ABI poll respondents: Information sharing protocols solving disclosure requirement concerns

By Caroline Salls

Pittsburgh, May 30 - The American Bankruptcy Institute said 72% of respondents to a recent online poll agreed that court-ordered information-sharing protocols, like those established in the Refco and Calpine cases, are a solution to concerns over the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005's committee disclosure requirements, according to a Tuesday news release.

The poll question was based on recent requests by bankrupt companies, including Refco, Calpine, Oneida and Silicon Graphics Inc., seeking the court's permission to limit the sharing of confidential information to only those participants of a creditors' committee bound by a confidentiality agreement.

According to the report, 44% said they agree somewhat that court-ordered information-sharing would satisfy concerns over committee disclosure requirements, with 28% weighing in that they agree strongly.

Only 16% of respondents disagreed that court-ordered information-sharing requirement protocols are the solution to concerns over the new law's committee disclosure requirements.

The American Bankruptcy Institute is an Alexandria, Va.-based multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency.

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