2007 Annual Report

Annual Report & 2007 ~ 2008 Calendar

American Bankruptcy Institute 2007 Annual Report Table of Contents Educational Programs.............................. November 2007 Legislative Activity.....................................December 2007 Endowment Fund and Research................. January 2008 Online Technology & Resources................ February 2008 Publications........................................................ March 2008 Membership..........................................................April 2008

Reginald W. Jackson President

John D. Penn Chair

John W. Ames President-Elect

Samuel J. Gerdano Executive Director

The American Bankruptcy Institute begins its second quarter century of service to our members from a strong foundation of accomplishment and ever faithful to its core missions of education, research and service.

ABI has long been a place where diverse professional disciplines can come together to exchange ideas, foster professional development and enhance understanding. ABI has been the vehicle for a generation of insolvency professionals to launch careers, build friendships and enrich lives.

In the News............................................................May 2008 Law Review............................................................June 2008 International Activity........................................... July 2008 Professional Development............................ August 2008 Finances..................................................... September 2008 Endowment Fund Contributors..................October 2008 2007–2008 Board of Directors................ November 2008 ABI Staff.......................................................December 2008 ABI Committees 2007 Partners

In this report, we acknowledge our significant achievements of the past year and – on behalf of our volunteer leaders and professional staff – renew our commitment to innovation and value. With the help of our nearly 12,000 members, our next 25 years will build on our past and contribute to an even more dynamic future. Please take this opportunity to become more involved in our work for the mutual benefit of the insolvency world.

2007

Educational Programs

2007 Annual Report Nearly 6,000 professionals attended ABI educational programs over the past 12 months, demonstrating that the Institute continues to be the leading provider of high-quality bankruptcy continuing legal and professional education. Nearly 700 attended the 2006 Winter Leadership Conference in Scottsdale, Ariz., and more than 1,000 attended the 2007 Annual Spring Meeting in Washington, D.C. ABI also sponsored 17 other on-site regional, local and specialty programs in the United States and abroad.

15th Annual Bankruptcy Battleground West

2007

12th Annual Southeast Bankruptcy Workshop

“The Great Debates” The Regent Beverly Wilshire Beverly Hills, California March 2, 2007 Bankruptcy Fundamentals: Nuts & Bolts for Young Professionals March 1, 2007

July 25–28, 2007 • The Sanctuary at Kiawah Island Kiawah Island, South Carolina

Stand Alone Program: Bankruptcy Fundamentals: Nuts & Bolts for Young and New Practitioners Friday, May 4, 2007 U.S. Bankruptcy Court, SDNY

The Institute celebrated its 25th anniversary at the Annual Spring Meeting with keynote speakers, former Attorney General and Senator John Ashcroft and Christopher Gardner, whose life story is the basis for the Hollywood hit movie, The Pursuit of Happyness. Key programs included a reprise of the Supreme Court’s Marrama argument and debates on sales under §363 and credit bidding by loan-to-own DIP lenders.

9th Annual New York City Bankruptcy Conference

2007

May 7, 2007 • New York City Millennium Broadway Hotel and Conference Center/Hudson Theater

Back by Popular Demand:

Northeast Consumer Forum July 12–14, 2007 Newport Marriott

For the first time, ABI partnered with the National Conference of Bankruptcy Judges to offer educational programs at the NCBJ’s annual conference in Orlando, Fla., on Oct. 12, 2007. The ABI programs were conducted in a workshop format, offering multiple simultaneous roundtable discussions on commercial and consumer developments. NCBJ and ABI plan to offer the same type of educational program at next year’s NCBJ conference in Scottsdale, Ariz.

2007

14th Annual Northeast Bankruptcy Conference July 12–15, 2007 • Newport, Rhode Island Newport Marriott

American Bankruptcy Institute and Georgetown University Law Center CLE present

2007

Bankruptcy 2007: Views from the Bench October 5, 2007 • Washington, D.C. Featuring 18 U.S. Bankruptcy Judges

Christopher Gardner inspired the attendees at the 2007 Annual Spring Meeting.

Special Feature:

Complex Financial Restructuring Program See inside for details on this in-depth one-day financial restructuring program

15th Annual Southwest Bankruptcy Conference

Former Attorney General and Senator John Ashcroft spoke on the national security challenges facing the United States.

September 6–8, 2007 • Las Vegas, Nevada Four Seasons Hotel

ABI Educational Programs (2006) Total Attendees

2007

Web-based and Live Programs

5,995 0

1,000

2,000

3,000

4,000

5,000

6,000

25th Annual Spring Meeting JW Marriott • April 12–15, 2007 • Washington, D.C.

2007

Legislative Activity

2007 Annual Report Over the past year, ABI continued to focus on implementation of BAPCPA in educational programs and publications. The second full year after the enactment of the new law continued to present many unique issues resulting in numerous opinions from the courts and requiring thoughtful analysis.

Authors updated ABI publications to incorporate changes under BAPCPA, and the ABI Journal published a three-part series of articles regarding the means test. Prominent experts in the field led sessions involving issues under BAPCPA at all ABI conferences.

In July, ABI voiced its support of S. 1638, the “Federal Judicial Salary Restoration Act of 2007,” to adjust the salaries of federal judges, including U.S. bankruptcy judges. While ABI is a nonprofit and nonpartisan organization that does not maintain a legislative advocacy agenda, it has consistently supported legislation that advances the administration of justice in the bankruptcy system.

In fall 2007, ABI Directors John Rao (National Consumer Law Center) and Bankruptcy Judge Eugene R. Wedoff (N.D. Ill.) testified on possible solutions to the home mortgage foreclosure crisis and oversight of the U.S. Trustee system, respectively.

John Rao

Hon. Eugene R. Wedoff

At the Annual Spring Meeting, Senator Dick Durbin (D-Ill.) presented an overview of the agenda for the 110th Congress to the conference attendees and a live national C-SPAN audience.

The House Subcommittee on Commercial and Administrative Law of the Committee on the Judiciary invited ABI member Michael L. Bernstein (Arnold & Porter) to testify at a Sept. 6 oversight hearing on labor law issues in bankruptcy.

ABI members voice their opinions on the impact of the new law via online polls at ABI World.

Latest Quick Poll Results

Supporters of BAPCPA can validly claim that the law is working as intended because new filings are now at their lowest levels since the mid-1980s.

Congress’ intent in BAPCPA’s anti-cramdown amendment was to protect creditors with purchase money security interests and therefore does not extend protection to non-purchase money security interests.

After BAPCPA, the right of reclamation under §546(c) is now exclusive by a matter of federal law, rather than a combination of federal and state law.

The takeover of the U.S. Congress by the Democrats means that BAPCPA will be amended.

70

70

70

60

60

60

60

50

50

50

50

40

40

40

40

30

30

30

20

20

66%

70

10

7%

11% 11%

0

5%

60%

16%

10 0

Agree Strongly

Agree Somewhat

3%

8%

12%

20 10

27%

26% 18%

24%

5%

20 10

17%

20% 20% 10%

0

0

Disagree Somewhat

33%

30

Disagree Strongly

Don’t Know/No Opinion

Endowment Fund and Research 2007 Annual Report

Since its creation in 1989, the ABI Endowment Fund has been a vital resource to enhance ABI’s mission of scholarly research and education. The Research Grant Committee solicits and receives proposals and makes decisions on projects for funding. ABI issued the first grant from the Endowment in 1998, and since then, it has awarded more than $750,000 in grants and scholarships.

Stephen Lubben

At the 2007 Winter Leadership Conference, ABI will reveal the multi-year empirical study of professional fees in chapter 11 cases, conducted by Prof. Stephen Lubben of Seton Hall University School of Law. In August, the ABI announced that the Endowment will fund a study of claims trading in large chapter 11 cases.

The Endowment also supports the Robert M. Zinman Resident Scholar program. Each Zinman Scholar is a leading member of the bankruptcy academic community on leave from full-time teaching to assist ABI with research and educational activities. The Fall 2007 scholar is Prof. Mark S. Scarberry of Pepperdine University School of Law, and the scholar for both 2008 semesters will be the first-returning scholar, Prof. Jack F. Williams of Georgia State University School of Law.

Sue Rinebold of Thomson West presented ABI President Reginald W. Jackson with a $10,000 gift for joint ABI/NCBJ educational programs.

In November 2006 and October 2007, Judge Joe Lee of Kentucky and Judge Alexander L. Paskay of Florida, respectively, received the first and second annual Judge William L. Norton Jr. Judicial Excellence Awards.

Publisher Thomson West and ABI jointly presented these awards at the National Conference of Bankruptcy Judges annual meeting.

Mark Scarberry

Jack Williams

Also during the past year, the Special Committee Consumer Protection and Education Fund (a.k.a. Sears Fund) awarded ABI a grant to assess the quality of credit counseling and debtor education. The New York-based Coalition for Debtor Education and Fordham University School of Law, led by Prof. Susan Block-Lieb, will design and execute the ABI study. This is ABI’s second award from the Sears Fund.

Endowment Fund Growth (contributions and pledges)

$464,000

$740,000

$1,162,000

$1,970,000 (through 6/25/2007)

1999

2001

2003

2007

1,200,000 900,000 600,000 300,000 0

2007 ~2008

Endowment Fund Development Committee

1,500,000

• Chair: Anthony H.N. Schnelling, Bridge Associates, LLC • Melyssa R. Barrett, Visa USA, Inc. • Howard Brod Brownstein, Nachman Hays Brownstein, Inc. • Norma Corio, JPMorgan Chase & Co. • William Q. Derrough, Jefferies & Company, Inc. • James S. Feltman, Mesirow Financial Consulting, LLC • Patricia A. Redmond, Stearns, Weaver, Miller et al.

• Chester Salomon, Stevens & Lee, PC • Joseph Samet, Baker & McKenzie LLP • Robert H. Warshauer, Kroll Zolfo Cooper

Online Technology & Resources 2007 Annual Report

ABI World continues to be the preeminent site on the Internet for bankruptcy information, and our home page is one of the first results when searching “bankruptcy” using the most popular Web search engines. There were an average of 150,000 visits per month to ABI World during the first nine months of 2007.

Content remains the priority at ABI World. Members have immediate Mark Berman and Joe Bodoff were honored at the Annual Spring Meeting by President Hon. Wes Steen (l-r) for their service on the access through ABI World, ABI electronic communications, and Website Editorial Board. partnerships with Dow Jones and BankruptcyData.com to daily headlines, recent developments, legislative news and court opinions. In striving to provide even more relevant and timely information to its members, ABI now provides monthly consumer filing statistics on its Web site through a cooperative agreement with the National Bankruptcy Research Center and Lundquist Consulting, Inc. Online technology also provides ABI members with a forum for discussion. ABI has 25 member committees, and each committee has a listserve that members can utilize to ask questions, discuss hot topics, and exchange other important information. ABI’s new Bankruptcy Blog Exchange is a free service to members, enabling insolvency professionals to easily follow approximately 25 insolvency-related national, regional and academic blogs.

ABI furthers its educational goals through online technology. In combination with WestLegalEdCenter, members have immediate access to the largest, most current collection of bankruptcy online CLE programs available on the Internet. ABI also offers Distance Learning online. Members may watch or listen to educational sessions from conferences and obtain CLE credit 24 - 7 - 365 for just $65 per session. ABI has over 200 such sessions online.

ABI podcasts feature conversations with some of the leading players in the insolvency world from the fields of law, accounting, finance, the judiciary and more. More than 40 podcasts are now available via webstream or download to MP3 players.

In 2007 ABI won a prestigious interactive media award from Horizon Interactive for its “Honoring the Founders” video. The documentary showcased the efforts of the original pioneers who created ABI in 1982. Members may still view the award-winning video online at ABI World.

Publications

2007 Annual Report

ABI continues to be the leader in high-quality publications of outstanding practical use for insolvency professionals. ABI’s flagship periodical, the ABI Journal, is published 10 times per year and mails to nearly 12,000 insolvency professionals, members of Congress and others. In 2008, ABI will offer an interactive version of the Journal on ABI World.

ABI also publishes numerous books, manuals and handbooks for the benefit of insolvency professionals. Some of the titles published over the past year include: • ABI’s Pension Manual, A Practical Guide to Pension Issues Arising in Business Bankruptcy Cases, a 300-page manual written by a team of experts focusing on the intersection between bankruptcy law and ERISA and incorporating BAPCPA and the new Pension Protection Act of 2006; • General Assignments for the Benefit of Creditors: the ABCs of ABCs, an update to the 2000 manual providing information on how general assignments are administered and the differences among the various state laws, written by Geoffrey L. Berman; • Bankruptcy in Practice, a fourth-edition treatise, revised for BAPCPA and new case developments, written by John D. Ayer and Michael L. Bernstein; • Bankruptcy and Its Impact on Intellectual Property, a 100-page handbook covering the basics of IP law, co-authored by Craig B. Young and Patricia S. Rogowski; • ABI’s Quick Evidence Handbook, a practical and highly accessible primer on the mechanics of admitting and excluding evidence in bankruptcy cases, written by Evan Slavitt; • Chapter 11 – “101”: The Essentials of Chapter 11 Practice, a compilation CD–Rom and expansion of a series of articles first written for the ABI Journal in 2004 and 2005 providing an essential fast read for new restructuring professionals, written by a group of seasoned chapter 11 professionals; and • ABI’s Bankruptcy Appeals Manual: Winning Your Bankruptcy Appeal, a complete desktop manual for practitioners providing comprehensive coverage of all the necessary references and practical guidance, written by Samuel R. Maizel and Jessica D. Gabel.

ABI’s 25 member committees publish regular e-newsletters that provide committee members with the latest news and information. The committees published more than 70 such newsletters in the last 12 months. Through the newsletters, members can become more involved and have more visibility. All newsletters are available to members online at ABI World.

Membership

2007 Annual Report During the past year ABI maintained its record membership roster at over 11,500 members, despite a 50 percent decline in bankruptcy filings and a sustained fall-off in commercial cases.

ABI also pursued several member initiatives over the past year. It continued the Ambassador Program, through which every new member at an ABI conference meets with an assigned “Ambassador” at the opening reception. The Ambassador introduces them to colleagues and helps to acclimate the new member to ABI benefits.

A new initiative is the Member Benefit Spotlight, which began appearing in the Journal in March. Each “Spotlight” highlights a specific service or product for members, providing details on how members can best benefit.

ABI continued its outreach to consumer practitioners with the inaugural 90-minute session “Consumer Bankruptcy in Practice: A Webinar Series.” The first topic was “Income, Expenses and Related Issues under BAPCPA, a Roundtable Discussion Featuring Debtor’s Counsel, the U.S. Trustee, Chapter 13 Trustee and the Bench.” ABI is making a concentrated effort to reach out to consumer bankruptcy attorneys to provide them with easy access to high-quality education and practical information.

Members have the opportunity to become actively involved through ABI’s 25 substantive committees, which conduct their own educational programs at the Annual Spring Meeting and Winter Leadership Conference. Each publishes an electronic newsletter, and members have numerous speaking and writing opportunities through the committees. Further, each committee has a listserve where members can exchange information and ideas in real time.

10-Year Membership Growth

Non- Attorney Members by Profession

(Membership numbers as of October 12, 2007)

9,881

12,000

7,003

5,960

8,000 6,000

9% 15%

5% 4%

8,417

10,000

7%

11,535

11,371

14,000

15% 22% 12%

4,000 2,000

20 03 20 05 20 07

01 20

9 19 9

19

97

0

11%

Accountant Consultant Financial Services Government Investment Banker Judge Student Turnaround Professional Other

In the News

2007 Annual Report ABI remains a leading source for the news media on all insolvency topics. On average, the press cites ABI more than 90 times a month. During the first eight months of 2007, ABI issued 73 press releases – an increase of more than 20 percent for the same period in 2006.

The implementation and effects of BAPCPA, as well as the bankruptcies in the U.S. automotive and airline industries, continued to be a primary focus in the news. The media spotlight has shifted to the subprime mortgage crisis, including the credit crunch in the private-equity markets. The media coverage and congressional scrutiny of this crisis will carry over into in 2008. In an effort to reach out to and educate the press on this important topic, ABI conducted an informational press-only webinar in September with prominent experts as panelists.

ABI’s Annual Spring Meeting received considerable media attention this year.

C-SPAN covered select programming, including live coverage of Senator Richard Durbin’s speech and the legislative session that followed. Further, the Associated Press, Bloomberg News and Dow Jones Newswires, as well as trade publications such as BNA’s Bankruptcy Law Reporter and Bankruptcy Court Decisions, also provided coverage.

In January, ABI conducted a press webinar on the outlook for the new 110th Congress. The May ABI Journal article “Aging and Bankruptcy: The Baby Boomers Meet Up at Bankruptcy Court” garnered more than 20 media hits in just two months. Upon the release of the Endowment-funded study by Dr. Richard Wiener regarding the effect of enhanced credit disclosures on consumers’ purchasing habits, ABI issued a press release and held a media conference call. This resulted in a major story in the Wall Street Journal.

ABI Resident Scholar Prof. David Skeel appeared as a guest on the “Law Journal” weekly television program on Oct. 8, 2006.

The show covered new developments under BAPCPA.

Law Review

2007 Annual Report

The American Bankruptcy Institute Law Review is the nation’s largestcirculation bankruptcy law journal. Top students at St. John’s University School of Law edit it, and Thomson West publishes it semi-annually. An advisory board of three dozen bankruptcy judges, scholars and practitioners help to plan theme issues, edit articles and assist in the production of each issue. Prof. G. Ray Warner of St. John’s University School of Law serves as the board chair and faculty adviser.

2006-07 Student Editor-in-Chief Jon Finelli received the annual Law Review Scholarship from Prof. G. Ray Warner at the Annual Spring Meeting.

The Law Review continued to be on the leading edge of the law in the last year.

The Winter 2006 issue featured five open-issue pieces, including a 90-page article on an important hot consumer topic under BAPCPA – “Cars and Homes in Chapter 13 after the 2005 Amendments to the Bankruptcy Code” authored

by David Gray Carlson, a professor at the Benjamin N. Cardozo School of Law. The issue also includes an LL.M. thesis on substantive consolidation and one student comment.

The Spring 2007 issue featured an in-depth symposium on federalism and bankruptcy with six pieces by some of bankruptcy law’s preeminent authorities.

The symposium discussed the many issues needing resolution following the Supreme Court’s Katz opinion, including the current and future dimensions of federal supremacy and state sovereignty. It also included two excellent openissue pieces and two scholarly student notes.

In September, the Law Review cosponsored a program on “The Future of Labor Through the Prism of Bankruptcy.” The symposium brought together leading thinkers in the labor and bankruptcy fields to explore the fundamental change of organized labor in the bankruptcy context, as the nation’s major “legacy” industries experience the restructuring process. This symposium will be the centerpiece of the Winter 2007 issue.

Law Review Advisory Board Prof. G. Ray Warner (chair) Lawrence R. Ahern III Hon. Randolph Baxter Mark Berman Prof. Jean Braucher Jo Ann J. Brighton Prof. Ralph Brubaker G. Eric Brunstad Jr. Prof. Daniel J. Bussel Prof. Marianne B. Culhane

Douglas E. Deutsch Hon. Dennis Dow Jonathan P. Friedland Prof. Christopher W. Frost Hon. Rosemary Gambardella Prof. Gregory Germain Christopher F. Graham Prof. John P. Hennigan Prof. Margaret Howard Dillon E. Jackson

Prof. Ted Janger David R. Kuney Prof. Robert M. Lawless Joel Levitin Prof. Juliet Moringiello Robin E. Phelan Patricia A. Redmond Hon. Barry Russell Prof. Mark S. Scarberry George H. Singer

Hon. James Starzynski Hon. Wesley W. Steen Prof. Charles Jordan Tabb Hon. Eugene R. Wedoff Prof. Jay L. Westbrook Prof. Mary Jo Wiggins Prof. Todd J. Zywicki

International Activity

2007 Annual Report Globalization continues to have a noticeable impact on the insolvency world. ABI recognizes the resulting need for clear communication and shared experiences and thus provides a number of tools, resources and educational programs to help insolvency professionals worldwide meet the needs of clients and stakeholders. Over the past year, ABI initiatives reached from South America to Europe and Asia.

ABI’s international membership now stands at more than 300 from 30 different nations.

International members outside North America are eligible for a special $95 reduced rate on an “e-membership.” E-members have access to all member benefits and publications electronically rather than having paper copies delivered by mail. This allows international members to receive information in a more timely and cost-effective manner.

ABI held its annual Caribbean Insolvency Symposium in Puerto Rico in February 2007 with a record attendance of nearly 200. There were dynamic speakers on a range of commercial and consumer topics, including cross-border claims litigation, chapter 15 issues, consumer practice views from a panel of judges, the effect of hedge fund failures and more.

In Europe, ABI held its Third International Insolvency Symposium in Berlin, bringing together top international speakers to discuss the issues of the moment in international insolvency and restructuring. Topics included the German perspective on the automotive industry and the facts and fiction of hedge funds.

ABI also offered a webinar entitled “China’s New Enterprise Bankruptcy Law.” More than 70 participants attended online to learn more about China’s new bankruptcy law, which went into effect on June 1. The webinar presented the essential elements of the new law that are sure to have a profound effect on business in China – a country poised to be the world’s largest exporter.

ABI President-Elect and Vietnam veteran John W. Ames spoke before the Vietnam Chamber of Commerce and Industry on U.S. bankruptcy principles.

ABI plans more outreach to Southeast Asia in the future.

Representatives of NCBJ’s International Committee and Brazil’s Association of Restructuring Professionals met with ABI leaders in San Francisco last fall to discuss plans for a joint educational conference, held in September in São Paulo, Brazil.

Professional Development

2007 Annual Report ABI maintains a strong commitment to developing the next generation of insolvency professionals. More than 200 law students are ABI members, enjoying full membership benefits at a reduced rate. They also receive a reduced rate for their first two years after graduation.

Over the past year ABI continued its new initiative of providing formal training programs to bankruptcy judicial law clerks. The programs combine both live and taped educational sessions taught by expert faculty. ABI partnered with Pepperdine University School of Law to sponsor the participation of 12 bankruptcy clerks at the school’s Judicial Clerkship Institute. In October, ABI and the Federal Judicial Center partnered to broadcast on the FJC’s Federal Judicial Television Network a live interactive event to clerks across the nation.

The 15th Annual Chief Judge Conrad B. Duberstein National Bankruptcy Memorial Moot Court Competition attracted nearly 50 teams in March in New York City. Brooklyn Law School prevailed as the top team, and Mississippi College School of Law earned second place. ABI’s co-sponsor was St. John’s University School of Law. A record crowd of more than 850 attended the final-night awards dinner at Pier 60 in Manhattan. The competition honors the memory of the late Judge Duberstein, a former member of the ABI Board of Directors and the Chief Bankruptcy Judge of the Eastern District of New York.

More than two dozen bankruptcy judges from around the nation participated as judges for the quarter-final and semi-final rounds through an arrangement with the National Conference of Bankruptcy Judges.

Acting Dean William E. Adams, Jr. presented Nichole Johnson of Nova Southern University Shepard Broad Law Center with the ABI Medal of Excellence.

Twelve of the nation’s top graduate business schools competed in the Third Annual ABI Corporate Restructuring Competition, co-sponsored by Houlihan Lokey and held in Chicago in January 2007. Northwestern University’s Kellogg School of Management won the beautiful Bettina M. Whyte Trophy, named in honor of an ABI past president. Kellogg edged out Duke University’s Fuqua School of Business, which took second place. Third and fourth places went to the University of California-Berkeley Haas School of Business and Stanford University Graduate Business School. The competition encourages second-year MBA students to find creative solutions to a real-world complex case problem, while providing them with feedback from some of the top talent in the corporate recovery world who serve as the judges.

Prof. Tim Thompson (l) and Prof. Jim Shein (r) of the Kellogg School of Management flank student winners Rob Demstra, Karn Chopra, Jason Manel and David Buchenek (l-r).

Eleven bankruptcy law clerks from around the nation (pictured with Judges Steen and Hopkins) attended the Judicial Clerkship Institute as ABI guests.

Winners of the 2007 Moot Court Competition pose with (l-r) ABI President-Elect Reginald W. Jackson, winner Ann C. Bucos, Judge Duberstein’s daughter Elyse Bellesakos, winner Robert J. Sitman, Hon. Marjorie Rendell (3d Cir.) and ABI President Hon. Wesley W. Steen.

Finances

2007 Annual Report October 3, 2007 Dear ABI Members: The American Bankruptcy Institute sustained its strong financial position during the calendar year 2006, increasing its net assets by almost $550,000. This healthy growth of funds will permit ABI to continue to provide the highest quality and varied programs for its current and future members.

In the second annual audit of ABI performed by Aronson & Company, an audit firm specializing in nonprofit organizations, ABI was issued an unqualified “clean report” in conformity with general accepted accounting principles. The auditors found no matters involving internal controls and operations that were considered to be material weaknesses. In addition, they noted that the balance sheet reflected “healthy but not excessive” levels of reserves.

Respectfully submitted, Rebecca Roof Treasurer John Tittle, Jr. Audit Subcommittee Chair

2% 3% 14% 52%

Revenue from source Conferences and Meetings Membership Dues Publications and Other Endowment Investments

American Bankruptcy Institute Statement of Financial Position ASSETS December 31, 2006 December 31, 2005 Cash and cash equivalents

$288,946

$83,760

Investments

6,415,568

5,659,554

Accounts receivable, net

221,636

200,102

Prepaid and other assets

352,707

349,241

Pledges receivable, net

156,694

64,145

Property and Equipment, net

228,412

354,664

Deposits

24,368

24,368

TOTAL ASSETS

$7,688,331

$6,735,834

Accounts payable and accrued expenses

$870,739

$747,461

Deferred revenue

2,158,879

1,875,759

Total Liabilities

3,029,618

2,623,220

LIABILITIES AND NET ASSETS

29%

Total Net Assets

ABI’s Dramatic Growth reflects a healthy balance sheet

Liabilities:

$244,700

1996

$493,049

1997

$768,266

1998

Net assets: Unrestricted

1999

Undesignated

2,806,490

2,611,675

Board designated endowment

1,680,717

1,433,149

4,487,207

4,044,824

Temporarily restricted

171,506

67,790

2003

Total net assets

4,658,713

4,112,614

2004

TOTAL LIABILITIES AND NET ASSETS

$7,688,331

$970,749 $1,344,459

2000

$1,615,788

2002

$2,143,323 $2,618,846

2005

$4,112,614 $4,658,713

2006 $0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

Endowment Fund Contributors 2007 Annual Report

Through September 28, 2007

Century Council Members ($25,000 and above)

• AlixPartners LLC Jay Alix • Scott L. Baena Bilzin Sumberg Baena Price & Axelrod, LLP • William A. Brandt, Jr. Development Specialists, Inc. • Bridge Associates, LLC Anthony H.N. Schnelling & Carl H. Young, III • John William Butler, Jr. Skadden, Arps, Slate, Meagher & Flom, LLP • L.E. Creel III Creel & Moore, LLP • Robert N. Dangremond AlixPartners LLC • Harry D. Dixon, Jr. • Keen Consultants LLC Harold J. Bordwin • National Auctioneers Association Robert A. Shively • John Tittle, Jr. Stout Risius Ross, Inc. • Visa USA, Inc. • Bettina M. Whyte

Lifetime Members ($10,000-$24,999)

• Gregory S. Abrams A.S.K. Financial LLP • Andersen • Ballard Spahr Andrews & Ingersoll, LLP Tobey M. Daluz, Carl A. Eklund and Vincent J. Marriott III • Becket & Lee LLP • Gerald P. Buccino Buccino & Associates, Inc. • Clear Thinking Group LLC Joseph E. Myers • Mitchell H. Cohen Gordon Brothers Group, LLC • James H. Cossitt Attorney & Counselor at Law • Sanford R. Edlein Glass & Associates, Inc. • Ford Elsaesser Elsaesser, Jarzabek, Anderson, Marks, Elliott & McHugh, Chtd.

• Barbara A. Everly • James S. Feltman Mesirow Financial Consulting LLC

• Ted Gavin NachmanHaysBrownstein, Inc. • Steven G. Golick Osler, Hoskin & Harcourt, LLP • Greater Kansas City Community Foundation o/b/o the Thau Family Trust • High Ridge Partners, Inc. Nancy A. Ross • The Hilco Organization • Executive Sounding Board Associates, Inc. Martin I. Katz • James B. Matthews CRG Partners LLP • McDonald Hopkins Co., LPA Shawn M. Riley • J. Robert Medlin FTI Consulting, Inc. • Leslie H. Miles, Jr. Asset Valuation Source, LLC • MorrisAnderson & Associates, Ltd. Daniel F. Dooley • NachmanHaysBrownstein, Inc. Howard Brod Brownstein • Robert P. Reynolds Reynolds, Reynolds & Duncan, LLC • Michael P. Richman Foley & Lardner LLP • Thomas J. Salerno Squire, Sanders & Dempsey, LLP • Chester B. Salomon Stevens & Lee PC • Jack Seward • James Patrick Shea Shea & Carlyon, Ltd. • Togut, Segal & Segal LLP Albert Togut • Wells Fargo Foothill Scott R. Diehl • Prof. Robert M. Zinman St. John’s Univ. School of Law

Benefactors

($5,000-$9,999)

• John W. Ames Greenebaum Doll & McDonald PLLC • Arent Fox LLP Andrew I. Silfen • Atlas Partners, LLC Roger “Biff” Ruttenberg • Berman PLC Steven M. Berman • Joseph S.U. Bodoff Bodoff & Associates • Edward P. Bond Bederson & Company, LLP

• C.R. “Chip” Bowles, Jr. Greenebaum Doll & McDonald PLLC • Paul Bennett Bran Dickstein Shapiro, LLP • Eric L. Brossman Saul Ewing LLP • Richard P. Carmody Adams and Reese LLP • George B. Cauthen Nelson Mullins Riley & Scarborough, LLP • Hon. Leif M. Clark U.S. Bankruptcy Court • Cohn, Whitesell & Goldberg LLP Daniel C. Cohn • H. Slayton Dabney King & Spalding LLP • William Q. Derrough Jefferies & Company, Inc. • Dickinson & Warren, CPA, LLP Daniel F. Gosch • Michael J. Epstein CRG Partners • Robert M. Fishman Shaw, Gussis, Fishman, Glantz, Wolfson & Towbin, LLC • Dion W. Hayes McGuireWoods LLP • Philip J. Hendel Hendel & Collins, PC • Kenneth C. Henry RTL Advisory Group, Inc. • Reginald W. Jackson Vorys, Sater, Seymour & Pease LLP • Hon. Lee M. Jackwig U.S. Bankruptcy Court • Douzglas Jessop Jessop & Company, PC • Jones Day • Peter S. Kaufman Gordian Group, LLC • George M. Kelakos Crystal Capital • William I. Kohn Benesch, Friedlander, Coplan & Aronoff, LLP • Andrew A. Kress Kaye Scholer LLP • E. Bruce Leonard Cassels Brock & Blackwell, LLP • Martin F. Lewis Rhone Group Advisors • David Linn Oak Point Partners • Hon. Raymond T. Lyons U.S. Bankruptcy Court • James T. Markus Block, Markus & Williams, LLC • David S. Miller Macquarie Holdings (USA)

• Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC Richard Mikels • Jill L. Murch Foley & Lardner LLP • Novare, Inc., An Epiq Systems Company Jack B. Fishman and Anne B. Miller • David L. Osias Allen Matkins Leck Gamble Mallory Natsis LLP • The Ozer Group/Paragon Capital LLC • Daniel H. Puryear Smythe & Puryear • Dawn Ragan XRoads Solutions Group • Craig V. Rasile Hunton & Williams LLP • Patricia A. Redmond Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA • Rebecca A. Roof AlixPartners LLP • Joseph Samet Baker & McKenzie LLP • Keith J. Shapiro Greenberg Traurig, LLP • William K. Snyder CRG Partners • James H.M. Sprayregen Goldman Sachs & Co. • Stutman, Treister & Glatt, PC Michael H. Goldstein • Troy Taylor Algon Capital LLC • Harvey L. Tepner Compass Advisers, LLP • Richard N. Tilton Richard Tilton, P.C. • J. Scott Victor Special Situations Group/SSG of NatCity Investment Banking • Prof. G. Ray Warner St. John’s University/ Of Counsel, Greenberg Traurig, LLP • Robert H. Warshauer Kroll Zolfo Cooper • Ian G. Williams Geldards LLP • Prof. Jack F. Williams Georgia State University/ BDO Seidman LLP • Deborah Williamson Cox Smith Matthews Inc.

2007–2008 Board of Directors 2007 Annual Report

• John D. Penn † Chairman Haynes and Boone LLP Fort Worth, Texas • Hon. Wesley W. Steen † Immediate Past-President U.S. Bankruptcy Court Houston, Texas • Reginald W. Jackson † President Vorys, Sater, Seymour and Pease LLP Columbus, Ohio • John W. Ames † President-Elect Greenebaum, Doll & McDonald PLLC Louisville, Ky. • Geoffrey L. Berman † Vice President-Publications Development Specialists Inc. Los Angeles, Calif.

• Robert J. Keach † Vice President-Education Bernstein Shur Portland, Maine • Melissa Kibler Knoll † Vice President-Membership Mesirow Financial Consulting LLC Chicago, Ill. • Josefina Fernandez McEvoy † Vice President-International K&L Gates LLP Los Angeles, Calif.

• Hon. Steven W. Rhodes † Vice President-Research Grants U.S. Bankruptcy Court Detroit, Mich.

• Anthony H.N. Schnelling † Vice President-Development Bridge Associates LLC New York, N.Y. • Rebecca A. Roof † Treasurer AlixPartners LLC New York, N.Y. • Hon. Eugene R. Wedoff † Secretary U.S. Bankruptcy Court Chicago, Ill. • Peter J. Antoszyk Proskauer Rose LLP Boston, Mass.

• Melyssa R. Barrett Visa USA Inc. San Francisco, Calif.

• Matthew Bordwin Keen Consultants, LLC Great Neck, N.Y. • C.R. “Chip” Bowles Jr. Greenebaum, Doll & McDonald PLLC Louisville, Ky. • Howard Brod Brownstein NachmanHaysBrownstein, Inc. Narberth, Pa. • Prof. Ralph E. Brubaker † University of Illinois College of Law Champaign, Ill. • Rudy J. Cerone McGlinchey Stafford, PLLC New Orleans, La. • Francis J. Conway Mercer Management Consulting New York, N.Y. • Norma C. Corio JPMorgan Chase New York, N.Y. • William Q. Derrough Jefferies & Company, Inc. New York, N.Y. • Hon. Dennis R. Dow U.S. Bankruptcy Court Kansas City, Mo. • Mitchell E. Drucker CIT Corporate Finance New York, N.Y. • Sanford R. Edlein Glass & Associates Inc. Dallas, Texas • Hon. Joan N. Feeney U.S. Bankruptcy Court Boston, Mass.

• James S. Feltman Mesirow Financial Consulting, LLC Miami, Fla. • Hon. Judith K. Fitzgerald U.S. Bankruptcy Court Pittsburgh, Pa. • Jonathan P. Friedland Schiff Hardin LLP Chicago, Ill. • Hon. James D. Gregg U.S. Bankruptcy Court Grand Rapids, Mich.

• Bruce A. Harwood Sheehan, Phinney, Bass + Green Manchester, N.H. • Prof. Margaret Howard Washington & Lee Law School Lexington, Va.

• Dillon E. Jackson Foster Pepper PLLC Seattle, Wash.

• Peter S. Kaufman Gordian Group LLC New York, N.Y. • George M. Kelakos Crystal Capital Stamford, Conn.

• Jean Maess Thomson West Rochester, N.Y. • James T. Markus † Block, Markus & Williams LLC Denver, Colo.

• J. Robert Medlin FTI Consulting, Inc. Dallas, Texas • Bruce S. Nathan Lowenstein Sandler PC New York, N.Y. • Nancy A. Peterman Greenberg Traurig LLP Chicago, Ill. • Jeffrey N. Pomerantz Pachulski, Stang, Ziehl, Young, Jones & Weintraub PC Los Angeles, Calif.

• John Rao National Consumer Law Center Boston, Mass.

• Patricia A. Redmond † Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA Miami, Fla. • Claire Ann Resop Brennan, Steil & Basting, SC Madison, Wis. • Michael P. Richman Foley & Lardner LLP New York, N.Y. • Hon. Linda B. Riegle U.S. Bankruptcy Court Las Vegas, Nev. • Robert J. Rosenberg Latham & Watkins, LLP New York, N.Y. • Chester B. Salomon Stevens & Lee, PC New York, N.Y. • Joseph Samet Baker & McKenzie LLP New York, N.Y.

• Tracy C. Sandler Osler, Hoskin & Harcourt LLP Toronto, Ont. • Sandra L. Schirmang Kraft Foods Global, Inc. Northfield, Ill. • Brian L. Shaw Shaw Gussis Fishman Glantz Wolfson & Towbin LLC Chicago, Ill. • James Patrick Shea † Shea & Carlyon Ltd. Las Vegas, Nev. • Lynn Lewis Tavenner Tavenner & Beran, PLC Richmond, Va. • Deborah L. Thorne Barnes & Thornburg LLP Chicago, Ill. • John Tittle Jr. Stout Risius Ross, Inc. Chicago, Ill. • Lynnette R. Warman Hunton & Williams LLP Dallas, Texas • Robert H. Warshauer Kroll Zolfo Cooper, LLC New York, N.Y. • Ian G. Williams Geldards LLP Nottingham, England • R. Scott Williams Haskell Slaughter Young & Rediker, LLC Birmingham, Ala. Samuel J. Gerdano Executive Director Alexandria, Va. † Denotes Executive Committee Member

ABI Staff

2007 Annual Report

Samuel J. Gerdano, Executive Director/Chief Operating Officer Felicia S. Turner, Deputy Executive Director Mary Kleppinger, Director of Administration Felicia S. Turner

Mary Kleppinger

Accounting Department Kathy Sheehan, Chief Financial Officer Patty Sadusky, Accounting Manager Alexandra Walker, Staff Accountant Monica Brown, Staff Accountant Pawel Pietrzak, Staff Accountant

Communications Department Carolyn M. Kanon, Director of Communications Courtney Reyers, Communications Manager John Hartgen, Public Affairs Manager Patrick J. McGrath, Graphic Designer Thomas Borak, Communications Assistant Patricia Lewis, Publications Coordinator/Staff Assistant

Pawel Pietrzak, Monica Brown, Alexandra Walker, Kathy Sheehan and Patty Sadusky

Interactive Media & Technology Department Karim Guirguis, Director of Interactive Media & Technology Matthew Lukban, Multimedia Specialist Robel Kassa, Web Specialist Carrie Soults, Web Specialist

Membership Department Christopher S. Thackston, Director of Membership Kimberly Hay, Membership Retention Manager Amy Aunchman, Membership Services Manager Larissa Mendes, Membership Assistant

Courtney Reyers, Patricia Lewis, John Hartgen, Patrick J. McGrath, Thomas Borak and Carolyn M. Kanon

Meetings and Marketing Department Jennifer Dugas, Senior Meeting Planner John Good, Meeting Planner Jennifer Aversano, Meeting Planner Shannon Nelligan, Meeting Planner Sharisa Sloan, Marketing Manager Rhonda Garrett, CLE Coordinator/Staff Assistant Karim Guirguis, Carrie Soults, Robel Kassa and Matthew Lukban

Larissa Mendes, Amy Aunchman, Christopher S. Thackston and Kimberly Hay

Sharisa Sloan, Rhonda Garrett, John Good, Shannon Nelligan, Jennifer Aversano and Jennifer Dugas

ABI Committees

2007 Annual Report

Alternative Dispute Resolution Co-Chairs

Barbara J. Houser U.S. Bankruptcy Court 1100 Commerce St, Suite 1254 Dallas, TX 75242-1305 (214) 753-2055 (214) 753-2057 judge_barbara_houser@txnb.uscourts.gov

John Tittle, Jr. Stout Risius Ross, Inc. 245 Park Ave, 39th Floor New York, NY 10167 (212) 792-4092 (866) 430-6183 jtittle@srr.com

Business Reorganization Co-Chairs

Faye Knowles Fredrikson & Byron, PA 200 S 6th St, Suite 4000 Minneapolis, MN 55402-1431 (612) 492-7054 (612) 492-7077 fknowles@fredlaw.com

Jo Ann J. Brighton Kennedy Covington Lobdell & Hickman, LLP 214 N Tryon St, Suite 4700 Charlotte, NC 28202-2367 (704) 331-5793 (704) 353-3633 jbrighton@kennedycovington.com

Asset Sales

Bradley D. Sharp Development Specialists, Inc. 333 S Grand Ave, Suite 4070 Los Angeles, CA 90071-1544 (213) 617-2717 (213) 617-2718 bsharp@dsi.biz

Co-Chairs

Weston Anson CONSOR Intellectual Asset Management 7342 Girard Ave, Suite 8 La Jolla, CA 92037-5159 (858) 454-9091 (858) 454-7819 wanson@consor.com David Peress Crystal Capital Fund Management, LLC Two International Place, 17th Floor Boston, MA 02110 (617) 428-8703 (617) 428-8701 dperess@crystalcapital.com

Bankruptcy Litigation Co-Chairs

Mark M. Maloney King & Spalding LLP 1180 Peachtree St Atlanta, GA 30309-3531 (404) 572-4857 (404) 572-5149 mmaloney@kslaw.com Barry Russell U.S. Bankruptcy Court Edward R. Roybal Federal Bldg 255 E Temple St, Suite 1660 Los Angeles, CA 90012 (213) 894-6091 barry_russell@cacb.uscourts.gov

Bankruptcy Taxation Co-Chairs

David Howard Stein Wilentz, Goldman & Spitzer, PC 90 Woodbridge Center Dr, Suite 900 PO Box 10 Woodbridge, NJ 07095 (732) 855-6126 (732) 726-6570 dstein@wilentz.com

Commercial Fraud Task Force Co-Chairs

Francis A. Monaco, Jr. Womble Carlyle Sandridge & Rice PLLC 222 Delaware Ave, Suite 1501 Wilmington, DE 19801 (302) 252-4640 (302) 661-7730 fmonaco@wcsr.com Jack Seward 12 Oaks Ave Flanders, NY 11901-4026 (917) 450-9328 (212) 656-1486 jackseward@msn.com Sheryl L. Toby Dykema Gossett PLLC 400 Renaissance Ctr Detroit, MI 48243-1502 (248) 203-0522 (248) 203-0763 stoby@dykema.com

Consumer Bankruptcy Co-Chairs

Dennis J. LeVine Dennis LeVine & Associates, PA PO Box 707 Tampa, FL 33601 (813) 253-0777 (813) 253-0975 dennis@bcylaw.com John Rao National Consumer Law Center 77 Summer St, 10th Floor Boston, MA 02110-1006 (617) 542-8010 (617) 542-8028 jrao@nclc.org

Thomas F. Waldron 7792 South Galileo Ln Tucson, AZ 85747 thomas_waldron@ohsb.uscourts.gov

Court Administration Co-Chairs

Cecelia G. Morris U.S. Bankruptcy Court 176 Church St Poughkeepsie, NY 12601-4165 (845) 452-3728 (845) 452-5031 cecelia_morris@nysb.uscourts.gov Kelly Beaudin Stapleton Office of the U.S. Trustee 833 Chestnut St, Suite 500 Philadelphia, PA 19107 (215) 597-4411 (215) 597-5795 kelly.b.stapleton@usdoj.gov

Employee Benefits in Bankruptcy Co-Chairs

Carol Connor Cohen Arent Fox LLP 1050 Connecticut Ave NW, Suite 500 Washington, DC 20036-5303 (202) 857-6054 (202) 857-6395 cohen.carol@arentfox.com Jeffrey B. Cohen Ivins, Phillips & Barker 1700 Pennsylvania Ave NW, Suite 600 Washington, DC 20006-4723 (202) 393-7600 (202) 393-7601 jcohen@ipbtax.com Charles M. Dyke Thelen Reid Brown Raysman & Steiner LLP 101 Second St, Suite 1800 San Francisco, CA 94105-3659 (415) 369-7206 (415) 371-1211 cmdyke@thelenreid.com

Ethics Co-Chairs

Terri L. Gardner Poyner & Spruill LLP PO Box 10096 Raleigh, NC 27605 (919) 783-1037 (919) 783-1075 tgardner@poynerspruill.com Richard M. Meth Day Pitney LLP PO Box 1945 Morristown, NJ 07962 (973) 966-8319 (973) 966-1015 rmeth@daypitney.com

Financial Advisors Co-Chairs

Stephen S. Gray CRG Partners 2 Atlantic Ave, 4th Floor Boston, MA 02110 (617) 482-4242 (617) 482-9804 ssg@trgusa.com David M. Powlen Western Reserve Partners LLC 200 Public Sq, Suite 3750 Cleveland, OH 44114-2321 (317) 727-2211 (216) 589-9558 dpowlen@wesrespartners.com Gerald A. Shapiro CRG Partners 57 Vista Rd Wilton, CT 06897 (917) 863-1505 (203) 761-1186 gerald.shapiro@crgpartners.com

Finance and Banking Co-Chairs

Mark D. Collins Richards, Layton & Finger, PA 1 Rodney Sq 920 N King St Wilmington, DE 19801-1243 (302) 651-7531 (302) 651-7701 collins@rlf.com Jeff J. Marwil Winston & Strawn LLP 35 W Wacker Dr Chicago, IL 60601 (312) 558-3714 (415) 591-1400 jmarwil@winston.com Suzanne S. Yoon CIT National Restructuring Group 30 S Wacker Dr, 30th Floor Chicago, IL 60606-7459 (312) 906-5748 suzanne.yoon@cit.com

Health Care Co-Chairs

William W. Kannel Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 1 Financial Ctr Fl 39 Boston, MA 02111-2641 (617) 348-1665 (617) 542-2241 wkannel@mintz.com Suzanne Koenig SAK Management Services, LLC 4055 W Peterson Ave, Suite 101 Chicago, IL 60646-6072 (773) 202-0000 (773) 267-0111 skoenig@sakmgmt.com

International Co-Chairs

Luis Salazar Greenberg Traurig, LLP 1221 Brickell Ave Miami, FL 33131-3224 (305) 579-0751 (305) 579-0717 salazarl@gtlaw.com Sandy Shandro University College London Bentham House Endsleigh Gardens London, England WC1H 0EG +44 (0)20 7679 1000 +44 (0)20 7679 1424 sandy.shandro@ucl.ac.uk Ronald J. Silverman Bingham McCutchen LLP 399 Park Ave New York, NY 10022 (212) 705-7868 (212) 508-1407 ronald.silverman@bingham.com

Investment Banking Co-Chairs

James D. Decker Alvarez & Marsal 3399 Peachtree Rd NE, Suite 1900 Atlanta, GA 30326-2836 (404) 260-4103 (404) 260-4090 jdecker@alvarezandmarsal.com

George C. Paine, II U.S. Bankruptcy Court 218 Customs House 701 Broadway Nashville, TN 37203-3944 (615) 736-5587 (615) 736-2716 george_paine@tnmb.uscourts.gov

Geoffrey Groshong Miller Nash LLP 601 Union St, Suite 4400 Seattle, WA 98101-1367 (206) 777-7419 (206) 622-7485 geoff.groshong@millernash.com

Mass Torts

Co-Chairs

Co-Chairs

Richard Cohen The Garden City Group, Inc. 1792 Bell Tower Ln, Suite 101 Weston, FL 33326-3682 (954) 315-3698 (954) 315-3699 rich.cohen@gardencitygroup.com Judith K. Fitzgerald U.S. Bankruptcy Court 600 Grant St, Suite 5490 US Steel Twr Pittsburgh, PA 15219 (412) 644-3541 (412) 644-5448 judge_judith_fitzgerald@pawb.uscourts.gov Theodore L. Freedman Kirkland & Ellis LLP 153 E 53rd St Citigroup Ctr New York, NY 10022 (212) 446-4934 (212) 446-5980 tfreedman@kirkland.com

J. Scott Victor National City Capital Markets Five Tower Bridge, Suite 420 300 Barr Harbor Drive West Conshohocken, PA 19428 (610) 940-5802 (610) 940-3875 jscott.victor@nationalcity.com

David B. Wheeler Moore & Van Allen, PLLC 40 Calhoun St, Suite 300 Charleston, SC 29401-3532 (843) 579-7015 (843) 579-8727 davidwheeler@mvalaw.com

Law School

Co-Chairs

Co-Chairs

Christopher F. Graham Thacher Proffitt & Wood, LLP 2 World Financial Ctr New York, NY 10281-1008 (212) 912-7669 (212) 912-7751 cgraham@tpw.com Robert M. Zinman St. John’s University School of Law 8000 Utopia Pkwy Queens, NY 11439 (718) 990-6646 (718) 990-2199 zinmanr@stjohns.edu

Legislation Co-Chairs

David W. Houston U.S. Bankruptcy Court Thad Cochran U.S. Bankruptcy Courthouse 703 Hwy 145 N Aberdeen, MS 39730-9569 (662) 369-2624 (662) 369-2635 david_houston@msnb.uscourts.gov

Professional Compensation T. Edward Malpass Law Offices of T. Edward Malpass 901 Dove St, Suite 120 Newport Beach, CA 92660-3018 (949) 474-9944 (949) 474-9947 temalpass@aol.com Thomas A. Morrow AlixPartners LLP 2000 Town Ctr, Suite 2400 Southfield, MI 48075-1250 (248) 358-4420 (248) 358-1969 tmorrow@alixpartners.com

Public Companies & Claims Trading H. Slayton Dabney, Jr. King & Spalding LLP 1185 Avenue of The Americas New York, NY 10036-2601 (212) 556-2287 (212) 556-2222 sdabney@kslaw.com

Real Estate Alec P. Ostrow Stevens & Lee, PC 485 Madison Ave Fl 20 New York, NY 10022-5813 (212) 537-0402 (212) 319-8505 apo@stevenslee.com Berry D. Spears Fulbright & Jaworski LLP 600 Congress Ave, Suite 2400 Austin, TX 78701-2978 (512) 536-5246 (512) 536-4598 bspears@fulbright.com John F. Young Block, Markus & Williams, LLC 1700 Lincoln St, Suite 4000 Denver, CO 80203-4540 (303) 830-0800 (303) 830-0809 jyoung@bmwllc.com

Technology and Telecommunication Cases Co-Chairs

H. Jason Gold Wiley Rein LLP 7925 Jones Branch Dr, Suite 6200 Mc Lean, VA 22102 (703) 905-2825 (703) 905-2820 jgold@wileyrein.com William K. Snyder CRG Partners 13355 Noel Rd, Suite 1825 Dallas, TX 75240-6835 (972) 702-7333 (972) 702-7334 wsnyder@crpllc.net

Uniform Commercial Code

Unsecured Trade Creditors Co-Chairs

Douglas G. Fox Bosch Rexroth Corporation 2315 City Line Rd Bethlehem, PA 18017-2131 (610) 694-8250 (610) 694-8266 doug.fox@boschrexroth-us.com Jean R. Robertson Calfee, Halter & Griswold LLP 1400 KeyBank Ctr 800 Superior Ave Cleveland, OH 44114-2613 (216) 622-8404 (216) 241-0816 jrobertson@calfee.com Deborah L. Thorne Barnes & Thornburg LLP 1 N Wacker Dr, Suite 4400 Chicago, IL 60606-2841 (312) 214-8307 (312) 759-5646 dthorne@btlaw.com Val Venable GE Plastics 9930 Kincey Ave Huntersville, NC 28078 (704) 992-5075 (866) 585-2386 valerie.venable@ge.com

Young Members Co-Chairs

Douglas E. Deutsch Chadbourne & Parke, LLP 30 Rockefeller Plz New York, NY 10112-0015 (212) 408-5169 (212) 541-5369 ddeutsch@chadbourne.com Kathryn Pamenter Goldberg Kohn Bell Black Rosenbloom & Moritz, Ltd. 55 E Monroe St, Suite 3300 Chicago, IL 60603-5792 (312) 201-3983 (312) 863-7483 kathryn.pamenter@goldbergkohn.com

Co-Chairs

Brian L. Shaw Shaw Gussis Fishman Glantz Wolfson & Towbin LLC 321 N Clark St, Suite 800 Chicago, IL 60610-4766 (312) 541-0151 (312) 980-3888 bshaw100@shawgussis.com

Romaine S. Scott, III Haskell Slaughter Young & Rediker, LLC 2001 Park Pl, Suite 1400 Birmingham, AL 35203 (205) 254-1439 (205) 324-1133 rss@hsy.com

As of October 11, 2007

Gary A. Norton Whitfield & Eddy, PLC 317 Sixth Ave, Suite 1200 Des Moines, IA 50309-4112 (515) 246-5543 (515) 246-1474 norton@whitfieldlaw.com

2007 Partners

2007 Annual Report

44 Canal Center Plaza, Suite 404 • Alexandria, VA 22314-1592 (703) 739-0800 • fax (703) 739-1060 E-mail: info@abiworld.org • www.abiworld.org