Unsecured Trade Creditor Committee Meeting Minutes
2007 Annual Spring Meeting
The joint meeting of the
Unsecured Trade Creditors Committee and New Members Committee was held
on Saturday, April 14, 2007 at 4:00 p.m. The UTC Committee initially held a brief business meeting to
discuss the development of the a task force to review and
summarize UCC Article 2
remedies available to unsecured creditors, as well as
other potential remedies, such as state law lien / trust fund remedies
and common law remedies such as setoff and recoupment. Anyone interested in becoming a
part of this “Remedies Task Force” should contact Co-Chair
Deborah Thorne at firstname.lastname@example.org. Also
discussed in the business portion of the meeting was the Committee and
its ongoing projects. The Committee will meet for lunch
on December 6 at noon during the 2007 Winter Leadership Conference
to network and discuss on-going projects. Finally, the outgoing
Co-Chairs, Bruce Nathan and Doug Fox, were thanked for their valuable
service over the years and the incoming Co-Chairs, Jean Robertson and
Val Venable were welcomed aboard.
Debbie Thorne, Bruce
Nathan and Brian Shaw led an informal discussion concerning lesser known
remedies for unsecured creditors.
Issues such as setoff and recoupment, statutory and
common law liens, joint check agreements and various UCC Article 2
remedies were discussed.
2006 Annual Spring Meeting
The Unsecured Trade Creditors’ Committee
convened on Saturday, April 22, 2006, at the Annual Spring Meeting
in Washington, D.C. This was a joint
session with the UCC Committee. The
Co-Chairs Deborah Thorne and Bruce Nathan, called the meeting to order
and had a short discussion about UTC’s five active Task Forces,
Preference, Reclamation, Creditors’ Committee, Listserve and
The remainder of the meeting involved a panel
discussion on Bankruptcy Issues That Impact Trade Creditors in
Automotive Cases. The participants
included: Patrick Mears of Barnes &
Thornburg LLP, Jim Gillette of CSM Worldwide, Val Venable of GE Plastics
and Hideyuki Sakai of Sakai & Mimura, a Tokyo law firm.
2005 Winter Leadership
The meeting of the Unsecured Trade Creditors Committee was held on
Saturday, December 3, 2005 at 11:15 a.m. The Committee initially
held a brief business meeting to discuss the development of task forces
concerning creditors committees, preference defenses, preference law and
reclamation. These task forces would coordinate necessary
revisions to existing handbooks published through the committee, prepare
periodic case law updates in their respective subject areas and assist
in the preparation and planning of committee meeting programs.
Finally, committee members discussed alternatives for cultivating
greater participation by non-lawyer, credit and bankruptcy professionals
such as, but not limited to, credit managers.
Bruce Nathan led a spirited discussion concerning the new bankruptcy
code reclamation provisions and whether they in fact provide trade
creditors with any additional assurance of payment. This
discussion was followed by a similarly spirited discussion concerning
the new creditor committee provisions of the bankruptcy code and the
desirability of trade creditors to continue to serve on such
2004 Winter Leadership
The meeting of the Unsecured Trade Creditors Committee was held at
the Winter Leadership Conference in Scottdsale on Dec. 4, 2004. The
meeting was highlighted by a well-attended presentation concerning the
preservation of reclamation claims in the Fleming Companies,
Inc. bankruptcy case. The outstanding panel, describing what
began as an informal reclamation committee designed to preserve the
eroding treatment of reclamation claims proposed by the debtor and which
was ultimately recognized by the court as the Reclamation Committee,
included S. Curtis Marshall (Credit Manager for Sara Lee), Bernie Katz
and Kevin Clancy of J.H. Cohn LLP (the financial advisors to the
Reclamation Committee), Daniel Carrigan, Mark Friedman and Janice Duban
(partners at Piper Rudnick, the RC counsel) and Sandra Schirmang (Senior
Credit Manager for Kraft Foods Inc.). The panel described the trials and
tribulations encountered by the informal committee in organizing a
reaction and response to various first-day orders likely to impact the
rights of reclaiming creditors, conflicts arising with the unsecured
creditors’ committee as it became more and more clear that the
rights of reclaiming creditors were being reduced to non-priority
unsecured claims and the eventual recognition of a formal Reclamation
The presentation was followed by a brief committee meeting. Committee
Co-chair Deborah Thorne announced the pending Preference Defense
Handbook was in the process of a final edit draft, with a target
final publication date of no later than the 2005 Annual Spring Meeting.
Co-chairs Doug Fox, Deborah Thorne and Berry Spears are presently
discussing the compilation of a committee meeting presentation for the
Annual Spring Meeting in April 2005, in Washington, D.C. Please contact
one of them if you have any suggestions.
2004 Annual Spring
A combined meeting between the Unsecured Trade Creditor Committee and
Public Companies Committee was highlighted by a presentation concerning
claims-buying and selling. The outstanding panel presenting what was
officially entitled "Cutting-edge Business and Legal Issues Concerning
Buying and Selling of Trade Receivables and Distressed Non-Public Paper"
included Andrew I. Silfen of the Arent Fox Firm, with Matthew A. Gold of
Argo Partners undertaking the position of the claims buyer and Joseph E.
Myers, CCE of the Clear Thinking Group Inc., relating his experience as
a "claim seller."
The presentation was followed by a brief committee meeting. Committee
Member Bruce Nathan suggested that the committee renew its efforts to
take advantage of a committee listserve for sharing ideas, issues and
unpublished opinions. A summary explanation of how to access and utilize
the listserve is being reviewed and will be distributed in a few weeks.
Co-chairs Doug Fox, Deborah Thorne and Berry Spears are presently
discussing the compilation of a committee meeting presentation for the
Winter Leadership Conference in December 2004 in Scottsdale, Ariz.
Please contact one of them if you have any suggestions.
2003 Winter Leadership
The committee met on Saturday, Dec. 6, 2003, in connection with the
Winter Leadership Conference. The meeting was organized and moderated by
Co-Chair Deborah Thorne and was well attended. Co-Chair Barry Spears
also attended, but Doug Fox got stuck in a snowstorm in
The meeting began with a panel presentation by Unju Paik, Larry
Lettig and Sandra Schirmang discussing various interests and issues
arising during their participation on the K-Mart Unsecured Creditors
Committee. It was a very informative and well-received presentation,
generating discussion and questions on such issues as consignment,
reclamation, the formation of multiple committees, the critical vendor
motion and direct store delivery vendors.
After the panel presentation there were reports from various project
leaders. Deborah Thorne reported on the progress of the Preference
Defense Handbook, with Dave Wheeler agreeing to make a contribution
concerning non-statutory defenses. There was also some discussion about
alternatives to customary bankruptcy recovery efforts such as credit
insurance and claims trading. If any of the members of the UTCC are
interested in putting together a publication of "standard" critical
vendor agreements, credit insurance forms (U.S. vs. European) and claims
trading agreements, please contact Dave Wheeler (email@example.com).
There was also a great deal of discussion concerning committee growth
primarily through attracting non-legal professionals. Suggestions
included contacting the members of the Credit Research Foundation. The
possibility of establishing a joint list serve with NACM members was
2003 Annual Spring
The Ethics Committee and the Unsecured Trade Creditors Committee
conducted a joint meeting; attendance for the program exceeded 75. The
highlight of the meeting was a presentation entitled "Behind Closed
Doors: The Ethics and Mechanics of Committee Formation and Selection of
Professionals." The meeting was hosted by Richard M. Meth and Lynnette
R. Warman, co-chairs of their respective committees. The panelists were
Jay R. Indyke of Kronish, Lieb, Weiner & Hellman LLP (New York),
Joseph E. Myers, Managing Director of Clear Thinking Group
(Hillsborough, N.J.) and W. Clarkson McDow Jr., U.S. Trustee, Region 4
(Columbia, South Carolina). Rick Meth of Pitney, Hardin, Kipp &
Szuch LLP (Morristown, N.J.), was the moderator. The panel explored
in-depth such issues as the procedures for forming a committee, the
fiduciary duty of committee members, the ethical constraints upon
solicitation of committee members by professionals, contents of
presentations to the committee by professionals and issues that can
cause conflicts for committee members. A copy of the presentation
materials can be obtained by contacting Rick Meth directly at firstname.lastname@example.org.
A second meeting was held at the regularly scheduled time to address
business issues. This meeting was also well-attended, with about 30
people in attendance. The meeting began with reports from the various
David Wheeler has taken the position of publications director and has
finished his first issue. David and the two co-chairs of the committee
will be working with the ABI to transform the newsletter to an
electronic newsletter over the course of the next few months.
Doug Fox reported on behalf of Daren Brinkman regarding the proof of
claim manual, and advised it should be ready to publish by spring 2003.
He also reported on behalf of Dan Rallis' project, a manual on chapter
11 voting. Please contact him if you would like to help with that
project. Deborah Thorne is heading a project on a manual on preference
2002 Winter Leadership
The Unsecured Trade Creditors' Committee met on Saturday, Dec. 7,
2002, in connection with the Winter Leadership Conference. The meeting
was well-attended, with more than 40 people in attendance.
The meeting began with reports from the various project leaders.
There was a lively discussion about the status of an ad hoc committee,
led by Douglas Fox and Bruce Nathan, regarding their attempts to promote
more interaction and involvement between trade creditors and the UTC
committee. Doug reported that he and Rod Wheeland are making
arrangements for a reception to be held by the ABI UTCC and NACM-Oregon
at the NACM Legislative Conference in March 2003, at the Crystal Gateway
Marriott, located in Arlington, Va. Details of the conference and
reception will be in the next UTCC newsletter.
Steven Kortanek has stepped down as publications director. David
Wheeler will take on that position and will be in charge of editing four
(4) issues in 2003‹one per quarter. Dave and the two co-chairs of
the committee will be working with the ABI to transform the newsletter
to an electronic newsletter over the course of the next 12 months.
Daren Brinkman discussed his project, a proof-of-claim manual, and
advised it should be ready to publish by spring 2003. Dean Rallis
discussed his project, a manual on chapter 11 voting, and asked for
volunteers. Please contact him if you would like to help with that
project. Deborah Thorne will be heading a new project, a manual on
preference defenses. Please contact her if you are interested in that
Sandra Larratt-Smith (email@example.com) spoke
at the meeting about claims trading. She was very informative about the
claims trading process and provided thoughtful answers to the many
questions posed to her.
2002 Annual Spring
The UTC meeting at the Spring Leadership meeting was a great success.
There were more than thirty (30) attendees who participated in the
meeting and posed a myriad of questions to the speaker, Frank Monico.
Frank spoke about the Delaware rules and customs regarding the
appointment and activities of creditors' committees in chapter 11 cases.
His remarks sparked a spirited discussion about various issues germane
to unsecured creditors, such as reclamation programs and trends,
critical vendor payments and committee formation issues.
A number of people addressed the committee to discuss current projects,
as well as ongoing writing opportunities. Doug Fox and Bruce Nathan
discussed their ad hoc group, which is dedicated to increasing the
membership in the committee, and the ABI generally, of creditor
representatives. If anyone has suggestions which can be utilized by that
group, or would like to participate, please call Doug or Bruce. David
Wheeler advised the committee that the new preference manual will be
published next summer. He also reminded everyone to submit articles for
the newsletter to David, Steve Kortanek or Tom Hawley to ensure that we
can publish four (4) newsletters this year. Laura Portillo addressed the
committee regarding the proof of claim manual that she and her partner,
Daren Brinkman are working on. Please contact Daren if you would like to
participate on that committee. There was a lively discussion about new
projects, with several new projects selected for future development.
Please let Doug or Lynnette know of any projects that you may be
interested in getting started with the committee. John Penn also
addressed the committee regarding the ongoing drive to publish articles,
newsletters and manuals to provide information to our constituent
groups. Geoffrey Berman reminded all of us that the Last in Line column
is always looking for articles, and really appreciates hearing from the
UTC committee members.
2001 Winter Leadership
The December meeting of the UTC was outstanding, both in terms of the
number of people in attendance and the incredible response of those
attending. At the meeting, the former co-chairs, Ms. Judy Thompson and
Sandra Shirmang, were recognized and thanked for their past excellent
leadership. Doug Fox and Lynnette Warman were introduced as the new
We then discussed existing projects. Bruce Nathan gave an update on
the reclamation project and advised that the reclamation manual should
be published shortly. The committee discussed the fact that this is an
excellent publication and all of us should make a concerted effort to
send our clients as many of the reclamation manuals as possible. David
Wheeler gave an update on the preference project and has agreed to
circulate the finished product for final edits by committee members and
to submit it to the ABI review board. Lastly, we discussed the Ad Hoc
Task Force on Trade Creditor Involvement; Bruce Nathan agreed to act as
co-chair with Tom Grace on the project, and, Doug Fox agreed to join the
team. If anyone would like to join this project, please contact Bruce
As for new projects, the members agreed that expanding membership in
the Committee by adding new trade members is the primary goal of the
committee this year. To that end, a number of new projects have been
Laura Portello has agreed to head the subcommittee to organize a
cocktail reception at the NACM Legislative Conference. It is a wonderful
opportunity to meet senior credit people. Please contact her at (213)
532-8772 x207 to join her team, or contact Doug Fox for information
about attending the conference.
Daren Brinkman has agreed to chair a subcommittee to prepare a
"hands-on" guide for creditors about proofs of claim and avoiding the
common pitfalls. This is a great project. Contact Daren Brinkman if
Finally, Dean Rallis has agreed to head a subcommittee that will
prepare a "how-to" manual about the chapter 11 voting process. This
should be well received by trade creditors. Please contact Dean Rallis
if you are interested in getting involved in this project.
The next meeting of the UTC committee will be as part of a cocktail
party in March at the NACM Legislative Conference in Washington, D.C.,
and will be during the late afternoon of March 9th, 2002. The following
meeting of the committee will be at the ABI Annual Meeting April 18-21,
Thanks for getting the UTC Committee off to a great start for
2001 Annual Spring
Tom Grace presented the report of the Ad Hoc Task Force on Trade
Creditor Involvement and offered several new ideas for ways to get
National Association of Credit Managers (NACM) members and other trade
creditors more involved with ABI and with our committee. Among these was
a discussion of the new NACM newsletter format that is being used with a
number of the larger NACM units. Mr. Grace suggested that members of the
UTCC regularly contribute articles to that newsletter.
In Bruce Nathan's absence, Committee Co-chair Judy Thompson offered
the report of the Reclamation Task Force and indicated that the work is
complete on the Reclamation Manual and it is ready for final
printing but is on hold until the impact of the new legislation is
determined. There are certain provisions in the proposed legislation
that would need to be incorporated in the manual prior to its
Lynnette Warman, sub-chair of the Publications Committee, provided
the report on publications and commented on the recent and upcoming
issues of the committee newsletter. Members of the committee and credit
managers, whether or not members of the committee, were invited to
submit articles for publication. Ms. Warman explained that short
practical articles were preferred. She also invited the same group to
submit articles for Cracking the Code, the online practical-tips section
of ABI World located at abiworld.org/talkback/.
David Wheeler provided an update on the Preference Handbook,
which is going well. A draft has been completed and it is in the edit
stage. There may need to be adjustments made when the new law is passed.
We are hopeful the product will be ready for the December Winter
Leadership Conference or shortly thereafter.
Gene Chikowski presented a program entitled "Unsecured Creditors In
Bankruptcy Land: Bug or Windshield?...How to Avoid One and Become the
Other." The program covered pre-bankruptcy planning, first-day orders
(particularly as they affect critical vendors), avoidance litigation and
the liquidating chapter 11 that leads the committee in a control
The next regular meeting of the UTCC will be at the Winter Leadership
Conference, Nov. 29-Dec. 1, 2001.
2000 Winter Leadership
The meeting was conducted by co-chairs Judy D. Thompson of Poyner
& Spruill L.L.P. and Sandra Schirmang of Kraft Foods, Inc.
Congratulations and acknowledgment were given to Geoffrey Berman of
Development Specialists, Inc., for completion of the publication,
General Assignments for the Benefit of Creditors — A Practical
Guide. Copies of the handbook were distributed to all participants
at the ABI Winter Leadership Conference.
Bruce Nathan of Davidoff & Malito, L.L.P. reported on the
reclamation handbook project. The manuscript for the reclamation
handbook has been completed and submitted to the ABI Vice President for
Publications, Rick Meth. It is anticipated that the handbook will be
available for distribution during the first quarter of 2001 at the NACM
Lynnette Warman of Jenkins & Gilchrist was commended for her
continuing good work in the area of committee publications and for the
November 2000 issue of News & Views, the newsletter for the
ABI Unsecured Trade Creditor Committee. A call was issued to all
committee members and credit managers for articles for the next issue,
which is anticipated to be published in January or February, 2001.
The 2001 National Association for Credit Managers’ Legislative
Conference is scheduled for March 4-5, 2001. The Unsecured Trade
Creditors Committee is working under the leadership of Joseph Bodoff of
Bodoff & Associates to sponsor a social event. Jim Jenson of
Northwest Hardwoods and Steve Darr of KPMG Pete Marwick are assisting
The preference subcommittee has completed the first draft of its
manuscript for the preference handbook under the leadership of David
Wheeler of Moore & Van Allen. A request was issued for persons who
may be interested in assisting in editing the final version of the
handbook which is targeted for publication in spring, hopefully in time
for the ABI Annual Meeting in April or the NACM Credit Congress in
The continuing education program at our meeting was presented by
Lawrence Ahern, III, of Gullett, Sanford, Robinson & Martin and Kim
Martin Lewis of Dinsmore & Shohl. The program was titled "Current
Issues of Interest on Unsecured Creditors" and covered recent case
developments regarding payment of expenses (including attorney fee
expenses) of members of creditors’ committees, consignment issues,
reclamation and purchase money security interests. Copies of the
materials are available from Mr. Ahern at firstname.lastname@example.org.
The next regular meeting of the UTCC will be at the annual meeting
April 19-22, 2001 in Washington, D.C. For more information or to get
involved in committee activities send an email to Judy Thompson (Poyner
& Spruill L.L.P.) at email@example.com.,
or to Sandra Schirmang (Kraft Foods) at firstname.lastname@example.org.
Contributions to the newsletter should be addressed to Lynnette Warman
(Jenkins & Gilchrist) at email@example.com
2000 Annual Spring
The Unsecured Trade Creditors Committee met at the annual meeting on
April 29, 2000 in Washington, D.C.
The business portion of the meeting included:
- A report from Bruce Nathan (Davidoff & Malito) regarding the
Reclamation Manual being prepared by a task force which he chairs. The
manual is expected to go to publication in late summer and be available
for the mid-winter meeting.
- A report was given on the status of the Manual on Assignments for
the Benefit of Creditors being prepared by a task force chaired by
Geoffrey Berman (Development Specialists, Inc.). The draft of that
manual has been completed and is in final revisions and is also expected
to go to publication by late summer.
- Lynnette R. Warman (Jenkins & Gilchrist) reported regarding the
work of the publication committee. Copies of the most recent News and
Views issued in April, 2000 were distributed. Lynnette announced that
the next issue should be available in mid-summer and encouraged
submissions of short articles for the newsletter. Lynnette also
requested submissions for Cracking The Code from committee members.
Anyone with ideas for a topic or article should contact Lynnette Warman
- Doug Fox (Mannesman Rexroth Corp.) was cited for his excellent
contributions to News and Views.
- The presentation made by the UTCC at the NACM Legislative Conference
in Washington in March 2000 was reported on by Lynnette Warman. Ms.
Warman, Mark Bossi (Thompson Coburn) and Bruce Nathan gave a
presentation on revised Article 9 to those in attendance.
- Tom Grace (Locke Liddell & Sapp) provided an update on the work
of the Ad Hoc Task Force for Credit Manager Involvement. The Task Force
is developing a speaker's bureau which will be offered to all 50
affiliate NACM groups. The task force is also looking at the possibility
of a booth for our committee at the NACM Credit Congress and at ways to
increase our presence on the NACM Website.
- There was a discussion regarding the topic for our continuing
education program at the December ABI meeting. Larry MClatchey agreed to
arrange for a program with a topic to be determined by the end of
- There was a discussion regarding plans for the 2001 NACM Legislative
Conference and it was agreed that a cocktail reception would be
preferred to another educational program as that would provide more
opportunities for interactions between our committee members and NACM
members. A committee was formed to work on this comprised of Jim Jensen
(Northwest Hardwoods), Joe Bodoff (Schechtman, Levy & Halperin) and
Steve Darr (KPMG Peat Marwick).
- Plan s were completed for the Preference Manual project which will
be chaired by David Wheeler (Moore & Van Allen). The manual will be
written for non-attorneys and will review preference law and its
defenses and have a section for frequently asked questions and practice
tips. It will also contain an appendix of state preference laws.
- The continuing education program at the meeting was given by John
Penn (Haynes and Boone), Tom Grace and Jim Jensen. The program was
titled I'm Your Lawyer, But Not In This Case and generated a spirited
discussion regarding the representation by one attorney of multiple
creditors in a single case.
The next meeting of the UTCC will be at the mid-winter leadership
conference November 30 to December 2, 2000 in Scottsdale, Ariz. For more
information or to get involved in committee activities send an email to
Sandra Schirmang (Kraft Foods) at firstname.lastname@example.org or to Judy
Thompson (Poyner & Spruill) at email@example.com.
1999 Winter Leadership
The Unsecured Trade Creditors Committee met on Dec. 4, 1999. The
business portion of our meeting was abbreviated due to the excellent
program by Lynnette Warman (Jenkins & Gilchrist, Dallas) and Mark
Bossi (Thompson Coburn, St. Louis) titled, "Revisions to Article 9
Affecting Unsecured Trade Creditors." They reviewed the changes to
Article 9 of the Uniform Commercial Code (UCC) that will impact secured
and unsecured trade creditors, using a hypothetical example to walk us
through a typical UCC transaction under the new Code. It was evident
that we are all in for a confusing period of at least five years
following the June 2001 effective date of the changes as we cope with
the transition between the two systems.
On the business side, Geoffrey Berman (Development Specialists Inc.,
Los Angeles) advised that the Manual on Assignments for Benefit of
Creditors should be published in time for the Annual Spring Meeting.
Ms. Warman was congratulated for her excellent work on News and
Views, the UTC Committee newsletter. She is working to get it on as
many NACM web sites as possible. Sandra Schirmang (Kraft Foods Inc.,
Northfield, Ill.) announced that plans are well under way for a
presentation by the committee to be included in the agenda for the NACM
Legislative Conference in Washington in March. Bruce Nathan (Davidoff
& Malito LLP, New York), Ms. Warman and Mr. Bossi will give the
presentation on revised Article 9. Judy Thompson (Poyner & Spruill
LLP, Charlotte, N.C.) updated the committee on the progress of the
Preference Handbook project, which will explain preferences and the
defenses and provide a summary of state preference laws as well.
Finally, a call was made for topics for the "Cracking the Code"
Newsletter on ABI World (http://www.abiworld.org/talkback/). Anyone with
ideas for a topic for this practically oriented, 750-word online
newsletter should contact Ms. Thompson at firstname.lastname@example.org.
The next committee meeting will be in conjunction with the NACM
Legislative Conference in March.
1999 Annual Spring
Bruce Nathan presented an update of the activities of the Reclamation
Task Force. The outline of the Reclamation Manual was expected to be
done by mid-May for review and a rough draft will be completed by the
Lynnette Warman reported on the Publications Subcommittee and
distributed copies of the recently mailed committee newsletter. The next
regularly scheduled issue is set for publication on October 1, but
Warman indicated that it is possible to put out a summer issue if there
is sufficient interest. There was a general call for articles for the
committee newsletter and for the 1,000-word "Cracking the Code" online newsletter feature. It
was suggested that an article on pre-packaged chapter 11 would be
appropriate for the newsletter and that the committee needs to plan a
special piece on the Revised Article 9 and its impact on the unsecured
creditors in our publications during 2000.
Larry Ahern led a discussion regarding Uniform Commercial Code (UCC)
issues, including a possible project on revised Article 9. It was
suggested that the new Article 9 be placed on the ABI web page, or a
link to it. It was also suggested that ABI post a list of states that
have adopted revised Article 9. Revisions are apparently available on
the web at http://www.UPenn.edu. It was also pointed out that
Prof. Ray Warner has developed a list of the top 10 points you need to
know about revised Article 9.
There was serious discussion regarding the NACM Legislative
Conference scheduled for March 2000, and increasing the involvement of
credit managers in the committee. Joe Bodoff pointed out that the key is
to find out when each of the legislative conference meetings are
scheduled, including the Government Affairs Committee meeting in
particular, and then schedule our meeting around that one. He also
suggested that we have a topic of genuine interest to the credit
managers who will be attending the NACM Legislative Conference.
In the absence of Geoff Berman, ABI Vice President-Publications
Richard Meth reported on the status of the Handbook on Assignments for
the Benefit of Creditors. A draft of the handbook has been sent out for
review and is currently with Mike Williamson.
There was a discussion regarding a two-part project that would
include a survey of state preference laws and allowable defenses on the
various states, and a preference handbook that would review the elements
of preference law, the various defenses and how to calculate
Bradley Saxton of the Orlando office of Holland & Knight
presented a program on assignments for the benefits of creditors. Copies
of his presentation may be obtained by contacting him at
1998 Winter Leadership
Thirty-five bankruptcy and credit professionals attended the meeting,
and members gave reports on various projects. Lynnette Warman (Jenkens
& Gilchrist; Dallas), editor of "News and Views," the committee
newsletter, announced a new publication schedule to include newsletters
in mid-January, mid-April, late October and possibly July if
Reclamation Task Force—Bruce Nathan (Kreindler & Relkin PC;
New York) reported on the Task Force's progress. He said its work will
result in an an article in the ABI Law Review on global reclamation
programs that will explain the various strategies for handling
reclamation claims that have occurred in large cases, and will show the
various alternative ways the claims have been processed. In addition, he
is working on a handbook on reclamation similar to the Creditors'
Committee Manual that this committee produced a few years ago.
Credit/Sales Documentation—David Wheeler (Holmes & Thomson;
Charleston, S.C.) has revised and expanded the materials that credit
managers can use to obtain credit information on new accounts and
document and sales transactions. You may obtain a copy of these by
contacting him at (843) 724-1327 or e-mailing him at email@example.com.
Program—Steve Berman (Morse, Berman and Gomez; Tampa, Fla.)
presented a program titled "Reclamation: How to Prove Your Goods are
Still There!" He reviewed the requirements for reclamation and provided
an excellent summary of the case law in the areas of reclamation demand,
identification of goods, insolvency, possession of goods at time demand
is received, floating liens and burden of proof. If you would like a
copy of this five-page summary, please contact him at (813) 301-1000 or
e-mail him at firstname.lastname@example.org.
Creditor Participation—An ad-hoc task force comprised of Tom
Grace (Liddell Sapp; Dallas), Roseanne Matzat (Hahn & Hesson; New
York), Ms. Warman and Mr. Wheeler was formed to identify issues and
specific actions that ABI and the committee can take to increase the
involvement of our credit manager members. Co-chair Judy D. Thompson
(Poyner & Spruill; Charlotte, N.C.) outlined the prototype program
included in the ABI Southeast Bankruptcy Workshop in 1998. That program
expanded the traditional continuing education offerings that are aimed
primarily at attorneys and included a creditors' "overlay" program,
specifically aimed at non-attorneys, that addressed the issues facing
consumer and business creditors. That overlay program will be continued
at the 1999 ABI Southeast Bankruptcy Workshop, August 4-7, at the Ritz
Carlton on Amelia Island, Fla.
ABI Publications—The committee needs authors to write articles
of interest to unsecured trade creditors to be published in the ABI
Journal's "Last in Line" column, and "Cracking the Code," ABI's
newsletter on the Internet.