Look to Pre-empt New Code
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.
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!
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
- 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.
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!
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
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: