Press

ABI’s Commission to Study the Reform of Chapter11 held its first public meeting on Capitol Hill on April 19. Since then, the Commission has been diligently working to create and implement a framework to facilitate the in-depth research, analysis and evaluation of chapter 11 of the Bankruptcy Code at the core of the Commission’s mission.
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A commission established by the American Bankruptcy Institute has proposed overhauling Chapter 11 to better accommodate the complexities of modern businesses, and to make the process more navigable for companies that want to save jobs and maintain ownership.
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The 34-year-old Bankruptcy Code, which has endured with only minimal and largely consumer-related tweaks, doesn’t fit the modern and complex business world, and industry professionals are beginning to call for a rebalancing of the rules in a way that could make it easier for companies to use the Chapter 11 process to stay alive and save jobs.
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