Press
10 years 23 weeks ago
A commission charged with exploring bankruptcy reform said on Wednesday it may recommend ditching outdated bankruptcy laws altogether and "starting from scratch." The Commission to Study the Reform of Chapter 11, whose 22 members constitute a venerable bankruptcy industry Hall of Fame, on Wednesday held its first in a series of hearings to gather feedback on what is right and wrong with the statutory scheme that has governed Chapter 11 bankruptcy since 1978. The commission's charge includes "literally considering starting from scratch and re-inventing the statute," said Robert Keach, attorney and commission co-chairman. The group, formed earlier this year by trade group the American Bankruptcy Institute, heard feedback from lending industry leaders at the Loan Syndication and Trading Association's annual conference in New York.
10 years 37 weeks ago
(Published with permission from BNA's Bankruptcy Law Reporter.) The American Bankruptcy Institute's commission to study the reform of Chapter 11 July 2 released the names of nearly 130 corporate restructuring experts who will be serving on one of 13 advisory committees to examine chapter 11 issues.
10 years 39 weeks ago
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.
10 years 48 weeks ago
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.
10 years 49 weeks ago
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.
