American Bankruptcy Institute Update

August 11, 2005

In This Issue


Companies Look to Pre-empt New Code

U.S. companies heading for bankruptcy may be filing sooner than expected this fall in order to sidestep tough new revisions in the Bankruptcy Code that take effect Oct. 17, the Associated Press reported today. The new rules, signed into law in April as part of a bill to tighten personal bankruptcy filings, place limits on exclusivity and the time a debtor may take to assume or reject commercial land leases. It also restricts key employee retention programs—bonuses paid to executives to keep them from jumping ship—among other measures. And though the buoyant economy means fewer companies are in dire straits, these restrictions have the handful of companies already struggling to stay afloat warning that they may file for protection—from the new Code.

“I think we’ll see some major corporate bankruptcies between now and October as companies choose to avoid dealing with the new (bankruptcy) bill,” said Robert Keach, co-chair of ABI’s Business Reorganization Committee and chair of the Bankruptcy and Restructuring Practice Group at law firm Bernstein Shur in Portland, Maine. Read the full story.

Register 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. An “all-star” cast of industry leaders will play the role of the major constituents as they work through the case study in this day-long program. Register today!

Did You Miss Yesterday’s Consumer Bankruptcy Webinar?

Don’t worry—we’ll be adding it to the Webinar archive!

Mark your calendar for the last Webinar in the series:

The Judges’ Perspective—September 22, 2 p.m. EDT

This Webinar will be a special roundtable featuring a panel of leading bankruptcy judges:

  • Second Circuit: Hon. Elizabeth Stong, Eastern District of New York
  • Fourth Circuit: Hon. Douglas Tice, Eastern District of Virginia
  • Fifth Circuit: Hon. Barbara Houser, Northern District of Texas
  • Sixth Circuit: Hon. Steven Rhodes, Eastern District of Michigan
  • Ninth Circuit: Hon. Samuel Bufford, Central District of California
  • Tenth Circuit: Hon. James Starzynski, District of New Mexico
  • Eleventh Circuit: Hon. Mary Grace Diehl, Northern District of Georgia

Register today and look for the Consumer Bankruptcy Webinar in the archives soon.

Prepare for the Certification Exam

The new bankruptcy law provides that courts will take into account board certification when awarding attorney fees under §330. The American Board of Certification is offering its exams several times this fall. You can prepare for the exams with a handy and affordable CD-ROM prepared by board-certified ABI members. The CD includes materials on consumer bankruptcy, business bankruptcy, ethics and creditors’ rights. Sample exam questions and answers are also included. Member price is $195. Buy the CD-ROM in ABI’s online store!

“Best of Annual Spring Meeting” Archived Program Now Available Online

The “Best of ABI” series brings the highest-rated sessions from each ABI conference right to your office. The “Best of Annual Spring Meeting” archived program is now available online at ABI World.

CLE/CPE credit will be available in certain states. The program features Judges Joan Feeney, David Houston, Linda Riegle and Mary Walrath analyzing the new law.

ABI World Tutorial Highlights Search Engine

A new online tutorial focuses on the capability of ABI’s search engine. The tutorial features a visual demonstration of how to use the online search engine and locate documents quickly and easily on a particular bankruptcy topic within the thousands of articles, reports, publications, court documents and many other sources available at the ABI World web site. This is the third in a series of tutorials that will highlight the many resources and services available at ABI World.

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: