Contact:
Hartgen
(703) 739-0800
color='#0000ff'>jhartgen@abiworld.org
RECENT ABI
POLL SHOWS NARROW MAJORITY AGREE TO ALLOWING CHAPTER 11 DEBTORS TO GRANT
ATTORNEYS A SECURED INTEREST IN THEIR CASH ASSETS WITHIN RETENTION
AGREEMENTS
size='3'>June 16, 2006, Alexandria, Va.
size='3'>— Fifty-one percent of respondents to the recent American
Bankruptcy Institute online poll agreed that chapter 11 debtors should
be permitted to grant attorneys a security interest in their cash assets
as a part of the retention agreement. Of those, 36 percent
“strongly agreed” that debtors should be allowed to grant
attorneys a security interest in their cash assets as a part of the
retention agreement, while 15 percent “somewhat
agreed.”
Conversely, 39 percent of
respondents “disagreed strongly” and another 6 percent
“somewhat disagreed” with allowing debtors to grant
attorneys a security interest in their cash assets as apart of their
retention agreement. Four 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:
“Chapter 11 debtors should be permitted to grant attorneys a
security interest in their cash assets as a part of the retention
agreement.” More than 100 people participated in this
latest ABI Quick Poll, which was open for voting from June 8 –
June 15.
The ABI Quick Poll is posted on
ABI’s home page,
face='Times New Roman' color='#800080'
size='3'>www.abiworld.org
size='3'>. ABI members and the public are invited to respond to a
question on a timely bankruptcy or insolvency issue. Visit
href='http://www.abiworld.net/quickpoll/'>
color='#0000ff' 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'>.