Robert J. Keach of Bernstein Shur (Portland, Maine) has been selected by the ABI Board of Directors to be President for the 2009-10 term. He succeeds John W. Ames of Greenebaum, Doll & McDonald PLLC (Louisville, Ky.) and will serve a one-year term that began at ABI’s 27th Annual Spring Meeting held on April 1-4 in Washington, D.C. An ABI member since 1985, Keach has served as ABI’s Vice President–Education, a co-chair of ABI's Business Reorganization Committee and as a member of the Executive Committee.
Keach is a shareholder at Bernstein Shur, where he practices in the area of bankruptcy, reorganization and workouts. His practice focuses on the representation of various parties in workouts and bankruptcy cases including debtors, creditors, creditors’ committees, lessors and third parties acquiring troubled companies and/or their assets.
Keach is also a member of the American Bar Association's Committee on Enforcement of Creditors' Rights as well as its sections on business, banking and corporations, real estate and litigation. He is included in the Best Lawyers in America, is a Fellow of the American College of Bankruptcy and is a member of the Local Rules Committee for the U.S. Bankruptcy Court for the District of Maine.
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 12,000 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.