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THE CONSUMER BANKRUPTCY LETTER |
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In This Issue:
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February 17 2005
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TAX DISCHARGE IN BOSTON!
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From BankruptcyBooks.com
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FEATURED SITE #8 FIND BANK ADDRESSES
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HEADS-UP ON RECENT CASES
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AMENDMENTS OFFERED FOR BANKRUPTCY REFORM BILL
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Feb. 16 2005
AMENDMENTS OFFERED TO BANKRUPTCY REFORM BILL
There were four amendments proposed by Senator Kennedy and three were accepted (may submit more on the floor). Senator Feingold proposed 6 amendments (8 more were saved for the floor). Five were defeated and 1 was accepted. Senator Grassley and Senator Leahy proposed a joint amendment which was accepted. According to the Senate judiciary committee, the Bankruptcy Reform Act is going to the floor immediately, which means that it is on the schedule for the week of February 28.
Senator Schumer: he does not believe that one or two amendments to the Bankruptcy Reform Act (BRA) will be sufficient. He believes that there needs to be a broad range of changes to BRA. The most problematic to Sen. Schumer is the abortion activist loophole, i.e. abortion opponents are allowed to use bankruptcy as shield after getting judgments against them, so he doesn't agree with the bill on the whole. He will try to take this section out of bill on the floor.
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SENATE DEMOCRATS SEEK DELAY IN REFORM LEGISLATION
By John Godfrey
Of DOW JONES NEWSWIRES
WASHINGTON - Senate Democrats are asking Republicans to delay scheduled deliberations on business-sought bankruptcy reform legislation.
The measure is set to be considered Thursday by the Senate Judiciary Committee.
Democrats on the panel hope to push back the deliberations until March.
"We respectfully urge you to let this process work as it should rather than rushing the bill through without careful analysis and revision," committee Democrats Sen. Edward Kennedy of Massachusetts, Richard Durbin of Illinois, and Russ Feingold of Wisconsin wrote in a letter to their chairman, Sen. Arlen Specter, R-Pa.
Others on the panel expressed concern that the deliberations will conflict with scheduled hearings on President George W. Bush's $82 billion wartime supplemental spending request.
But Senate Majority Leader Bill Frist, R-Tenn., appears more willing to postpone the spending bill than the bankruptcy bill.
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SENATOR FEINSTEIN CO-SPONSORS BILL TO AMEND VENUE RULES IN BANKRUPTCY
Senator Feinstein (D Cal) has agreed to cosponsor the Fairness in Bankruptcy Litigation Act of 2005, S.314, that is intended to protect consumers, creditors, workers, pensioners, shareholders, and small businesses, by reforming the rules governing venue in bankruptcy cases to combat forum shopping by corporate debtors.
David Goch
Washington Legislative Counsel
Commercial Law League of America
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PUBLISHED BY KING BANKRUPTCY MEDIA FOR BANKRUPTCY PROFESSIONALS 7080 Donlon Way Suite 222 Dublin California 94568 (925) 829-6460. Morgan D. King, Editor.
© King Bankruptcy Media 2004 CONTACT US AT editor@bankruptcymedia.com
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