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Endowment Newsletter
August 2014
Vol. 1, No. 1
Orioles Game a Huge Hit!

Baltimore’s picturesque Camden Yards ballpark was the backdrop for an exciting and fun American Bankruptcy Institute Endowment event on August 13. Although it looked for a time that the visiting New York Yankees would take the contest, an eighth-inning, three-run blast by Baltimore slugger Adam Jones clinched it for the home team — and put a slight damper on the celebration for one of the last appearances at the park of retiring Yankee shortstop and future Hall-of-Famer Derek Jeter. ABI extends a big thanks to BakerHostetler for sponsoring this event!

These kind of events are a mainstay of ABI Endowment fundraising: an opportunity for a fun night of networking and comraderie with ABI friends and colleagues, all in the service of a great cause, the Anthony H.N. Schnelling Endowment Fund. Be sure to read the announcement below about our next event, and check our website often for more information. If you are interested in participating in or hosting future events in your city, please contact Sharisa Sloan at ssloan@abi.org or (703) 739-0800.

Upcoming Events

Sept. 9: The Ninth Annual Golf and Tennis Outing with the New York Institute of Credit will be held at the Maplewood Country Club in Maplewood, N.J. The event concludes with a networking dinner. Learn more and register to attend at www.instituteofcredit.org/Events/090914%20-%20Golf.html.

NYIC Golf Event

If you or your firm is interested in sponsoring these and other ABI Endowment events, please contact Sharisa Sloan at ssloan@abi.org or (703) 739-0800.

January 20, 2015: Penguins vs. Flyers, Wells Fargo Center, Philadelphia, PA, at 7 p.m.

Nicknamed the “The Battle of Pennsylvania,” the Penguins-Flyers rivalry is often regarded as the most intense in the NHL; it is one of the most anticipated match-ups of the season and a hot ticket in both Pittsburgh and Philadelphia.

Please join the ABI Anthony H.N. Schnelling Endowment Fund for a Penguins vs. Flyersnight of networking in a luxury suite generously donated by Gavin/Solmonese, complete with food and open bar. Tickets are $200 and benefit the ABI Endowment Fund. This event is sure to be a sell-out!

To defray the cost of the food and beverage service, ABI is seeking sponsorships. Firms donating $1,000 will receive a ticket to the suite, signage at the event, and recognition in the ABI Journal and online. A portion of your sponsorship is tax-deductible!

To reserve your ticket or to sponsor this event, please email Sharisa Sloan at ssloan@abi.org.

Endowment News

Liquidating Trusts Support ABI

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 answer 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. Surplus assets can be donated to ABI’s Anthony H.N. Schnelling Endowment Fund, a 501(c)(3) charity. The Endowment has prepared model plan language.

continued in next column»

Participate in the 2014 Combined Federal Campaign

Contributions to the Anthony H.N. Schnelling Endowment Fund are tax-deductible. ABI is a 501(c)‌(3) tax-exempt organization. If you have been considering making a donation to the Endowment Fund, you may benefit by making your contribution to Combined Federal Campaign #11391. Your funds will be used to support research and education on insolvency. Please consider contributing during the current campaign season (Sept. 1 – Dec. 15). Contact ABI Chief Financial Officer Kathy Sheehan at (703) 739-0800 or ksheehan@abiworld.org for more information.

New Donor Roll

ABI thanks these latest donors, whose names are among a special group dedicated to advancing research of interest to the bankruptcy community.

Lifetime Member
Contributions of $10,000 – $14,999

Mark G. Stingley
Bryan Cave LLP

Leadership Club
Contributions of $1,000 – $1,999

David P. Benick
Gavin/Solmonese LLC

Paul H. Deutch
Rust Omni

Daniel C. McElhinney
Donlin, Recano & Company, Inc.

Lorenzo Mendizabal
Epiq Systems, Inc.

Joseph Richman
Gavin/Solmonese LLC

Jeremy VanEtten
Gavin/Solmonese LLC

Wayne P. Weitz
Gavin/Solmonese LLC

David Wender
Alston & Bird LLP

Melissa A. Youngman
McCalla Raymer, LLC


What the Fund Pays For

The ABI Endowment Fund pays for research relating to bankruptcy or insolvency; surveys or other analytical investigation; the education of judges, court personnel, other governmental personnel and the general public; scholarships or other educational grants; and any other projects with a material research or educational benefit to the bankruptcy and insolvency community. Commission hearingOver the past two years, one of the fund’s most visible projects has been the ABI Commission to Study the Reform of Chapter 11. Launched in 2012, the Commission is due to submit its final report to Congress at the end of this year. You can learn more about the background and work of the Commission by watching this video.


Silent Auction

Winter Leadership ConferenceBig Thanks to Recent Silent Auction Donors and Winners
ABI hosted silent auctions at several summer events, including the Steven M. Yoder Memorial Golf Outing, as well as ABI’s 21st Annual Central States Bankruptcy Workshop, 20th Annual Northeast Bankruptcy Conference, 19th Annual Southeast Bankruptcy Workshop and 10th Annual Mid-Atlantic Bankruptcy Workshop. ABI thanks all those who donated and placed winning bids on other items.

Donating silent auction items is a great way to support the Endowment! Don’t know what to donate? Possible items have been selected and are available for purchase at Amazon.com under a special ABI Wish List. Look for the silent auction at the upcoming Winter Leadership Conference.

Endowment Fund
Development Committee

Vice-President Development:
Edward T. Gavin
Gavin/Solmonese LLC

Committee Members:

Lisa Beckerman
Akin Gump Strauss Hauer & Feld LLP

Scott F. Gautier
Robins, Kaplan, Miller & Ciresi, LLP

Robert P. Reynolds
Reynolds, Reynolds & Little, LLC

Mitch Ryan
Rust Omni

Regional Endowment Chairs

 

West
Chair:  Mitchell Ryan – Rust Omni
Co-Chair:  
Martin R. Barash – Klee, Tuchin, Bogdanoff &
Stern LLP
Vice-Chair:  
Nellwyn Voorhies – Rust Omni
Matthew Gates – Duff & Phelps, LLC
Scott Gautier – Robins, Kaplan, Miller & Ciresi, LLP
Tania Moyron – Peitzman Weg LLP

Midwest
Chair: Claire Ann Resop – Steinhilber, Swanson & Resop
Richard S. Lauter – Freeborn & Peters LLP
Sheryl L. Toby – Dykema Gossett PLLC

Mid-Atlantic
Chair: Christopher A. Ward – Polsinelli
Sam Alberts – Dentons
Ted Gavin – Gavin/Solmonese
Neil B. Glassman – Bayard, P.A.
Richard Meth – Fox Rothschild LLP

New York
Co-Chair: Allen D. Wilen – EisnerAmper LLP
Co-Chair: Lisa G, Beckerman – Akin Gump Strauss Hauer & Feld LLP

Northeast
J. Scott Victor – SSG Capital Advisors, LLC

Rocky Mountain
Annette W. Jarvis – Dorsey & Whitney LLP

Texas & Southwest
K. Scott Van Meter – Navigant Consulting LLC

Southeast
Jerry Mx. Markowitz – Markowitz, Ringel, Trusty & Hartog

South
Chair: Robert P. Reynolds – Reynolds, Reynolds & Duncan, LLC
Larry R. Ahern III – Brown & Ahern
Richard P. Carmody – Adams and Reese LLC
Rudy J. Cerone – McGlinchey Stafford, PLLC
Mac D. Finlayson – Eller & Detrich, PC
Craig M. Geno – Craig M. Geno, PLLC
Stephen P. Wheelis – Wheelis & Rozanski, APLC
R. Scott Williams – Rumberger, Kirk & Caldwell, P.A.

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