American Bankruptcy Institute Names John Penn President-Elect

April 21, 2004

CONTACT:
Allison Stuckey
Sunwest Communications
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Eric Backs
Haynes and Boone
214.651.5467
eric.backs@haynesboone.com

FORT WORTH, TEXAS – Haynes and Boone, LLP is pleased to announce that John Penn, a Partner in the firm’s Business Reorganization/Bankruptcy Practice Group, was elected President-Elect of the American Bankruptcy Institute.  Mr. Penn’s term is effective immediately.  He has served on the Institute’s Board of Directors since 1997.

The American Bankruptcy Institute was established in 1982 to provide Congress and the public with objective analysis of insolvency issues. The Institute is now the largest multi-disciplinary, non-partisan organization dedicated to insolvency research and education. Its members include over 10,000 attorneys, auctioneers, bankers, judges, lenders, educators, turnaround specialists, accountants and other bankruptcy professionals. Among the publications the Institute produces are the monthly ABI Journal, materials from the numerous educational conferences sponsored by the Institute, a weekly online newsletter titled “Cracking the Code”, and the biannual ABI Law Review.

“I am deeply humbled to be honored by such a renowned organization,” said John Penn.  “I look forward to leading the ABI as it continues to serve the needs of insolvency professionals across the country and around the world.”

Mr. Penn has over 21 years of experience in representing parties in business bankruptcy cases. He is Board Certified in Business Bankruptcy Law by both the Texas Board of Legal Specialization and American Board of Certification. Mr. Penn recently completed representations of: Kitty Hawk, Inc., the nation’s largest non-integrated overnight cargo carrier which was successfully reorganized under Chapter 11; Cummins Utility, LP, a large utility supply company; the trustee for the oldest airline in the United States (and perhaps the world), where the company was sold and airline continues flying; and the indenture trustee for Subordinated Debentures, where over 10% of the debt was elevated to general unsecured status.

Mr. Penn is also a member of the American Bankruptcy Institute’s Executive Committee and serves as the Chairman of the American Board of Certification, the only organization providing nationwide board certification in bankruptcy and creditors rights law. He is a past President of the Tarrant County Bankruptcy Bar Association as well.

Haynes and Boone, LLP is an international law firm with nine offices throughout Texas, Washington, D.C., Mexico City and New York, providing a full spectrum of legal services to clients around the world. With more than 450 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by National Law Journal.  The firm was recognized in the 2004-2005 edition of Chambers USA: America’s Leading Business Lawyers as being one of the top eight firms in the United States and No. 1 in Texas for Insolvency/Corporate Bankruptcy work.  The firm has also been recognized as one of the "20 Best Law Firms to Work For" (Vault.com, 2004), one of the “Best Corporate Law Firms in America” (Corporate Board Member Magazine, 2001-2003) and recipient of the Minority Corporate Counsel Association’s 2002 Thomas L. Sager Award for commitment to diversity.

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Nathan Koppel
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nathan.koppel@haynesboone.com
Linda Campbell
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+1 214.651.5362
linda.campbell@haynesboone.com

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