American Bankruptcy Institute Update

March 17, 2005

In This Issue


Legislation Update

Bankruptcy Bill Clears House Panel Without Changes

The House Judiciary Committee approved S. 256, as passed by the Senate, by a vote of 22-13. After defeating every Democratic amendment, aimed at excepting military personnel, usurious interest rates and victims of identity theft, as well as trying to curb the ability of the wealthy to shield their homes and income from creditors, the committee approved the bill and sent it to the full House. The House will consider the legislation the week of April 4, when members return from their spring recess . The House Rules Committee will first meet to establish a rule for which amendments would be in order to be offered. However, it is not likely that any amendments will succeed.

Ney, Kanjorski Introduce Subprime Mortgage Bill

House Financial Services Housing Subcommittee Chairman Robert Ney (R-Ohio) and Financial Services Capital Markets ranking member Paul Kanjorski (D-Pa.) introduced legislation on Tuesday that aims to protect consumers from predatory lending in the subprime mortgage market, CongressDaily reported. The bill would create uniform national standards that would pre-empt state predatory lending laws. Ney and Kanjorski said those standards, and other provisions in the bill, would curb industry abuses while ensuring that subprime loans are available to consumers with less-than-perfect credit histories. The lawmakers said they hope the bill will serve as the primary House vehicle for addressing mortgage lending and consumer protection issues, the newswire reported.

New Online CLE Available

Stay current with the latest ABI CLE online. Now you can access relevant, high-impact ABI CLE online at the West LegalEdcenter, including the latest on-demand CLE programs. The following programs from the Sixth Annual New York City Bankruptcy Conference 2004 are available online:

A Guide to Buying and Selling Assets

Bankruptcy Fundamentals: Nuts & Bolts of Business Bankruptcy for Young Practitioners

Bankruptcy Fundamentals: Nuts & Bolts for Young Practitioners

Closely Held Companies: Issues for Managers and Their Professionals

DIP and Exit Financing

How to Stop the Bleeding: Consumer Panel

Intercreditor Issues with Multiple Secured Parties

Muddy Waters: Wading Through Deepening Insolvency Part 1

Muddy Waters: Wading Through Deepening Insolvency Part 2

The Troubled Company and Its Pension Obligations

The World of Non-core Professional Fees in Chapter 11

Wearing Too Many Hats -- Can You Ethically Do What You Want in the Case?

Take advantage of special member discounts on every ABI online CLE program you purchase at West LegalEdcenter! Be sure to select the member price when registering to receive your savings.

Audioconference to Address Strategies for Prosecuting and Defending Preferences, March 30

ABI announces the launch of the “Best of ABI” audioconference series. The “Best of ABI” series brings the highest rated sessions from each ABI conference right to your office. The live audio conference will be offered during the month following the ABI event. The original speakers will present the highly acclaimed session again, complete with the original educational materials. CLE/CPE credit will be available in certain states.

Register for the Best of the 2005 Rocky Mountain Bankruptcy Conference live audio conference, "Strategies for Prosecuting and Defending Preferences: 'Pouring Salt or Salve on the Wound'" on March 30, 2005 at 3 pm (ET). Issues, strategies and practice tips on prosecuting and defending preference actions will be presented from various viewpoints, including those of the debtor-in-possession, the trustee and creditors. For more information about the program or to register, click here.

Technology Committee E-Newsletter Available Online

The March issue of ABI’s Technology and Telecommunication Cases Committee e-newsletter is available online. Read articles on electronic case filing and high-tech and telecom provisions in the bankruptcy bill. Learn about the committee meeting to be held during the 2005 Annual Spring Meeting .

New Opinion Posted Online

In re David Owens - March 2005

Latest Job Postings at ABI Career Center

Check out the ABI Career Center. The Center is a one-stop site for job seekers and employers in the insolvency community. Career Center resources are available free to both employers and job seekers. New positions are featured daily. The latest listings include: