FEBRUARY 2018 VOL. 5, NO. 2
From the ABI Anthony H.N. Schnelling Endowment Fund

Miami Event Benefited Puerto Rico Relief

ABI postponed its February 2018 program in Puerto Rico after the island was devastated by Hurricanes Irma and Maria last fall. But recovery for our fellow citizens there has been very slow, and the insolvency world must help.

On Feb. 1, ABI hosted a two-hour late-afternoon CLE symposium with a cocktail reception at The Ritz-Carlton Coconut Grove in Miami. Two panel discussions focused on legal developments under PROMESA, featuring experts in Puerto Rico and south Florida. Another panel with the Puerto Rico judges addressed the ongoing impact of the fiscal crisis on the bankruptcy system.

Puerto Rico benefitPuerto Rico CLE sessionPuerto Rico benefit

All proceeds from this event benefited the Puerto Rico Recovery Fund (puertoricorecoveryfund.com), a charity bringing humanitarian relief to the island. Thanks go to Adams and Reese LLP; Broad and Cassel LLP; Donlin, Recano & Company, Inc.; FTI Consulting, Inc.; GCG; Genovese Joblove & Battista, P.A.; Gray Robinson P.A.; Markowitz Ringel Trusty + Hartog P.A.; McGlinchey Stafford, PLLC; Moore & Van Allen PLLC; Sequor Law; Solomon Harris; Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, P.A.; and Wachtell, Lipton, Rosen & Katz for sponsoring this event. Special thanks to Zach Smith (Moore & Van Allen PLLC) for organizing the panels.

Benefit for Puerto Rico

On April 4, 2018, the ABI Endowment Fund will team up with The Mariano Rivera Foundation to raise much-needed funds to benefit Hurricane victims in Puerto Rico. This event, to be held at the famed New York Athletic Club during the first week of baseball season, is more than a great opportunity to network with your colleagues over appetizers and an open bar. You will get to meet legendary New York Yankees pitcher Mariano Rivera, while the insolvency community gives back to the territory that has occupied so much of the bankruptcy news for the past few years.


Premium Sponsor: Rust Omni

Gold Sponsors:
EisnerAmper LLP; FTI Consulting, Inc.; McGuireWoods LLP; and Richards, Layton & Finger, PA.

Silver Sponsors:
Baker Tilly Virchow Krause, LLP; Court Solutions LLC; GCG; Phoenix Management Services; Polsinelli; and Reorg Research, Inc.

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New Donors Recognized

The Endowment Fund recognizes and thanks the following for reaching new levels of giving:

New Visionary Member
Richard Carmody photo
Richard P. Carmody 
Adams and Reese LLP

The Endowment gratefully acknowledges the gift that Mr. Carmody recently made in memory of Jerry Shulkin (Shulkin Hutton Inc., PS; Seattle), who passed away in December.

Residual Award Notice

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.

Thank you to Thomas A. Pitta (Emmet, Marvin & Martin, LLP; New York) and Sharon L. Levine (Saul Ewing Arnstein & Lehr LLP; Newark, N.J.) for designating the ABI Endowment Fund in the In re Consolidated Aluminum Corporation case.

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donate now

Endowment Fund Development Committee

Vice President—Development:
Robert P. Reynolds
Reynolds, Reynolds & Little, LLC

Committee Members:
Richard S. Lauter
Lewis Brisbois Bisgaard & Smith LLP

Jerry M. Markowitz
Markowitz, Ringel, Trusty + Hartog, P.A.

Bradley D. Sharp
Development Specialists, Inc.

Kelly Beaudin Stapleton
Alvarez & Marsal

Christopher A. Ward

Endowment Fund

Regional Endowment Chairs


Chair: Christopher A. Ward – Polsinelli
Sam J. Alberts – Dentons
Ryan G. Foley – Shook, Hardy & Bacon LLP
Charles Forman – LeClairRyan, PC
Neil B. Glassman – Bayard, P.A.
Thomas M. Horan – Shaw Fishman Glantz & Towbin, LLC
Warren Martin – Porzio, Bromberg & Newman, PC
Richard M. Meth – Fox Rothschild LLP
James E. Van Horn – McGuireWoods LLP

Chair: Richard S. Lauter – Lewis Brisbois Bisgaard & Smith LLP
Daniel A. DeMarco – Hahn Loeser & Parks LLP
Reginald W. Jackson – Vorys, Sater, Seymour and Pease LLP
James A. Lodoen – Lindquist & Vennum LLP
Claire Ann Resop – Steinhilber Swanson
Scott Y. Stuart – Esquify, Inc.
Sheryl L. Toby – Dykema Gossett PLLC

New England
Chair: Jeffrey T. Varsalone – CBIZ MHM, LLC

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

Rocky Mountain
Co-Chair: Annette W. Jarvis – Dorsey & Whitney LLP
Lynne Long – All Business Development Solutions, LLC


Chair: Kristina M. Johnson – Jones Walker LLP
John W. Ames – Bingham Greenebaum Doll LLP
Richard P. Carmody – Adams and Reese LLP
Rudy J. Cerone – McGlinchey Stafford, PLLC
Craig M. Geno – Craig M. Geno, PLLC
James E. Smith – Williams Anderson PLC
Emily Campbell Taube – Burr & Forman LLP
Stephen P. Wheelis – Wheelis & Rozanski, APLC

Chair: Jerry Markowitz – Markowitz, Ringel, Trusty + Hartog, P.A.
Terri L. Gardner – Nelson Mullins Riley & Scarborough, LLP
Neil C. Gordon – Arnall Golden Gregory LLP
Jennifer McLemore – Christian & Barton, LLP
Jennifer M. Meyerowitz – GCG
Edward J. Peterson, III – Stichter, Riedel, Blain & Prosser, PA
Lynn Lewis Tavenner – Tavenner & Beran, PLC
Glenn Thompson – Hamilton Stephens Steele & Martin, PLLC

Texas & Southwest
Co-Chair: Jason S. Brookner – Gray Reed & McGraw, PC
Co-Chair: Scott Van Meter – Berkeley Research Group, LLC
Thomas H. Grace – Vorys, Sater, Seymour and Pease LLP
Jordan A. Kroop – Perkins Coie LLP
John Penn – Perkins Coie LLP
Thomas J. Salerno – Stinson Leonard Street LLP

Chair: Bradley D. Sharp – Development Specialists, Inc.
Matthew Gates – Duff & Phelps, LLC
Scott Gautier – Robins Kaplan
Mitch Ryan – Donlin Recano & Company, Inc.

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