Chapter 11 bankruptcy filings rose by 91 percent in the 12-month period ending June 30, 2009. There is no sign that our economic turmoil is abating: More than 150 public companies filed during the first eight months of this year - a pace not observed since 2002. The size of the cases (e.g., GM, Chrysler, AIG, etc.) is without precedent: A record 25 cases filed this year have assets of more than $2 billion, and many are substantially larger.

Moreover, a new breed of cases is taking shape - not just bigger, but faster-moving, with a growing trend toward sales over traditional reorganization, and with governmental stakeholders dominating the process in ways perhaps not contemplated by the Code's architects or even our case law history.

Can the current law keep pace with today's volatile global economic climate? Is it responsive and flexible enough to meet our needs? Is it time for Congress to revisit not only the 2005 amendments, but engage in a systematic modernization of chapter 11? Indeed, are the present crisis-driven cases changing the law de facto, even without Congress' participation or assent?

This Symposium brought together some of the most prominent and informed practitioners, judges and scholars on the commercial insolvency issues being played out every day. The luncheon keynote was delivered by Harvey Miller, perhaps the most prominent chapter 11 practitioner of our time, whose historical perspective is unmatched. The Symposium faculty re-examined the traditional framework of insolvency law against today's headlines and offered the "way forward."

ABI hopes that the permanent record of the Symposium will materially assist Congress in its understanding of the current restructuring environment and lead toward a stronger and more adaptable Bankruptcy Code.

To buy and watch the recordings, including the transcript of proceedings, of every session of this event, click the link below.