CFA is responding to the new ABI proposals for bankruptcy reform.
On December 6, 2014, the American Bankruptcy Institute will release its Commission to Study the Reform of Chapter 11 Report, including an anticipated 100 recommendations to change the current bankruptcy code. The Commission has noted “the expansion of the use of secured credit” having “affected the effectiveness of the current bankruptcy code” and identifies as one of its primary goals the “maximization and realization of asset values for all creditors and stakeholders.” It is believed that several of the recommendations are directly aimed at secured lenders.
The Commercial Finance Association has developed a proactive and strategic communications plan to address, clarify and repudiate the recommendations that directly affect secured lenders. This Strategic Communications Plan will augment CFA’s ongoing Legislative Advocacy Strategy.