Legislation

Take a look forward as this panel predicts where the Code will be in the next 40 years. Will venue be mandated or constricted? How will student loans be handled? What technologies will be in the courtrooms of the future? Does current case law foreshadow what is to come? How will the international insolvency landscape change? Will there even be a need for bankruptcy?

The panelists will discuss the findings of the ABI Commission on Consumer Bankruptcy, focusing on three areas of great interest to the Commission: (1) student loans; (2) how attorneys get paid; and (3) a “reserve fund” for chapter 13s so that debtors can save for unexpected emergency expenses.

Hosted by the Consumer Bankruptcy and Legislation Committees A fresh start is now becoming less attainable for many debtors because the traditional "all-up-front" attorney fee approach discourages filing for chapter 7. Some attorneys are solving this problem by splitting pre-petition and post-petition services into separate agreements to allow post-petition payments for post-petition work. The panel will discuss the practical need for this type of fee arrangement, the nuts and bolts of this payment arrangement, the pros and cons of such a system, where it is and where it is not allowed under existing law, a discussion of the current case law concerning such a system, and various policy considerations under review by ABI's Consumer Bankruptcy Commission.

Hosted by the Legislation and Commercial Fraud Committees.

ABI’s Consumer Commission is charged with researching and recommending improvements to the consumer bankruptcy system that can be implemented within its existing structure. Join us for the first of two commission hearings at the WLC to solicit what such changes might include, from amendments to the Bankruptcy Code and Federal Rules of Bankruptcy Procedure, to administrative rules or actions, to recommendations on proper interpretations of existing law, and other best practices that judges, trustees and lawyers can implement. The hearings will be on matters common to both chapters 7 and 13.

With President Trump in the White House and Republicans in control of both chambers of Congress, dramatic shifts may be coming to the insolvency industry. In this presentation, we will examine the potential impact of executive orders, legislative action, and other policy developments – including tax reform – that could affect insolvency practitioners.

This panel will survey how districts around the region are addressing the implementation of the National Form Plan and/or the adoption of an Opt-Out Plan, and will discuss procedures for approving the opt-out plan, new rules, potential challenges and software issues.

The Final Report of the Commission to Study the Reform of Chapter 11 is the culmination of nearly three years of testimony, advisory reports and deliberations. This panel, consisting of several members of the Commission, will present key findings as submitted to Congress.