Press
10 years 11 weeks ago
With the Bankruptcy Code now 35 years old, 2013 looks to be a key year in developing a replacement. The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 was organized last year to analyze the chapter and recommend changes to the current law, after there was consensus that Chapter 11 needed a reboot during the 2009 event "Chapter 11 at the Crossroads: Does Reorganization Need Reform?"
10 years 11 weeks ago
As co-chairs of the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 (ABI Commission), we are proud to note that the ABI Commission is entering its second year of operation. Thus, it is an appropriate time to reflect on the reasons for the formation of the ABI Commission, its mission, its activities over the prior year, what it has learned, and its course for the future.
10 years 16 weeks ago
After wrapping up its 2012 public hearing schedule Nov. 30, the American Bankruptcy Institute commission to study the reform of Chapter 11 remains dedicated to modernizing the Bankruptcy Code. (Reprinted with permission from Bloomberg BNA's Bankruptcy Law Reporter.)
10 years 17 weeks ago
A commission to explore major changes to U.S. bankruptcy rules said on Monday that labor and benefits will be key issues during a host of public hearings beginning early next year.
10 years 17 weeks ago
An American Bankruptcy Institute commission studying an overhaul of the U.S. Bankruptcy Code believes the proliferation of secured debt and the trading of bankruptcy claims, among other developments, have made the code outdated. But the co-chairs of the commission made it clear on a Monday conference call that they do not see either practice as inherently harmful to businesses seeking to survive the Chapter 11 process.
10 years 18 weeks ago
Reorganizations of middle market Chapter 11 cases would be best facilitated by giving bankruptcy courts flexibility so that they can exercise judicial discretion in dealing with specific circumstances as they present themselves, a retired judge told the American
Bankruptcy Institute commission Nov. 15 at the Commercial Finance Association (CFA) annual meeting in Phoenix, Ariz. (Reprinted with permission from Bloomberg BNA's Bankruptcy Law Reporter.)
10 years 20 weeks ago
Earlier this year, the American Bankruptcy Institute began hearings of its Commission to Study the Reform of Chapter 11. As its name suggests, the commission's purpose is to gather input from members of the insolvency community - from attorneys and judges to the financial sector - and ultimately present Congress with a proposal to overhaul a system that has not been touched since its enactment 30 years ago.
10 years 20 weeks ago
(Published with permission for the Wall Street Journal's CFO Report.) The primary industry group for the corporate loan market warned that any attempt to limit the rights of secured creditors in the event of a bankruptcy could have a broader impact on companies’ access to and cost of capital. The comments by the Loan Syndications and Trading Association were aimed at the American Bankruptcy Institute, which is currently studying the 1978 bankruptcy code for areas in need of updating. Among those under consideration is the role of secured debt in bankruptcies.
10 years 20 weeks ago
The American Bankruptcy Institute’s commission studying reforms of the U.S. bankruptcy code has distressed-debt investors near the top of its agenda. (Published with permission of CFO.com.)
10 years 20 weeks ago
(Published with permission from BNA's Bankruptcy Law Reporter.) The American Bankruptcy Institute commission to study the reform of Chapter 11 should consider the bankruptcy rules and forms as an important part of bankruptcy practice, according to Judge Eugene R. Wedoff of the U.S. Bankruptcy Court for the Northern District of Illinois, who testified before the commission Oct. 26.
