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CLLA NEWSWIRE | PRESS RELEASES
League Members Meet With Congressional Staff To Push For Bankruptcy Legislation
CLLA Staff, Staff | August 08, 2011
Aug. 8, 2011 -- Several members of the Commercial Law League of America met with congressional staff members on Aug. 5, 2011, to share the CLLA's position on critical bankruptcy issues including entities filing cases in remote jurisdictions and the rules regarding small business reorganizations.
CLLA Bankruptcy Section Chair Peter Califano; Immediate Past President Gary Weiner; President-Elect Ivan Reich, Board of Governors' member Jeffrey Schatzman and Bankruptcy Section Executive Council member Louis Robin were present.
The CLLA members and Republican and Democratic Senate and House Judiciary Committee staff members discussed the CLLA's comments and recommendations on H.R. 2533, which proposes restrictions to the liberal bankruptcy venue provisions permitting entities to file cases in jurisdictions other than where their real principal place of business or primary assets are located.
The group also conferred about the development of parameters for establishing and implementing small business reorganizations.
Although bankruptcy is not currently a top priority for Congress, it was noted that attention has been given to bills concerning venue issues; an extension of the military exception to means testing and limitations on Section 363 sales -- which should see increased attention, including possible hearings, this fall.
According to Califano, "all of our meetings went very well, and each of the staff members we met with was genuinely interested in League's position on the various bankruptcy issues discussed. In fact, most of the staff members requested that we provide them with additional commentary on several bankruptcy issues."
The same group of CLLA members also met with a representative of the Commercial Finance Association to discuss the possibility of partnering on some legislative issues.
About the CLLA
The Commercial Law League of America, founded in 1895, is the nation's oldest organization of attorneys, collection agencies, judges, accountants, trustees, turnaround managers and other experts in credit and finance actively engaged in the field of commercial law, bankruptcy and insolvency. The Bankruptcy Section of the CLLA is comprised of approximately 500 bankruptcy lawyers and bankruptcy judges from virtually every state in the United States. Its members include practitioners with both small- and mid-sized practices who represent divergent interests in bankruptcy cases.
The CLLA has long been associated with the representation of creditor interests, while at the same time seeking fair, equitable and efficient administration of state law collection and bankruptcy cases for all parties-in-interest. Members of the CLLA have testified on numerous occasions before Congress as experts in the collection, bankruptcy and reorganization fields. To learn more about the Commercial Law League of America, visit www.clla.org.
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