Contact:
w:st='on'>John Hartgen
(703) 739-0800
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ABI POLL:
COMPANIES OPERATING UNDER CHAPTER 11 PROTECTION ENJOY AN UNFAIR
COMPETITIVE ADVANTAGE
April 28, 2006, Alexandria,
Va. — A majority of overall respondents (57 percent) to
the most recent American Bankruptcy Institute (ABI) online poll agreed
that companies operating under chapter 11 protection enjoy an unfair
competitive advantage. The largest category of respondents, 31 percent,
weighed in that they “somewhat agreed” that companies had an
unfair advantage while operating under chapter 11 protection, while 26
percent “strongly agreed.”
Only 35 percent of the
respondents did not agree that companies operating under chapter 11
protection had an unfair competitive advantage. Of the 35 percent, 19
percent “somewhat disagreed” that companies in chapter 11
had an unfair advantage, while 16 percent “disagreed
strongly.” Eight percent of respondents did not have an opinion or
did not know enough about the issue.
ABI membership and members of
the public were welcome to submit their response to the statement
“Companies operating under chapter 11 protection enjoy an
unfair competitive advantage” for the recent poll that was
open for voting from April 13 – April 27. The poll question is
based on the recent high-profile bankruptcies of companies operating in
highly competitive industries as the automotive, airline and steel
industries.
The ABI 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
title='http://www.abiworld.net/quickpoll/'
href='http://www.abiworld.net/quickpoll/'>
color='#800080' size='3'>http://www.abiworld.net/quickpoll/
to access the results of previous ABI’s Quick Poll.
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provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes more than 11,000 attorneys,
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specialists and other bankruptcy professionals providing a forum for the
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