Contact:
Hartgen
(703) 739-0800
href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org
CORPORATE
BANKRUPTICES WILL INCREASE IN 2007, SAY MEMBERS IN LATEST ABI
POLL
size='3'>August 8, 2006, Alexandria, Va.
size='3'>— The majority of respondents (67 percent) to a recent
American Bankruptcy Institute online poll agreed that despite a recent
sharp drop in public company filings, corporate bankruptcies will be up
in 2007 due to a shakeup of many highly leveraged transactions over the
last several years. Forty percent “agreed somewhat,” while
an additional 27 percent of respondents “agreed strongly”
that corporate bankruptcies would climb in 2007 despite a drop-off that
brought public company filings last year to levels not seen since 1996.
There were 86 public company filings in 2005, down from a high of 263 in
2001.
Conversely, 19 percent of
respondents disagreed that corporate bankruptcies would rise again in
2007. Eleven percent “strongly disagreed,” while 8 percent
“disagreed somewhat.” Fourteen percent of the respondents
did not know or had no opinion on the issue.
ABI membership and members of
the public were welcome to submit their response to the statement:
“Public company filings dropped last year to levels not seen
since 1996. But corporate bankruptcies will be up in 2007 due to a
shakeup of many highly leveraged transactions over the last several
years.” The latest ABI Quick Poll was open to the public
for voting from July 28 – August 3.
ABI’s weekly Quick Poll
is posted on ABI’s home page,
href='/AM/Template.cfm?Section=Home'>
color='#800080' size='3'>www.abiworld.org. ABI members and the public are invited to respond
to a question on a timely bankruptcy or insolvency issue. Visit
size='3'>http://www.abiworld.net/quickpoll/ to access the results of previous ABI Quick
Polls.
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ABI is the largest
multi-disciplinary, nonpartisan organization dedicated to research and
education on matters related to insolvency. ABI was founded in 1982 to
provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes more than 11,500 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org. For additional conference information,
visit
face='Times New Roman' color='#0000ff'
size='3'>http://www.abiworld.org/conferences.html
face='Times New Roman' size='3'>.