Inside ABI May 2025

I could not be more honored to be stepping into the role of ABI’s President on the heels of a long line of dedicated and talented past Presidents, most recently Christopher A. Ward of Polsinelli (Wilmington, Del.). I’ve spent most of the last year shadowing Chris, including attending weekly meetings with Chris, Executive Director Amy Quackenboss and Chief Operating Officer and technological wizard Karim Guirguis. I’ve also attended monthly Management Committee meetings in which we were joined by two-time ABI Chair Soneet R. Kapila of KapilaMukamal, LLP (Fort Lauderdale, Fla.) and Treasurer William H. Henrich of Getzler Henrich & Associates LLC (New York).

Scattered throughout the year were also a number of special projects and other meetings that added members of the Executive Committee to that list. I’m very grateful for all of their guidance and support, so the theme of this first column is gratitude. I can’t thank everyone I want to thank in one column, but here’s a start.

As many of you know, I practiced bankruptcy and insolvency law for 32 years — six in Chicago and the rest in New Hampshire — before being appointed to serve as a U.S. Bankruptcy Judge in the District of New Hampshire on March 11, 2013. (I will always remember that date as a palindrome: 3/11/13.) Not long after I was appointed, I began what is now a lifelong relationship with my wife, Hon. Hannah L. Blumenstiel, who was appointed as a U.S. Bankruptcy Judge in the Northern District of California one month before I was. (The fact that my appointment date and Hannah’s name are both palindromes is interesting to me, and perhaps to me alone, but I wanted to mention it anyway.) Until I retired from the bench in 2024, we were a bicoastal couple, with Hannah shouldering the brunt of most of the cross-country travel. It was as arduous and stressful for her as it sounds, and I owe her a huge debt of gratitude.

In addition, over the years, all of my children (and their spouses and children) had settled on the West Coast, where my mother, sister and her family also live. It was no surprise to anyone, and a relief to many, that I retired and moved there. The fact that I retired from what is widely referred to as “the best job in the world” a couple of years before my 14-year term ended is simply a testament to the importance of family and the advantages of being closer in proximity to those whom you love — in my case, including actually living with my wife under one roof on a full-time basis. Thus, my first “thank you” goes to my family, and especially to Hannah, for their ceaseless support along the way, and going forward.

In Chicago, I practiced at a firm that no longer exists: Schwartz, Cooper, Kolb & Gaynor. I consider myself to have had six mentors there. In the order in which I worked with them, they were Howard Adelman, Ira Kolb, David Missner, David Leibowitz, Richard Bendix and Mickey Gaynor.

Howard taught me early on how to be David against Goliath. Ira (then in his 70s) was a deep thinker and brilliant strategist. One of the first assignments he gave me brought me to the U.S. Supreme Court’s storied 1934 opinion in Local Loan Co. v. Hunt, where I first met the phrase “the honest-but-unfortunate debtor,” a cornerstone of bankruptcy jurisprudence. David Missner reinforced the necessity of knowing all of the relevant facts, constantly saying “change the facts, and I may change the advice.” Richard brought calm, masterful, disciplined organizational skills in preparing cases, skills that I felt that I would never match. Mickey showed me confidence.

At a § 363 sale approval hearing in another state, where the judge had just announced from the bench that regardless of the asset-purchase agreement designating that the law governing the transaction would be that of the purchaser’s home state, rather than the debtor’s, Mickey showed me that it was not too late to say, “Your Honor, I’d like the opportunity to change your mind” — then proceeded to do just that. David Leibowitz, among many other things, instilled in me two important skills. First, for every issue in any contractual dispute, always start the analysis with, “What does the contract say?” (His office desktop had a paperweight inscribed with those words.) Second, in the context of difficult clients, he taught me that being a professional included treating everyone with equal respect, no matter how you personally felt about them. This particular credo carries far into other contexts, but when I think of it, I think of David.

I moved to New Hampshire (with some guidance about where from Hon. Robert Ginsberg in Chicago, whose sister lived there) seeking more of a work/life balance, and I found it at Sheehan Phinney Bass & Green. It felt almost counterintuitive to do that by moving from a 25-lawyer firm in Chicago to a 70-lawyer firm in Manchester, N.H., but the New Hampshire part made it easy. From the outset, I worked closely with Dan Sklar, who both welcomed me and gave me a huge amount of responsibility and independence.

There was no bar admission reciprocity between Illinois and New Hampshire, so I also had the pleasure of studying for a bar exam all over again. Dan first introduced me to ABI, back when Sam Gerdano was Executive Director and there were two meeting planners named “Jennifer”: Dannemiller (now Dugas), and Aversano (now Guirguis). I started participating in ABI’s Northeast Bankruptcy Conference & Consumer Forum from the very beginning and have never looked back. My first outing as a panelist at that conference was, for me, seminal.

The panel was titled “Hot Topics,” which could have meant just about anything. I approached my fellow panelist Hon. Enrique S. Lamoutte from Puerto Rico and said that while I wasn’t sure what I wanted to talk about, I had a somewhat unconventional idea for a presentation about recharacterization. Without knowing much more than that, he said, “Sure, go for it,” and turned me loose. I gathered slides from various well-known artists and used them to illustrate the concept of things being something other than what they appear to be, along with a discussion of one of Hon. Joan N. Feeney’s new opinions on recharacterizing debt as equity. To this day, it remains one of my favorite panel experiences. Plus, I learned early on what an excellent opportunity ABI provides to get to know local lawyers and judges at regional conferences. I don’t think I’ve missed more than one or two of the Northeast conferences since that first one. I look forward to attending again this summer, July 14-16 at the Omni Mt. Washington Resort in Bretton Woods, N.H. (register at abi.org/events).

One of the biggest adjustments in moving from Chicago to New Hampshire is that I went from a court of nine judges to a court of one: Hon. James E. Yacos. Judge Yacos had been a referee and a bankruptcy judge in Florida before retiring to New Hampshire, and was brought back on recall not long after the 1978 Bankruptcy Code became effective. The first time I attended a hearing in his courtroom, I was surprised to see that he took the bench wearing a business suit without a robe, which was a first for me. I quickly found myself saying that if you have to move from a multi-judge court to a single-judge court, I couldn’t imagine a better judge to appear before. He was always thoroughly prepared, and he came into dispositive motion hearings with a list of tough questions for both (or all) sides. He also wrote and published an occasional newsletter called the Broken Bench Review, which he forbade lawyers from citing in his court.

I knew the newsletter from my time in Chicago, because Schwartz Cooper subscribed to it. I learned from its title where the word “bankruptcy” comes from. It’s derived from the Italian phrase “banca rotta,” or “broken bench,” referring to the practice in medieval Italian markets where, if a merchant or banker ran out of money, his bench in the market would be broken — literally. It never ceased to amaze me how far and wide the Broken Bench Review’s readership spread. I would occasionally represent the state of New Hampshire’s interests in bankruptcy cases elsewhere. Once, in a chambers conference with Hon. Burton R. Lifland and about 30 New York City lawyers, I was feeling a little marginalized until I mentioned an article I had read in the Broken Bench Review about one of his hearings in the Johns-Manville case. His face lit up, he started to reminisce about some of his times with Judge Yacos, and all of a sudden, I went from an outsider at the edge of his inner office to, well, feeling a little less marginalized. (It didn’t affect how he ultimately ruled in the case, but it was nice to feel that connection nonetheless.)

I practiced at Sheehan Phinney for almost 25 years, more recently with my beloved partners Christopher M. Candon and James S. LaMontagne, before being appointed to the bench. In the mid-1990s, New Hampshire had acquired a second (albeit temporary) bankruptcy judgeship. Hon. Mark W. Vaughn was appointed to fill it, and when Judge Yacos retired, Hon. J. Michael Deasy was appointed. However, when Judge Vaughn retired in 2010 after Congress failed to pass legislation making the temporary seat permanent, New Hampshire lost its temporary seat and reverted to being a single-judge district, so Judge Deasy’s caseload literally doubled overnight. The two bankruptcy judges from Maine (Hon. Jim Haines and Hon. Louis H. Kornreich) were designated to hear cases in New Hampshire to ease the burden. It was Judge Deasy’s announced retirement that opened the door for me to apply in 2012.

Fortunately for me, Judge Deasy was willing to continue to serve on recall for a few years, until he fully retired in 2017. I was thrilled to have a judicial colleague right across the hall for the duration of his recall tenure. Conflicts were easier to resolve, and during the first two years I had my share, so the Maine judges didn’t have to pick up the conflicts slack. I had questions about the business of being a judge at first, and he would reliably provide both support and (most of the time) encourage me, socratically, to figure them out for myself, which was exactly the right approach.

It is here that I will express some of my most profound gratitude. As some of you might know, my oldest son was diagnosed with pancreatic cancer at the age of 29 in 2014. He had none of the risk factors, and it took us all by devastating surprise. He bravely and courageously underwent many treatments, big surgeries, and countless ups and downs. Throughout that difficult time, Hannah and I spent a lot of time with him and his family on the West Coast. During the highs, we were filled with hope and encouragement. During the lows, Hannah and I often had to travel to him on very little notice for one emergent procedure or another.

Throughout this time, Judge Deasy, Hon. Michael A. Fagone and Hon. Peter G. Cary were always ready to step in with slightly less notice than we had, and sometimes for extended periods of time. They covered my calendar and dealt with motions that I couldn’t handle remotely, or which couldn’t wait until I returned. My son ultimately passed away five years after his diagnosis. He used to say that when times are difficult, community is all the more important, and “that is why we have communities.” Those three judges (along with my court staff and many others, too) were shining illustrations of that.

I will try to address others to whom I am grateful in future columns, but I also want to start a tradition in this column (for me, anyway) of sharing stories about the stars. As I told Chris in his interview of me published in the March 2025 issue (read it at abi.org/abi-journal/inside-abi-march-2025), I’ve been interested in astronomy and space since I was a kid. I especially like to learn about celestial objects and events that you can see without the aid of a big, fancy telescope (though I love those, too), and to share some of the stories behind the objects.

This time, we’ll start with the Pleiades, an open star cluster lying just to the right of the constellation Taurus. In Greek mythology, the Pleiades are the Seven Sisters. Ancient Greeks seem to have had better eyesight than we do, because squint as we might, most of us can only see six of them with the naked eye. To me, the constellation looks like a min-version of one of the dippers, or maybe a kite. Through even a small telescope, though, they look like a spray of diamonds on black velvet.

If you want to see the Pleiades during the daytime, just look at the hood or trunk of any Subaru, the emblem for which is six stars (one much brighter than the other five) inside of an oval. Yes, those six stars. I have owned Subarus since 2003, but trust me when I say that I did not buy the cars because of the emblem; I bought them because they would reliably get me up my driveway after a New Hampshire snowstorm.

Originally, the story I had heard about the Subaru emblem is that in Japanese astronomy, the constellation that we call the Pleiades is known as “Subaru” after the Japanese goddess of beauty, a wonderfully romantic choice for a car emblem. The truth about the Subaru emblem, however, lies in corporate iconology.

Subaru is essentially the automotive division of Fuji Heavy Industries Ltd., which was formed from the conglomeration of five different manufacturing companies brought together into one. The six-star constellation symbol was chosen to represent the original five companies combining into a larger, bright and shining sixth. The story goes that the CEO of Fuji Heavy Industries at the time, Kenji Kita, conducted a company-wide search for a name for its first prototype car, which was then known only as “P-1.” When the search didn’t produce any appealing names, he chose “Subaru,” a name that he remembered fondly from his childhood.

In Japanese, the word “Subaru” also means “to get together” or “to tie together,” so “Subaru” fits the corporate conglomeration model and — figuratively and literally — describes both the new company and its product: an automobile composed of many parts. It’s also a fitting way to tie back to my comments about the ABI community — a group that is truly greater than the sum of its parts.

With that, I will sign off for now. I recently had the pleasure of attending ABI’s Distressed Real Estate Symposium in March in Newport Beach, Calif. The two co-chairs, Matthew Bordwin of Keen-Summit Capital Partners LLC (Melville, N.Y.) and Michael A. Criscito of FTI Consulting, Inc. (Los Angeles), put on a stellar symposium (read more on the next page). I look forward to seeing as many of you as possible at many ABI conferences and gatherings in the coming year and beyond, and to working with you to help ABI continue to strengthen, grow and prosper.

Hon. Bruce Harwood is a retired U.S. Bankruptcy Judge for the District of New Hampshire, appointed to the bench in March 2013, and he currently resides in San Francisco. He previously served as ABI’s Secretary and Vice President-Communications & Information Technology.

Commercial real estate has continued to take a hit due to modifications in work culture, and has endured a record amount of maturing loans, boosting the prospect of a surge in defaults as property owners are forced to refinance empty or nearly empty office spaces at higher rates. For a second year, ABI’s Distressed Real Estate Symposium, held March 26-28 at the Pendry Newport Beach in Newport Beach, Calif., brought together a stellar roster of faculty from across the commercial real estate and distressed-debt spectrum to delve into the impending problems of higher vacancies and weakening cash flows affecting many commercial properties, as well as other timely issues related to real estate.

Nearly 150 attendees participated in sessions on CRE workouts, REIT restructurings, guarantees, distressed retail and real estate, investor perspectives on acquiring distressed commercial real estate in today’s market, CMBS financing and the role of special servicers, and topics related to various fiduciary roles. The program also featured a keynote by Lisa Picard, a former CEO of Blackstone’s EQ Office and a founding partner of Oxygen Investment Management, who discussed driving value in distressed office assets. Several networking sessions rounded out the program. Up to 9.3 hours of CLE credit were available.

ABI thanks this year’s advisory board, led by Co-Chairs Matthew Bordwin of Keen-Summit Capital Partners LLC (New York) and Michael A. Criscito of FTI Consulting, Inc. (Los Angeles), for putting together yet another valuable and informative program. We are also grateful to the following sponsors for their financial support of this year’s symposium: agencyIP/Sherwood Partners, Inc.; Allen Matkins Leck Gamble Mallory & Natsis LLP; DLA Piper; FTI Consulting, Inc.; Getzler Henrich & Associates LLC; Greenberg Glusker Fields Claman & Machtinger LLP; Keen-Summit Capital Partners LLC; Loeb & Loeb LLP; and Wilmington Trust.

Check back at abi.org/events for information on next year’s program as it becomes available. abi

New ABI Officers and Directors Elected

ABI members have been elected to leadership positions as officers and directors. Hon. Bruce A. Harwood (ret.) (San Francisco) has become ABI President for a one-year term, succeeding Christopher A. Ward of Polsinelli (Wilmington, Del.), who will now assume the position of Immediate Past President. Soneet R. Kapila of KapilaMukamal, LLP (Fort Lauderdale, Fla.) will serve as Chairman. Stephen D. Lerner of Squire Patton Boggs (Cincinnati), formerly ABI Vice President-International, was named President-Elect and will become ABI President in April 2026.

Katherine R. Catanese of Foley & Lardner LLP (New York) replaces Mr. Lerner as ABI Vice President-International. James R. Irving of Dentons (Louisville, Ky.) replaces Jerry M. Markowitz of Markowitz Ringel Trusty & Hartog, PA (Miami) as ABI Vice President-Membership. Adrienne K. Walker of Foley & Lardner LLP (Boston) replaces Eve H. Karasik of Levene, Neale, Bender, Yoo & Golubchik LLP (Los Angeles) as ABI Vice President-Diversity & Inclusion. They will serve two-year terms. In addition, Clifford A. Zucker of FTI Consulting, Inc. (New York) was elected to serve as an At-Large member of the Executive Committee, replacing Franklind Davis Lea of J.S. Held LLC (Alpharetta, Ga.).

The following Executive Committee members were reappointed for second terms: Hon. Hannah L. Blumenstiel of the U.S. Bankruptcy Court for the Northern District of California (San Francisco) as ABI Vice President-Research Grants, Hon. Michelle M. Harner of the U.S. Bankruptcy Court for the District of Maryland (Baltimore) as ABI Vice President-Education and Bradley D. Sharp of Development Specialists, Inc. (Los Angeles) as ABI Vice President-Development, as well as Stephen A. Spitzer of AlixPartners LLP (New York) as an At-Large member of the Executive Committee.

Other Executive Committee members who have been renominated for an additional term include Hon. Paul R. Hage of the U.S. Bankruptcy Court for the Eastern District of Michigan (Detroit) as ABI Secretary and Jennifer M. McLemore of Williams Mullen (Richmond, Va.) as ABI Vice President-Communications & Information Technology. Sonia Colón of Ferraiuoli LLC (San Juan, Puerto Rico), Kristina M. Johnson of Jones Walker LLP (Jackson, Miss.), Kenneth W. Mann of SC&H Capital (Ellicott City, Md.), Eric J. Monzo of Morris James LLP (Wilmington, Del.), Kristina M. Stanger of Nyemaster Goode, PC (Des Moines, Iowa), Elizabeth B. Vandesteeg of Levenfeld Pearlstein, LLC (Chicago) and Wayne P. Weitz of B. Riley Advisory Services (New York) have also been renominated for additional terms as ABI Director.

Nine ABI members were elected to their first terms on ABI’s Board of Directors:

• John C. Cannizzaro of Ice Miller LLP (Columbus, Ohio);
• Rebecca Redwine Grow of Hendren, Redwine & Malone, PLLC (Raleigh, N.C.);
• Hannah White Hutman of Hoover Penrod PLC (Harrisonburg, Va.);
• Kenneth D. Kraft of Dentons Canada LLP (Toronto);
• Hon. Christopher M. Lopez of the U.S. Bankruptcy Court for the Southern District of Texas (Houston);
• Ryan A. Maupin of Deloitte Transactions and Business Analytics LLP (New York);
• Alan R. Rosenberg of Markowitz, Ringel, Trusty & Hartog, PA (Fort Lauderdale, Fla.);
• Tara J. Schellhorn of Riker, Danzig LLP (Morristown, N.J.); and
• Evan J. Zucker of Blank Rome LLP (New York).

There are 60 members on the ABI Board of Directors. Visit abi.org/about-us/board-directors for the complete list of Directors and Officers. Full profiles of the new Directors and Officers will be featured in the next issue.

Young and New Members Committee Hosts Pre-ASM Happy Hour

ABI’s Young and New Members Committee hosted a fun and casual virtual happy hour on April 9. The informal gathering was an opportunity for committee members, and those new to ABI’s Annual Spring Meeting, to exchange tips for navigating conferences and ways to maximize their conference experience. This virtual happy hour was a perfect chance to start building relationships and get ready for a successful event. The Young and New Members Committee hopes to have additional pre-in-person ABI conference happy hours in the future, so stay tuned!

ABI’s Diversity and Inclusion Working Group Announces 2025 Mentorship Program Participants

ABI’s Diversity, Equity and Inclusion (DEI) Committee announced that it has commenced its 2025 Mentoring Program to connect active or recently graduated business and law students with past ABI Presidents and members who can provide guidance on career and professional development. Launched in 2021, the program brings mentors and mentees together to discuss ethical issues, common malpractice risks and traps, career goals, client development and more. The 2025 group of mentees includes Ruthleona Clement of Bond, Schoneck & King, PLLC (Bronx, N.Y.); Maria L. DeOliveira of Brown Rudnick LLP (New York); Shant Eulmessekian of DLA Piper (Los Angeles); Mariam Khoudari of Young Conaway Stargatt & Taylor, LLP (Philadelphia); Christopher Lee of Sandberg Phoenix & von Gontard PC (St. Louis); Madeleine L. Sharp of the U.S. Bankruptcy Court for the District of Delaware (Philadelphia); Cathy Shi of EY-Parthenon (Long Island City, N.Y.); and Jenna J. Riedel of the U.S. Bankruptcy Court for the District of South Dakota (Sioux Falls).

ABI members volunteering to serve as mentors this year include Jace A. Ferraez of the U.S. Bankruptcy Court for the Northern District of Mississippi (Aberdeen); Jeffrey S. Fraser of Albertelli Law (Lake Worth, Fla.); Neil Gupta of SSG Capital Advisors (Conshohocken, Pa.); Hon. Kyu “Mike” Paek of the U.S. Bankruptcy Court for the Southern District of New York (Poughkeepsie); Luis E. Rivera, II of Gray Robinson, PA (Fort Meyers, Fla.); Chapter 13 Trustee Daryl J. Smith (Shreveport, La.); and Rob Vanderbeek of Novo Advisors (New York).

ABI’s Mentorship Program will hold bi-monthly meetings to discuss a variety of topics with resources from ABI and members of the reorganization community, including judges, trustees, attorneys and accountants. The group meetings will provide opportunities to interact with other experienced insolvency professionals while offering an educational program and fostering opportunities to discuss important topics in the mentees’ professional development.

The overall mission of the DEI Committee is to address issues with diversity, including racial diversity, within ABI, its leadership and our industry. The DEI Committee is chaired by Erin N. Brady of Hogan Lovells US LLP (Los Angeles) and Kimberly A. Posin of Latham & Watkins LLP (Los Angeles).

Listen to the Latest Episode of “Women in Restructuring” Podcast Featuring Rachel Strickland

“Women in Restructuring” podcast host Sarah Foss of Debtwire talked with Rachel Strickland of Fried, Frank, Harris, Shriver & Jacobson LLP about in-court restructuring trends, challenges for women in the field, and why restructuring practice can be a bit like the movie Fight Club. Listen to this and other podcast episodes by visiting wir.podbean.com, or subscribe on your preferred podcast service!

Summer 2025 Is Bursting with Hot ABI Regional Programs, Some in New Venues

ABI’s summer conference season kicks off in June, and we’ve got a slew of regional conferences lined up — some of which are in new locations this year.

For the first time, the Rocky Mountain Bankruptcy Conference heads to Park City, Utah, June 11-13 at The Chateaux Deer Valley. Taking advantage of the natural beauty of the area, we’ve got a number of extracurricular activities lined up — including golf and pickleball tournaments, fly-fishing and a distillery tour. You also won’t want to miss a special working luncheon featuring an economic outlook.

Then head to the New York Hilton in Midtown Manhattan for the New York City Bankruptcy Conference on June 17. The New York conference continues to be one of our most popular programs and provides an excellent opportunity to network with hundreds of practitioners from throughout the metro area. One unique feature of this annual conference is in its expanded workshop format: Each grouping of five concurrent breakout sessions is presented twice with different panelists, giving attendees the option of going in-depth on the topics of their choice.

The next day, the Central States Bankruptcy Workshop returns to the Windy City June 18-20, this time to The Ritz-Carlton, Chicago in downtown Chicago. This is a city rich in entertainment and fun activities, and this year’s program features a “The Bear”-themed food tour centered around the highly rated Chicago-based FX series, a wine tasting at LIVA by Chicago Winery, and an improv show at the famous Second City comedy club.

We next head east to the White Mountains of New Hampshire for this year’s Northeast Bankruptcy Conference and Consumer Forum, as it returns to the Omni Mt. Washington Resort in Bretton Woods July 14-16. This historic resort provides incredible views of Mt. Washington and the surrounding area, and is an attendee favorite. Two weeks later, the Southeast Bankruptcy Workshop moves back to the ever-popular Ritz-Carlton, Amelia Island in Amelia Island, Fla., July 24-27.

August programming features the Midwest Regional Bankruptcy Seminar, which returns as a day-long program on Aug. 12 at the Westin Cincinnati in downtown Cincinnati; the Mid-Atlantic Bankruptcy Workshop, which arrives at the Hershey Lodge in Hershey, Pa., Aug. 18-20; and the Southwest Bankruptcy Conference, which heads to the Pacific Coast at the Ritz-Carlton Bacara, Santa Barbara in Santa Barbara, Calif., Aug. 25-27.

ABI’s regional conferences are held in family-friendly venues, so go to any one of these terrific programs — or go to all! — and be sure to bring the family. Please visit abi.org/events to sign up for the program(s) that interest you, and we’ll look forward to seeing you this summer!

Up-and-Coming Industry Leaders, We Are Looking for You!

Since its inception in 2017, ABI’s “40 Under 40” program has recognized younger insolvency professionals who are committed to the highest standards of achievement at work and in their communities. The outstanding list of 2024 honorees hailed from all practice areas and all regions of the country. The 2025 application period is currently underway and is open to bankruptcy, insolvency and restructuring professionals from around the world who are 40 years old or younger as of Dec. 1, 2025. You need not be an ABI member to be considered, and there is no fee to apply. You can nominate yourself or a colleague, and those who were nominated previously are encouraged to reapply.

Please visit abi40under40.org for more details and to read biographies on past honorees. Applications will be accepted until June 30. Nominees will be judged by a diverse steering committee of insolvency professionals. The selection process is highly competitive; we expect more than 300 nominations this year.

Unlock Bankruptcy Law Essentials from Top Industry Professionals with Restructuring Masterclass Program

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Instructors include Chapter 12 and 13 Trustee Kelly M. Barnhart (Suffolk, Va.); Hon. Lisa G. Beckerman of the U.S. Bankruptcy Court for the Southern District of New York (New York); Hon. Hannah L. Blumenstiel of the U.S. Bankruptcy Court for the Northern District of California (San Francisco); Dawn M. Cica of Carlyon Cica Chtd. (Las Vegas); Kathryn A. Coleman of Hughes Hubbard & Reed LLP (New York); Hon. Daniel P. Collins of the U.S. Bankruptcy Court for the District of Arizona (Phoenix); H. David Cox of Cox Law Group, PLLC (Lynchburg, Va.); Hon. Robert D. Drain (ret.) of Skadden, Arps, Slate, Meagher & Flom LLP (New York); Rosa J. Evergreen of Arnold & Porter Kaye Scholer LLP (Washington, D.C.); Maja Zerjal Fink of Clifford Chance LLP (New York); Jay M. Goffman of Smith Goffman Partners (New York); Timothy Graulich of Davis Polk & Wardwell LLP (New York); Hon. Michelle M. Harner of the U.S. Bankruptcy Court for the District of Maryland (Baltimore); Ira L. Herman of Blank Rome LLP (New York); Evan Hill of Skadden, Arps, Slate, Meagher & Flom LLP (New York); Marc E. Hirschfield of Royer Cooper Cohen Braunfeld LLC (New York); Hannah White Hutman of Hoover Penrod PLC (Harrisonburg, Va.); Regina Stango Kelbon of Blank Rome LLP (Philadelphia); Sam S. Kohn of Dorsey & Whitney LLP (New York); Deborah Kovsky-Apap of Troutman Pepper Locke LLP (Southfield, Mich.); Jeff J. Marwil of Ocean Boulevard Strategic Advisors and SC&H Capital (Boca Raton, Fla.); Jennifer M. McLemore of Williams Mullen (Richmond, Va.); Prof. Nancy B. Rapoport of the University of Las Vegas William S. Boyd School of Law, (Las Vegas); Thomas J. Salerno of Stinson LLP (Phoenix); Hon. Deborah L. Thorne of the U.S. Bankruptcy Court for the Northern District of Illinois (Chicago); and Evan J. Zucker of Blank Rome LLP (New York). Hon. Kevin J. Carey (ret.) of Hogan Lovells (Philadelphia) also recorded a Masterclass session prior to his passing on April 11, 2024.

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Best of ABI Compilations for 2024 Available Soon

Coming in May, our annual digital compilations of the best ABI Journal articles are due to be released, each edited by an honoree from our 2024 “40 Under 40” class. Brittany Falabella of Hirschler Fleischer, PC (Richmond, Va.) edited Best of ABI 2024: The Year in Consumer Bankruptcy. It covers a range of topics that will be of interest to consumer bankruptcy practitioners, including chapter election, qualification and conversion issues; exemptions; chapter 13 (both pre- and post-confirmation), and matters related to both secured creditors and trustees. Thomas S. Kessler of Cleary Gottlieb Steen & Hamilton LLP (New York) edited Best of ABI 2024: The Year in Business Bankruptcy. His volume covers such topics as cyber-related bankruptcies and data-privacy; business-related bankruptcy decisions (and Code interpretations); third-party releases; mass tort and cross-border cases, and much more.

Both books will be available on our ABI bookstore (store.abi.org) as standalone ebooks, as a bundle, and on our ebook subscription platform.

Newer Insolvency Professionals: Sign Up to Attend the NCBJ/ABI Trial Skills Workshop in September

ABI is happy to be collaborating once again with the National Conference of Bankruptcy Judges (NCBJ) for an intensive, full-day program designed to help bankruptcy practitioners build trial skills and increase confidence for better outcomes for clients. Limited to 20 attorneys with 12 or fewer years of practice, this interactive, learning-by-doing program will take place Sept. 17 from 8:00 a.m.-4:00 p.m. CDT, the first day of NCBJ’s Annual Meeting, happening Sept. 17-20 at the Marriott Marquis in Chicago.

Hone your skills for the most effective and persuasive direct and cross-examinations, including impeachment, admission and use of exhibits, making and responding to objections, and offering and opposing expert witness evidence. Obtain individual feedback with a judge during a private video review of your concluding examination. Interact with 15 sitting federal judges over breakfast and lunch (included) at the U.S. District Courthouse in Chicago, and network with other participating bankruptcy attorneys.

Apply by June 2 at ncbj.org/education/trial-skills, or send an email to ncbjtrialskills@gmail.com. Applicants selected to participate will be notified by email on or before June 30. Selected participants must attend a mandatory Zoom meeting (to be scheduled at a later date), during which program leaders will outline expectations and participants may ask questions. Participants also must register as NCBJ 2025 attendees no later than July 31 (learn more at ncbj.org/annual-meeting) and should plan to arrive in Chicago by Sept. 16 for the workshop.

Apply to Become an ABI Journal Coordinating Editor

Do you look forward to reading the ABI Journal every month and want to get more involved? ABI welcomes members to write for the Journal, but you can also take your involvement a step further: The ABI Journal Editorial Board is seeking qualified candidates to serve in 2026 as coordinating editors.

Coordinating editors are responsible for finding authors to cover assigned slots throughout the year for specified columns. There can be up to two coordinating editors for most columns, but some columns only require one editor. The ABI Journal has more than 30 columns that run throughout the year. In order to ensure a broad range of topics and submissions, coordinating editors are asked not to solicit or select directly from their firms for all or most of the slots.

For more information, visit abi.org/newsroom/abi-journal/submissionguidelines-and-deadlines. If you are interested, send your resume, a brief letter of interest and a list of preferred columns to ABI Managing Editor Elizabeth A. Stoltz at estoltz@abi.org by June 23. ABI’s Editor-in-Chief and Vice President-Publications will make their selections based on the positions available. ABI membership is required to serve on the editorial board.

To read past issues, please visit abi.org/abi-journal.

Winter 2025 ABI Law Review Analyzes § 362(a)(3) , Religious Tithing, § 510(b) Claim Subordination and 2024’s Duberstein Case Problem

The ABI Law Review’s Winter 2025 issue, published at the end of last month, touches on several important issues in bankruptcy law and includes a special section covering the case law problem presented during 2024’s Conrad B. Duberstein Moot Court Competition in New York. The two articles and the student note that appear in this issue address whether a debtor is able to violate the automatic stay provision found in 11 U.S.C. § 362(a)(3), whether tithing is considered a necessary expense in a consumer bankruptcy proceeding, and the interplay between the bankruptcy process and the SEC’s use of equitable receiverships to compensate securities-holders.

The first article is authored by Laura B. Bartell, a professor of law at Wayne State University Law School in Detroit. Her article, “Applying Section 362(a)(3) to the Debtor: A Square Peg in a Round Hole,” analyzes the text of § 362(a)(3) and utilizes language from the recent Supreme Court case City of Chicago v. Fulton to suggest that a violation of the automatic stay is the incorrect remedy when a debtor takes actions that affect property of the estate.

In the next piece, Mark Lammey, a clerk with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania in Reading, explores the potentially strenuous relationship between the religious practice of tithing and a debtor’s obligation to pay back creditors. His article, “You’re Rendering What Unto Whom? How Tithing Is Putting Creditors and Debtors at Odds in Modern Bankruptcy,” explores the historical roots of the practice, then analyzes how changes to the Bankruptcy Code have influenced whether courts have held tithing to be a “reasonably necessary” expense or an avoidable transaction.

Next, Marybeth Ehlbeck, a 2025 graduate of St. John’s University School of Law and an Executive Articles Editor of the ABI Law Review, provides us with her note, “A Critique of 11 U.S.C. § 510(b)’s Claim Subordination: Perspectives from Private Enforcement.” This piece discusses the subordination of securities claims in bankruptcy and the interplay between the bankruptcy process and the SEC’s use of equitable receiverships to compensate securities-holders.

Lastly, a special section features the problem from the 32nd Annual Duberstein National Bankruptcy Moot Court Competition. The section first contains a case summary to the problem, written by Lianna Meehan, a 2025 graduate of St. John’s University School of Law and the Executive Competition & Research Editor of the ABI Law Review. Following the case summary, the preface and problem are written by Bankruptcy Judges John T. Gregg and Paul R. Hage of the Western and Eastern Districts of Michigan, respectively. Competitors had been asked to prepare an appellate brief and apply their oral advocacy skills to argue about (1) whether a post-petition, pre-conversion equity increase in debtor’s property inures to the benefit of the debtor or the bankruptcy estate pursuant to §§ 348 and 541, and (2) whether a trustee may sell the ability to avoid and recover transfers pursuant to §§ 547 and 550.

To make sure you are subscribed to receive the print edition, please visit abi.org/printlawreview. Back issues of the ABI Law Review can be accessed at abi.org/members/ member-resources/law-review.

ABI Welcomes New Presidential Partner to the ABI Partner Program

ABI is proud of its Partner Program and appreciates the partnerships we have with our 30 Presidential, Executive and Capital Partners. We are pleased to welcome Gavin/Solmonese LLC as a Presidential Partner for 2025-26.

A longtime participant in ABI and led by former ABI President Edward T. “Ted” Gavin, the firm provides financial advisory, interim management, litigation support and asset valuation, and creates alternative channels for recovery and growth. Gavin/Solmonese has now become our fourth Presidential Partner.

Visit abi.org/about-us/partners for the profiles of ABI’s Presidential, Executive and Capital Partners, which are streamed across the homepage of ABI’s website and are listed on the next page. For more information on becoming an ABI Partner, please contact partners@abi.org.

ABI Endowment Fund Update

Endowment to Host Event in July at ABI’s Southeast Bankruptcy Workshop

The Anthony H.N. Schnelling Endowment Fund will be hosting an event at the 2025 Southeast Bankruptcy Workshop, taking place July 24-27 at The Ritz-Carlton, Amelia Island in Amelia Island, Fla. Details are forthcoming. We also will be hosting our annual silent auction. If you would like to donate an item for the auction, please reach out to ABI Endowment Manager Erin Green at egreen@abi.org.

Join Our Regional Committee(s) and Make a Difference!

As we continue to grow and strengthen our efforts, we are excited to invite passionate individuals like you to join our Regional Committee. This is a wonderful opportunity to make an impact by shaping programs, initiatives and events that benefit our community and beyond.

Why Join?

• Influence Regional Initiatives: Your insights and ideas can help guide key projects.
• Connect with Leaders: Collaborate with a diverse group of professionals dedicated to meaningful change.
• Make a Difference: Be part of a team committed to advancing our mission and goals.

What’s Involved?

As a committee member, you will attend quarterly virtual meetings; provide input on regional programming and engagement strategies; and serve as an ambassador, sharing our mission with your network.

Whether you are a longtime supporter or newly interested in becoming more involved, we would be thrilled to have your voice at the table. To express your interest, please contact ABI Endowment Manager Erin Green at egreen@abi.org and we will follow up with next steps.

ABI Founders Society: Another Way to Give to the Endowment

By becoming a member of the ABI Founders Society, you can continue to support the Endowment and ABI for years to come through estate-planning. All the proceeds benefit the Endowment and are 100 percent tax-deductible. When you include ABI in your estate plan, your generosity helps provide additional funding for the Endowment so that it can continue to support current and future industry members. Please visit the ABI Founders Society for more information. If you have any additional questions, please email ABI Endowment Manager Erin Green at egreen@abi.org.

Apply for the Sheila Smith Young Women in Restructuring Scholarship

The ABI Endowment Fund is seeking applicants for the Sheila Smith Young Women in Restructuring Scholarship. Sheila Smith was a leading national authority in the restructuring marketplace and known as an exceptional mentor to young women in her field. She was co-leader of Deloitte’s Corporate Restructuring Group, and she led its New England Financial Advisory Services Practice, as well as worked for Gordon Brothers as a senior advisor (among other roles) during her career. She passed away in November 2023 after a battle with pancreatic cancer.

To donate, visit abi.org/endowment/sheila-smith.

Levels of Support for the ABI Endowment

Diamond Level $80,000-$100,000

Platinum Level $65,000-$79,999

Millennium Level $50,000-$64,999

30th Anniversary Circle $30,000-$49,999

Century Council Member $25,000-$29,999

Visionary Member $20,000-$24,999

Legacy Member $15,000-$19,999

Lifetime Member $10,000-$14,999

Benefactor $5,000-$9,999

Sustaining Member $2,000-$4,999

Leadership Club $1,000-$1,999

Donor $100-$999

Donate online at abi.org/endowment. Donations are tax-deductible and can be paid over five years. Contact Erin Green at egreen@abi.org for more information. abi