2O14 • 2O15 CALENDAR
annual report 2O14 ANNUAL REPORT & 2O14 • 2O15 CALENDAR the essential resource for today’s busy insolvency professional
66 Canal Center Plaza • Suite 600 • Alexandria, VA 22314
FIRST AND FOREMOST YOUR ABI Brian L. Shaw President
James T. Markus Board Chairman
James P. Shea President-Elect
Samuel J. Gerdano Executive Director
HIGHLIGHTS
FOUNDED IN 1982 in response to the enactment of the Bankruptcy Reform Act, the American
Bankruptcy Institute has its birthright in public policy. In 2014, ABI completed its most ambitious policy initiative ever with the December release of the Final Report of the Commission to Study the Reform of Chapter 11. The 20 members of the Commission and the more than 130 Advisory Committee members are among the most prominent insolvency professionals in history. Their Final Report is the product of a nearly three-year study. The recommendations presented to Congress and the public are designed to carefully balance the interests of all stakeholders while maximizing enterprise value and job preservation.
ABI’s member committees were more active than ever in 2014, producing content-rich insights via electronic newsletters, webinars and topical conference calls. Committees continue to be an accessible
abi.org
vehicle to get involved in ABI, allowing you to emerge as a future leader. ABI’s service to professionals is demonstrated anew with the launch this year of a new distance learning CLE vehicle to bring our renowned educational programs to law firms on a more cost-effective basis than ever before. We look forward to continuing to engage with and serve our nearly 13,000 members throughout 2015.
2O14 ANNUAL REPORT AND 2014 • 15 CALENDAR
table of contents
November 2O14 Think ABI First testdrive.abi.org
April 2O15 elearning.abi.org cle.abi.org
December 2O14 search.abi.org volo.abi.org
May 2O15 news.abi.org connect.abi.org
January 2015 abi.org
June 2015 opinions.abi.org 363.abi.org
February 2015 commission.abi.org March 2O15 journal.abi.org lawreview.abi.org
July 2015 global.abi.org 2014 Events events.abi.org
August 2O15 care4yourfuture.org
Board of Directors & ABI Staff
September 2O15 committees.abi.org
2O13 ABI Statement of Financial Position 2O14 ABI Partners
October 2O15 bookstore.abi.org November 2015 abcworld.org December 2015 law.abi.org bankruptcy resources.abi.org
2014•15 Media Kit & Endowment Pledge mediakit.abi.org “DISCOVER ABI” 2O14•15 Event Schedule
Endowment Fund endowment.abi.org
abi.org
NOVEMBER 2014
Think ABI First ABI’s ongoing mission is to be the leading resource for building long-term business relationships, analyzing legal content and fulfilling CLE requirements in service to its members. In 2014, ABI launched its “Think ABI First” campaign to build member awareness of all of the benefits that come with ABI membership — publishing and networking opportunities, comprehensive research tools, high-quality insolvency education — and to inform members that they have access to these benefits for one low annual fee. Think ABI First reminds ABI members that they need look no further than the largest insolvency organization for all of their professional needs.
testdrive.abi.org Test Drive Program ABI’s Test Drive program gives prospective members full access to all of ABI’s online tools and resources free for 30 days. ABI plans to continue and expand upon the Test Drive program into 2015.
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ABI’s Membership is comprised of 67% attorneys; the remaining 33% are comprised of: Appraiser/Liquidator/Auctioneer 15% Credit Counseling & Collections 5% Financial Services/Advisory 20% Investment Banker 10% Judge & Judicial Administrative 15% Trustee 10% Turnaround Professional 25%
Daylight Saving Time Ends
Election Day
Complex Financial Restructuring Program November 6 • Philadelphia
“DISCOVER ABI” Webinar
Corporate Restructuring Competition November 6 -7• Philadelphia
Detroit Consumer Bankruptcy Conference November 11 • Detroit
Chicago Consumer Bankruptcy Conference November 11 • Chicago Veterans Day
Mid-Level Professional Development Program November 12 • Chicago
December Journal online
Thanksgiving
DECEMBER 2014
search.abi.org PUBLICATIONS
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Nearly 700 members attended the 2013 Winter Leadership Conference at Rancho Palos Verdes, Calif. and more than 1,000 attended the 2014 Annual Spring Meeting on its return to downtown Washington, D.C. Overall, more than 7,000 professionals attended ABI educational programs during 2013.
December Journal mails
Winter Leadership Conference •December 4-6• La Quinta, Calif. 40-Hour Mediation Training Program December 7-11 • New York
CLE CONFERENCE MATERIALS
VOLO CASE SUMMARIES ABI JOURNAL
July 2014 • Vol. XXXIII, No. 7
The Essential Resource for Today’s Busy Insolvency Professional
Special Section
Getting Paid After Lehman pages 14, 16 and 18 August 2014 • Vol. XXXIII, No. 8
By Donald A. Workman, Dena S. Kessler, George Klidonas, Clifford J. White, III, John Sheahan and Jeffrey Chubak
The Essential Resource for Today’s Busy Insolvency Professional
Constitutional and Statutory Limits After Executive Benefits page 14
June 2014 • Vol. XXXIII, No. 6
September 2014 • Vol. XXXIII, No. 9
By Danielle Spinelli and Craig Goldblatt
Seventh Circuit Gives More Shelter to Investors under § 546(e) page 14
On the Inside
On the Inside Is the Unfinished-Business Secured Lender’s Credit-Bid Capped in Free Lance-Star Rule Finished?
The Rise of Plan Mediation: Benefits page 12 and Pitfalls page 28 By Damian S. Schaible and Eli J. Vonnegut By Paul R.
The Essential Resource for Today’s Busy Insolvency Professional
The Essential Resource for Today’s Busy Insolvency Professional
page 30
By Tyler P. Brown, Jason W. Harbour and Justin F. Paget
Hage and Patrick R. Mohan
By Brian L. Shaw and David R. Doyle
Lessons from Fas Mart: Examiner Must Have Industry Expertise page 44
On the Inside Mortgages Should Be Removed from Repo Agreement Safe Harbors page 10 By Hon. Christopher S. Sontchi
Eleventh Circuit: “Chapter 20” Debtors Can Strip Off Liens page 54 By Arthur J. Spector, Ilyse M. Homer and Paul A. Avron
On the Inside Reimbursement of Fees and Expenses in Chapter 15 Cases page 26 By Adam G. Landis and Jeffrey R. Drobish
Are Low Interest Rates Distorting Your Valuation Model? page 30 By Ellen Larson and John Yozzo
Of Bunnies and Moneys: Fixing Trustee Payment under § 326(a) page 44 By Jordan A. Kroop and Bradley A. Cosman A Fish Out of Water: Streamlining Plan Confirmation for Individual Chapter 11 page 52
By Mark E. Hall and Tara J. Schellhorn Strengthening Pre-Insolvency Tools: A U-Turn in Spain’s Restructuring Legislation page 36 By Adam Gallagher, Jesús López Bragado and Jorge Puyol
Winter Leadership Conference Schedule of Events page 44
BANKRUPTCY CODE
One Search and You’re Done! Search.abi.org is, quite simply, the most powerful and cost-effective benefit of ABI membership. It enables members to search any keyword, term or Bankruptcy Code section and have instant results across the entire spectrum of ABI information platforms. More than 3 million keywords search more than 100,000 documents to provide members with unparalleled bankruptcy information. Members have immediate access to every issue of the ABI Journal since 1997; every ABI Law Review since 1995; every ABI book; and a panoply of CLE conference materials, Volo case summaries and other exclusive ABI content.
volo.abi.org Volo One of the most widely used ABI products is its exclusive Volo site, volo.abi.org. Relying on a dedicated cadre of experienced bankruptcy practitioners, Volo provides full case summaries within 24 hours of every bankruptcy decision. As an ABI member, you can customize Volo so that it provides only cases from a particular circuit, or sends you alerts whenever there are updates or cases related to an existing decision. And with all of the cases available through ABI’s powerful search engine, members always have the best and latest information accessible through all digital devices. In 2014, Volo had 30,000 unique visitors. In addition, the number of Volo summaries reached almost 1,600 — and the numbers continue to climb.
I
“DISCOVER ABI” Webinar
By Roy M. Terry, Jr. and Elizabeth L. Gunn
Stepping Past Standing: The Role of Excess Insurers in Environmental Cases page 36 By Brittany N. Mills and C.R. “Chip” Bowles, Jr.
60,000 Sessions
40-Hour Mediation Training Program December 7-11 • New York
120,000 Page Views I 30,000 Unique Visitors
Hanukkah Begins at Sundown
First Day of Winter
Christmas
January Journal online
New Year’s Eve New Year’s Day
abi.org
Working design of ABI’s new home page, to be unveiled in 2015
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ABI’s website is the organization’s primary communication vehicle to members and the public — a unique interactive experience rich in daily content. The site receives more than 1 million views and 33,000 unique visits each month.
New Year’s Day January Journal mails
“DISCOVER ABI” Webinar
New Orleans Consumer Bankruptcy Conference January 19 • New Orleans
Rocky Mountain Bankruptcy Conference January 22-23 • Denver
February Journal mails February Journal online
Martin Luther King Jr. Day
commission.abi.org FEBRUARY 2015 SUNDAY
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The ABI Commission to Study the Reform of Chapter 11 wrapped up its hearings in 2014, with a final report on its recommendations delivered to Congress in December 2014.
Groundhog Day
Caribbean Insolvency Symposium February 5-7 • Grand Cayman, Cayman Islands
“DISCOVER ABI” Webinar
Valentine’s Day
Presidents’ Day
VALCON 2015 February 25-27 • Las Vegas March Journal mails March Journal online
The 20-member Commission heard testimony throughout 2013 and 2014 on proposed reforms to chapter 11, and related statutory provisions, in order to make the case that chapter 11 needs to be reformed to better balance the goals of effectuating the effective reorganization of business debtors and preserving asset values for all creditors and stakeholders. ABI created this infographic and a video in September 2014 to help deliver the Commission’s message to members of Congress.
MARCH 2015
journal.abi.org Delivering Expert Analysis to Members, from Members The ABI Journal is the flagship publication of the American Bankruptcy Institute and covers
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In 2014, the ABI Journal officially became a monthly publication. ABI members now have 12 opportunities each year to become published in the most prestigious periodical of the insolvency profession.
the entire range of insolvency issues, featuring timely articles written by some of the most knowledgeable professionals in the field. The Journal can be downloaded for both Kindle and Nook, and features an iTunes app for iPad and iPhone. With an Android version of the app planned to join this variety of formats, the ABI Journal will reach members in more ways than ever before.
It just got easy to be green.
ABI has an iPad app!
Download the app to your iPad at Journal.ABI.org and all future issues of the award-winning ABI Journal will be sent automatically to your device. Now you can enjoy the most incisive writing on bankruptcy matters anywhere you go!
The ABI Journal app is made available thanks to Kurtzman Carson Consultants LLC.
Advertising in the ABI Journal is one of the best ways to showcase your product or service. The Journal reaches nearly 13,000 members 12 times a year and has a pass-along rate of 55 percent – making it one of the most effective marketing vehicles in the insolvency industry. The online and epub versions of the Journal expand that reach even further and provide such options as embedded video. Visit mediakit.abi.org to get started.
lawreview.abi.org The American Bankruptcy Institute Law Review is the nation’s largest-circulation bankruptcy law journal, with more than 5,500 subscribers. Top students at St. John’s University School of Law compile and edit it twice a year, and each issue is published by West, a Thomson Reuters business. An advisory board of bankruptcy judges, scholars and practitioners helps plan theme issues. Profs. G. Ray Warner and Keith Sharfman of St. John’s University School of Law serve as the board chairs and faculty advisors.
The Winter 2014 issue featured a series of articles from a symposium on hedge funds in bankruptcy.
The Summer 2014 issue featured a roundtable discussion on the Supreme Court’s decision in Executive Benefits Insurance Agency v. Arkison.
ABI Law Review Advisory Board Chairs Prof. Keith Sharfman (Co-advisor) St. John’s University School of Law
Prof. G. Ray Warner (Co-advisor) St. John’s University School of Law
ABI Law Review Advisory Board
Prof. Stephen J. Lubben
Prof. Marie T. Reilly
Prof. Lois R. Lupica
Prof. Mark S. Scarberry
Mark N. Berman
University of Maine School of Law
William L. Medford
Hon. Brendan Linehan Shannon
Hon. Paulette J. Delk
Quilling, Selander, Lownds, et al.
Prof. Juliet M. Moringiello
Widener University School of Law
Paul D. Sinclair
Hon. Craig A. Gargotta
Hon. Cecelia G. Morris
U.S. Bankruptcy Court (S.D.N.Y.)
Prof. Michael D. Sousa
Kristin K. Going
Prof. Edward R. Morrison Columbia Law School
Francisco Vazquez
Prof. John P. Hennigan
Prof. Grant W. Newton
Pepperdine University School of Law
Victor A. Vilaplana
J. Eric Ivester
Dillon E. Jackson
Emergency Manager, City of Detroit
Prof. Edward Janger
Univ. of California-Irvine School of Law
Hon. Christopher M. Klein
University of Michigan Law School
Prof. Adam J. Levitin
Stetson University College of Law
Nixon Peabody LLP
U.S. Bankruptcy Court (W.D. Tenn.) U.S. Bankruptcy Court (S.D. Tex.) Drinker Biddle & Reath LLP St. John’s University School of Law Skadden, Arps, Slate, Meagher & Flom LLP Foster Pepper PLLC
Brooklyn Law School
U.S. Bankruptcy Court (N.D. Cal.) Harvard Law School
Seton Hall Law School
Kevyn D. Orr
Prof. Katherine M. Porter Prof. John A. E. Pottow
Prof. Theresa J. Pulley Radwan Dean Robert K. Rasmussen
Univ. of Southern California Gould School of Law
ABI/Stetson Alexander L. Paskay Memorial Bankruptcy Seminar March 5-7 • Tampa, Fla.
“DISCOVER ABI” Webinar
Duberstein Bankruptcy Moot Court Competition March 7-9 • New York
Daylight Saving Time Begins
Byrne Judicial Clerkship Institute March 12-13 • Malibu, Calif.
St. Patrick’s Day
First Day of Spring
Bankruptcy Battleground West March 24 • Los Angeles
Palm Sunday
April Journal online
Penn State Univ. Dickinson School of Law Pepperdine University School of Law U.S. Bankruptcy Court (D. Del.) Polsinelli
University of Denver College of Law Chadbourne & Parke LLP Foley & Lardner LLP
Robert M. Zinman Tarrytown, New York (Chairman-Emeritus)
Prof. Michelle M. Harner (University of Maryland School of Law; Baltimore) (r), along with Jamie Marincic Griffin (University of Michigan; Ann Arbor, Mich.) and Jennifer IveyCrickenberger (University of Maryland School of Law) (not pictured), were presented with the Wes Steen Prize by Prof. G. Ray Warner (St. John’s University School of Law; Jamaica, N.Y.) for their article “Activist Investors, Distressed Companies and Value Uncertainty,” which was featured in the Winter 2014 issue of the ABI Law Review. The annual prize, named after former ABI President Wesley W. Steen (S.D. Tex.), is awarded for the best article as determined by the ABI Law Review Advisory Board.
elearning.abi.org Cutting-Edge Insolvency Courses On Demand ABI’s elearning site has provided many ABI members with quality on-demand CLE, carefully selected from the best programming from ABI’s conferences throughout the year. The site contains more topics than ever before, including ethics sessions, as well as ABI’s most popular online course, Bankruptcy Nuts & Bolts. More states are recognizing the value of on-demand CLE as well; in 2014, the list of pre-approved states grew to 15.
cle.abi.org On-Demand Insolvency CLE Firm Focus ABI’s All-Access On-Demand Insolvency CLE subscription provides only the most timely and relevant ABI educational sessions from a variety of conferences and elearning, providing firms with an ever-changing, dependable source of current, affordable insolvency CLE when and where it is needed. Check back frequently; new sessions are added all the time!
Quality ABI is the nation’s largest provider of bankruptcy CLE, and when it comes to insolvency education programming, ABI is at the head of the class. ABI conference sessions provide bankruptcy
APRIL 2015
More than 1,000 people attended elearning sessions in 2014, and with ABI’s new On-Demand Insolvency CLE program for law firms, attorneys can now access more online CLE than ever before.
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April Journal mails
“DISCOVER ABI” Webinar
Passover Begins at Sundown
Good Friday
Easter
Annual Spring Meeting • April 16-19 • Washington, D.C.
May Journal online
professionals with a wide array of high-quality, relevant instruction year after year, and ABI conference faculty are second to none when it comes to experience and insights.
ABI ONLINE CLE AME R I C AN B AN K RU P TCY I N S T I T U T E
DISTANCE LEARNING
ON-DEMAND INSOLVENCY CLE ALL ACCESS FOR LAW FIRMS
YOUR FIRM’S ON-DEMAND ALL-ACCESS PASS TO THE BEST OF ABI’S CONFERENCE SESSIONS In 2014, ABI launched a program enabling law firms to purchase bulk elearning sessions for their attorneys. Law firms can take advantage of special pricing by contacting Sharisa Sloan at ssloan@abiworld.org.
news.abi.org The 24-Hour News Source for Bankruptcy ABI’s Newsroom provides bankruptcy professionals, press and the public with cutting-edge insolvency news, statistics, commentary and more. As of September 2014, the site contains more than 50 videos, more than 150 podcasts, and hundreds of court decisions and opinions.
ABI Social Media ABI continues to grow its social media community with Twitter (twitter.abi.org), LinkedIn (linkedin.abi. org) and Facebook (facebook.abi.org). Posts about ABI events, news and products are crafted for each social network, engaging audiences for further conversation or sharing.
Followers on ABI’s social networks through September 2014: • LinkedIn: 5,244 • Twitter: 2,610 • Facebook: 1,577
MAY 2015
ABI’s newsroom site is continually updated with statistics, analysis, headline news, charts, press releases, congressional hearing information, videos and Quick Poll questions. It also features a timeline of bankruptcy history.
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abi.org
May Journal mails
Credit and Bankruptcy Symposium May 7-8 • Uncasville, Conn.
“DISCOVER ABI” Webinar
Mother’s Day
New York City Bankruptcy Conference May 14 • New York
Litigation Skills Symposium May 19-22 • Chicago
Shavuot Begins at Sundown
Memorial Day
June Journal online
JUNE 2015
Opinions Like Volo, the Opinions site — opinions.abi.org — is a rich database that provides summaries of bankruptcy-related opinions issued by U.S. bankruptcy courts, district courts and circuit courts of appeals since 2005. The site now contains more than 11,000 opinion summaries searchable by keyword, relevant Code section, court and judge. The opinion summaries are provided by our partner, LexisNexis, and are updated weekly.
363.abi.org Asset Sales Databank: The Key to § 363 ABI’s 363 Asset Sales Databank provides key terms and conditions for recent selected sales pursuant to § 363. Data is organized by circuit and searchable by date, price or key terms, and users can receive court notifications of new asset sales via email or RSS feed.
Since November 2013, the Opinions site has received more than 17,000 unique visitors, making it one of the most popular sections of the ABI website.
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Central States Bankruptcy Workshop June 11-14 • Traverse City, Mich.
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Cross-Border Insolvency Program June 18 • New York
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June Journal mails
“DISCOVER ABI” Webinar
First Day of Summer
July Journal online
Memphis Consumer Bankruptcy Conference June TBA • Memphis, Tenn.
Father’s Day
globalinsolvency.abi.org
A Joint Project of ABI and INSOL International The Global Insolvency website features daily news headlines on insolvency developments around the globe. From current commentary and recent filings to international protocols and bankruptcy statutes to a database of chapter 15 cases, the site offers a range of information for insolvency practitioners, judges, accountants, trustees and others. ABI is also a partner with the World Bank’s Global Forum on Law, Justice and Development. The Global Insolvency website was redesigned in 2014 to provide visitors with a more user-friendly format.
2015 INTERNATIONAL PROGRAMS
Grand Cayman February 5~7, 2015
Beijing July 6~7, 2015
Madrid October 23, 2015
JULY 2015
INSOL International serves as the umbrella association of organizations involved in international insolvency and restructuring law.
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globalinsolvency.com
July Journal mails
Independence Day
China International Insolvency Symposium July 6-7• Beijing, China
Northeast Bankruptcy Conference July 9-12 • North Falmouth, Mass.
Southeast Bankruptcy Workshop July 23-26 • Amelia Island, Fla.
August Journal mails
August Journal online
daily news headlines on insolvency developments around the globe
GLOBAL INSOLvency — a joint project of the American Bankruptcy Institute and INSOL International
“DISCOVER ABI” Webinar
events.abi.org
More than 7,000 members attended ABI conferences in 2014. ABI is the largest CLE provider in the bankruptcy space, with multiple opportunities for education and business development.
Some of the 2014 Hawai’i Bankruptcy Workshop presenters including Hon. Loyd King (center) and, to his left , former ABI presidents James T. Markus and Patricia A Redmond. One of the most anticipated highlights of the 2014 Annual Spring Meeting was the Friday luncheon, which featured a keynote delivered by Kevyn Orr, emergency manager for the City of Detroit. The 2014 Winter Leadership Conference is right around the corner, and we look forward to seeing you all at the beautiful La Quinta Resort and Club on December 4th in La Quinta, California!
Attendees mingled in the three-story foyer at the JW Marriott in downtown Washington, D.C. during the 2014 Annual Spring Meeting. A distinguished group of bankruptcy judges appears to be rendering a favorable ruling on their experience at the 2014 Southwest Bankruptcy Conference. Attendeees enjoy a BBQ lunch at the 2014 Mid-Atlantic Bankruptcy Workshop.
Good times for a good cause: The August 2014 outing to the Orioles Park at Camden Yards was a chance to see retiring Yankee shortstop Derek Jeter and raise money for the Anthony H.N. Schnelling Endowment Fund. Outgoing ABI President Trish Redmond (Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA; Miami) (l) passed the gavel to her successor, Brian L. Shaw (Shaw Fishman Glantz & Towbin LLC; Chicago), during ABI’s Annual Spring Meeting in Washington, D.C., in April 2014.
Palm trees and Pacific breezes greeted Hawai’i Bankruptcy Workshop attendees.
Members flipped through copies of ABI’s latest publications at the ABI Bookstore during breaks at the 2013 Winter Leadership Conference. Titles are available for purchase at bookstore.abi.org.
“The Ethics of Using Social Networking Sites” was presented at the 2013 Winter Leadership Conference.
ABI’s International Insolvency & Restructuring Symposium returned to London in 2014.
Hon. Barbara Houser discusses the Bellingham case during a June 2014 ABI Workshop streamed live from the Alexandria ABI headquarters.
Throughout 2014 ABI held several well-attended workshops at its conference facility located at ABI headquarters, with many more scheduled for 2015.
Ted Gavin (Gavin/Solmonese LLC ; Wilmington, Del.) (above) introduced the Final Night Dinner entertainment at the 2013 Winter Leadership Conference, former “Tonight Show” host Jay Leno.
June 2014’s Cross-Border Insolvency Program featured commentary on the Argentine debt crisis.
The rocky cliffs of the Terranea Resort in Rancho Palos Verdes, Calif., and breathtaking views of the Pacific served as the backdrop for the 2013 Winter Leadership Conference.
care4yourfuture.org
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Founded in 2002, the CARE financial literacy program has grown to 203 volunteer presenters and more than 2,000 classroom educators as of September 2014.
Mid-Atlantic Bankruptcy Workshop August 6-8 • Hershey, Pa.
“DISCOVER ABI” Webinar
September Journal mails
September Journal online
Credit Abuse Resistance Education CARE spent a lot of time on the road in 2014 thanks to a grant from the NCBJ Endowment for Education, which enabled CARE to promote the program at several national educational conferences, including the annual meetings of the National Association of Independent Schools, American Association of Family and Consumer Sciences, and the Council for Economic Education. CARE also participated in Financial Literacy Day on Capitol Hill and recruited several volunteers at insolvency conferences around the country, including the National Conference of Bankruptcy Judges, the National Association of Bankruptcy Trustees and the National Conference of Bankruptcy Clerks, and at ABI events.
Eight workshop sessions educated and inspired attendees at CARE’s first Financial Literacy Conference , held in September 2014.
Knowledge Advocate Kevin Leahy explains the inner workings of the human brain during the “Neuroscience of Debtors” luncheon session at the CARE conference.
I ndie band GOODING rockedthe Singley Academy Auditorium during CARE’s conference (http://fundingthefuturelive.org/).
CARE Founder Judge John C. Ninfo II speaks to 400 high school students at the Irving ISD Jack E. Singley Academy about financial literacy.
Conference Chair Frank Broyles (c) shares his enthusiasm with CARE Director John Good (l) and CARE Founder Hon. John C. Ninfo II.
committees.abi.org Connect • Learn • Grow ABI has 18 active committees, each focused on a specific area of insolvency. Committees are active year-round and foster collaboration with other bankruptcy practitioners from around the country. Committee participation is one of the most effective ways to build and establish relationships with other members and a valuable way to demonstrate your leadership within the bankruptcy community. In 2014, ABI’s committees expanded with the addition of the Mediation Committee. ABI committees held 9 teleconferences and produced 70 newsletters throughout the year. In addition, ABI’s Survival Guide for the New Lawyer: What They Didn’t Teach You in Law School, published in August 2014, was produced by members of ABI’s Young & New Members Committee.
2014 • 2015 Committee Leadership Asset Sales John B. Hutton, III
Greenberg Traurig, LLP • Miami huttonj@gtlaw.com
Franklind D. Lea
International Lorenzo Mendizabal
Epiq Systems, Inc. • New York lmendizabal@epiqsystems.com
Christopher R. Mirick
Tactical Financial Consulting, LLC • Atlanta franklindlea@tacticalfinancialconsulting.com
Pillsbury Winthrop Shaw Pittman LLP • New York christopher.mirick@pillsburylaw.com
Bankruptcy Litigation B. Summer Chandler
Labor and Employment Mark A. Bogdanowicz
McCalla Raymer, LLC • Panama City, Fla. schandler@mccallaraymer.com
Kenneth Pasquale
Howard & Howard Attorneys, PLLC • Peoria, Ill. mbogdanowicz@howardandhoward.com
Bradford J. Sandler
Stroock & Stroock & Lavan LLP • New York kpasquale@stroock.com
Pachulski Stang Ziehl & Jones LLP • Wilmington, Del. bsandler@pszjlaw.com
Bankruptcy Taxation George Klidonas
Legislation Neil C. Gordon
BakerHostetler • New York gklidonas@bakerlaw.com
Eric D. Madden
Arnall Golden Gregory LLP • Atlanta neil.gordon@agg.com
Jon Jay Lieberman
Reid Collins & Tsai LLP • Dallas emadden@rctlegal.com
Weltman Weinberg & Reis Co., LPA • Cincinnati jlieberman@weltman.com
Business Reorganization Henry P. Baer, Jr.
Mediation Robert M. Fishman
Finn Dixon & Herling LLP • Stamford, Conn. hbaer@fdh.com
Shaw Fishman Glantz & Towbin LLC • Chicago rfishman@shawfishman.com
Steven C. Krause
Real Estate Nathan A. Carney
Owl Creek Asset Management, L.P. • New York stevek@owlcreeklp.com
Commercial Fraud Marion Hecht
Carney Law Firm, P.A. • Tampa, Fla. ncarney@carneylawfirm.com
Patrick A. Clisham
CliftonLarsonAllen LLP • Arlington, Va. Marion.Hecht@claconnect.com
Engelman Berger, PC • Phoenix pac@eblawyers.com
Richard S. Lauter
Secured Credit Thomas M. Horan
Freeborn & Peters LLP • Chicago rlauter@freebornpeters.com
Consumer Bankruptcy Caralyce M. Lassner
Womble Carlyle Sandridge & Rice, LLP • Wilmington, Del. thoran@wcsr.com
Bryan R. Kaplan
Caralyce M. Lassner, JD, PC • Utica, Mich. caralyce@lassnerlaw.com
Paul Hastings LLP • New York bryankaplan@paulhastings.com
Richard H. Thomson
Technology and Intellectual Property Jason S. Brookner
Clark & Washington, LLC • Atlanta rich@bkatlanta.com
Ethics and Professional Compensation Andrew R. Vara Office of the U.S. Trustee • Cleveland andy.vara@usdoj.gov
John W. Weiss
Alston & Bird LLP • New York john.weiss@alston.com
Financial Advisors and Investment Banking James A. Peko Grant Thornton LLP • New York jim.peko@us.gt.com
Christopher A. Ward
Polsinelli • Wilmington, Del. cward@polsinelli.com
Health Care Daniel A. DeMarco
Hahn Loeser & Parks LLP • Cleveland dad@hahnlaw.com
Warren J. Martin, Jr.
Porzio, Bromberg & Newman, PC • Morristown, N.J. wjmartin@pbnlaw.com
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ABI committees have produced reports, written books, and hosted educational programs and webinars, and they provide ways for new ABI members to become actively engaged.
“DISCOVER ABI” Webinar
Labor Day
Southwest Bankruptcy Conference September 10-12 • Las Vegas
Rosh Hashanah Begins at Sundown
October Journal mails
Yom Kippur Begins at Sundown First Day of Autumn
NCBJ/ABI Educational Program September 29 • Miami October Journal online
ABI/NYU Bankruptcy & Business Reorganization Workshop September TBA • New York ABI/NYIC Golf and Tennis and Fundraiser September TBA • TBA
Gray Reed & McGraw, PC • Dallas jbrookner@lrmlaw.com
John G. Loughnane
Nutter, McClennen & Fish, LLP • Boston jloughnane@nutter.com
Unsecured Trade Creditors Lisa S. Gretchko
Howard & Howard Attorneys PLLC • Royal Oak, Mich. lgretchko@howardandhoward.com
Brent I. Weisenberg
Ballard Spahr LLP • New York weisenbergb@ballardspahr.com
Young & New Members Brendan L. McPherson Polsinelli • Kansas City bmcpherson@polsinelli.com
Shane G. Ramsey
Kilpatrick Townsend & Stockton LLP • Atlanta sramsey@kilpatricktownsend.com
Bankruptcy Judge Hon. Kevin J. Carey (D. Del.; Wilmington) (standing) led the emerging leaders roundtable and judges’ roundtable at the 2014 Annual Spring Meeting.
ABI Director of Membership Chris Thackston (l) presented ABI Consumer Bankruptcy Committee Co-Chairs Nina M. Parker (Parker & Associates; Winchester, Mass.) (r) and Richard H. Thomson (Clark & Washington, LLC; Atlanta) with ABI’s Committee of the Year Award at ABI’s 2014 Annual Spring Meeting..
bookstore.abi.org Bookstore The ABI Bookstore (bookstore.abi.org) now offers more than 50 titles that cover the insolvency spectrum, from Bankruptcy in Practice to A Practical Guide to Bankruptcy Valuation. ABI books provide in-depth treatment of timely topics and issues for both new and experienced practitioners. Two of ABI’s 2014 titles are Advanced Fraudulent Transfers: A Litigation Guide and Survival Guide for the New Lawyer: What They Didn’t Teach You in Law School. Most ABI books are also available as e-books for the iPad , Kindle and Nook . ®
®
B
R COME E
OR IN
Y O UR
AREA OF EXP E R TIS E
TLIGHT Y SPO O
U
NTS E L TA AN AUTH
®
Publishing with ABI Have a great idea for a new ABI title? Let us know! Contact ABI’s Director of Communications, Jim Carman, at jcarman@abi.org for information about publishing with ABI. You can also get involved by joining an ABI committee (committees.abi.org). Many of our most popular ABI books, such as Survival Guide for the New Lawyer and ABI’s Health Care Insolvency Manual, were created as committee projects.
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ABI’s Bookstore contains more than 50 books on all aspects of bankruptcy, and most of them are also available as e-books. Visit bookstore.abi.org to see ABI’s latest titles.
“DISCOVER ABI” Webinar
Chicago Consumer Bankruptcy Conference October 12 (tent.) • Chicago
Columbus Day
International Insolvency & Restructuring Symposium October 23 • Madrid, Spain
November Journal mails
November Journal online
Halloween
ABI/GULC “Views from the Bench” October TBA • Washington, D.C. ABI/UMKC Midwestern Bankruptcy Institute & Professional Development Workshop October TBA • Kansas City, Mo.
abcworld.org Board Certification The American Board of Certification (ABC) is the nation’s premier legal specialty certification
NOVEMBER 2015
The American Board of Certification has 26 judges who were first certified attorneys. ABC has more than 800 members in the U.S. and Puerto Rico.
SUNDAY
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Daylight Saving Time Ends
organization, certifying attorneys as specialists in business bankruptcy, consumer bankruptcy and creditors’ rights law. The ABC serves the public interest by allowing potential clients to make an informed decision in selecting bankruptcy and creditors’ rights counsel. ABC certification encourages attorneys to strive toward excellence and recognizes those attorneys who have met the ABC’s rigorous standards. The ABC is sponsored by ABI and the Commercial Law League of America (CLLA), and all three ABC certification programs are accredited by the American Bar Association and many states. ABC certification is available to all qualified attorneys, without regard to membership in ABI or CLLA. The ABC continues to see strong demand for certified specialists from the public. The
Election Day
Complex Financial Restructuring Program November 5 • TBA
“DISCOVER ABI” Webinar
Corporate Restructuring Competition November 6 • TBA
ABC Website, www.abcworld.org, is continuously being updated and improved, with the most recent changes designed to make it easier for attorneys to complete applications for certification (and recertification). We also have a new social media presence with LinkedIn and Twitter, so please follow us on Twitter @ABCworldorg.
2014 American Board of Certification Leadership Mac D. Finlayson, Chair Eller & Detrich, P.C. Tulsa, Okla.
Candace C. Carlyon, President Carlyon Law Group, PLLC Las Vegas
Detroit Consumer Bankruptcy Conference November 11 (tent.) • Detroit
Mid-Level Professional Development Program November 11 (tent.) Chicago Veterans
Day
Walter J. Greenhalgh, Treasurer Duane Morris LLP Newark, N.J.
Craig M. Geno, Secretary
Law Offices of Craig M. Geno, PLLC Ridgeland, Miss.
Michael P. Horan, President-Elect Trenam Kemker St. Petersburg, Fla.
2014 • 2015 Exam Schedule ABC Exams are held in conjunction with several ABI conferences. 2014-15 exam dates are as follows: Date
City
Event/Location
12/4/14
La Quinta, CA
ABI 26th Annual Winter Leadership Conference La Quinta Resort & Club
4/16/15
Washington, DC
ABI 33rd Annual Spring Meeting Renaissance Washington, DC Downtown
6/11/15
Traverse City, MI
ABI 22nd Annual Central States Bankruptcy Workshop Grand Traverse Resort & Spa
7/9/15
North Falmouth, MA
ABI 22nd Annual Northeast Bankruptcy Conference Sea Crest Beach Hotel
7/23/15
Amelia Island, FL
ABI 20th Annual Southeast Bankruptcy Workshop The Ritz-Carlton, Amelia Island
8/6/15
Hershey, PA
11th Annual Mid-Atlantic Bankruptcy Workshop The Hotel Hershey
9/10/15
Las Vegas, NV
ABI 23rd Annual Southwest Bankruptcy Conference Four Seasons Las Vegas
12/3/15
Phoenix, AZ
ABI 27th Annual Winter Leadership Conference Arizona Biltmore
Delaware Views from the Bench November 20 (tent.) • Wilmington, Del.
Thanksgiving
law.abi.org
Your Electronic Version of the Bankruptcy Code & Rules ABI’s personalized electronic Bankruptcy Code & Rules features bookmarking capabilities and case annotations, enabling members to more easily search for specific Code sections and any
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In 2014, ABI expanded its consumer practitioner offerings to more of its educational programs, often at a reduced fee. ABI also held a Student Debt Symposium in May to address the escalating student loan debt crisis.
Winter Leadership Conference December 3-5 • Phoenix
40-Hour Mediation Training Program December 6-10 (tent.) • New York
Hanukkah Begins at Sundown
“DISCOVER ABI” Webinar
related Rule provisions. ABI teamed up with LexisNexis® Matthew Bender® to also provide links to relevant cases.
bankruptcy resources.abi.org Optimized Consumer Focus To bolster business development opportunities and help consumers more easily access
First Day of Winter
Christmas
bankruptcy information, ABI revamped its Consumer website in 2014 to become the Bankruptcy Resources site. The new site has an enhanced capability to help debtors find information and legal assistance within ABI’s nationwide member directory.
January Journal online
New Year’s Eve New Year’s Day
Nearly $2 Million in Grants and Scholarships Has Been Awarded The ABI Anthony H.N. Schnelling Endowment Fund was created in 1989 to provide resources for research and education to the bankruptcy community. Your gift or pledge allows ABI to meet new requests for funding, which may include studies relating to bankruptcy or insolvency; surveys or other analytical investigation; the education of judges, court personnel, other governmental personnel and the general public; or scholarships and other educational grants. Current major and recently completed projects include support for the Commission to Study the Reform of Chapter 11, the Ethics Task Force and an empirical study of postBAPCPA distributions to unsecured creditors. New in 2014 is the Endowment’s Amazon Wish List (http://go.abi.org/giveauction), which features items that can be purchased for the silent auctions that the Endowment holds each year at several ABI conferences. Contributions may be paid in equal installments for up to five years. All gifts are cumulative to allow donors to advance their level of contribution. All contributions are tax-deductible. The ABI Endowment is a 501(c)(3) tax-exempt organization.
Anthony H.N. Schnelling Endowment Endowment Donors Honored at ABI Meetings
ENDOWMENTS & GRANTS Major Contributors Millennium Level Contributions of $50,000 and above
Visionary Members Contributions of $20,000 - $24,999
30th Anniversary Circle Contributions of $30,000 - $49,999
Legacy Members Contributions of $15,000 - $19,999
• Bayard, P.A. • Boleman Law Firm, PC • Conseco Liquidating Trust • Global Aviation Holdings, Inc. • Spiegel Creditor Liquidating Trust
• Robert N. Dangremond AlixPartners LLP • Ted Gavin Gavin/Solmonese LLC • Polsinelli James E. Bird, Daniel J. Flanigan and Christopher Ward • Robert P. Reynolds Reynolds, Reynolds & Little, LLC • John Tittle, Jr. Tittle Advisory Group, Inc.
Century Council Members Contributions of $25,000 - $29,999
• AlixPartners LLP Jay Alix • Scott L. Baena Bilzin Sumberg Baena Price & Axelrod, LLP • William A. Brandt, Jr. Development Specialists, Inc. • Bridge Associates LLC Anthony H. Schnelling and Carl H. Young, III • John Wm. Butler, Jr. Hilco Global • L. E. Creel, III Wright Ginsberg Brusilow P.C. • Harry D. Dixon, Jr. • GA Keen Realty Advisors Harold J. Bordwin and Matt Bordwin • National Auctioneers Association • Patricia A. Redmond Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA • Visa USA, Inc. • Bettina M. Whyte
• Hon. Lee M. Jackwig U.S. Bankruptcy Court • Francis A. Monaco, Jr. Womble Carlyle Sandridge & Rice, LLP • Prof. Robert M. Zinman
• Ballard Spahr LLP Tobey M. Daluz, Carl A. Eklund and Vincent J. Marriott III • Becket & Lee, LLP Alane A. Becket • Richard P. Carmody Adams and Reese LLP • The Hilco Organization Benjamin L. Nortman and Richard L. Kaye • Prof. Jack F. Williams Georgia State University/Mesirow Financial Consulting, LLC
New Lifetime Members Contributions of $10,000 - $14,999
• Lisa G. Beckerman Akin Gump Strauss Hauer & Feld LLP • C. R. (Chip) Bowles, Jr. Bingham Greenebaum Doll LLP • Robert J. Keach Bernstein Shur • Mark Stingley Bryan Cave LLP
New Benefactors Contributions of $5,000 - $9,999
• Geoffrey L. Berman Development Specialists, Inc. • Jamie L. Edmonson Venable LLP • Ryan G. Foley AIG Property Casualty Law Department • Prof. Nancy B. Rapoport William S. Boyd School of Law • K. Scott Van Meter Berkeley Research Group, LLC
New Sustaining Members Contributions of $2,000 - $4,999 • Jacob Aaron Esher MWI • Craig M. Geno Law Offices of Craig M. Geno, PLLC • Jeffrey W. Kelley Troutman Sanders LLP • Kostopoulos & Associates PLLC • Mary D. Lane Mitchell Silberberg & Knupp LLP • Sam Maizel Pachulski Stang Ziehl & Jones LLP • Mark M. Maloney King & Spalding LLP • Jeffrey N. Rich Rich Michaelson Magaliff Moser LLP • J. Ellsworth Summers, Jr. Rogers Towers, PA • Christopher A. Ward Polsinelli • Risa Lynn Wolf-Smith Hollard & Hart LLP
LEVELS OF SUPPORT Millennium Level 30th Anniversary Circle Century Council Member Visionary Member Legacy Member Lifetime Member* Benefactor Sustaining Member Leadership Club Donor
$50,000 + $30,000 - $49,999 $25,000 - $29,999 $20,000 - $24,999 $15,000 - $19,999 $10,000 - $14,999 $5,000 - $9,999 $2,000 - $4,999 $1,000 - $1,999 $100 - $999
* Lifetime members and above receive a complimentary annual membership upon completed payment of the pledge.
UNIQUE WAYS TO CONTRIBUTE John R. Bollinger (Boleman Law Firm, PC; Hampton, Va.), a Millennium Level donor; Alane A. Becket (Becket & Lee, LLP; Malvern, Pa.), a Legacy Member donor; Prof. Nancy B. Rapoport (UNLV William S. Boyd School of Law; Las Vegas), a Benefactor donor; and Jeffrey N. Rich (Rich Michaelson Magaliff Moser LLP; New York), a Sustaining Member donor (clockwise from top left), were recognized for their Endowment contributions during the 2014 Annual Spring Meeting.
taking insolvency research to new heights
NETWORKING EVENTS
AUTO DEBIT
AMAZON WISH LIST
DONATE REMNANT FUNDS
SILENT AUCTIONS
TRANSFER STOCKS
2014•2015 BOARD OF DIRECTORS* ABI Executive Committee Members
President Brian L. Shaw Shaw Fishman Glantz & Towbin LLC Chicago
Vice President-Development Edward T. Gavin Gavin/Solmonese LLC Wilmington, Del.
Vice President-International Affairs Ronald J. Silverman Bingham McCutchen LLP New York
Secretary Rudy J. Cerone McGlinchey Stafford, PLLC New Orleans
President-Elect James Patrick Shea Armstrong Teasdale LLP Las Vegas
Vice President-Education Jeffrey N. Pomerantz Pachulski Stang Ziehl & Jones LLP Los Angeles
Vice President-Communication & Information Technology Deborah L. Thorne Barnes & Thornburg LLP; Chicago
Treasurer John Tittle, Jr. Tittle Advisory Group, Inc. New York
Vice President-Publications Alane A. Becket Becket & Lee, LLP Malvern, Pa.
Vice President-Research Grants Prof. Nancy B. Rapoport William S. Boyd School of Law, UNLV Las Vegas
Vice President-Membership R. Scott Williams Rumberger, Kirk & Caldwell, P.A. Birmingham, Ala.
At-Large Members
Douglas E. Deutsch Chadbourne & Parke LLP New York
Hon. Dennis R. Dow U.S. Bankruptcy Court (W.D. Mo.) Kansas City
Hon. Barbara J. Houser U.S. Bankruptcy Court (N.D. Tex.) Dallas
Nancy A. Peterman Greenberg Traurig, LLP Chicago
ABI Board Members
Deborah A. Crabbe Foster Pepper PLLC Seattle
Hon. Bruce A. Harwood U.S. Bankruptcy Court (D. N.H.) Manchester
Richard M. Meth Fox Rothschild LLP Roseland, N.J.
Glenn E. Siegel Morgan, Lewis & Bockius LLP New York
Hon. Mary Grace Diehl U.S. Bankruptcy Court (N.D. Ga.) Atlanta
Prof. Margaret Howard Washington & Lee Law School Lexington, Va.
Francis A. Monaco, Jr. Womble Carlyle Sandridge & Rice, LLP Wilmington, Del.
Mark G. Stingley Bryan Cave LLP Kansas City, Mo.
Daniel F. Dooley MorrisAnderson Chicago
Hon. Laurel Myerson Isicoff U.S. Bankruptcy Court (S.D. Fla.) Miami
Thomas A. Morrow AlixPartners LLP Southfield, Mich.
Annerose Tashiro Schultze & Braun GmbH & Co. KG Achern, Germany
Michael A. Fagone Bernstein Shur Portland, Maine
David R. Kuney Sidley Austin LLP Washington, D.C.
Hon. C. Ray Mullins U.S. Bankruptcy Court (N.D. Ga.) Atlanta
Ralph S. Tuliano Mesirow Financial Consulting, LLC New York
Tinamarie Feil BMC Group New York
Dennis J. LeVine Dennis LeVine & Associates, PA Tampa, Fla.
Nina M. Parker Parker & Associates Winchester, Mass.
J. Scott Victor SSG Capital Advisors, LLC Conshohocken, Pa.
Scott F. Gautier Robins, Kaplan, Miller & Ciresi LLP Los Angeles
Prof. Lois R. Lupica University of Maine School of Law Portland, Maine
Hon. Pamela Pepper U.S. Bankruptcy Court (E.D. Wis.) Milwaukee
Lynnette R. Warman Culhane Meadows PLLC Dallas
Hon. Robert E. Gerber U.S. Bankruptcy Court (S.D.N.Y.) New York
Douglas L. Lutz Frost Brown Todd LLC Cincinnati
Robert P. Reynolds Reynolds, Reynolds & Little, LLC Tuscaloosa, Ala.
Hon. Eugene R. Wedoff U.S. Bankruptcy Court (N.D. Ill.) Chicago
Jay M. Goffman Skadden, Arps, Slate, Meagher & Flom LLP New York
Mark M. Maloney King & Spalding LLP Atlanta
Mitchell Ryan Donlin, Recano & Company, Inc. Orange, Calif.
Ian G. Williams SGH Martineau LLP London
Lisa Sommers Gretchko Howard & Howard Attorneys, PLLC Royal Oak, Mich.
Lorenzo Mendizabal Epiq Systems, Inc. New York
Damian S. Schaible Davis Polk & Wardwell LLP New York
*Through April 2015.
Chairman James T. Markus Markus Williams Young & Zimmermann LLC Denver Immediate Past President Patricia A. Redmond Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA; Miami
Derek C. Abbott Morris, Nichols, Arsht & Tunnell, LLP Wilmington, Del. Corinne Ball Jones Day New York Martin R. Barash Klee, Tuchin, Bogdanoff & Stern LLP Los Angeles Lisa G. Beckerman Akin Gump Strauss Hauer & Feld LLP New York Lorie R. Beers Variant Capital Advisors, LLC New York Michael L. Bernstein Arnold & Porter LLP Washington, D.C. Hon. Kevin J. Carey U.S. Bankruptcy Court (D. Del.) Wilmington Kathryn Coleman Hughes Hubbard & Reed LLP New York
ABI STAFF
n EXECUTIVE n ACCOUNTING
n ADMINISTRATION n COMMUNICATIONS
n CARE n IMT
Samuel J. Gerdano, Executive Director
Adam Ziegler, Staff Accountant
Patrick McGrath, Senior Print Designer
Satish Kodali, Software Engineer
Amy A. Quackenboss, Deputy Executive Director and General Counsel
Mary T. Kleppinger, Director of Administration
Elizabeth Stoltz, Managing Editor
Matthew Lukban, Media Operations Manager
n MEMBERSHIP n MEETINGS
Jennifer Dugas, Conference Director
Elizabeth Carden, Meeting Planner
Leah Weston, Office Manager
Kayla Vanderlyn, Publications Specialist
Jeff Schnarel, Senior Web Application Developer
Ed Flynn, Consultant
Allyson Donohue, Meeting Planner
Marie White, Staff Assistant
John Good, CARE Director
Christopher Thackston, Director of Membership
Kathy Sheehan, Chief Financial Officer
Jennifer Guirguis, Meeting Planner
James Carman, Director of Communications
Karim Guirguis, Chief Information Officer
Gayna Boettcher, Membership Specialist Jannine Henderson, Continuing Education Manager
Mike Johnson, Staff Accountant
Carolyn Derder, Senior Editor
Chase Armand, Network Engineer
Martha Cannon, Membership Program Manager Tara Kennedy, Meeting Planner
Patty Sadusky, Accounting Manager
John Hartgen, Public Affairs Manager
Sirish Ayyagari, Drupal Architect
Sue Kim, Engagement Manager Sharisa Sloan, Event Marketing Specialist
Chloe Somers, Senior Staff Accountant
2013 SEPTEMBER 28, 2014
AMERICAN BANKRUPTCY INSTITUTE STATEMENT OF FINANCIAL POSITION
any expenditures of the principal of the Endowment Fund will continue to require a two-thirds majority
ASSETS December 31, 2013 December 31, 2012 Cash and cash equivalents $599,122 $165,448 Investments 11,885,726 11,606,440 Accounts receivable, net 143,486 134,039 Prepaid and other assets 433,430 446,792 Pledges receivable, net 80,605 115,472 Property and equipment, net 400,113 152,089 Deposits and other 109,372 75,800 TOTAL ASSETS $13,651,854 $12,696,080 LIABILITIES AND NET ASSETS LIABILITIES: Accounts payable and accrued expenses $1,396,716 $912,383 Deferred revenue 2,770,042 2,681,797 Total Liabilities 4,166,758 3,594,180 NET ASSETS: Unrestricted Undesignated 5,394,811 5,314,177 Board designated endowment 3,735,552 3,314,309 9,130,363 8,628,486 *Temporarily restricted 354,733 473,414 Total net assets 9,485,096 9,101,900 TOTAL LIABILITIES AND NET ASSETS $13,651,854 $12,696,080
vote by the Board of Directors under the ABI bylaws.
*Includes $234,608 (2013) and $307,822 (2012) in funds designated for the CARE Program.
The Audit Subcommittee has selected CLA as auditors as of and for the year ending December 31,
$10 M
2014. In the four years that the accounting firm has served as the auditor for ABI, the organizations
$9 M $8 M $7 M $6 M $5 M $4 M $3 M $2 M $1 M $0
Dear ABI Members:
The American Bankruptcy Institute experienced an increase in its net assets during 2013 of approximately $400,000. Net assets rose from around $9.1 to nearly $9.5 million. Continuing its tradition of being a well-run and efficient organization, ABI held cash and investments of $12.5 million as of December 2013 – an increase of around $700,000 over 2012. In the annual audit of ABI by CliftonLarsonAllen LLP (CLA), an audit firm specializing in nonprofit organizations, ABI was issued an unqualified “clean report” in conformity with generally accepted accounting principles. The auditors found no matters involving internal controls and operations that were considered to be material weaknesses. Additionally, members of the CLA audit team commented that the financial position of ABI was very healthy and that its assets were very liquid, primarily being cash and cash equivalents. Even the auditors noted the efficiency and cost-effectiveness of ABI as measured by certain relevant operational and financial metrics in the realm of nonprofit organizations. As part of its prudent management and stewardship of investment dollars and other operating sums, ABI maintains three funds, General Operating Funds, General Reserve Funds and the ABI Endowment Fund, and establishes and adheres to prudent guidelines for the reserve levels of the two General Funds. These guidelines are based on industry standards and recommendations from outside financial advisors. The ABI Endowment Fund will continue to be kept in a segregated account, and
have worked together as collaboratively as possible. In selecting CLA as auditor for a fifth consecutive year, ABI has every reason to expect these very positive circumstances and conditions to continue for the audit of the 2014 financials.
Respectfully submitted, John Tittle, Jr. Treasurer
J. Scott Victor Audit Committee Chair
partners.abi.org Presidential Partners
$9,485,096 $7,459,100
Growth in Net Assets
$5,482,813 $2,618,846
$169,301
$970,749
5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3 199 199 199 199 199 200 200 200 200 200 200 200 200 200 200 201 201 201 201
AMERICAN BANKRUPTCY INSTITUTE 2014 PARTNERS
Executive Partners
ABI’s Partners provide vital support for programs throughout the year. Partners receive year-round recognition at many conferences, events and online. Partner Packages are customized to fit the marketing needs of our Partners. Contact Sharisa Sloan of the staff for information on how you can partner with ABI.
Capital Partners
mediakit.abi.org
MARKET YOUR FIRM WITH THE LEADERS OF THE INSOLVENCY COMMUNITY
PARTNER WITH ABI EVENTS
ABI JOURNAL
PARTNERSHIP
SPONSORSHIPS
ABI.ORG
AND SEE THE RETURN Anthony H.N. Schnelling
Nearly $2 million in grants and scholarships has been awarded The ABI Anthony H.N. Schnelling Endowment Fund was created in 1989 to provide resources for research and education to the bankruptcy community. Your gift or pledge allows ABI to meet new requests for funding, which may include studies relating to
Levels of Support Millennium Level 30th Anniversary Circle Century Council Member Visionary Member Legacy Member Lifetime Member* Benefactor Sustaining Member Leadership Club Donor
$50,000 + $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $2,000 $1,000 $100
bankruptcy or insolvency; surveys or other analytical investigation; the education of judges, court personnel, other governmental
- - - - - - - - -
$49,999 $29,999 $24,999 $19,999 $14,999 $9,999 $4,999 $1,999 $999
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* Lifetime members and above receive a complimentary annual membership upon completed payment of the pledge.
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2O14•2O15
AMERICAN BANKRUPTCY INSTITUTE MEETING & EVENT SCHEDULE
2O14
2O15
Complex Financial Restructuring Program Wharton School of Business
New Orleans Consumer Bankruptcy Conference Tulane University
November
November 6 • Philadelphia
Corporate Restructuring Competition Wharton School of Business
November 6-7 • Philadelphia
Chicago Consumer Bankruptcy Conference University of Chicago Gleacher Center
November 11 • Chicago
Detroit Consumer Bankruptcy Conference Somerset Inn
November 11 • Troy, Mich.
Mid-Level Professional Development Program Jenner & Block Conference Center
November 12 • Chicago
December
Winter Leadership Conference La Quinta Resort & Club
December 4-6 • La Quinta, Calif. 40-Hour Mediation Training Program St. John’s University’s Manhattan Campus
December 7-11 • New York
January
January 19 • New Orleans
Rocky Mountain Bankruptcy Conference Four Seasons Hotel Denver
January 22-23 • Denver
February
Caribbean Insolvency Symposium Westin Grand Cayman
February 5-7 • Grand Cayman VALCON Four Seasons Las Vegas
February 25-27• Las Vegas
March
ABI/Stetson Alexander L. Paskay Memorial Bankruptcy Seminar Hilton Tampa Downtown
March 5-7 • Tampa, Fla.
Conrad Duberstein Moot Court Competition Duberstein U.S. Courthouse
March 7-9 • New York
Byrne Judicial Clerkship Institute Pepperdine University School of Law
March 12-13 • Malibu, Calif. Bankruptcy Battleground West Hyatt Regency Century Plaza
March 24 • Los Angeles
May
August
May 7-8 • Uncasville, Conn.
August 6-8 • Hershey, Pa.
8th Annual Credit & Bankruptcy Symposium Mohegan Sun New York City Bankruptcy Conference New York Hilton
May 14 • New York
Litigation Skills Symposium Chicago - Kent School of Law
May 19-22 • Chicago
June
Memphis Consumer Bankruptcy Conference
June TBA • Memphis, Tenn.
Central States Bankruptcy Workshop Grand Traverse Resort
June 11-14 • Traverse City, Mich. Cross-Border Insolvency Program Association of the Bar of the City of New York
June 18 • New York
July China International Insolvency Symposium
July 6-7• Beijing, China
Northeast Bankruptcy Conference Sea Crest Beach Hotel
July 9-12 • North Falmouth, Mass. Southeast Bankruptcy Workshop The Ritz-Carlton, Amelia Island
July 23-26 • Amelia Island, Fla.
Mid-Atlantic Bankruptcy Workshop Hotel Hershey
September
Southwest Bankruptcy Conference Four Seasons Las Vegas
September 10-12 • Las Vegas
ABI/NYIC Golf and Tennis Fundraiser
September TBA • TBA
ABI/NYU Bankruptcy & Business Reorganization Workshop
September TBA • New York
NCBJ/ABI Educational Program Fontainebleau Miami Beach
September 29 • Miami
October
Chicago Consumer Bankruptcy Conference
November
Complex Financial Restructuring Program
November 5 (tent.) • TBA
Corporate Restructuring Competition
November 6 (tent.) • TBA
Detroit Consumer Bankruptcy Conference
November 11 (tent.) • Detroit
Mid-Level Professional Development Program
November 11 (tent.) • Chicago Delaware Views from the Bench Hotel du Pont
November 20 (tent.) • Wilmington, Del.
December
Winter Leadership Conference Arizona Biltmore Resort and Spa
December 3-5 • Phoenix
40-Hour Mediation Training Program St. John’s University’s Manhattan Campus
December 6-10 (tent.) • New York
October 12 (tent.) • Chicago International Insolvency & Restructuring Symposium Hotel Ritz Madrid
October 23 • Madrid, Spain ABI/GULC “Views from the Bench”
October TBA • Washington, D.C. ABI/UMKC Midwestern Bankruptcy Institute & Professional Development Workshop
October TBA • Kansas City, Mo.
April
Annual Spring Meeting Renaissance Washington, DC Downtown
April 16-19 • Washington, D.C.
DATES AND LOCATIONS SUBJECT TO CHANGE