American Bankruptcy Institute Update

March 22, 2005

In This Issue

Highlights

Legislation Update

The “Other” Reforms – Selected Provisions on Business Bankruptcy in S.256

The primary focus on S.256 has been on its consumer bankruptcy provisions in general, and the means test, in particular. But, with over 500 pages of reform, there are plenty of changes in store for business bankruptcy cases. These changes include an entirely new chapter of the Code, Chapter 15, addressing cross-border insolvency cases, and complicated rules governing the netting of certain financial contracts. Title IV of the Bill includes general and small business bankruptcy provisions, and this paper highlights a number of those amendments.

Title IV of the Bill is titled General and Small Business Bankruptcy Provisions. Subtitle A of the title of the bill is titled “General Business Bankruptcy Provisions,” and Subtitle B is “Small Business Bankruptcy Provisions.” Notwithstanding this apparent split in the two subtitles, several of the provisions in Subtitle B (Small Business) actually apply to all cases. Therefore, this analysis includes first the generally applicable provisions, then the provisions applicable to small business debtors, and finally the provisions in the small business debtor subtitle that nonetheless apply to all cases.

Amendments that apply generally: Read the amendments.

Amendments that apply in “small business” bankruptcy cases: Read the amendments.

Amendments from the Small Business Subtitle that apply to all cases: Read the amendments.

Robert Dove to Keynote Saturday’s Luncheon at ASM

Robert B. Dove, Parliamentarian Emeritus, U.S. Senate, will keynote the Saturday, April 30 luncheon at the Annual Spring Meeting, to be held April 28- May 1, 2005, in Washington, D.C. Dove is of Counsel to Patton Boggs LLP and teaches federal legislation at both Georgetown and George Washington Universities. Tickets can be purchased for $50 for this special luncheon by marking the appropriate box on the Annual Spring Meeting registration form. Register by Friday, April 1 for the full program and save $30 off the late registration rate. If you have already registered for the meeting but would like to attend this luncheon, please contact Jennifer Dugas at jdugas@abiworld.org or by calling (703) 739-0800. For the Nuts & Bolts program ONLY register here.

Audioconference to Address Strategies for Prosecuting and Defending Preferences Next Wednesday

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. Each live audioconference 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 audioconference, "Strategies for Prosecuting and Defending Preferences: 'Pouring Salt or Salve on the Wound,'" next Wednesday, 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.

ABI Members Named Fellows by the American College of Bankruptcy

The following ABI members were among the 34 bankruptcy and insolvency professionals from around the world inducted into the American College of Bankruptcy’s 16th class. The induction ceremony was held March 18 in The Great Hall of the Supreme Court of the United States in Washington, D.C.

Charles T. Coleman of Wright, Lindsey & Jennings LLP (Little Rock, Ark.), Dennis J. Connolly of Alston & Bird LLP (Atlanta), Richard K. Diamond of Danning, Gill, Diamond & Kollitz, LLP (Los Angeles, Calif.), Bonnie Glantz Fatell of Blank Rome LLP (Wilmington, Del.), Hon. Joan N. Feeney (Boston), Hon. Judith K. Fitzgerald (Pittsburgh, Pa.), Jean-Yves Fortin of BCF LLP Lawyers Patent & Trade Mark Agents (Montreal, Québec), Hon. Paul M. Glenn (Tampa, Fla.), Prof. Margaret Howard of Washington & Lee University School of Law (Lexington, Va.), William W. Kannel of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC (Boston), Andrew C. Kassner of Drinker Biddle & Reath LLP (Philadelphia), Kay Standridge Kress of Pepper Hamilton LLP (Detroit), William Lobel of Irell & Manella LLP (Newport Beach, Calif.), Margaret M. Mann of Heller Ehrman White & McAuliffe LLP (San Diego, Calif.), Joseph M. Meier of Cosho Humphrey LLP (Boise, Idaho), William L. Norton III of Boult, Cummings, Conners & Berry PLC (Nashville, Tenn.), Ray Obuchowski of Obuchowski & Emmens-Butler (Bethel, Vt.), Alec P. Ostrow of Stevens & Lee PC (New York), Alfredo Perez of Weil, Gotshal & Manges LLP (Houston), Nancy B. Rapoport of University of Houston Law Center (Houston), Margery N. Reed of Duane Morris LLP (Philadelphia), John D. Sigel of Wilmer Cutler Pickering Hale and Dorr LLP (Boston), Edwin E. Smith of Bingham McCutchen LLP (Boston), William E. Steffes of Steffes, Vingiello & McKenzie LLC (Baton Rouge, La.), Charles J. Tabb of the University of Illinois College of Law (Champaign, Ill.), Marc J. Winthrop of Winthrop Couchot PC (Newport Beach, Calif.) and Hon. Gregg W. Zive (Reno, Nev.).

New OpinionS Posted Online

Northern District of Alabama
In re LGI Inc. -- March 2005

Middle District of Alabama
In re David L. Pruitt and Sea Coast Greenhouses LLC - 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: