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ABI Commission Releases Final Report
On Ch. 11 Reform; Invites ‘Spirited Debate’

Dec. 9, 2014, 5:00 AM

The American Bankruptcy Institute’s commission to study the reform of Chapter 11 Dec. 8 released its final report containing more than 240 recommendations for modernizing the Bankruptcy Code for Chapter 11 business reorganizations.

The 402-page report is the culmination of three years of work by 23 prominent insolvency professionals who served as commissioners and conducted 17 public field hearings around the country to gather testimony and examine key problems in Chapter 11 reorganizations. The commission, which unanimously voted to accept the report Dec. 1, began its overhaul of the Bankruptcy Code April 19, 2012.

The commission’s conclusion states that it ...