Inside ABI January 2025

As you can see by the cover of this month’s Journal, ABI has announced its eighth “40 Under 40” class. They were honored at the Winter Leadership Conference last month in Arizona with high production and a lot of standing ovations! Their impressive profiles are featured starting on p. 12, so be sure to check them out.

As I have talked about ad nauseum this year, these honorees are the future of ABI. We have already seen 20 former honorees rise to serve on ABI’s Board of Directors, one-third of our directorship. We have seen many others speaking at events or in webinars, become emerging member committee leaders, or serve as mentors to our young and new members. It is a pleasure to watch each “40 Under 40” class grow into ABI leaders!

However, there were plenty of restructuring professionals who were on the cusp of recognition, but for one reason or another, were not selected to a “40 Under 40” class. Let us not forget that each year there are hundreds of applicants for these 40 spots. ABI tracks these members, and they being are approached to become more involved in ABI through member committees, writing opportunities, speaking engagements and other focus groups. They will help our organization have a strong base of young talent that will fill in for our older members who dedicated so much of their time and energy to ABI, but have decided to move on. So, please do not be discouraged if you were not selected for this class, or any past class, as your commitment to ABI is truly appreciated — and this is especially important at a time like this.

After the rebound from The Great Recession, times became quite grim for the restructuring industry. Bankruptcy and insolvency work slowed as markets boomed and the economy prospered. Professionals that have practiced in the restructuring industry for their entire careers realize that this is a countercyclical practice. There will be times when the restructuring tool belt is emptier than others, but it always rebounds, and there is always a market correction that fills those holes in the bankruptcy professionals’ tool belt.

The problem for organizations like ABI — and for bankruptcy and restructuring practices across the nation — is that when times are slow, firms are not hiring as many young restructuring professionals. This leads to an experience (and membership) gap in the restructuring industry. As a result, when the inevitable cycle comes back around, there is a distinct void of trained attorneys, financial advisors, investment bankers, workout professionals, law clerks and students who have dealt with a distressed economy and the legal and financial issues that it presents to our clients. This also means that there are not as many new members to restructuring organizations during these times. The same way that the bankruptcy practice is countercyclical, so is membership and participation in related organizations during these times.

This is why it is imperative that we are always recruiting and training new members. For example, during the COVID-19 pandemic, economic times were quite good. There were varied government programs to assist both businesses and consumers to make it through that unprecedented time. However, when these programs were out of favor after the pandemic, businesses and consumers were confronted with severe liquidity issues. Given the three-plus years of a bullish economy, there were not as many workout professionals familiar with a borrower that could no longer service its debt or had made the business decision to wind down its business.

Concurrently, professional firms were hiring less professionals in general, let alone law and financial professionals that focused on bankruptcy and insolvency issues. The restructuring industry came out of the pandemic with a headache. It quickly reacted and hired trained professionals, and retrained those who were now “healthy M&A advisors,” but it demonstrated the ever-present issue that we face as an industry and organization: We typically thrive when other industries are struggling, so we cannot let our guard down when our pace of practice slows.

We always need to be ready to react to a turn in the economy, and having younger members that are dedicated to the profession and are training in distressed situations — even when the overall economy is not distressed — is the cornerstone to the longevity of not only the restructuring industry, but also ABI. Having these “40 Under 40” honorees ensures that we are all in good hands going forward, as they will mentor and train the next generation of “40 Under 40” honorees.

I am excited for our future. I have practiced long enough that I have survived some prosperous times — and some really dire times — but have always remained committed to the core of our organization: educational and networking resources for bankruptcy, insolvency and restructuring professionals. Godspeed to all of our “40 Under 40” honorees, those who just missed the lists, and all of our young and new members for their dedication to the restructuring industry. Because of you, our future is bright.

For more information on ABI’s Young and New Member Committee, please reach out to the co-chairs, Bodie B. Colwell of Preti Flaherty, LLP (Portland, Maine) and Christina M. Sanfelippo of Cozen O’Connor (Chicago), and be sure get involved by visiting abi.org/membership/committees/young-and-new-members.

Chris Ward is chair of Polsinelli’s Bankruptcy and Restructuring Practice and managing partner of the firm’s Wilmington, Del., office. He previously served as ABI’s Vice President-Development.

Four attorneys with Sequor Law, PA in Miami have been recognized by Super Lawyers for 2024. Leyza Florin Blanco, who was also named one of Florida’s Top 100 Super Lawyers, has been an ABI member since 2001. Gregory S. Grossman has been an ABI member since 2022. Fernando J. Menendez has been an ABI member since 2012. Nyana Abreu Miller has been an ABI member since 2019.

Jennifer J. West of Spotts Fain PC (Richmond, Va.) has been honored as a 2024 Virginia Business Women in Leadership recipient. She has been an ABI member since 2001.

Tirzah Roussell of Dentons Davis Brown (Des Moines, Iowa) has been selected to participate in the National Conference of Bankruptcy Judges’ Next Generation Program. She has been an ABI member since 2022 and is Membership Relations Director of ABI’s Young and New Members Committee.

Stretto announced that it has acquired Chapter 11 Dockets, a research database and system designed by corporate restructuring attorneys for corporate restructuring attorneys. ABI members with Stretto include George M. Basharis, Dave Beltran, Melinda Bennett, Jonathan A. Carson, Michael A. Cohen, Anthony Facciano, Denise Kaloudis, Nicholas R. Kennedy, Eric S. Kurtzman, James M. Le, Daniel C. McElhinney, J.W. Song, Brian J. Soper, Angela W. Tsai, Christopher J. Updike, Travis K. Vandell, George Vogl, David S. Watkins, Morgan R. Wisbey and Todd Wuertz.

Luis Salazar of Salazar Law (Miami) has been recognized in the 2024 edition of Florida Super Lawyers. He has been an ABI member since 2020.

Adam G. Brief has been appointed by Attorney General Merrick B. Garland as the Acting U.S. Trustee for Northern Illinois and Wisconsin (Region 11). He has been an ABI member since 2016.

Candice L. Kline of Saul Ewing LLP has been appointed as an assistant professor at the University of Toledo College of Law, teaching bankruptcy and commercial law subjects. She will continue as part-time counsel at Saul Ewing and has been an ABI member since 2017.

Three attorneys with Wolfson Bolton Kochis PLLC in Troy, Mich., have been recognized in The Best Lawyers in America for 2024 and 2025. Scott A. Wolfson has been an ABI member since 2004. Anthony J. Kochis has been an ABI member since 2009 and is an advisory board member of ABI’s Central States Bankruptcy Workshop. Michelle H. Bass has been an ABI member since 2017.

Robert Cooper of South Jersey Legal Services (Camden, N.J.) has been presented with the Hugh Leonard Award from the New Jersey Bankruptcy Lawyers Foundation and the Association of the Federal Bar of New Jersey. He has been an ABI member since 2021.

Todd C. Meyers has joined Eversheds Sutherland’s U.S. Finance Practice Group in Atlanta as a partner and co-head of the firm’s U.S. Restructuring and Insolvency Team. He has been an ABI member since 2003.

Jill D. Parsons has been appointed as the Assistant U.S. Trustee for the Kansas City, Mo., office in the Western District of Missouri (Region 13). She previously had served as a chapter 7 panel trustee since 2009 and has been an ABI member since 2006.

Four law partners with Christian & Small, LLP in Birmingham, Ala., have been recognized in the 2024 edition of Chambers USA. Bill D. Bensinger has been an ABI member since 2012. Bradley R. Hightower has been an ABI member since 2007. Thomas B. Humphries has been an ABI member since 2011. Daniel D. Sparks has been an ABI member since 1999.

Ellen E. Ostrow of Foley & Lardner LLP (Salt Lake City) has been named to Utah Business’s 2024 Legal Elite. She has been an ABI member since 2012.

Lynn Hamilton Butler of Husch Blackwell LLP (Austin, Texas) has been named among Austin Monthly’s Austin’s Top Attorneys for 2024. He has been an ABI member since 2000.

Kelly Moynihan has joined Lowenstein Sandler LLP’s Bankruptcy and Restructuring Department in New York as counsel. She has been an ABI member since 2018.

Cory D. Kandestin of Richards, Layton & Finger, PA (Wilmington, Del.) has been elected director. He has been an ABI member since 2009.

Natasha Songonuga has joined Archer & Greiner PC’s Bankruptcy Group in Wilmington, Del., as a partner. She has been an ABI member since 2020.

Gerrick M. Warrington of Frandzel Robins Bloom & Csato, LC (Los Angeles) has been recognized in the 2024 Lawdragon 500 X – The Next Generation guide. He has been an ABI member since 2023.

Annette W. Jarvis of Greenberg Traurig, LLP (Salt Lake City) has been recognized in Utah Business’s 2024 edition of Legal Elite. She has been an ABI member since 2002.

Christopher J. Hopkins of Paul, Weiss, Rifkind, Wharton & Garrison LLP (New York) has been recognized by Law360 as a 2024 Rising Star. He has been an ABI member since 2023.

Michael Neumeister has joined Cooley LLP’s Business Restructuring Practice and Global Litigation Department in Los Angeles as a partner. He has been an ABI member since 2013.

William J. Perlstein has been appointed global segment leader of FTI Consulting, Inc.’s Forensic and Litigation Consulting Segment. Based in Washington, D.C., he has been an ABI member since 1998 and is a past member of ABI’s Board of Directors.

Ann C. Huynh of Getzler Henrich/Hilco Global (Houston) has been appointed co-managing director. She has been an ABI member since 2021.

Stephen P. Leara has joined Spain & Gillon, LLC’s Bankruptcy, Restructuring and Creditors’ Rights Group in Birmingham, Ala. He has been an ABI member since 1994.

Steve Golden of Pachulski Stang Ziehl & Jones LLP (New York) has been named a winner of The M&A Advisor’s 15th Annual Emerging Leaders Awards. He has been an ABI member since 2013.

Jane Harris Downey of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC (Columbia, S.C.) has been named Best Bankruptcy Attorney in the Lexington County Chronicle’s Lexington’s Best 2024. She has been an ABI member since 1992.

Lisa M. Kresge of Brennan Scungio & Kresge LLP (Providence, R.I.) has been elected president of the Rhode Island Women’s Bar Association for 2024-25. She has been an ABI member since 2007.

George Tetler has joined Prince Lobel Tye LLP’s Business Transactions and Real Estate Practice Groups in Worcester, Mass., as a partner. He has been an ABI member since 2023.

Duberstein Problem Released and Call for Judges

Fifty-four teams of law students from around the nation will compete in the 33rd Annual Duberstein Bankruptcy Moot Court Competition, taking place in New York City March 1-3. This year’s problem, which was once again developed by Bankruptcy Judges Paul R. Hage of the Eastern District of Michigan and John T. Gregg of the Western District of Michigan, presents two important bankruptcy issues:

• 1. Whether 11 U.S.C. § 1322(b)(2) precludes a chapter 13 debtor from modifying the rights of the holder of a secured claim that is secured only by a security interest in real property consisting of both the debtor’s principal residence and income-generating rental property.
• 2. Whether 11 U.S.C. § 1325(b)(1) allows a chapter 13 debtor to exclude from the calculation of disposable income voluntary, post-petition contributions to his/her 401(k) retirement plan.

The problem and more information about the competition can be found at tinyurl.com/duberstein25.

Co-sponsored by ABI and St. John’s University School of Law, the Duberstein Competition is well-known for the quality of its judging. New York is a center of bankruptcy practice, and bankruptcy practitioners from New York and elsewhere judge the preliminary rounds and briefs.

The Duberstein Competition is looking for volunteer judges for the preliminary rounds taking place March 1-2, as well as for brief-graders. CLE credit is available for volunteer judges. To volunteer for a preliminary round, sign up by Feb. 8 at tinyurl.com/dubersteinjudge25. To volunteer to be a brief-grader, sign up at tinyurl.com/dubersteinbriefgrader25. Advanced rounds are judged by New York-area bankruptcy judges and more than a dozen leading appellate and bankruptcy judges from around the nation.

The ABI Endowment will present $12,000 in cash prizes to the top teams and individuals. The event will conclude with the annual Gala Awards Reception on the evening of March 3 at the New York Marriott Downtown Manhattan. The reception is annually attended by hundreds of bankruptcy practitioners and judges from around the country. To purchase tickets for the Duberstein Gala, please visit abi.org/events.

ABI Journal Thanks Outgoing Editorial Board Members

With the start of the new year, the ABI Journal Editorial Board says goodbye to some of our dedicated coordinating editors. We thank the following ABI members for their service and enthusiasm in making the Journal the top publication for bankruptcy practitioners:

• Christopher J. Haverstock and Jeffery R. Knight of the Executive Office for U.S. Trustees for the On Our Watch column;
• Brittany J. Nelson of Quinn Emanuel Urquhart & Sullivan LLP for the Last in Line column; and
• Anupama Yerramalli of Latham & Watkins LLP for the Strength in Diversity column.

In addition, we thank Elizabeth B. Vandesteeg of Levenfeld Pearlstein, LLC for her service as an associate editor since 2013. For more information about ABI’s flagship publication, please visit abi.org/abi-journal.

Listen to Two New “Party in Interest” Podcast Episodes

The Dec. 3 episode of ABI’s “Party in Interest” podcast features ABI Executive Director Amy Quackenboss talking with Tara Twomey, director of the Executive Office for U.S. Trustees (EOUST). How did Ms. Twomey develop a passion for consumers and businesses being able to access a financial fresh start in bankruptcy? What steps led her to a career in the restructuring industry? What does she do to decompress? Listen at abi.org/newsroom/abi-party-in-interest-podcast-featuring-tara-twomey-ep-275.

In the Dec. 9 episode, Hon. Christopher S. Sontchi, an International Judge of the Singapore International Commercial Court and a former Chief Judge of the U.S. Bankruptcy Court for the District of Delaware, where he served for 16 years, chatted with Ms. Quackenboss about moments that helped shape his incredible restructuring career — and provides tips to new practitioners entering the industry. Tune in to this episode at abi.org/newsroom/abi-party-in-interest-podcast-featuring-judge-christopher-sontchi-ep-276.

Second Edition of Problems in the Code Is Published

Howard Brod Brownstein, CTP of The Brownstein Group (Conshohocken, Pa.) has guided his eponymous ABI Journal column since 2011, launched at the same time that the ABI Commission to Study the Reform of Chapter 11 was starting its work. The articles collected in this new edition encompass the remarkable diversity of topics that have been the subject of those pieces, and although Congress has acted on a few of the Commission’s recommendations, it is clear there is still work to be done. This digital volume will be a useful guide to some of the more problematic corners of the bankruptcy field, many of them, as Mr. Brownstein remarks in his preface, surrounding such topics as:

• circuit “splits,” whereby interpretation varies by jurisdiction, leading to inconsistent application of laws and forum-shopping;
• areas where courts and/or attorneys have created “workarounds” to adapt the Bankruptcy Code to the reality of business necessities and practice of law, such as the so-called “Jay Alix Protocol” in the Third Circuit; and
• situations where one or more of the ultimate purposes of bankruptcy — e.g., creating fair opportunities for debtors to be rehabilitated, treating creditors of the same class equally, etc. — just aren’t being served well by the Code and Federal Rules of Bankruptcy Procedure as written.

The updated compendium is available as a standalone e-book at store.abi.org and is also included in ABI’s E-Book Subscription platform.

ABI Endowment Fund Update

Thank You to Our Donors!

The ABI Development Committee extends heartfelt thanks to our members for their generous support throughout 2024. Your dedication to the Anthony H.N. Schnelling Endowment Fund has made a meaningful impact, enabling us to fund vital initiatives such as grants for the insolvency community, the Veterans Affairs Task Force, the Resident Scholar Program, moot court competitions and more.

As we look forward to 2025, we’re excited about the opportunities ahead for the ABI Endowment Fund — and we’d love for you to be a part of it!

Endowment Hockey Game at Paskay Seminar

Watch the Tampa Bay Lightning take on the Calgary Flames on Feb. 27 at Amalie Arena in Tampa, Fla., while networking in a luxury box, including food and drinks. Single tickets are $250; sponsorships are $800, which includes two tickets plus acknowledgments. This event is in conjunction with ABI’s Alexander L. Paskay Memorial Bankruptcy Seminar, taking place Feb. 27-28 in Tampa. There are a limited number of tickets, so be sure to sign up today!

A huge thank you goes to Shumaker, Loop & Kendrick, LLP and Steven M. Berman for donating the suite and tickets. If you would like to sponsor or attend this game, please contact ABI Endowment Manager Erin Green at egreen@abi.org. Learn more about this event at abi.org/events/paskay-endowment-hockey-event.

WLC Recap

At ABI’s Winter Leadership Conference, held Dec. 12-14 in Scottsdale, Ariz. ABI Vice President-Development Bradley D. Sharp of Development Specialists, Inc. (Los Angeles) presented ABI Endowment Fund awards to the following donors:

• ABI President-Elect and Retired Bankruptcy Judge Bruce A. Harwood (San Francisco) — Legacy Circle Member;
• ABI Vice President-Membership Jerry M. Markowitz of Markowitz Ringel Trusty & Hartog, PA (Miami) — 30th Anniversary Circle Member; and
• ABI President Christopher A. Ward of Polsinelli (Wilmington, Del.) — Century Council Member.

We are grateful for their support of the ABI Endowment!

Save the Date: Attend a Baseball Game Before ABI’s Annual Spring Meeting Kicks Off!

Watch the Washington Nationals take on the Baltimore Orioles at 6:45 p.m. EDT on April 23 in Washington, D.C., on the eve of ABI’s Annual Spring Meeting, being held April 24-26. A luxury suite has been generously donated and sponsored by BakerHostetler. Tickets are $300, which includes food and beverages. If your firm would like to sponsor this event, please contact ABI Endowment Manager Erin Green at egreen@abi.org. More details will be posted soon at abi.org/events.

September (partial list)

Will LeRoux

U.S. Bankruptcy Court (W.D. Tenn.)

Memphis, Tenn.

Beth A. Levene

U.S. Trustee Program

Washington, D.C.

Kevin Levitsky

Cooch and Taylor, PA

Wilmington, Del.

Kendria Lewis

Epstein Becker & Green, PC

Nashville, Tenn.

Changlun Lin

Cornell University

Ithaca, N.Y.

Scott Lobel

Bates White Economic Consulting

Washington, D.C.

Brad M. Lund

Cheyenne, Wyo.

Benedict W. Luongo

Duke University

Durham, N.C.

Fakhriddin Makhmudov

UW-Madison

Madison, Wis.

Patrick C. Maney

Squire Patton Boggs

Cincinnati

Katherine Marcelo

The Brattle Group

San Francisco

Noa A. Marcus

The City University of New York

Franklin Lakes, N.J.

Greg Mascitti

McCarter & English, LLP

New York

Raymond N. Mashni

Raymond N. Mashni, PLC

Lapeer, Mich.

Sara G. McCann

U.S. Bankruptcy Court (S.D. Fla.)

Lake Worth Beach, Fla.

Michaela McInerney

Pension Benefit Guaranty Corp.

Washington, D.C.

Luka Miladinovic

The Michel-Shaked Group

Boston

John M. Miller

Miller Law Firm

West Des Moines, Iowa

Dustin Mondell

Piper Sandler & Co.

New York

Juan C. Mora

U.S. House Judiciary Committee

Washington, D.C.

Patrick Morley

U.S. Bankruptcy Court (S.D.N.Y.)

New York

Dennis Mossberg

U.S. Bankruptcy Court (D. Del.)

Philadelphia

Nathan Mueller

University of Wisconsin

Shawano, Wis.

Kathryn Nadro

Levenfeld PearlsteinLLC

Chicago

Michael S. Neiburg

Young Conaway Stargatt & Taylor

Wilmington, Del.

Kevin Neuman

Novo Advisors

Chicago

Kirk Nguyen

U.S. Bankruptcy Court (D. Ariz.)

Phoenix

Nicholas Olivencia

Kirkland & Ellis LLP

Chicago

Katherine M. Osborn

U.S. Bankruptcy Court (N.D. Ill.)

Chicago

Albert Pali

Wayne State College

Chicago

Janine Paquette

University of Wisconsin

Madison, Wis.

Kathleen Aine Parnow

U.S. Bankruptcy Court (D. Del.)

Wilmington, Del.

Scott K. Phillips

Healthcare Management Partners

Nashville, Tenn.

Chiara I. Pierobon Mays

University of Wisconsin

Madison, Wis.

Richard G. Placey

Montgomery, McCracken, et al.

Wilmington, Del.

Ian Quinn

Wanger Jones Helsley PC

Fresno, Calif.