Visit our website | Click here to view online
Contact the Newsletter Editor

Vol 13, Num 4 l October 2015

Young and New Members

► In This Issue:

Understanding the Role of a Receiver

ABI

Steve Spinell
Kinzie Real Estate Group
Chicago

By definition, a receiver is appointed by a court to take control of and manage a distressed asset, and is often given full authority to decide how best to operate the property until bankruptcy proceedings are complete. The main goal is to recoup as much of the value owed as possible by collecting rents, leasing vacant space, making capital improvements and possibly remarketing the property.

While falling into financial hardship is certainly not an enviable position for a borrower, having a property go into receivership can often be a win/win for both the borrower and lender. By utilizing a receiver, lenders and/or borrowers have the ability to maximize property values, thus minimizing both parties’ losses.
» Read More

The Importance of Deal-Making Skills

ABI

Kenneth A. Rosen
Lowenstein Sandler LLP
New York

Business school candidates are often required to demonstrate a work history as a part of their admission process. According to some schools, a work history demonstrates potential career success. For others, a work history ensures that incoming students have a context for interpreting classroom material and an ability to contribute to class discussions. For most, a candidate’s work history demonstrates his/her leadership potential.

Law schools, however, do not employ this method. Law schools value demonstrated and potential cognitive abilities in their students because the “job” of a law school student is to process information. Law school students, read, write and, occasionally, regurgitate.
» Read More

Bankruptcy Trustees Have New Tool for Raising Cash

ABI

Steven Renbaum
Loanzy
New York

The central goal of a bankruptcy trustee is often to pay claims and creditors, a process that includes liquidating assets to convert valued items and properties to cash. Within this principle there has always been a concern that the assets being sold are being surrendered for “cents on the dollar,” or are bringing in far less than it is acknowledged that the asset is worth.

Going hand-in-hand with all of this are the business tools needed to execute a bankruptcy. This sector continues to see new products and innovation from service providers, much of it enabled by Internet/web technology. There’s an emerging business model in lending and financing that trustees should know about.
» Read More

Free Webinar Just Announced: Pending Changes in the Bankruptcy Forms

Cost: FREE
Date: November 16
Time: 1 - 2:15 pm ET
Hosted by: Consumer
Bankruptcy Committee

ABI

Hosted by the Consumer Bankruptcy Committee, this new webinar will focus on discussing the upcoming changes to the bankruptcy forms. These new forms are part of a forms modernization project that was begun by the Advisory Committee on Bankruptcy Rules in 2008.  Among other things, the new forms introduce different versions of case opening forms for individual debtors and non-individual debtors. The new forms are easier for debtors to understand and complete and are designed to work with scheduled enhancements to the federal courts’ case opening and electronic case management system.

Speakers include three members of the advisory committee tasked with updating the forms, and a forms expert from StratusPro, the webinar's sponsor: Prof. Elizabeth Gibson (University of North Carolina School of Law; Chapel Hill, NC); Hon. Arthur I. Harris (U.S. Bankruptcy Court; Cleveland, OH); Sam Mass (Stratus Intelligence; Chicago, IL) and Scott Myers (Administrative Office of the U.S. Courts; Washington, D.C.).

Register today!

Complex Financial Restructuring Program

 

Winter Leadership Conference Dec. 3-5, 2015

66 Canal Center Plaza, Suite 600, Alexandria, VA 22314
www.abi.org | support@abiworld.org
Tel. (703)-739-0800
Follow ABI on Twitter Follow ABI on Facebook Follow ABI on Linkedin

Copyright © 2015 American Bankruptcy Institute.