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May 2004              Volume 2, Number 1 To study and make recommendations on the rights of unsecured trade creditors in bankruptcy. 

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Committee Officers

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Trade Creditors
Committee Newsletter?

David B. Wheeler
Moore & Van Allen
Charleston, SC

Newsletter Editor

ABI World

What's New at ABI World
Online Features of Interest to UTCC Members

  • Watch your mailbox for the June issue of the ABI Journal. In the Chapter 11 — “101” column, Prof. John D. Ayer, Michael L. Bernstein, Jonathan Friedland and Ryan Blaine Bennett offer an article titled, “What Every Unsecured Creditor Should Know About Chapter 11.”

  • Read ABI President Michael Richman’s “Viewpoint” article, published in a recent issue of Dow Jones’ Daily Bankruptcy Review. The article is titled “Time to Fix the Professional Fees Mess.”

  • Read the latest "Cracking the Code" article by Mark Berman titled, “Plain Meaning and the Assumption (or Not) of a License of Copyrighted Software.” The Fourth Circuit decided in RCI Technology Corporation v. Sunterra Corp. (In re Sunterra Corp.), 361 F.3d 257 (4th Cir. 3/18/04), that a debtor-in-possession (DIP) cannot assume a non-exclusive license agreement involving a copyrighted software program registered with the U.S. Copyright Office unless it first obtains the affirmative assent of the non-debtor party. To get to that result, the Fourth Circuit first took §365(c)(1) of the Bankruptcy Code through the plain-meaning obstacle course and decided that if a different result is to follow, Congress will have to make that result clear.

  • The latest bankruptcy court opinions and circuit case updates are made available at ABI world every week.

  • Looking for a new employee or searching for a new job? Check out the ABI Career Center—the one-stop site for job seekers and employers in the insolvency community. Stop by to set up your personal profile or search the available positions (over 120 on average). Employers are invited to post free job listings and search the job-seeker database for possible candidates.

  • Check out the latest Collier Case Update offered at ABI World. Case summaries are available to ABI members.

  • The latest edition of the West Bankruptcy Newsletter is now available. Provided by West Group, the newsletter is a weekly update on bankruptcy and debtor/creditor matters.

  • OTHER STORIES IN THIS ISSUE:

    UTCC Focuses on Claims Buying, Selling at 2004 Annual Spring Meeting

    Better Late Than Never: The Informal Proof of Claim Doctrine

    Creditors' Liquidating Trusts