Advisory Committee Continues
The U.S. Judicial Conference Advisory Committee on Rules of Bankruptcy
Procedure meets again today to discuss the proposed Interim Rules for the
new bankruptcy law, beginning at 8:30 a.m. at the Thurgood Marshall Federal
Judiciary Building, Judicial Conference Center, One Columbus Circle, NE,
Washington, D.C. Contact: John Rabiej, 202-502-1820.
Americans are both saving at the lowest rate since the Great Depression
and at record peaks. How is that possible?
Even as a
government report released Tuesday showed the national savings rate at
read that right: zero—the rise in the value of homes has given the average
U.S. household a net worth of greater than $400,000, according to a separate
report from the Federal Reserve, CNN/Money reported yesterday. Household
real estate assets have risen by just over two-thirds since 1999, and the
run-up has enabled consumers to spend more money than they are bringing home
in their paychecks, using home equity loans and refinancing to pull out cash
and support a higher level of spending.
“[Rising home values] are making people feel they don’t need to save,” said
Lakshman Achuthan, managing director of the Economic Cycle Research Institute.
That means they are spending more of their paychecks than they would otherwise.
That’s good news for the current economy, but it could cause trouble in the
longer term, according to some economists. Read the full story.
Now for ABI’s New Investment Banking Program
In an exciting new format and location, the 2005
Investment Banking Program,
to be held Sept. 8–9 at the Four Seasons Hotel in Las Vegas, will offer
a unique approach to understanding the role of investment bankers in insolvency
and restructuring. The case study will dramatize the many perspectives of
parties-in-interest as they examine strategic alternatives and seek the highest
value for an insolvent company, and an “all-star” cast of industry
leaders will play the roles of the major constituents as they work through
the case study in this day-long program. Register
Helps Attorneys Get Certified before the New Law Takes Effect
ABI is now offering self-study
materials on CD-ROM for certification exams covering the current Code. Exams
covering the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005,
which takes effect on October 17, 2005, will be offered in 2006. The new
law authorizes bankruptcy judges to base their fee awards on whether attorneys
meet the high objective standards needed to become board-certified by the
American Board of Certification. New §330(a)(3)(E)
directs the judges to consider “whether the person is board certified
or otherwise has demonstrated skill and expertise in the bankruptcy field.”
Attorneys can use the CD-ROM—which includes interactive sample
quizzes, study materials and much more—to prepare for the
four remaining exams covering current law. The CD-ROM, available to members
for $195, also includes general bankruptcy provisions, information on ethics
and professional responsibility and information on business bankruptcy, creditors’ rights
and consumer bankruptcy certification exams. The ABC
web site provides additional information about the exams and how to register.
The four remaining exams covering current law are:
- ABI Southwest Bankruptcy Conference (Las Vegas), Sept. 8
- National Conference of Bankruptcy Judges (San Antonio), Nov. 2
- ABI Detroit Bankruptcy Conference (Detroit), Nov. 10
- ABI Winter Leadership Conference (Indian Wells, Calif.), Dec. 1
ABI World for more information or to order your copy.
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: