Bankruptcy Law Boston Bar
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A S S O C I A T I O N
SECTION NEWSLETTER 16 Beacon Street | Boston, MA 02108
Phone (617) 778-2040 | Fax (617) 523-0127
December 2006 | www.bostonbar.org
This issue of the newsletter was ready for print before news of our beloved friend and
Section Co-Chairs colleague’s passing. Ellen Carpenter is in our hearts and minds, as we continue to
reflect on this loss, rather than delay this issue we have printed it as originally written.
After Ellen is laid to rest in the Green Mountains of her family’s hometown in Vermont,
Lynne F. Riley, we will be planning a celebration of her life – paying tribute to her friendship and many
Esq.
Altman Riley Esher accomplishments. Our next Newsletter will be a part of this celebration.
LLP
100 Franklin Street From Section Co-Chair Lynne F. Riley:
Boston, MA 02110
(617) 399-7300 Greetings,
riley@are-law.com
I hope that everyone had a wonderful Thanksgiving with friends and family, and I
wish everyone a joyful holiday season. As we approach the end of the year, it is amazing
Douglas B. Rosner, to consider what our section and its members have already contributed and accomplished
Esq. this program year.
Goulston & Storrs
400 Atlantic Avenue We started with an informative and entertaining lunch program in September with
Boston, MA 02210 Judge Hillman and Ellen Carpenter (joined by visiting bankruptcy judges from the
(617) 574-6517
drosner@goulstonstorrs.com Russian Arbitrage Court) sharing their experiences, impressions and photos from their
trip to Siberia. Nina Parker hosted a consumer rap session focusing on the practical and
educational programs that consumer lawyers need to meet the changing landscape of
consumer bankruptcy practice. In October, Don Lassman chaired an excellent panel on
consumer amendments to the Bankruptcy Code (one year post-BAPCPA), which drew
Inside this Issue over 90 attendees. And Jeff Sternklar did a power-point lunch program on health care
___________________ bankruptcies, leading to a lively discussion including unresolved health care issues
presented by BAPCPA.
Calendar
2 November was even busier, with the Young Lawyers committee hosting an evening
Congratulations program on financial statements for insolvency professionals with Matt Flynn and Cindy
2 Romano. Walter Oney chaired a VLP training program designed to train participants to
Members in the
represent indigent consumer debtors and to encourage acceptance of pro bono consumer
News
cases. Steve Hoort hosted the Large Firm Pro Bono Subcommittee formation meeting,
What’s All the Fuss
where dialogue continued on ways to enable and ensure large firm involvement in pro
3 About Deposit bono consumer cases. Bob Wexler chaired a power-point lunch program on business
Account Control aspects of a turnaround to a packed and attentive audience. And Nina Parker led another
Agreements (And consumer rap session where the price of admission was a form that has proven helpful in
What’s Being Done managing consumer practice under the new law. For December’s lunch program, Lynne
About It?) Xerras and Doug Gooding discussed recent changes to the Local Bankruptcy Rules and
how these new rules impact consumer and business bankruptcy practice.
From the US
4 Trustee: Notice of
It has been remarkable to watch how seamlessly all of this educational and public
service programming unfolds. As the wind-down phase of my two year term begins, I
Debtor Audits
continue to encourage others to become involved in our section, and the BBA, in
whatever way you can. In the New Year, the financial literacy program will begin
In the Age of ECF,
5 Do Debtors Still
recruiting and training its Spring volunteers. The VLP desperately needs attorneys to
Need to Sign the accept pro bono consumer cases. Doug Rosner is soliciting topics for the Bench Bar
Bankruptcy program, and the June brown bag lunch slot is still available. The Newsletter is always
Petition? looking for articles and other items for publication, and other committees are always open
to new faces and ideas. So I look forward to seeing all of you, and collaborating further
Section Leadership on BBA activities, in the New Year. Warmest regards.
7 - Lynne
ABBREVIATIONS &
SAVE THE DATE CONTRIBUTORS ACRONYMS
Corey Dennis
The Bankruptcy Law Section Steering
Phoebe Morse Do you know the precise meaning
Committee will hold meetings starting at of each of the following abbreviations
8:30 a.m. on the following dates: Thomas J. Raftery
Edwin E. Smith or acronyms in the business and
January 5, 2007 Herbert Weinberg financial world? The answers appear
February 2, 2007 on the last page of this Newsletter.
March 2, 2007 EDITORS
April 6, 2007 Guy B. Moss AMF
May 4, 2007 John T. Morrier COGS
June 1, 2007 DTCC
IBD
The Bankruptcy Law Section will hold
luncheon meetings from 12:15 to 1:45 p.m. MEMBERS IN THE NEWS ING
on the following dates, subject to change: David J Reier has joined NL
Posternak, Blankstein & Lund, LLP as SFI
January 16, 2007: Carolyn Bankowski SRO
and Donna Clark on Post-Confirmation
a partner in the corporate department.
David’s practice focuses on UCE
Chapter 13 Plans
bankruptcy, reorganization and
February 14, 2007: Janet Bostwick on business counseling. He may be
Chapter 11 Plan and Confirmation Yearly reached at (617) 973-6100 or
Roundup
CONGRATULATIONS!
dreier@pbl.com.
March 20, 2007: Peter Baylor chairs Guy B. Moss will join Riemer & The Section congratulates Janet
BAPCA Update (Business Amendments) Braunstein LLP, Three Center Plaza, Bostwick of Janet E. Bostwick, P.C.
Boston, MA 02108 on January 2nd as and Stephen B. Darr of Mesirow
April 11, 2007: Preparing for an Financial Consulting, LLC on their
Adversary Proceeding (speaker: TBD)
a partner in its bankruptcy practice
group. He may be reached at (617) election as Fellows of the American
May 15, 2007: Joint Program with Young 880-3466 or gmoss@riemerlaw.com College of Bankruptcy.
Lawyers - Basic Creditors Issues with
Judge Henry J. Boroff
Please inform the editors of any news
that comes to your attention.
June 19, 2007: (TBD)
All meetings will be held at the BBA, 16 Beacon
Street, Boston, unless otherwise noted. All Section
members are welcome to attend. Please RSVP by
calling the BBA Reservation Line at (617) 742-
0615, ext. 272.
THE SOPHISTICATED DEBTOR’S VOCABULARY
“Satrap”: A petty ruler with despotic powers within his own realm
SPECIAL EVENTS “Sciolism”: A show of learning without any substantial foundation;
January 11, 2007 (4:00 p.m. - 5:30 p.m.) superficial knowledge
Financial Literacy Volunteer Training at the
U.S. Bankruptcy Court in Boston
“Sermoncination”: The habit of preaching constantly
March 1, 2007 (3:00 p.m. - 6:00 p.m.) “Shibboleth”: A principle or doctrine once held essential but now seen
Judge Hillman, Lynne Riley, Gayle as old-hat or abandoned
Stone-Turesky on Intersection of Divorce
and Bankruptcy “Slubberdegullion”: A dirty, wretched slob
March 14, 2007 (4:00 p.m. -7:00 p.m.) “Solipsist”: A philosopher who holds that only he himself exists and
Commercial Finance Committee - Cross-
that the external world exists only through his conception of it
Border Secured Transactions
May 24, 2007 “Spurious”: Not genuine
Bench Meets Bar
P. Bowler, Superior Person’s Book of Words (Godine 1982)
For more information about upcoming CLE
programs, please visit www.bostonbar.org/cle
2 Bankruptcy Law Section Newsletter
WHAT’S ALL THE FUSS ABOUT DEPOSIT ACCOUNT CONTROL AGREEMENTS
(AND WHAT’S BEING DONE ABOUT IT)?
By: Edwin E. Smith the time being has access to the funds parties, depositary banks and, of
Bingham McCutchen LLP in the deposit account by writing course, law firms all having their own
checks or making funds transfers. forms of control agreements.
Security interests cast a big Moreover, control agreements usually
“Control” under revised Article 9
shadow in bankruptcy cases as it is. are negotiated at the eve of closing
is easy and automatic when the
But security interests in funds in a and, given the clash of concerns of
secured party is the depositary bank
bank account are especially and forms used by the various parties,
itself or is the depositary bank’s
significant. When a bank account is often end up on the post-closing list
customer with respect to the deposit
taken as original collateral by a where they sometimes languish.
account. And it seemed easy, in theory
secured party, that is cash collateral
at least, for the secured party to have At the urging of a number of
with a vengeance.
“control” when the secured party is practitioners and inside counsel of
The idea of a secured party taking neither the depositary bank nor the depositary banks, the American Bar
a security interest in a bank account - depositary bank’s customer with Association’s Business Law Section
what Article 9 of the Uniform respect to the deposit account. In that several years ago created a special
Commercial Code calls a “deposit case all that Article 9 now requires for task force to draft a form of deposit
account” - as original collateral is not the security party to have “control” is account control agreement that was
new. The case law is replete with an agreement - a so-called “control fair to all parties, represented market
secured parties taking security agreement” - among the debtor, the practice, could be widely accepted by
interests in deposit accounts under the secured party and the depositary bank market players and could be
common law. But a security interest by which the depositary bank agrees concluded with no or minimal
in a deposit account as original to follow the secured party’s negotiation.
collateral under the common law was instructions with respect to the funds
That form was released at the
not perfected unless the secured party in the deposit account without further
American Bar Association’s 2006
had total “dominion and control” over consent of the debtor. See UCC § 9-
Spring Meeting in Orlando, Florida,
the deposit account. A security 104(a)(2).
and was published in 61 The Business
interest in a deposit account against
But practice has not been as easy Lawyer 745 (February 2006) together
which the borrower could freely write
as theory. Depositary banks had not with an initial report of the task force.
checks or make funds transfers was
developed operational systems to deal The form addresses the common
not recognized. A few states tried to
with “command override” instructions situation in which a secured party
address this predicament for the
from secured parties, especially with seeks to enter into a control agreement
secured party by making non-uniform
pre-programmed controlled with its debtor and the debtor’s
amendments to their Article 9.
disbursement and other cash depositary bank relating to a
However, it was not until revised management systems largely running transactional deposit account to which
Article 9 went into effect throughout on automatic pilot. Without a “magic the debtor initially has access.
the country some five years ago that button” to stop the operations of their
The form is divided into two
the law of security interests in deposit cash management systems, depositary
documents: a set of general terms (the
accounts as original collateral was banks became concerned about their
“General Terms”) and a very short
codified. Revised Article 9 brought exposure in agreeing to follow a
deposit account control agreement
deposit accounts as original collateral secured party’s instructions. Secured
(the “DACA”). Parties may complete
within its scope for the first time on a parties in turn sometimes aggressively
the provisions in the DACA setting
uniform basis, at least in non- sought to include in control
forth the deposit account number and
consumer transactions. Revised agreements all sorts of rights, such as
the resolution of other discrete issues
Article 9 also created the concept in the ability to obtain cash management
to be negotiated while the form at the
which a security interest in a deposit services not available to the debtor or
same time incorporates by reference
account as original collateral may be to give directions as to special
the General Terms. The General
perfected solely by the secured party handling of items credited to the
Terms provide the core agreement by
taking “control” of the deposit deposit account. What has developed
which the depositary bank agrees to
account. In fact, Article 9 permits a in the market place since revised
follow instructions from the secured
secured party to take “control” of a Article 9 went into effect is a classic
party as to the disposition of the funds
deposit account even if the debtor for “battle of the forms” with secured
in the deposit account without the
Bankruptcy Law Section Newsletter 3
further consent of the debtor as well as to the deposit account and the funds in The form is already being widely
provisions resolving such often hotly the deposit account are regularly used in practice. It has been adopted
negotiated topics as by when the transferred to the secured party. Other by a number of depositary banks and
depositary bank must react to such inserts “under construction” deal with will be accepted by others. It is hoped
instructions, to what exculpation and lock box arrangements, blocked that the form will continue to gain
indemnification the depositary bank is savings accounts, first and second lien acceptance among market players and
entitled, to what extent the depositary arrangements, and sweeps to will serve its purpose to be
bank subordinates any security overnight investment accounts. In implemented easily in secured
interest or right of setoff which the addition, a DACA is being developed transactions with no or minimal
depositary bank might have in the for securitization transactions. negotiations by the parties.
deposit account, and under what [Editor’s Note: Edwin E. Smith is a
To obtain a copy of the task
circumstances the DACA may be partner in the Financial Restructuring
force’s initial report, the DACA, the
terminated or assigned. practice at Bingham McCutchen LLP, and
General Terms and the completed and
The task force is also developing draft inserts, it is only necessary to also serves as the Reporter for the Deposit
Account Agreement Task Force. He can
inserts to the DACA. One insert, that surf the task force’s web site at
be reached at (617) 951-8000 or at
has been finalized by the task force, http://www.abanet.org/dch/committee. edwin.smith@bingham.com. ]
addresses the typical transaction in cfm?com=CL710060 .
which the debtor does not have access
From the United States Trustee
NOTICE OF DEBTOR AUDITS
Phoebe Morse, United States United States Trustee Program (the petition was filed, along with
Trustee for Region 1, makes the “USTP”). These Debtor Audit sufficient documentation to
following announcement: Standards have been published in the reasonably explain the source of
Federal Register and are posted to the deposits or credits, and the purpose
Commencing with cases filed by
USTP’s website at: of checks, withdrawals or debits; and
individual debtors on and after
www/usdoj/ust.gov. • A copy of any divorce decree and/or
October 20, 2006, Chapter 7 and
Chapter 13 cases will be selected for The Office of United States Trustee property settlement entered within
audit pursuant to §603(a)(1) of the will send a letter to Debtor’s Attorney, the last three years, and any current
Bankruptcy Abuse Prevention and or a pro se Debtor, indicating that a child support/alimony obligation
Consumer Protection Act of 2005 case has been selected for audit, involving the debtor.
(“BAPCPA”). These Debtor Audits enclosing a form for the attorney to Debtors will have 21 days to
will be focused on determining the indicate whether the audit firm can provide the audit firm with the
accuracy, veracity and completeness directly contact a represented debtor requested documents. Debtors must
of petitions, schedules and other about documents and an information cooperate with the audit firm (11
information provided by debtors under sheet about the audit for the debtor. U.S.C. §521(a)(3)) and provide
§§521 and 1322 of the Bankruptcy The letter will also identify the firm records to the auditor (11 U.S.C.
Code. that will be conducting the audit and §521(a)(4)). A debtor’s discharge
the documents that must be produced may be revoked if the debtor does not
Cases will be selected both
to the audit firm. These documents satisfactorily explain the failure to
randomly (one out of at least every
include the following: make available all documents or
250 cases filed for the district) and
based upon debtor’s income or • Pay stubs for the six calendar property requested by the audit firm.
expenses having a greater than months prior to filing; (11 U.S.C. Sec. 727(d)(4)(B)).
average variance from the statistical • Two years of federal tax returns, Once the audit is complete, the audit
norm for the district. The Debtor including any schedules and forms; firm will issue a report which must
Audits will be performed by • Account statements for all specify any material misstatements of
independent firms selected by the depository and investment accounts income, expenses, or assets that were
United States Trustee pursuant to for the six calendar months identified by the audit firm. Before
§603(a)(1) of the BAPCPA using preceding the date of the filing of the including a material misstatement in
auditing standards developed by the petition, plus the month in which the an audit report, the audit firm will
Bankruptcy Law Section Newsletter 4
contact the debtor’s counsel, or the If material misstatements are not QUOTES
pro se debtor, in writing, notifying the adequately explained by the debtor,
debtor of the concern and offering the the United States Trustee may take
OF THE MONTH
debtor an opportunity to provide an appropriate civil action and, where “Speak when you are angry and you
immediate written explanation for the appropriate, make a criminal referral will make the best speech you will
item(s) in question. to the U.S. Attorney. 28 U.S.C. ever regret.”
§586(f)(2)(B)(1). - Ambrose Bierce
Audit firms must file the audit
report with the court and transmit it to A public report will be issued “Success isn’t permanent, and failure
the United States Trustee. Pursuant to annually by the USTP, and will isn’t fatal.”
28 U.S.C. §586(a)(2), the clerk of include the percentage of cases by - Mike Ditka
court must send a notice to creditors in district in which a material “I have never seen a monument
cases in which one or more material misstatement is reported. erected to a pessimist.”
misstatements have been identified in - Paul Harvey
For more information regarding
an audit report. “We cannot direct the wind, but we
Debtor Audits, please visit the
Program’s website at can adjust the sails.”
www.usdoj.gov/ust. - Bertha Calloway
IN THE AGE OF ECF, DO DEBTORS STILL
NEED TO SIGN THE BANKRUPTCY PETITION?
By: Herbert Weinberg, Esq. and Corey Dennis
I recently received a frantic call from a debtor. She told me she was in trouble
through no fault of her own but because of incompetent counsel and an out of
control trustee. As I have become involved and successfully resolved (albeit
with concessions by the debtor) a number of similar situations since October
2005, I agreed to meet with her.
At our meeting, she informed me that she had received a six-figure sum from
the sale of real estate held in a trust of which she was a beneficiary. Two
months later, she filed bankruptcy, but did not list the cash or the transfer of the
By Tom Raftery money to her mentally disturbed son. She explained that her bankruptcy
attorney advised her that there was no need to disclose the transfer. Having
MURPHY’S LAWS reviewed the debtor’s legal documents, I discovered that she had filed a
complaint to the Board of Bar Overseers. I also noticed that her former attorney
“Phone messages: had replied to the complaint with a detailed, well-drafted response, denying that
If you have a pen, there’s no paper. he was aware of the sale, let alone the debtor’s transfer to her son, but admitting
If you have paper, there’s no pen. that he was aware that the debtor did not sign the voluntary bankruptcy petition.
If you have both, it will be Debtor’s former counsel claimed the oversight was irrelevant because the
a wrong number.” debtor signed the Declaration of Electronic Filing.
“When things go wrong, At the same time, I asked fellow practitioners about this issue. To my surprise,
they go wrong all at once I was told by several outstanding attorneys that the execution of the Declaration
and at the worst possible moment.” of Electronic Filing was sufficient. Intrigued, I decided to take on the issue and
“Inside every large problem put it through the crucible of a contested matter.
are many other small problems Notwithstanding popular belief, I found a physically-signed bankruptcy
struggling to get out.” petition is still an essential element in the commencement of a bankruptcy case.
“No one can ever leave anything MLRB Appendix 8, Rule 7; see also, In Re Koliba, 338 B.R. 39 (Bankr.
well enough alone.” N.D.Ohio 2005); Briggs v. LaBarge (In re Phillips), 317 B.R. 518, 524 (B.A.P.
8th Cir. 2004) (explaining voluntary petition filed without debtor's original
“If you cannot convince people, signature indicates a filing that has no basis in fact); In re Wenk, 296 B.R. 719,
confuse them.”
Bankruptcy Law Section Newsletter 5
726 (Bankr. D. Va. 2002) court explained that “[r]igidity of such as active duty military service
(declaring debtor’s physical the system is to be avoided and we on the part of the debtor, are also
signature “is absolutely required are usually to be found in that required. See In re Harrison, 158
even on skeletal petitions”). camp.” 12 B.R. 906, 907 (Bankr. B.R. 246, 248 (Bankr. D. Fla.
“[R]egardless of how urgent the D. Va. 1981). However, the court 1993) (holding bankruptcy case
need may appear to be,” the debtor held that a petition unsigned by the must be dismissed because there
“must read and sign every petition debtor is invalid, reasoning that were no exceptional
because each contains information such rigidity was justified under circumstances); In re Brown, 163
unique to that filing.” Briggs v. the circumstances: “[bankruptcy] B.R. 596, 597-98 (Bankr. D. Fla.
LaBarge (In re Phillips), 317 B.R. is a deep personal action which 1993) (concluding that despite
518, 523 (B.A.P. 8th Cir. 2004). only the individual should make. being signed by third party with
“The filing of a bankruptcy case is We must keep it that way, purely.” power of attorney, petition was a
a serious act with profound legal Id. Therefore, public policy legal nullity because there were no
consequences for debtors and requires that a petition be “extraordinary circumstances”); In
creditors and should not be physically signed to be valid. re Sullivan, 30 B.R. 781, 782
undertaken without careful (Bankr. D. Pa. 1983) (holding
Indeed, the conditions under
deliberation of consequences.” In debtor’s brother with power of
which a debtor need not sign the
re Curtis, 262 B.R. 619, 624 attorney could represent debtor in
petition demonstrate the
(Bankr. D. Vt. 2001). The bankruptcy filing where debtor
importance of the debtor’s
requirement of an original was a monk assigned by his order
execution of the petition. Courts
signature emphasizes these serious to serve in Holland); In re Curtis,
have concluded that the lack of a
consequences. 262 B.R. 619 (Bankr. D. Vt. 2001)
debtor’s physical signature on the
(“something more than a general
Bankruptcy is a very personal voluntary petition did not render
power of attorney is necessary to
matter that requires the signature the petition a legal nullity if there
authorize the commencement of a
of the debtor to ensure it has been is
bankruptcy case on behalf of a
undertaken by the debtor herself.
• a third party a power of attorney debtor”). But see In re Raymond,
See In re Wenk, 296 B.R. 719,
provided by the debtor 12 B.R. 906, 907 (Bankr. D. Va.
726-27 (Bankr. D. Va. 2002).
• a signature by the third party with 1981) (holding third party filing of
(“[l]ogic dictates that only the
a power of attorney bankruptcy petition is never valid).
debtor can state under oath that the
• in most cases good cause.
information provided in his or her Alas, the Court found my
petition is true and correct”); In re In re Hurford, 290 B.R. 299, 301 client had participated sufficiently
Morgan, 182 B.R. 4, 5 (Bankr. (Bankr. D. Mich. 2003) in the bankruptcy so that she was
S.D.N.Y. 1995) (“[s]imply put, (explaining courts have permitted a judicially estopped from seeking
voluntariness is the essence of a third party to sign a petition on dismissal. In re Willis, 345 B.R.
voluntary case and implies a behalf of the debtor in “limited 647 (8th Cir. 2006).
personal, present intent to seek circumstances”); In re Hurt, 234 Notwithstanding, the Court has set
bankruptcy relief”); In re B.R. 1, 2 (Bankr. D. N.H. 1999) a hearing to explore whether the
Raymond, 12 B.R. 906, 907 (holding petitions and schedules debtor’s former attorney should be
(Bankr. D. Va. 1981) (“[w]e must be executed by non-debtor in sanctioned for failing to insure that
perceive bankruptcy to be a very his representative capacity and the petition was signed before
personal matter which only the copy of power of attorney must be filing the bankruptcy.
individual can voluntarily filed with petition); Chelsea
[Editor’s Note: Herbert Weinberg is
exercise”); In re Harrison, 158 Woods Condo. v. Okupe (In re a partner in Rosenberg & Weinberg
B.R. 246, 248 (Bankr. M.D. Fla. Okupe), 2005 Bankr. LEXIS 1744 and also is of counsel to Rudolph
1993) (“no one can grant authority (Bankr. D. Md. 2005) (holding that Friedman L.L.P.. He can be reached at
to verify under oath the filing of bankruptcy case must be (978) 683-2479 or
truthfulness of statements within authority granted under hweinberg@jrwhlaw.com. Corey
contained in the documents” and power of attorney and that powers Dennis is a first year student at
verify that facts are true “when the of attorney are strictly construed). Suffolk University Law School.]
veracity of these facts are unique With regard to the third
and only within the ken of the requirement, most courts have held
declarant”). In In re Raymond, the that exceptional circumstances,
6 Bankruptcy Law Section Newsletter
SECTION LEADERSHIP
The Bankruptcy Law Section Steering Committee consists of Section and Committee
Co-Chairs and all Members-At-Large. For the 2006-2007 fiscal year, the Section’s
leadership is as follows:
Section Co-Chairs Consumer Bankruptcy Committee Membership Committee Co-Chairs Pro Bono Committee Co-Chairs
Lynne F. Riley, Esq. Co-Chairs Leslie F. Su, Esq. Walter Oney, Esq.
Altman Riley Esher LLP Nina M. Parker, Esq. Gordon Haley LLP 267 Pearl Hill Road
100 Franklin Street Parker & Associates 101 Federal Street, 17th Floor Fitchburg, MA 01420
Boston, MA 02110 10 Converse Place Boston, MA 02110-1844 Phone: (978) 343-3390
Phone: (617) 399-7300 Winchester, MA 01890 Phone: (617) 261-0100 Fax: (978) 343-3397
Fax: (617) 399-7410 Phone: (781) 729-0005 Fax: (617) 261-0789 E:Walter.Oney@oneylaw.com
Efax: (617) 449-9516 Fax: (781) 729-0187 E: lsu@gordonhaley.com
E: riley@are-law.com E: nparker@ninaparker.com Mark Rossi, Esq.
Alex Mattera, Esq. Altman Riley Esher LLP
Douglas B. Rosner, Esq. Susan Grossberg, Esq. McCarter & English 100 Franklin Street
Goulston & Storrs Suite 1100 225 Franklin Street Boston, MA 02110
400 Atlantic Avenue 101 Tremont Street Boston, MA 02110-2804 Phone: (617) 399-7300
Boston, MA 02210 Boston, MA 02108 Phone: (617) 345-7025 Fax: (617) 399-7410
Phone: (617) 574-6517 Phone: (617) 357-5555 Fax: (617) 204-8025 E: rossi@are-law.com
Fax: (617) 574-7627 Fax: (617) 350-7775 E: amattera@mccarter.com
E: drosner@goulstonstorrs.com E: Grossberg@AA-Attorneys.com Young Lawyers Committee Co-
Newsletter & Information Services Chairs
Ad Hoc Committee New Financial Literacy Committee Co- Committee Co-Chairs Jesse I. Redlener, Esq.
Bankruptcy Act Co-Chairs Chairs Guy B. Moss, Esq. Nutter McClennen & Fish LLP
Donald R. Lassman, Esq. Hon. Joan N. Feeney Bingham McCutchen LLP World Trade Center West
Law Office of Donald R. Lassman U.S. Bankruptcy Court 150 Federal Street 155 Seaport Blvd.
P.O. Box 920385 Room 1101 Boston, MA 02110-1726 Boston, MA 02210-2604
Needham, MA 02492 Ten Causeway Street Phone: (617) 951-8916 Phone: (617) 439-2813
Phone: (781) 455-8400 Boston, MA 02222 Fax: (617) 951-8736 Fax: (617) 310-9813
Fax: (781) 455-8402 Phone: (617) 565-6049 E: guy.moss@bingham.com E:jredlener@nutter.com
E: drlesq@msn.com E: Judge_Joan_Feeney@mab.uscourts.gov
John T. Morrier, Esq. Chip W. Azano, Esq.
Peter N. Baylor, Esq. Janet E. Bostwick, Esq. Mintz, Levin, Cohn, Ferris, Glovsky Mintz, Levin, Cohn, Ferris, Glovsky
Nutter McClennen & Fish LLP Janet E. Bostwick, PC and Popeo, P.C. and Popeo, P.C.
World Trade Center West 295 Devonshire Street One Financial Center One Financial Center
155 Seaport Boulevard Boston, MA 02110 Boston, MA 02111 Boston, MA 02111
Boston, MA 02210-2604 Phone: (617) 956-2670 Phone: (617) 348-3051 Phone: (617) 542-6000
Phone: (617) 439-2000 Fax: (617) 422-1428 Fax: (617) 542-2241 Fax: (617) 542-2241
Fax: (617) 310-9390 E: jeb@bostwicklaw.com E: JMorrier@mintz.com E: cwazano@mintz.com
E: pbaylor@nutter.com
Law and Public Policy Committee Practice and Procedure Committee MEMBERS-AT-LARGE
Commercial Finance Committee Co-Chairs Co-Chairs Mitchel Appelbaum, Esq.
Co-Chairs (Joint with the John G. Loughnane, Esq. Lynne B. Xerras, Esq. Wilmer Cutler Pickering Hale and
Business Law Section) McCarter & English Holland & Knight LLP Dorr LLP
Paula K. Andrews, Esq. 225 Franklin Street 10 St. James Avenue 60 State Street
Hinckley, Allen & Snyder LLP Boston, MA 02110-2811 Boston, MA 02116 Boston, MA 02109
28 State Street, 29th Floor Phone: (617) 345-7098 Phone: (617) 854-1403 Phone: (617) 526-6713
Boston, MA 02109-1775 Fax: (617) 204-8098 Fax: (617) 523-6850 Fax: (617) 526-5000
Phone: (617) 378-4102 E: jloughnane@mccarter.com E:lynne.xerras@hklaw.com E: mitchel.appelbaum@wilmerhale.com
Fax: (617) 345-9020
E: pandrews@haslaw.com Michael Khoury, Esq. Douglas Gooding, Esq. Joseph H. Baldiga, Esq.
Madoff & Khoury LLP Choate, Hall & Stewart LLP Mirick, O'Connell, DeMallie & Lougee
Rafael Klotz, Esq. Suite 202 34th Floor LLP
Goulston & Storrs 124 Washington Street Two International Place 100 Front Street
400 Atlantic Avenue Foxborough, MA 02035 Boston, MA 02110 Worcester, MA 01608
Boston, MA 02210 Phone: (508) 543-0040 Phone: (617) 227-5020 Phone: (508) 791-8500
Phone: (617) 482-1776 Fax: (508) 543-0020 Fax: (617) 248-4000 Fax: (508) 791-8502
Fax: (617) 574-4112 E: khoury@mandkllp.com E: Dgooding@Choate.com E: jhbaldiga@mirickoconnell.com
E: rklotz@goulstonstorrs.com
Bankruptcy Law Section Newsletter 7
Thomas O. Bean, Esq. Jennifer V. Doran, Esq. Richard L. Levine, Esq. Adam J. Ruttenberg, Esq.
McDermott Will & Emery, LLP Hinckley, Allen & Snyder LLP 1200 Washington Street, #420 Looney & Grossman LLP
28 State Street 28 State Street, 29th Floor Boston, MA 02118 101 Arch Street
Boston, MA 02109 Boston, MA 02109-1775 Phone: (617) 338-8093 Boston, MA 02110
Phone: (617) 535-4426 Phone: (617) 378-4128 Fax: (617) 338-8091 Phone: (617) 951-2800
Fax: (617) 535-3800 Fax: (617) 345-9020 E:richardlevine@richardlevinelaw.com Fax: (617) 951-2819
E: tbean@mwe.com E: jdoran@haslaw.com E: aruttenberg@lgllp.com
Christine D. Lynch, Esq.
Mark N. Berman, Esq. Harry E. Ekblom, Jr., Esq. Goulston & Storrs, Bruce F. Smith, Esq.
Nixon Peabody LLP Sullivan & Worcester LLP 400 Atlantic Avenue Jager Smith, P.C.
100 Summer Street One Post Office Square Boston, MA 02110-3333 One Financial Center
Boston, MA 02110 Boston, MA 02109 Phone: (617) 482-1776 Boston, MA 02111
Phone: (617) 345-6037 Phone: (617) 338-2843 Fax: (617) 574-4112 Phone: (617) 951-0500
Fax: (866) 382-5868 Fax: (617) 338-2880 E: clynch@goulstonstorrs.com Fax: (617) 951-2414
E: mberman@nixonpeabody.com E: hekblom@sandw.com E: bsmith@jagersmith.com
Christopher R. Mirick, Esq.
Ann Brennan, Esq. William J. Hanlon, Esq. Weil, Gotshal & Manges LLP David G. Sobol, Esq.
Stephen E. Shamban Law Offices, Seyfarth Shaw LLP 100 Federal Street, 34th Floor Holland & Knight LLP
P.C. World Trade Center East Boston, MA 02110 10 St. James Avenue
220 Forbes Road, Suite 208 Two Seaport Lane, Suite 300 Phone: (617) 772-8353 Boston, MA 02116
P.O. Box 850973 Boston, MA 02210-2028 Fax: (617) 772-8333 Phone: (617) 305-2030
Braintree, MA 02185 Phone: (617) 946-4995 E: christopher.mirick@weil.com Fax: (617) 523-6850
Phone: (781) 849-1136 Fax: (617) 946-4801 E:david.sobol@hklaw.com
Fax: (781) 848-9055 E: whanlon@seyfarth.com Phoebe D. Morse, Esq.
E: abrennan@shambanlaw.com United States Trustee's Office Andrew P. Strehle, Esq.
Pamela A. Harbeson, Esq. Room 1184 Brown Rudnick Berlack Israels LLP
Paul W. Carey, Esq. Looney & Grossman LLP Ten Causeway Street One Financial Center
Mirick, O'Connell, DeMallie & Lougee 101 Arch Street Boston, MA 02222 Boston, MA 02111
LLP Boston, MA 02110 Phone: (617) 788-0440 Phone: (617) 856-8569
100 Front Street Phone: (617) 951-2800 Fax: (617) 565-5601 Fax: (617) 856-8201
Worcester, MA 01608 Fax: (617) 951-2819 E: phoebe.morse@usdoj.gov E: astrehle@brbilaw.com
Phone: (508) 791-8500 E: pharbeson@lgllp.com
Fax: (508) 791-8502 Colleen A. Murphy, Esq. Adrienne K. Walker, Esq.
E: pwcarey@mirickoconnell.com Jennifer L. Hertz, Esq. Mintz, Levin, Cohn, Ferris, Glovsky Mintz, Levin, Cohn, Ferris, Glovsky
Duane Morris LLP and Popeo, P.C. and Popeo, P.C.
Charles A. Dale III, Esq. Suite 500 One Financial Center One Financial Center
McCarter & English 470 Atlantic Avenue Boston, MA 02111 Boston, MA 02111
225 Franklin Street Boston, MA 02210 Phone: (617) 348-1836 Phone: (617) 348-1612
Boston, MA 02110-2811 Phone: (617) 289-9200 Fax: (617) 542-2241 Fax: (617) 542-2241
Phone: (617) 345-7000 Fax: (617) 289-9201 E: cmurphy@mintz.com E: awalker@mintz.com
Fax: (617) 345-7050 E: jlhertz@duanemorris.com
E: cdale@mccarter.com Christopher J. Panos, Esq. Anne J. White, Esq.
Steven T. Hoort, Esq. Craig and Macauley, P.C. Klieman, Lyons, Schindler & Gross
Christine E. Devine, Esq. Ropes & Gray LLP Federal Reserve Plaza 21 Custom House Street
Mirick, O’Connell, DeMallie & Lougee, One International Place 600 Atlantic Avenue Boston, MA 02110
LLP Boston, MA 02110-2624 Boston, MA 02110 Phone: (617) 443-1000
100 Front Street Phone: (617) 951-7470 Phone: (617) 367-9500 Fax: (617) 443-1010
Worcester, MA 01608 Fax: (617) 951-7050 Fax: (617) 742-1788 E: awhite@klsandg.com
Phone: (508) 791-8500 E: Steven.hoort@ropesgray.com E: panos@craigmacauley.com
Fax: (508) 791-8502
E: cedevine@mirickoconnell.com William W. Kannel, Esq. Michael J. Pappone, Esq.
Mintz, Levin, Cohn, Ferris, Glovsky Goodwin Procter LLP
and Popeo, P.C. Exchange Place
One Financial Center Boston, MA 02109
Boston, MA 02111 Phone: (617) 570-1940
Phone: (617) 542-6000 Fax: (617) 523-1231
Fax: (617) 542-2241 E: mpappone@goodwinprocter.com
E: bkannel@mintz.com
ANSWERS to ABBREVIATIONS & ACRONYMS:
AMF American Machine & Foundry NL No Load
COGS Cost of Goods Sold SFI Six Figure Income
DTCC Depository Trust & Clearing Corporation SRO Self-Regulatory Organization
IBD Investors Business Daily UCE Unsolicited Commercial Email
ING Internationale Nederlanden Group
Bankruptcy Law Section Newsletter 8