F. F. Quittner; Bankruptcy Law Pioneer
Francis F. (Frank) Quittner, a bankruptcy attorney credited with pioneering Chapter 11 of the Bankruptcy Code, under which debtors are permitted to remain in business while restructuring and paying off their obligations, died Sunday.
His daughter, Bonnie Gelfman, said he died of complications of Parkinson’s disease at Eisenhower Medical Center in Rancho Mirage. He was 85.
A graduate of Fordham University Law School, Quittner gravitated toward the bankruptcy field as a young attorney in the 1920s after a land boom in Florida turned into a bust.
He later moved to California, where he formed the firm of Quittner, Stutman, Treister & Glatt, which, as Stutman, Treister & Glatt, has become one of the largest bankruptcy law firms in the country.
In earlier bankruptcy proceedings, companies were forced to go out of business and their assets were divided among creditors.
Working through the National Bankruptcy Conference, a private group of specialists who voluntarily advise Congress on legislation, Quittner helped pioneer a new Chapter 11 as an alternative.
Under it, companies are permitted to continue operation while working out repayment proceedings. It has become the major vehicle in bankruptcy law.
Besides his daughter, Quittner is survived by his wife, Laura, of Westlake Village, a son, David, two grandchildren and two great-grandchildren.
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