American Bankruptcy Institute Update

April 12, 2005

In This Issue


Legislation Update

Rules Committee to Consider House Rule for Bankruptcy Bill Today

The House Rules Committee has scheduled a meeting for 5:00 pm today to consider a rule for debating the Senate-passed bankruptcy bill
(S. 256). The House expects to begin debate on the bill late Wednesday or Thursday. Despite strong opposition from many Democrats (the House Judiciary Committee’s Democratic staff dissenting views on the bankruptcy reform bill is available at ABI’s special section on the bankruptcy bill,, the House is expected to approve the bill by a wide margin, clearing the way for the president's signature, possibly during the week of April 18. 

Specter's Asbestos Draft Picks Up Support

The draft asbestos bill that Senate Judiciary Chairman Arlen Specter (R-Pa.) circulated today appeared to be picking up support, although a group of conservative Judiciary Committee Republicans remained noncommittal, CongressDaily reported. "We are close to a deal," Specter said. The new draft includes a number of changes aimed at gaining bipartisan support. Specter plans to meet with Republicans on the Judiciary Committee this afternoon and then with Majority Leader Bill Frist (R-Tenn.). Specter is expected to formally introduce the bill this week and mark it up in committee as early as next week.

Financial Advisors Committee e-Newsletter Now Online

The April issue of ABI’s Financial Advisors Committee e-newsletter is available online. Read an article examining the role of attorneys following a fraud. The Financial Advisors and Young and New Members Committees will meet jointly to discuss prearranged plans of reorganization on April 30, 2005, at the 2005 Annual Spring Meeting.

Mass Torts Committee to Address Class Actions In Bankruptcy at ASM

ABI’s Mass Torts Committee will present a two-part program at the Annual Spring Meeting in Washington, D.C. The committee will address class actions in bankruptcy on Saturday, April 30. Panelists will provide various perspectives on class actions, including those of debtor's counsel (treatment of class actions in bankruptcy and resolution of such actions), plaintiff's counsel (protecting your client pre-bankruptcy, representation of a client in bankruptcy), corporate counsel (what to expect as a corporate client, issues surrounding the decision to file) and a professor (legal pitfalls and issues surrounding resolution of mass tort claims in bankruptcy).

Deadline for ASM Hotel Registration Is Thursday, April 14

If you still need to reserve a room for the April 28-May 1 conference, the new overflow hotel is the Renaissance Washington DC, 999 9th St NW, $249/night. The deadline to reserve a room is April 14. Please call (202) 898-9000 and ask to be placed in the ABI room block. Register online today.

Audioconference to Address “Deepening Insolvency” Issues

ABI will present the second in a series of “Best of
ABI” audioconferences on May 11 . The series brings the highest rated sessions from each ABI conference right to your office.

Register for the Best of 2005 Bankruptcy Battleground West
live audioconference, "Deepening Insolvency Issues," to be held May 11, 2005 at 1:30 pm (ET). The panel will explain the concept of “deepening insolvency,” as well as current trends in the law and the very practical and new potential forms of liability possible under this fast-evolving theory. To register, click here.

Second Annual ABI Corporate Restructuring Competition Now Online

Information about ABI’s second annual corporate restructuring competition for top business schools, to be held November 11-13, 2005, at the Kellogg School of Management,  Northwestern University, Evanston, Ill., is available online at Learn about competition details, rules and the case problem from last year, and view photos from the 2004 competition.

Time to Update Your ABI Profile

Updates for the 2005-2006 ABI Membership Directory are due by April 20. Included in the directory will be your main contact information, plus any additional demographic information you may wish to include (school, certifications, specialties, etc.) Please make sure all of our information is complete and correct by visiting ABI World ( You will need to input your user id and password to gain access. The default user id is your e-mail address and the default password is your ABI membership number, which can be found above your name on your ABI Journal label. This information will be used for the printed, online, and CD-rom membership directories. ABI has mailed a printed directory questionnaire, which you should receive soon. Additional city listings can be purchased with the questionnaire.

New Articles at Global Insolvency

Hoover ’s Online
Bankrupts will be given the all-clear under new act

Mondaq's Article Service
Brazil: The New Bankruptcy Law
(Registration Required)

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: