ABI Leadership Profile: Robert R. Keach (President-Elect)
The subject of our latest ABI Leadership Profile is Robert J. Keach, President-Elect of ABI. Bob will take over the office of President at the conclusion of the 27th Annual Spring Meeting, which is being held from April 1-4, 2009 in National Harbor, Maryland.
Bob is chair of Bernstein Shur's Business Restructuring and Insolvency Practice Group in Portland, Maine, and is a member of the firm's Management Committee. 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. Bob has also appeared as a panelist on national bankruptcy, lender liability and creditors' rights programs, and is the author of several articles on bankruptcy and creditors' rights.
Bob has been recognized by Best Lawyers in America for more than ten years for his work in bankruptcy and creditor-debtor rights, and by Chambers USA in their Corporate/M&A section, and is AV-rated by Martindale-Hubbell. He graduated from the University of Maine Law School, where he was Research Editor of the Maine Law Review, and he received his B.A. magna cum laude from the University of Vermont.
How did you get involved in ABI?
I first became a member of ABI in 1986 because I wanted to get the "green sheets," the ABI newsletter, which even then was a wealth of information. (It was by any measure a pretty modest ambition.) Upon attending my first annual meeting, I became involved in a project on partner and partnership bankruptcy for the Business Reorganization committee, which was then chaired, as I recall, by two great lawyers, Phil Hendel and Christian Onsager. My first ABI project was a committee "white paper" on partner and partnership bankruptcy, a hot topic at the time given the number of real estate cases and workouts. About the same time, I became involved in ABI's annual Northeast Bankruptcy Conference. Eventually, I would become a co-chair of the Business Reorganization Committee and one of the regional co-chairs of the Northeast Bankruptcy Conference, before eventually being appointed to the Board of Directors and then succeeding the Hon. Neil Olack as the Vice President for Education. All along the way I was fortunate to work with great people, like Geoff Berman, Tony Schnelling, Rick Mikels and Joe Bodoff, a great ABI staff, and many others. The rest, as they say, is history.
What positions have you held in ABI over the years?
A few: Co-chair of the Business Reorganization Committee; Regional Co-chair for the ABI Northeast Bankruptcy Conference; Member of the Board of Directors, Vice President for Education (which also placed me on the Executive Committee) and, now, President-Elect.
How has your association with ABI helped you in your practice?
ABI has been an immense help in building and sustaining my practice. From a relatively smaller market city, I could never have established what has become a regional and, in some respects, national, practice without my involvement with ABI. ABI has given me visibility I could not have obtained elsewhere, a national network of referral sources (and good friends), and a trusted colleague in almost every state that I can turn to to help my clients and me. In addition, there is no question that the quality of ABI's educational materials and programs, publications and other resources has also made me a better lawyer. I have often said that I am a "poster child" for what the ABI can do for one of its members if the member is willing to put in a little effort in return, and I sincerely mean that.
What are your goals for your term as President of ABI?
First, to continue the great work of my predecessor, John Ames, and the great past presidents who came before us. It is frankly humbling to look at the list of past presidents of this organization. Second, I am becoming president at the time of an unprecedented financial downturn, which, while providing many opportunities for our members professionally, means that ABI will need to remain on the cutting edge in terms of providing a forum for debate about possible new legislation and other new developments, and then providing high-quality outreach and education to our members as those developments unfold. One particular goal I have is to provide a focus - through various media - on whether we need to again look at reform of the Bankruptcy Code (believe it or not), especially on the business reorganization side of things. For example, is the prevalence of sale cases (and ever faster sales) a product of uncontrollable externalities or have there been defining structural and substantive changes to the Bankruptcy Code that have caused or facilitated that trend (such as the "safe harbor" provisions, shortened time periods, etc.)? I think this needs to be looked at, and only ABI can bring various approaches and media to framing and furthering the study and debate of these issues. We might combine an empirical study, a focused conference/symposium, publications and a virtual town hall approach, all with the idea of generating a body of information and ideas that policymakers and legislators can use as they make the critical decision about whether to change the law or leave it alone, especially at this historic time for the country and the economy.
What challenges does ABI face in the coming years?
See my answer to the preceding question! New developments will come fast, and we will need to stay ahead of them, as we always have. Second, we have had rapid growth to about 12,000 members; future growth will by necessity not be as rapid, and the challenge will be to grow steadily and maintain a high level of service to the membership. In addition, we appreciate that our members will be extremely busy in the next couple of years, but that the firms, companies and institutions they work for might not thrive to the same extent, as other areas suffer the downturn. ABI's staff and leadership are committed to providing the same high-quality experience to the membership. Accordingly, we will need to manage aspects like sponsorships and fundraising effectively and manage all of our projects efficiently. The ultimate challenge - which I am convinced will be met - is to maintain and grow ABI's reputation as the nation's leading and most diversified organization of insolvency professionals.
What advice would you give to young or new members who want to get more involved in ABI?
Don't be shy. Take advantage of the Ambassador program to meet other members. Attend some committee meetings. Get involved with a committee that fits your areas of interest and offer to get involved with a project or task that plays to your strength. Write a newsletter article, help plan an educational program, assist with the listserve, but get involved in a concrete way. And keep asking for more involvement. ABI is still - and always will be - an organization where involvement and hard work are rewarded. After that, interesting things can happen.
How do you like the Red Sox's prospects for 2009?
I expect to be watching the Sox play in October.