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American Bankruptcy Institute
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Bankruptcy- A Concept to be Understood:
It is very important to first understand the concept of Bankruptcy, before we proceed to discuss our topic further.Bankruptcy is basically a situation in which a person, firm etc declares that it is not possible for it to repay its obligations and declares itself as bankrupt. The question that arises here is why the bankruptcy is declared. As is well known to every one of us that a person, firm etc has to borrow money from various persons, financial institutes etc for accomplishing various tasks.
This money has to be paid back also. Many a times, the assets that a person, firm etc has are not sufficient to repay the money borrowed from others. It may be due to any reason like the accumulation of hefty losses. In such circumstances, the person, firm etc files a petition in the court that it is not able to repay the borrowings and it should be declared bankrupt. Bankrupt thus means that the person, firm etc is no longer able to sustain losses and in the case of a firm, its all operations are closed. Bankruptcy is a very sensitive issue and a person must have the full knowledge of the various laws that are applicable in the cases in a particular country. For this, there are several institutes that help both the parties to bankruptcy. In United States of America, such institute is the American Bankruptcy Institute. It is better known as ABI. Let us discuss about it in our next part of discussion.
The American Bankruptcy Institute:
American Bankruptcy Institute is the institute at the apex level in the United States that provides all the guidance in the field of bankruptcy. This institute opens five days a week i.e. from Monday to Friday. The timings of the institute are from 0900 hrs to 1730 hrs. (Eastern Time). If any person wishes to contact this office, he can easily contact this office at 703-739-0800. The facsimile number of the ABI is 703-739-1060. The web site of the institute is www.abiworld.org. If a person wishes to submit any forms or any other article related to bankruptcy, he can easily submit at 44 Canal Center Plaza, Suite 404 Alexandria, VA 22314. There is ample guidance available at this institute and a person can easily contact any of the concerned
persons to have his advice on the matter. If one wishes to know the reason for the recognition of such a higher level of the institute, it can be rightly said that it is because of the various publications that are provided by this institute. These publications have been helping the various persons including advocates etc, companies and the federal government as well. Thus, it becomes necessary for us to discuss the various publications of the American Bankruptcy Institute. Let us discuss these in our next part of discussion.
The Publications of ABI:
There are various publications of the American Bankruptcy Institute that are available in the market. Any person can easily buy these publications and can easily get the in depth knowledge about the various issues related to the Bankruptcy. The order for the various publications can be easily faxed at the facsimile number given above or can be mailed to the mailing address of the institute given above. Also, contacting the Pat Knob at the number 703-739-0800 ext. 121 can easily clear the queries about the publications. The queries can also be emailed at www.noboa@abiworld.org. The various publications of the American Bankruptcy Institute are: The Bankruptcy 2006 yearbook and Almanac: This is one of the most renowned and trusted publications that are published by the ABI. Many professionals like advocates, researchers etc are relying on this publication of the institute for the past many years. It contains all the latest trends and developments in the field of bankruptcy. It can be rightly said that the yearbook is the bible for the people that are concerned with bankruptcy. It is basically a guiding book for all the persons who wishes to declare their firm, company or himself bankrupt. It is to be noted here that there is special provision in the Chapter 11 under which a person or a company can declare itself bankrupt. All such information is provided in this yearbook. Apart from the above, the yearbook also contains the decisions that have been given by various courts on bankruptcy of various persons and firms last year. The yearbook also serves the purpose of a ready reference for all the lawyers that are involved in the cases of bankruptcy. This book also contains the various verdicts that have been given by various courts on bankruptcy of various firms and companies. The other publication of the institute is the Bankruptcy issues for the commercial landlords, tenants and the mortgagees. This publication is also one of the important publications of the institute. It contains all the provisions under which a landlord or a mortgagor can declare it as bankrupt. The various rights of the tenants and the mortgagees are given in the publication and a person who has been the victim of the landlord or the mortgagor declaring itself as bankrupt, can easily take this publication as a top reference. The same is the case when the tenant of a commercial property or the mortgagee declares itself bankrupt. In such circumstance, what are the rights and provisions of the landlords and the mortgagors are also given in this publication. Thus, this also makes an important publication of the institute. The other publication of the institute that is also an important publication is the Retention and Compensation in the Bankruptcy cases. This publication contains all the relevant information about the compensation that a person can get when the other party declares itself as bankrupt. In what circumstances can a person retain the property etc of a person who has been declared bankrupt is also given in this publication Thus, it is also an important publication of the institute. There are many other publications that are available in the market. A person can easily log on to the URL of the institute to get all such information. Also, the institute conducts various certificate exams and all the information about such exams can be easily gathered from the URL or the office of the institute.
So, Contact ABI Today:
If you have any questions regarding the bankruptcy or you have been a victim of bankruptcy, you can easily contact the American Bankruptcy Institute to get all the required information. You can also write the various certificate examinations of the institute as well.
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