ABI Developments

2ND QUARTER 2024

VOL. 11, NO. 2

DEVELOPMENTS
From the ABI Anthony H.N. Schnelling Endowment Fund

Endowment Celebrates Its 35th Anniversary

The ABI Anthony H.N. Schnelling Endowment Fund was created 35 years ago to provide resources for bankruptcy and insolvency research and education. In that time, the Endowment has been able to help fund important industry studies. ABI is grateful to every one of the Endowment’s donors for their support over the last 35 years. Without you, the Endowment would not be able to help fund the following programs for current and future members:

Robert M. Zinman Scholar-in-Residence Program;
Conrad B. Duberstein National Bankruptcy Moot Court Competition;
Task Force on Veterans and Servicemembers Affairs; and
Major research studies, including:
- ABI Commission to Study the Reform of Chapter 11 (which led to the enactment of the Small Business Reorganization Act and the creation of subchapter V);
- Study to Look at the Effects of the ACA;
- Coalition for Consumer Debtor Education;
- and more!

Grants Committee Updates

ABI will be restarting its Robert M. Zinman Scholar-in-Residence program, funded by the Endowment, beginning with the fall 2024 semester. The Resident Scholar program enables ABI to host an academic in-office for a semester to conduct research, help field press calls and inquiries from the general public, draft and edit book manuscripts, prepare materials for and present at ABI conferences, write articles for the ABI Journal and ABI Law Review, appear before Congress, assist the Endowment Committee on its reviews of research grant applications, and more. The program, named for ABI co-founder and former St. John’s University School of Law Professor Robert M. Zinman, had been on hiatus for several years.

In addition, the Grants Committee has approved funding to support a research project proposed by Prof. Joe Schomberg of Drake University Law School. Using credit bureau data, Prof. Schomberg will examine whether individual consumer debtors who file for bankruptcy and receive a discharge under chapter 7 actually change their financial habits and take steps that suggest they have adopted a more positive, healthy financial outlook — namely, whether a chapter 7 discharge offers a psychological fresh start in addition to a financial fresh start.

Liquidating Trusts Can Support ABI Endowment

Liquidating trusts commonly receive nominal payments (such as tax rebates or returned utility deposits) where distribution would either require a wasteful administrative expense, or violate a de minimis payment provision in a reorganization plan. The Bankruptcy Code currently provides no direct solution on how to dispose of surplus funds (also referred to as “remnant funds”) in such circumstances. As liquidating chapter 11 plans become increasingly common, it will become more important for plans to specify how remnant funds should be distributed. One solution is to donate surplus assets to ABI’s Anthony H.N. Schnelling Endowment Fund, a 501(c)(3) charity. Reach out to Endowment Manager Erin Green at egreen@abi.org for a sample plan.

Generation Showdown Wraps Up at End of July

There are only three weeks left to donate to the first-ever ABI Endowment Generation Showdown, the last day of which is July 31. The generation with the most donors will be declared the winner and entered into a raffle to win a foursome at Fenway Golf Club in Scarsdale, N.Y. No donation is too small; it’s your participation that matters! So far, we have raised $17,300 for the Endowment! Help us reach our goal of $20,000! Reach out to Endowment Manager Erin Green at egreen@abi.org for more information.

Don’t Miss These Upcoming 2024 Endowment Events

GIVING TUESDAY

Southeast Endowment Cocktail Reception on Friday, July 26, in conjunction with the Southeast Bankruptcy Workshop
L.A. Wine Dinner on Wednesday, October 23, at the Skirball Cultural Center
Houston Endowment Event on Tuesday, November 12, in the Houston offices of Gray Reed.

Additional Way to Donate: THE ABI FOUNDERS SOCIETY

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 ABI Endowment Fund and are 100 percent tax-deductible. When you include ABI in an 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, or contact ABI Endowment Manager Erin Green at egreen@abi.org.

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Endowment Fund Development Committee

Vice President—Development:
Bradley D. Sharp
Development Specialists, Inc.

Committee Members:
Steven M. Berman
Shumaker, Loop & Kendrick, LLP

Marchand Boyd
Axos Bank

Dawn M. Cica
Carlyon Cica Chtd.

Eric J. Fromme
Pacheco & Neach, P.C.

Erika F. Johnson
Bayard, P.A.

Kristina M. Johnson
Jones Walker LLP

Donald A. Workman

Regional Endowment Chairs

Mid-Atlantic
Chair: Donald A. Workman
Kara Hammond Coyle –
Young Conaway Stargatt & Taylor, LLP
Charles Forman – Forman Holt
Neil B. Glassman – Bayard, P.A.
Matthew B. Harvey – Morris, Nichols, Arsht & Tunnell LLP
Michael R. Herz – Fox Rothschild LLC
Warren Martin – Porzio, Bromberg & Newman, PC
James E. Van Horn – Barnes
& Thornburg LLP

Midwest
Chair: Lisa Vandesteeg – Levenfeld Pearlstein, LLC
Daniel A. DeMarco – Hahn Loeser & Parks LLP
Richard S. Lauter – Lewis Brisbois Bisgaard & Smith LLP
James A. Lodoen – Spencer Fane LLP
Claire Ann Richman – Richman
& Richman LLC
Sheryl L. Toby – Dykema Gossett PLLC

New England
Chair: Jeffrey T. Varsalone – G2 Capital Advisors, LLC

New York Metro
Co-Chair: Marchand Boyd – Axos Bank
Co-Chair: Elyssa S. Kates – BakerHostetler

Rocky Mountain
Co-Chair: Annette W. Jarvis – Greenberg Traurig, LLP
Co-Chair: Lynne Long – Riveron Consulting, LLC

South
Chair: Kristina M. Johnson –
Jones Walker LLP
Laura Ashley – Jones Walker LLP
Craig M. Geno – Craig M. Geno, PLLC
James R. Irving – Dentons Bingham Greenebaum
Derek F. Meek – Burr & Forman LLP
Emily Taube – Burr & Forman LLP
Mary Tipton Thalheimer –
Rose Law Firm, PA

Southeast
Chair: Steven M. Berman – Shumaker, Loop & Kendrick, LLP
Terri L. Gardner – Gardner Law, PLLC
Neil C. Gordon – Arnall Golden Gregory LLP
Jerry Markowitz – Markowitz, Ringel, Trusty + Hartog, P.A.
Jennifer McLemore – Williams Mullen
Jennifer M. Meyerowitz – SAK Management Services, LLC
Edward J. Peterson, III – Stichter, Riedel, Blain & Postler, PA
Lynn Lewis Tavenner – Tavenner & Beran, PLC
Glenn Thompson – Hamilton Stephens Steele & Martin, PLLC

Texas & Southwest
Co-Chair: Jason S. Brookner – Gray Reed & McGraw, LLP
Co-Chair: Scott Van Meter – B. Riley Advisory Services
Jordan A. Kroop – Pachulski Stang Ziehl & Jones LLP
John D. Penn – Perkins Coie LLP
Thomas J. Salerno – Stinson LLP

West
Chair: Randye B. Soref – Polsinelli
Dawn Cica – Carlyon Cica Chtd.
Larissa Gotguelf – FTI Consulting, Inc.
Victor Owens – East West Bank