Press
9 years 15 weeks ago
In December 2014, the industry’s top professionals are expected to release a report on how to modernize the aging U.S. Bankruptcy Code’s rules for struggling businesses. The report [from ABI's Commission to Study the Reform of Chapter 11] could provide a template for U.S. lawmakers, should they ever be convinced that Chapter 11’s current rules—established in 1978—don’t work efficiently in today’s business world.
9 years 15 weeks ago
The American Bankruptcy Institute (ABI) is pressing ahead with the second stage of its massive review of chapter 11, with the findings from the "field hearings" shared between 14 committees being collated by a central Commission of "the best and the brightest." The ABI Commission to Study the Reform of Chapter 11 is set to issue it's report at the end of 2014. (Global Turnaround Magazine)
9 years 16 weeks ago
The heads of an American Bankruptcy Institute commission said that they hope to present a report with recommendations to reform Chapter 11 by this time next year, saying secured lender rights is one of the topics they will likely address.
9 years 16 weeks ago
Today’s bankruptcy law, adopted by Congress 35 years ago, is “antiquated,” according to Al Togut, co-chairman of the commission established by the American Bankruptcy Institute to study reform of the U.S. Bankruptcy Code. One year from now, the ABI Commission to Study the Reform of Chapter 11 will issue its report offering “specific reform in the Bankruptcy Code” with respect to corporate debtors.
9 years 21 weeks ago
Chief restructuring officers should
be awarded greater leniency under the U.S. Bankruptcy Code and the practices of
unsecured creditors committees should not be altered, bankruptcy experts told ABI's Chapter 11 Reform Commission on Thursday.
9 years 36 weeks ago
epresentatives from the unsecured trade credit community made their case for bankruptcy reform this week when they testified at a May 21 field hearing of the American Bankruptcy Institute's (ABI's) Commission to Study the Reform of Chapter 11, held at the National Association of Credit Management's (NACM's) 117th Annual Credit Congress and Exposition in Las Vegas.
9 years 40 weeks ago
Bankruptcy expert Daniel L. Keating, JD, professor of law at Washington University in St. Louis, is warning policymakers that any tweaks to the bankruptcy code could have unintended consequences and do little to improve the system. Keating testified recently before ABI's Chapter 11 Commission at a field hearing in Chicago about labor issues in bankruptcy proceedings.
9 years 42 weeks ago
After a thorough discussion of leases of non-residential real property, the ABI Commission turned to its second panel of the day, which discussed potential reforms to the provisions of section 365 of the Bankruptcy Code governing licenses of intellectual property.
9 years 42 weeks ago
On June 4, 2013, the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 held a field hearing, hosted by the New York Institute of Credit, at the New York Hilton. The hearing focused primarily on the Bankruptcy Code’s treatment of two categories of contracts: (1) leases of non-residential real property and (2) licenses of intellectual property.
9 years 45 weeks ago
Any revisions to the federal Bankruptcy Code’s treatment of qualified financial contacts
should amend the Code’s safe harbors to narrow preferential treatment for counterparties while retaining the Code’s push to combat systemic risk to the U.S. financial system, speakers said at a May 15 field hearing of the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11. (Reproduced with permission from BNA's Bankruptcy Law Reporter, 25 BBLR 705 (May 23, 2013). Copyright 2013 by The Bureau of National Affairs, Inc. (800-372-1033) <http://www.bna.com>)
