2002 Annual Report
AMERICAN BANKRUPTCY INSTITUTE 2002 ANNUAL REPORT 2002-2003 CALENDAR
2002 Annual Report The American Bankruptcy Institute’s (ABI) 20th year coincides with a surge in personal and public company bankruptcies, fueling another year of remarkable growth for the Institute. Insolvency professionals are more time-challenged than ever today. As ABI approaches the 9,000member mark, it does so with a renewed focus on providing member benefits and services. The past year saw ABI add four new titles to its growing publications catalogue, including a 500page work titled Bankruptcy in Practice . Each work is carefully crafted to help members serve clients quickly and efficiently. ABI is the leading provider of continuing education in the insolvency field, and educational programs continue to be a priority. One new timely and cost-effective delivery system is ABI’s partnership with West LegalEdCenter, providing online CLE with the easy click of a computer mouse. Our 20-plus member committees were reinvigorated this year with new leadership and an innovative listserve to electronically connect members on the pressing issues of their practice. Our Endowment Fund, research grants and international activities were also areas of strong growth this past year. On behalf of ABI’s Board of Directors, we pledge to continue to be on the cutting edge of service to our members and the insolvency world. We invite you to actively participate in this process, and look forward to working with you in the year ahead.
A NDREW W. C AINE P RESIDENT
K EITH J. S HAPIRO C HAIRMAN
S AMUEL J. G ERDANO E XECUTIVE D IRECTOR
Annual Report Table of Contents EDUCATIONAL PROGRAMS October LEGISLATIVE ACTIVITY November RESEARCH December ABI WORLD January PUBLICATIONS February MEMBERSHIP March IN THE NEWS April LAW REVIEW May INTERNATIONAL ACTIVITY June PROFESSIONAL DEVELOPMENT July BANKRUPTCY CERTIFICATION August FINANCES September ENDOWMENT FUND October BOARD OF DIRECTORS November ABI STAFF December COMMITTEES
2002 ANNUAL REPORT
2002 2002 2002 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003
Educational Programs Bankruptcy professionals around the country continue to rely on ABI’s high-quality educational programs to meet their continuing education (CLE/CPE) requirements. The Institute is the largest provider of CLE credit in the insolvency field, with more than 3,000 members attending ABI educational programs in 2002-2003. ABI hosted eleven programs during this period, with each one setting new attendance records. New in 2002 is a partnership with West Group to offer online CLE programming. As a result, selected ABI programs are now available via the West LegalEdCenter (www.abiworld.org/events/cle/ westcle.html), West Group’s online CLE service. Available on demand, each ABI program provides an audio or video webcast that is conveniently delivered right to the desktops of busy practitioners.
2 0 T H A N N I V E R S A RY ANNUAL SPRING MEETING ABI celebrated its 20 th Anniversary at the 2002 Annual Spring Meeting in Washington, D.C., welcoming a record 750 attendees. The Institute Harvard Business School Prof. marked the occasion with a Stuart C. Gilson explained the methods used to identify value performance by the Grammy in Chapter 11 cases at the Award-winning Temptations. Annual Spring Meeting. The large crowd was also treated to special presentations by Southern Poverty Law Center Co-founder Morris Dees, Robert M. Zinman Resident Scholar (2003) David G. Epstein and Harvard Business School Prof. Stuart C. Gilson.
WINTER LEADERSHIP CONFERENCE More than 600 members attended ABI’s 2001 Winter Leadership Conference in Carlsbad, Calif. (La Costa Resort). The meeting featured numerous top-notch educational Judy D. Thompson, sessions, including The Year ABI Vice President – Education in Review: Hot Topics and New Legislation, Creative Uses of Mediation/ADR in Bankruptcy and Ethical Dilemmas for Creditors’ Attorneys, among others. More than 30 committee and educational sessions addressed a wide variety of topics, reflecting the interests of ABI’s diverse membership.
REGIONAL PROGRAMS ABI’s regional programs enable ABI members throughout the country to keep their CLE credits up to date. This year the Institute offered the Seventh Annual Rocky Mountain Bankruptcy Conference (Denver), the Tenth Annual Bankruptcy Battleground West (Los Angeles), the Fourth Annual New York City Bankruptcy Conference, the Ninth Annual Central States Bankruptcy Workshop (Traverse City, Mich.), the Ninth Annual Northeast Bankruptcy Conference (Cape Cod, Mass.), the Seventh Annual Southeast Bankruptcy Workshop (Kiawah Island, S.C.) and the Ninth Annual Southwest Bankruptcy Conference (Las Vegas). Top bankruptcy judges from each region play an important role in these meetings, both participating in the planning process and serving as faculty members and speakers. The workshop format allows attendees to interact and learn in a small-group atmosphere.
E D U C AT I O N A L P R O G R A M S
Legislative Activity Unlike most Washington-based organizations, ABI is not a lobby group with an advocacy agenda. Members of Congress and their staff recognize and rely on ABI for neutral and unbiased analysis. ABI’s web site provides the full text and legislative history of all bankruptcyrelated bills, as well as commentary, news links, editorials and “Dear Colleague“ letters. The web site also regularly polls members' views on current legislation.The ABI Journal ran a series of articles by the 2001 Robert M. Zinman Resident Scholar, Prof. Jack F. Williams, on the reform bill’s likely impact.
Ed Pagano (right) of the Senate Judiciary Committee and David Lachmann of the House Judiciary Committee make a presentation on the bankruptcy reform bill at the 2002 Annual Spring Meeting.
Congress spent much of the past year considering a major bankruptcy bill, in the making since 1997. Consistent with its original mission, ABI continues to serve as a resource for Congress. The Legislative Committee, co-chaired by Judges David Houston (N.D. Miss.) and George Paine (M.D. Tenn.), invites top Hill staff to discuss the legislative process and the prospects for legislation during each Annual Spring Meeting in Washington, D.C. ABI World also has the full text of the Bankruptcy Code, Federal Rules of Bankruptcy Procedure and Evidence and a link to all the activities of the National Bankruptcy Review Commission, including the Commission’s 1997 Final Report. The ABI listserve (Network Update) provides thorough coverage of legislative developments. During Senate and House floor consideration of the bankruptcy bill, ABI members received multiple updates each day.
Sen. Charles E. Grassley (R-Iowa) (left), lead sponsor of the Bankruptcy Reform Act, visits with ABI Vice President for Development Michael Richman (Mayer, Brown, Rowe & Maw; New York).
L E G I S L AT I V E AC T I V I T Y
Research With a growing Endowment Fund, ABI continues to enhance its reputation as a major funding source for scholarly research. Five of these funded studies in both business and consumer bankruptcy are under way this year. The most recent grant award was to the Coalition for Consumer Bankruptcy Debtor Education (Prof. Karen Gross, New York Law School and Prof. Susan Block-Lieb, Fordham University School of Law). The grant will fund a study of the success of teacher training efforts and to identify certification standards for debtor education. An Endowment Grant Committee, named by the ABI President, has the authority to solicit and provide funding for educational and research projects. Members of the committee are: Hon. Wesley Steen (Chair), Hon. William Bodoh, Prof. Ralph Brubaker, Hon. Leif Clark, Karen Cordry, Prof. Grant Newton, Michael Richman, Nancy Ross and Prof. G. Ray Warner. ABI’s Robert M. Zinman Resident Scholar supplies a strong in-house research capability. The 2002 Scholars were Prof. Margaret Howard (Spring) of Washington and Lee University School of Law and Prof. G. Ray Warner (Fall) of the University of Missouri Prof. G. Ray Warner School of Law. The ABI Scholars have assisted Capitol Hill staff, analyzed proposed legislation, responded to press inquiries and spoken at educational programs, among other duties.
Prof. Howard authored the fourth edition of Bankruptcy Overview: Issues, Law and Policy during her tenure. The Scholar for 2003 (Spring) will be Prof. David Epstein, the Charles Tweedy Chair in Law at the University of Alabama School of Law. Prof. Epstein will be a visiting professor of law at Georgetown University Law Center during his tenure at ABI.
Prof. Margaret Howard
Prof. David Epstein
ABI will sponsor a major symposium on October 10-11, 2003, marking the 25th anniversary of the enactment of the Bankruptcy Code of 1978. The event, to be held at Georgetown University Law Center, will bring together the nation’s top bankruptcy scholars to reflect on the law’s impact and future. Profs. Barry Adler (New York University), Douglas Baird (University of Chicago), Elizabeth Warren (Harvard University) and James J. White (University of Michigan) are scheduled to present major papers at this seminal event for the academic community. Other scholars will be invited to participate as commentators. The symposium will be funded by the ABI Endowment.
RESEARCH
ABI World Up-to-the-hour insolvency news and information are available to bankruptcy practitioners, researchers, the media and members of Congress via ABI’s official web site, ABI World. The award-winning site provides daily updates on the latest bankruptcy filings, developments on Capitol Hill, analysis of court opinions, quarterly bankruptcy filing statistics and much more. The wide variety of resources available to members includes more than 65,000 online documents, including current and back issues of the acclaimed ABI Journal . A searchable archive allows visitors to find relevant articles and documents, as well as conference educational materials, as far back as 1994. The full text of proposed bankruptcy bills, legislative history and much more are also available in the web site’s Legislative News section. Other popular areas of ABI World include the Cracking the Code interactive newsletter, the West Bankruptcy Newsletter, threaded discussion boards, the Collier Bankruptcy Case Update, the online ABI Membership Directory, Circuit Updates written by prominent practitioners in each district and a guide to international insolvency laws.
The “Consumer Corner” area of ABI World provides basic bankruptcy and debt counseling information to individuals who are considering bankruptcy protection. The online ABI news room provides journalists and others with the latest ABI news, as well as links to the bankruptcy related news stories of the day.
N E W A B I WO R L D F E AT U R E S New this year is “Bankruptcy Thursday,” provided in cooperation with The Daily Deal . This new section features summaries and links of the week’s top bankruptcy stories from the online Daily Deal each Thursday. Also new this year is the weekly “ABI Quick Poll,” a way for site visitors to sound off on bankruptcy questions. Coming soon is an online employment section that will allow employers to post announcements of job openings. The new area will enable job seekers to search for relevant job openings, store their resumes and receive e-mail notifications of the latest postings.
ABI WORLD
Publications ABI provides an array of publications as part of membership, including the monthly ABI Journal and semi-annual Law Review . The annual Membership Directory – a who’s who of the insolvency world – now totals nearly 800 pages.
N E W A B I P U B L I C AT I O N S Under the leadership of Vice President–Publications John D. Penn (Haynes and Boone; Fort Worth, Texas), ABI added four new titles to its publications catalogue this year. In 2002 the Institute introduced the well-received Bankruptcy in Practice by Prof. Jack D. Ayer (University of California—Davis) and Michael L. Bernstein (Arnold & Porter). Already in its second edition, the 500-page book bridges the divide between classroom theory, courtroom procedure and conference room negotiation.
The Manual on Trade Creditors’ Rights of Reclamation & Stoppage of Delivery of Goods , written by Bruce Nathan (Davidoff & Malito LLP), was also published in 2002. The 70-page manual guides lawyers and trade creditors through the exacting requirements that must be satisfied to obtain quick relief. In June 2002, the Institute introduced the ABI Preference Handbook , edited by David Wheeler (Moore & Van Allen PLLC). The handson manual provides both practitioners and trade creditors with practical tips on preferences and provides an overview of the elements of the preference and the statutory exceptions and
“ This book is perhaps the best publication in t e r m s o f d e myst i f y i n g t h e bankr uptcy process, e xplaining the subst antive st atut es, discussing their policy grounds, det ailing proper procedure, and introducing the var ious players and their motivations.” George W. Kuney, Tennessee Journal of Business Law , on Bankruptcy in Practice
defenses. Most recently, ABI published the fourth edition of its popular Bankruptcy Overview: Issues, Law and Policy. Written by ABI Resident Scholar Prof. Margaret Howard (Washington & Lee University), this 130page handbook introduces non-bankruptcy professionals to the essential elements of bankruptcy law.
ELECTRONIC PUBLISHING The ABI Network Update, a news bulletin provided via e-mail, provides instant notification of the latest legislative developments and timely bankruptcy and ABI news. Available free to all ABI members who request it, the Update is one of the most popular ABI membership services. “The American Bankruptcy Institute’s web site keeps me informed on current and national bankruptcy headlines as well as important statistics, legislative news and published materials for attorneys and the general public,“ says Barbara Rom, an ABI member and a partner with Pepper Hamilton LLP. All ABI publications are made available at ABI World, the Institute’s official web site. ABI has an aggressive plan for future new titles, including a manual on “First Day Orders,” a primer on telecommunications cases, an update of the Health Care Insolvency Manual and an analysis of the new European Union insolvency regulations.
P U B L I C AT I O N S
Membership Thanks to the numerous benefits provided with each membership, the Institute achieved a 90 percent member-retention rate in 2001 for the third year in a row. A record 816 members renewed in January 2002. Many new members joined ABI this year via the web site, special publications offers, attendance at ABI conferences and prospect mailings. The diverse ABI membership includes attorneys, lenders, judges, accountants, turnaround specialists, credit managers, auctioneers, trustees, academics and many other insolvency practitioners.
Membership Growth 10,000 8,000
2002
2001
2000
1999
1998
1996
2,000
1995
4,000
1997
6,000
Colleagues on the listserves can share ideas for programs, network nationally, get information and ask questions on important issues. The listserves are quick and simple to use, so you can easily stay current on trends in the bankruptcy world. An archive of list conversations can be searched by topic and date, and are available for all lists. The ABI membership team is headed by Membership Vice President Leonard P. Goldberger (White & Williams LLP; Philadelphia) and three full-time staff members who focus on recruitment, retention and membership benefits. After turning 20 in 2002, ABI saw its membership approach the 9,000-member mark just 15 months after surpassing 8,000 members. As part of the 20 th anniversary celebration, ABI honored its 20-year members in attendance at the Annual Spring Meeting in April.
0
NEW ABI BENEFITS Continuing to add value to the ABI membership, the Institute offered a new networking tool, the ABI Committee Listserve, in spring 2002. The listserves are group e-mail discussions that allow members of each ABI committee to exchange information in a peer-topeer forum. The lists remove geographical boundaries from member communication and are available to all members—right now—wherever they are.
ABI honored a number of its earliest members from 1982-83, who were in attendance at the 2002 Annual Spring Meeting luncheon program.
MEMBERSHIP
In the News Protracted negotiations over the fate of the bankruptcy legislation and a record number of consumer and public company bankruptcy filings led to a great deal of media coverage ABI President-elect Bettina M. Whyte on the topic of (AlixPartners LLC; New York) appeared as an expert on the NBC Nightly News insolvency this year. in July 2002. She commented on the Prominent media impact of recent larger corporate outlets—including The bankruptcies. New York Times , CNN, The Wall Street Journal , the Los Angeles Times , CNBC, Fox News, CSPAN, National Public Radio and The Washington Post — cited ABI as an authority on bankruptcy. ABI Executive Director Sam Gerdano, Robert M. Zinman Resident Scholar Margaret Howard and a number of ABI Directors and ABI Executive Director Samuel J. Gerdano members served as commented on the record levels of consumer cases during a segment on PBS. media spokespersons on a wide variety of bankruptcy related topics. Corporate fraud and bankruptcy, the rise in U.S. filings and the proposed legislation dominated the media coverage this year.
Journalists, researchers and others who are interested in the latest bankruptcy related news are able to get updates at ABI World, the official ABI web site. The site includes a news room that provides the latest ABI news and links to bankruptcy news clippings, audio and video links, insolvency related research and many other useful information sources.
Peter A. Kaufman (Gordian Group; New York), the co-chair of the ABI Investment Banking Committee, discussed the Enron filing during a segment on CNBC’s Power Lunch.
Legislative updates are available under “What’s New” on the home page or in the Legislative News section. Daily bankruptcy headlines provide the latest information on general bankruptcy related news. Information and analysis on quarterly and annual bankruptcy statistics are available at ABI World as well.
IN
THE
NEWS
Law Review The ABI Law Review , edited by top students at St. John’s University School of Law under the direction of past ABI President and Chairman, Prof. Robert M. Zinman, has the largest circulation of any bankruptcy law review. The Law Review , published by West Group, celebrated its tenth year in circulation this year.
WINTER 2001 EDITION The winter 2001 Law Review , an open theme issue, addressed a variety of topics written by prominent academics and practitioners. “Mini-symposium: Tax Filing Year in Bankruptcy,” featured articles written by 2001 Robert M. Zinman Resident Scholar Prof. Jack F. Williams (Georgia State University College of Law), Graham Stieglitz (Kilpatrick Stockton LLP) and Prof. Jacob L. Todres (St. John’s University School of Law). Other articles focused on intellectual property claims in bankruptcy, the bankruptcy status of ERISA-qualified pension plans and the results of an ABI-funded empirical study of debtor education in bankruptcy by Prof. Jean Braucher (University of Arizona School of Law).
SPRING 2002 EDITION The spring 2002 Law Review brought together leading scholars to address a variety of international insolvency issues. A roundtable discussion on “Corporate Debt/Restructuring: Japan, Hong Kong, the SAR and the People’s Republic of China,” featured George M. Kelakos (Heller, Ehrman, White &
Past ABI President and Chairman Prof. Robert M. Zinman of St. John’s University School of Law presents ABI Law Review Editor-in-chief Sarah Rooney with the 2002 ABI Law School Scholarship Award.
McAuliffe LLP), Prof. Charles D. Booth (Asian Institute of International Financial Law), Satoru Murase (Bingham McCutcheon LLP), Arnold M. Quittner (Pachulski, Stang, Ziehl, Young & Jones PC) and Mark Sterling (Allen & Overy). Other articles addressed cross-border practices in the United States and Japan, South Africa and Mexico, among others. One theme to be explored in 2003 is corporate governance in the wake of the financial and accounting scandals.
L A W R E V I E W A D V I S O RY B O A R D, 2 0 0 2 Prof. Robert M. Zinman (Co-chair), St. John’s University School of Law John D. Penn (Co-chair), Haynes and Boone LLP Prof. Peter Alexander, Penn State University, Dickinson School of Law Prof. Ralph E. Brubaker, Emory University Prof. Daniel J. Bussel, UCLA School of Law Hon. Leif M. Clark, U.S. Bankruptcy Court (W.D. Texas) Prof. Marianne B. Culhane, Creighton University School of Law Douglas E. Deutsch, Chadbourne & Parke LLP Prof. Mechele Dickerson, William & Mary Law School Hon. Conrad B. Duberstein (E.D. New York) Hon. Rosemary Gambardella (D. New Jersey) Prof. Karen Gross, New York Law School Prof. John P. Hennigan, St. John’s University School of Law Mary Jo Heston, Lane Powell Spears Lubersky Gary Klein, Grant & Roddy Neil P. Olack, Jones Day Hon. Alexander L. Paskay, (M.D. Florida) Robin E. Phelan, Haynes and Boone LLP Prof. Lawrence Ponoroff, Tulane University School of Law Prof. Mark S. Scarberry, Pepperdine University School of Law Prof. Walter J. Taggart, Villanova Law School Prof. William T. Vukowich, Georgetown University Law Center Prof. G. Ray Warner, University of Missouri School of Law Prof. Jay L. Westbrook, University of Texas School of Law Prof. Jack Williams, Georgia State University College of Law
LAW REVIEW
International Activity ABI’s international mission is to provide members with an understanding of cross-border and foreign insolvencies. The Institute participates and assists cooperatively in legislative, institutional and regulatory development. ABI’s international members have grown to more than 250 from 30 different nations.
In cooperation with the International Law Relations Committee of the NCBJ, ABI is sponsoring an educational program for Central and Eastern European judges. ABI members involved in this program include Ronald Silverman (Bingham McCutcheon; New York) and Mark Liscio (Clifford Chance, Rogers & Wells; New York).
Our International Committee, chaired by George M. Kelakos (Heller, Ehrman, White & McAuliffe LLP; Los Angeles), Josefina Fernandez McEvoy (McEvoy and Associates; Los Angeles) and Ian G. Williams (Edwards Geldard; London), is among our most active of member committees. The Josefina Fernandez committee has planned significant McEvoy CLE programs at the Annual Spring and Winter meetings and has planted the ABI flag on several continents. Mr. Kelakos has spearheaded Far East educational programs for judges, legislators and government officials. Ms. McEvoy has advised the government of Ecuador on commercial and insolvency law, and Mr. Williams is planning a program for the United Kingdom in 2003.
ABI is the largest of 31 member organizations in INSOL International, the worldwide federation of insolvency professionals. ABI member Robert S. Hertzberg (Pepper Hamilton; Detroit) is president of INSOL and ABI Chairman Keith J. Shapiro (Greenberg Traurig; Chicago) serves on the INSOL Board of Directors. ABI members may join INSOL and receive member benefits such as conference and publications discounts. ABI and INSOL are working cooperatively on the planning of INSOL’s Americas conference, set for Sept. 21-23, 2003 in Las Vegas. The Institute is also pursuing plans for a joint Internet site on international insolvency, in cooperation with INSOL and the other member organizations.
In the Americas, the fourth Canadian-American Symposium will be held in New York in February 2003. This program is headed up by ABI’s Vice President for International Affairs, Steven G. Golick (Osler, Hoskin & Harcourt; Toronto).
Coming soon is a primer on the new European Union Regulations on Insolvency Proceedings, written by Bob Wessels (Holland Van Gijzen; Amsterdam). Also planned is an International Training Council to coordinate assistance to nations seeking to implement a new insolvency system. The Council is a cooperative effort between ABI, the American Bar Association, the International Bar Association (Committee J) and INSOL.
I N T E R N AT I O N A L AC T I V I T Y
Professional Development When ABI officially turned 20 in April, the Institute began work on a plan aimed at encouraging new and young members to become more involved in ABI activities. Promoting the professional development of ABI’s young membership has long been a goal of the Institute.
Prominent members of the bankruptcy and appellate court bench serve as judges. The final rounds are held at the U.S. Court of Appeals for the Second Circuit in New York.
N AT I O N A L M O OT C O U RT C O M P E T I T I O N C E L E B R AT E S 1 0 T H A N N I V E R S A RY
Each year the Institute also awards a $10,000 scholarship to a student in the bankruptcy LL.M program at St. John’s University School of Law. The LL.M program is the only one of its kind, and the award reflects ABI’s long partnership with St. John’s.
The 2002 Conrad B. Duberstein National Moot Court Competition celebrated its tenth anniversary during the final night awards dinner at the historic Chief Judge Stuart M. Bernstein (S.D.N.Y.), Puck Building in New Chief Judge Conrad B. Duberstein York. A team of (E.D.N.Y.), Dean Joseph Bellacosa, ABI Past President Richardo Kilpatrick, students from Brooklyn Judge Jane R. Roth (Third Circuit) and Law School won the Judge Jerry E. Smith (Fifth Circuit) (l-r) attended the final night awards dinner at 2002 competition, the Moot Court Competition. defeating a team from the University of Houston in the final round. Twenty teams from some of the leading law schools in the nation participated in the competition, co-sponsored by ABI and the St. John’s University School of Law. Past ABI Chairman and President Prof. Robert M. Zinman has served as the competition’s faculty advisor since its inception.
ABI AWARDS ANNUAL SCHOLARSHIPS
ABI PRESENTS MEDAL OF EXCELLENCE IN BANKRUPTCY ABI presented the 2002 Medal of Excellence in Bankruptcy Awards to more than 100 top students around the country. Medal recipients are selected by each Samford University Cumberland School law school’s bankruptcy of Law Dean John L. Carroll (l) and Prof. Stephen J. Ware (r) present Kent faculty, and typically E. Alton with his medal. receive their awards during school commencement exercises. Winners receive engraved medals and certificates of achievement, as well as a complimentary one-year ABI membership. Now in its fifth year, the program is coordinated by ABI Director Christopher F. Graham (Thacher, Proffitt & Wood; New York).
PROFESSIONAL DEVELOPMENT
Bankruptcy Certification The American Board of Certification (ABC) enjoyed a year of growth and stability, reaching a level of maturity in the organization’s eleventh year. ABC expects to approach more than 1,000 certificate holders in the near future. According to ABC President James T. Markus, “This is indicative of the growing trend of firms recognizing the value and importance of certification and encouraging attorneys to become certified.” To meet this growing demand, ABC established new procedures to make it easier for firms seeking to have multiple attorneys certified.
CHAIR Harry W. Greenfield Buckley, King & Bluso Cleveland, Ohio
This year some insurance carriers began to provide discounts on professional liability insurance to certified attorneys. “Certification will have even greater significance if the pending bankruptcy legislation is approved. “Section 415 of the conference report recognizes board certification as a relevant factor in determining reasonable compensation under §330(a) of the Bankruptcy Code,” says Markus.
PRESIDENT James T. Markus Block Markus Williams LLC Denver
National Totals
Cumulative Growth in Certificd Specialists
30,000 25,000
Prof. Peter C. Alexander Penn State University Dickinson School of Law Carlisle, Pa. Robert Bernstein Bernstein Law Firm P.C. Pittsburgh Richard P. Carmody Lange, Simpson, Robinson & Somerville LLP Birmingham, Ala. Max G. Moses Chicago
20,000
26,502
27,702
25,357
24,033
21,016
22,660
18,018
10,000
19,547
15,000
5,000
1994 1995 1996 1997 1998 1999 2000 2001
VICE PRESIDENT John D. Penn Haynes and Boone LLP Fort Worth, Texas
Source: American Bar Association
The ABC web site, www.abcworld.org, is now more user friendly. ABC expects more than 40,000 potential clients to visit the web site in the coming year, many of whom will obtain valuable information about ABC certified attorneys and the certification programs. New features include sections dedicated to the public and to attorneys, enhanced features of the online Directory of Certified Attorneys, information on upcoming CLE opportunities and access to the ABC logo for use by certified attorneys. This year the American Bar Association began publishing the Certification Link Newsletter for the legal community, which can also be found on the ABC web site.
Prof. G. Ray Warner University of Missouri-Kansas City School of Law Of Counsel, Greenberg Traurig LLP
TREASURER William L. Norton III Boult, Cummings, Conners & Berry PLC Nashville, Tenn. S E C R E TA RY Rudy J. Cerone McGlinchey Stafford PLLC New Orleans
E X E C U T I V E D I R E C TO R Michelle L. Anderson
OFFICERS: Lawrence R. Ahern III Gullett, Sanford, Robinson & Martin PLLC Nashville, Tenn.
BA N K R U P T C Y C E RT I F I C AT I O N
Finances ABI Statement of Financial Position
Dear Members,
ASSETS— December 31, 2001
The Institute has continued to strengthen its financial position during 2001-2002, providing funding for the high-quality educational programs, research and other purposes for which our organization was founded. With the help of professional investment advisors, we are continuing to monitor our investment policy, in order to maximize the overall financial security of the Institute. The information below has been taken from the 2001 audited financial statements, which were audited by BDO Seidman, LLP. Mitchell H. Cohen ABI Treasurer Gordon Brothers Retail Partners LLC
Current Assets: Cash and cash equivalents Short term investments Accounts receivable, net Prepaid expenses Pledges receivable Total Current Assets Non-current Assets: Pledges receivable Investments Fixed assets, net Deposits Total Non-current Assets TOTAL ASSETS
December 31, 2000
$175,671 268,586 160,139 116,531 52,342
$76,850 97,952 92,049 94,306 20,000
773,269
381,157
68,657 1,855,144 76,397 23,810 2,024,008
114,537 1,891,635 69,478 26,669 2,102,319
$ 2,797,277
$ 2,483,476
273,452 908,037
333,471 805,546
1,181,489
1,139,017
1,351,000 264,788
1,166,985 177,474
1,615,788
1,344,459
$ 2,797,277
$ 2,483,476
LIABILITIES & NET ASSETS— Current Liabilities: Accounts payable, accrued expenses Deferred revenue Total Liabilities Net Assets: Unrestricted Net Assets Temporarily restricted Total Net Assets TOTAL LIABILITIES & NET ASSETS
FINANCES
Endowment Fund CENTURY COUNCIL MEMBERS $25,000
OR GREATER
Andersen William A. Brandt Development Specialists Inc.
BENEFACTORS $5,000 - $9,999 Atlas Partners LLC Roger “Biff” Ruttenberg & Michael H. Nadler Joseph S.U. Bodoff Bodoff & Associates
Mintz, Levin, Cohn William W. Kannell & Richard E. Mikels
Andrew W. Caine Pachulski, Stang, Ziehl, Young & Jones PC
David L. Osias Allen, Matkins, Leck, Gamble & Mallory
Mary Jane Cardwell
The Ozer Group & Paragon Capital LLC Stephen G. Miller
George B. Cauthen Nelson Mullins et al. Hon. Leif M. Clark U.S. Bankruptcy Court
Patricia A. Redmond Sterns Weaver et al.
David D. Cleary McDermott, Will & Emery
Bridge Associates LLC Anthony H. Schnelling
Michael P. Richman Mayer, Brown, Rowe & Maw
Alan Cohen ALCO Capital Group Inc.
Cohn, Khoury, Madoff & Whitesell LLP Daniel C. Cohn
Thomas J. Salerno Squire, Sanders & Dempsey LLP
Keen Consultants LLC
Dickinson Wright PLLC Daniel F. Gosch
James Patrick Shea Shea & Carlyon Ltd.
National Auctioneers Association R. Bracky Rogers & Robert A. Shively
Robert N. Dangremond AlixPartners LLC
Stutman, Treister & Glatt PC Michael H. Goldstein
John Wm. Butler Jr. Skadden, Arps, Slate, Meagher & Flom, LLP
Ford Elsaesser Elsaesser, Jarzabek, Anderson, Marks & Elliott Chtd.
Harvey L. Tepner Robert E. Feidler Loeb Partners Corporation Robert M. Fishman Richard N. Tilton Shaw, Gussis, Fishman, Glantz & Wolfson LLC Prof. Jack F. Williams Georgia State University Jean K. FitzSimon Sears, Roebuck & Co. Deborah Williamson Cox & Smith Incorporated Allan Friedman Bowne & Co.
Harry D. Dixon Jr. Dixon Attorneys International PC AlixPartners LLC Jay Alix & Bettina M. Whyte
Kenneth R. Crone Visa USA, Inc.
Edward P. Bond Bederson & Company LLP
Foothill Capital Corporation
L.E. Creel III Creel, Sussman & Moore
Steven G. Golick Osler, Hoskin LIFETIME MEMBERS & Harcourt LLP $10,000 - $24,999 Philip J. Hendel Hendel & Collins PC Gregory S. Abrams & Joseph L. Steinfeld Kenneth C. Henry A.S.K. Financial, Inc. BDO Seidman LLP Gerald P. Buccino Buccino & Associates, Inc. Mitchell H. Cohen Gordon Brothers Retail Partners LLP Barbara A. Everly Leslie H. Miles Jr. MB Valuation Services, Inc. Daniel F. Dooley & Baker A. Smith Morris Anderson & Associates Ltd. Prof. Robert M. Zinman St. John’s University School of Law
SUSTAINING MEMBERS $2,000 - $4,999 Becket & Lee LLP
High Ridge Partners Nancy Ross, Pat Cavanaugh & Mike Eber
Gary D. Bernhardy Carl Marks Consulting Group
Douglas Jessop Jessop & Company PC
Scott Bernstein SB Capital Group LLC
William I. Kohn Sachnoff & Weaver
Matthew Bordwin Keen Consultants LLC
KPMG LLP Gary W. Burns
Paul Bennett Bran Dickstein, Shapiro, Morin & Oshinsky LLP
E. Bruce Leonard Cassels, Brock & Blackwell James B. Matthews Prime Locations Consulting
Prof. Daniel U. Bussel Klee, Tuchin, Bogdanoff & Stern LLP
Karen Cordry National Association of Attorneys General Hon. J. Michael Deasy U.S. Bankruptcy Court
Nell Hennessy Dillon E. Jackson Foster Pepper & Shefelman Hon. Lee M. Jackwig U.S. Bankruptcy Court Alan M. Jacobs AMJ Advisors LLC J. James Jenkins J. James Jenkins CPA Soneet R. Kapila Kapila & Company Danny C. Kelly Stoel Rives LLP Richardo I. Kilpatrick Kilpatrick & Associates Faye Knowles
Holly Felder Etlin Crossroads LLC
Joel H. Levitin Dechert
Gus Michael Farinella
James M. Lukenda Huron Consulting Group LLC
Leonard H. Gilbert Holland & Knight LLP Peter Gilhuly Latham & Watkins Hon. William H. Gindin U.S. Bankruptcy Court Jeffrey Gordon IAR Group LLC Christopher F. Graham Thacher Proffitt & Wood
Scott Peltz American Express Tax & Business Services Thomas J. Petters Petters Company Lisa M. Poulin PricewaterhouseCoopers LLP Timothy T. Read Jonathan Reich Michael Fox International M. Freddie Reiss PricewaterhouseCoopers LLP Salomon Green & Ostrow Chester B. Salomon Sanford Sigoloff Sigoloff & Associates Inc. Edward J. Siskin Fleet Retail Finance Inc. Frank A. Somers Bank of America
Hon. Raymond T. Lyons James H.M. Sprayregen Kirkland & Ellis U.S. Bankruptcy Court Josefina Fernandez McEvoy McEvoy and Associates PC Thomas M. Messana Markowitz, Davis, Ringel & Trusty PA
Hon. Wesley W. Steen U.S. Bankruptcy Court Lynn Lewis Tavenner Tavenner & Beran PLC United Way of Miami-Dade
Weldon L. Moore III Creel, Sussman & Moore
Lawrence M. Schantz Adorno & Zedar PA
Neil P. Olack Jones, Day
Hon. Eugene R. Wedoff U.S. Bankruptcy Court
Christian Carl Onsager The Broe Companies
Stephen D. Wheelis Wheelis & Rozanski
Gilbert C. Osnos Osnos Associates Inc.
Colin W. Wied C.W. Wied PC
Hon. John K. Pearson U.S. Bankruptcy Court
Joseph J. Wielebinski Munsch, Hardt, Kopf & Harr PC
Daniel Carl Green Racine, Olson, Nye, Budge Joseph A. Peiffer Day, Rettig, Peiffer & Bailey & Johansen PC Wayne M. Greenwald Greenwald & Rimberg LLP
Louis A. Zircher
ENDOWMENT FUND
Board of Directors
(April 2002-April 2003) C H R I S TO P H E R F. G R A H A M Thacher Proffitt & Wood
W I L L I A M J. P E R L S T E I N Wilmer Cutler & Pickering
H E N RY E . H I L D E B R A N D , I I I Lassiter, Tidwell & Hildebrand PLLC
ROBIN E. PHELAN Haynes and Boone LLP
H O N . D AV I D W. H O U S TO N , I I I U.S. Bankruptcy Court
JOHN RAO National Consumer Law Center
DILLON E. JACKSON Foster Pepper & Shefelman PLLC
H O N . S T E V E N W. R H O D E S U.S. Bankruptcy Court
R E G I N A L D W. J A C K S O N Vorys, Sater, Seymour & Pease LLP
H O N . L I N D A B. R I E G L E U.S. Bankruptcy Court
JOEL H. LEVITIN Dechert
NANCY A. ROSS High Ridge Partners Inc.
JEAN E. MAESS West Group
SANDRA SCHIRMANG Kraft Foods Inc.
J A M E S T. M A R K U S Block Markus Williams LLC
E D W A R D J. S I S K I N Fleet Retail Finance Inc.
J O S E F I N A F E R N A N D E Z M C E V OY McEvoy and Associates PC
K E N T V. S N Y D E R Snyder & Associates
HON. LEIF M. CLARK U.S. Bankruptcy Court
RICHARD E. MIKELS Mintz, Levin, Cohn, Ferris, Glovsky & Popeo PC
* J A M E S H . M . S P R AY R E G E N Kirkland & Ellis
K A R E N C O R D RY National Association of Attorneys General
P R O F . G R A N T W. N E W TO N Pepperdine University
KENNETH R. CRONE
BENJAMIN L. NORTMAN Hilco Trading Co. Inc.
SANFORD R. EDLEIN Glass & Associates Inc.
N E I L P. O L A C K Jones, Day, Reavis & Pogue
J A M E S S. F E LT M A N KPMG LLP
CHRISTIAN CARL ONSAGER The Broe Companies
MICHAEL FISHMAN Foothill Capital Corp.
C O L L E E N A . PA L M E R GE Capital Commercial Finance Inc.
HON. JUDITH K. FITZGERALD U.S. Bankruptcy Court
R . C A R T E R P AT E PricewaterhouseCoopers LLP
*KEITH J. SHAPIRO Chairman Greenberg Traurig LLP
LAWRENCE R. AHERN III Gullet, Sanford, Robinson & Martin PLLC
* R I C H A R D O I . K I L PAT R I C K Immediate Past President Kilpatrick & Associates PC
J O H N W. A M E S Greenebaum Doll & McDonald PLLC
* A N D R E W W. C A I N E President (Term to April 2003) Pachulski, Stang, Ziehl, Young & Jones PC * BETTINA M. WHYTE President–elect AlixPartners LLC * MITCHELL H. COHEN Treasurer Gordon Brothers Retail Partners LLC * L E O N A R D P. G O L D B E R G E R Vice President–Membership White and Williams LLP * S T E V E N G. G O L I C K Vice President–International Affairs Osler, Hoskin & Harcourt LLP * J O H N D. P E N N Vice President–Publications Haynes and Boone LLP * M I C H A E L P. R I C H M A N Vice President–Development Mayer, Brown, Rowe & Maw * H O N . W E S L E Y W. S T E E N Vice President–Research U.S. Bankruptcy Court * J U DY D. T H O M P S O N Vice President–Education Poyner & Spruill LLP * P R O F . G. R AY W A R N E R Secretary Of Counsel, Greenberg Traurig LLP University of Missouri School of Law
GEOFFREY L. BERMAN Development Specialists Inc. * J O S E P H S. U. B O D O F F Bodoff & Associates * H O N . W I L L I A M T. B O D O H U.S. Bankruptcy Court M A R K V. B O S S I Thompson Coburn LLP * HON. WILLIAM H. BROWN U.S. Bankruptcy Court P R O F. R A L P H E . B R U B A K E R Emory University School of Law G A RY W. B U R N S KPMG LLP
JEAN K. FITZSIMON Sears Roebuck and Company
BOARD
HARVEY L. TEPNER Loeb Partners Corporation JOHN TITTLE JR. Deloitte & Touche LLP ROBERT H. WARSHAUER Ernst & Young Corporate Finance LLC HON. EUGENE R. WEDOFF U.S. Bankruptcy Court D E B O R A H D. W I L L I A M S O N Cox & Smith Incorporated
* Denotes Executive Committee Member
OF
DIRECTORS
ABI Staff E XECUTIVE D IRECTOR D IRECTOR
A DMINISTRATION
K ATHY L. S HEEHAN
A CCOUNTING C OORDINATOR
S AMORY L IGONDÉ
OF
S TAFF A CCOUNTANT A CCOUNTS R ECEIVABLE M ANAGER D IRECTOR ABI staffers pose with the Grammy Award-winning Temptations at the 20th Annual Spring Meeting.
OF
C OMMUNICATIONS
C OMMUNICATIONS C OORDINATOR P UBLIC A FFAIRS C OORDINATOR W EBMASTER D ESKTOP P UBLISHING S PECIALIST M EMBERSHIP D IRECTOR M EMBERSHIP R ETENTION M ANAGER
“Liquidated Assets,” the ABI staff softball team.
S AMUEL J. G ERDANO, E SQ.
A RZU B AGCI C HRISTY J ONES M ELISSA L. L ANNING C AROLYN M. K ANON R ALI M ILEVA M ITCH I RZINSKI A NNA M C G ARITY L AMB C HRISTOPHER S. T HACKSTON K IMBERLY H AY
M EMBERSHIP S PECIALIST
B EVERLY H OEFTMAN
M ARKETING C OORDINATOR
S HARISA L. S LOAN
M EETING P LANNER
J OHN C. G OOD
M EETING P LANNER
J ENNIFER DANNEMILLER
M EETING P LANNER
VANESSA M. YORK
R ECEPTIONIST /S TAFF A SSISTANT
PAT N OBOA
S TAFF A SSISTANT /CLE C OORDINATOR
A NA Q UADA
A B I S TA F F
Committees ABI committees work on specific projects and issues important to the insolvency field. Committee members convene at the Institute’s two national conferences and throughout the year at various regional meetings. This year, ABI introduced committee listserves, enabling committee members to work more closely and discuss on a daily basis the latest committeerelated news and issues. (The following list is current as of July 25, 2002.) ASSET SALES
Co-chairs: Benjamin L. Nortman Hilco Trading Co. Inc. Richard N. Tilton
BANKRUPTCY A D M I N I S T R AT I O N
A LTERNATIVE D ISPUTE R ESOLUTION S UBCOMMITTEE Co-chairs: Lisa Hill Fenning Dewey Ballantine LLP Hon. Erwin I. Katz U.S. Bankruptcy Court
BUSINESS
R E O R G A N I Z AT I O N
S UBCOMMITTEE ON I NSURANCE , C ONSTRUCTION & S URETY Co-chairs: Lawrence R. Ahern III Gullett, Sanford, Robinson & Martin PLLC J. Gregg Miller Pepper Hamilton LLP S UBCOMMITTEE ON H OSPITALITY, E NTERTAINMENT V ENUES & G AMING Chair: Rudy J. Cerone McGlinchey Stafford PLLC S UBCOMMITTEE ON S MALL B USINESS Chair: Deborah A. Crabbe Foster, Pepper & Shefelman, PLLC
COMMERCIAL FRAUD TA S K F O R C E Co-chairs: Sandra T. Rasnak U.S. Trustee Program National Bankruptcy Fraud Coordinator Maureen A. Tighe U.S. Trustee – Region 16
CONSUMER BANKRUPTCY Co-chairs: Hon. William H. Brown U.S. Bankruptcy Court Hon. Eugene R. Wedoff U.S. Bankruptcy Court
Vice Chairs: Dennis R. Dow Shook, Hardy & Bacon LLP
B A N K R U P T C Y T A X AT I O N Thomas J. Yerbich Chair: Prof. Jack F. Williams Georgia State University/ BDO Seidman LLP
U.S. T RUSTEE S UBCOMMITTEE Co-chairs: Co-chairs: Robert J. Keach Margaret A. Hunter Bernstein, Shur, Sawyer KPMG, LLP & Nelson Vice Chair: Brenda M. Whinery Charles F. Rosen Anthony H. Schnelling Law Offices of A. Lavar Taylor A UTOMATION S UBCOMMITTEE Bridge Associates LLC Chair: SUBCOMMITTEE ON AGRICULTURE Hon. Lee M. Jackwig Chair: U.S. Bankruptcy Court Rick A. Yarnall Chapter 13 Trustee
U.S. District Court Alaska
ETHICS Co-chairs: Richard P. Carmody Lange, Simpson, Robinson & Sommerville LLP Richard M. Meth Herrick, Feinstein LLP
COMMITTEES
Committees FINANCE & BANKING
INVESTMENT BANKING
Co-chairs: Co-chairs: Peter Antoszyk Peter S. Kaufman Brown Rudnick Berlack Israels Gordian Group LP Mark D. Collins Richards, Layton & Finger
FINANCIAL ADVISORS Co-chairs: Robert A. Morris Morris Anderson & Associates Claudia Slacik Citibank
H E A LT H C A R E Co-chairs: William W. Kannel Mintz, Levin, Cohn, Ferris, Glovsky & Popeo PC Samuel R. Maizel Pachulski, Stang, Ziehl, Young & Jones PC
I N T E R N AT I O N A L Co-chairs: George M. Kelakos Heller, Ehrman, White & McAuliffe LLP
Andrew B. Miller Houlihan Lokey Howard & Zukin
LAW SCHOOL Co-chairs: Christopher F. Graham Thacher Proffitt & Wood Prof. Robert M. Zinman St. John’s University School of Law
L E G I S L AT I O N Co-chairs: Hon. David W. Houston III U.S. Bankruptcy Court Hon. George C. Paine II U.S. Bankruptcy Court
M A S S TO RT S – FUTURE CLAIMS Co-chairs: Hon. Judith K. Fitzgerald U.S. Bankruptcy Court
Josefina Fernandez McEvoy Theodore L. Freedman McEvoy and Associates PC Kirkland & Ellis Ian G. Williams Edwards Geldard
PROFESSIONAL C O M P E N S AT I O N Co-chairs: John W. Ames Greenebaum Doll & McDonald PLLC James D. Sweet Murphy & Desmond
P U B L I C C O M PA N I E S & CLAIMS TRADING Co-chairs: Geoffrey Groshong Miller Nash LLP Glenn E. Siegel Dechert
R E A L E S TAT E Co-chairs: John Collen Duane Morris LLP Alec P. Ostrow Salomon, Green & Ostrow PC
TECHNOLOGY &
T E L E C O M M U N I C AT I O N S CASES Co-chairs: Joel H. Levitin Dechert Nancy A. Peterman Greenberg Traurig
UNIFORM COMMERCIAL CODE Co-chairs: Mark V. Bossi Thompson Coburn LLP Brent R. Cohen Rothgerber Johnson & Lyons
UNSECURED TRADE C R E D I TO R S Co-chairs: Doug G. Fox Bosch Rexroth Corporation Lynnette R. Warman Jenkens & Gilchrist PC
YO U N G M E M B E R S Co-chairs: Douglas E. Deutsch Chadbourne & Parke LLP Melissa Kibler Knoll KPMG LLP Brian L. Shaw Shaw, Gussis, Fishman, Glantz & Wolfson LLC For more detailed information on committees and their members, visit our web site: www.abiworld.org/committees/.
COMMITTEES