HR 764 -- 11/08/97

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HR 764 -- 11/08/97 OMB Home EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503

STATEMENT OF ADMINISTRATION POLICY
(THIS STATEMENT HAS BEEN COORDINATED BY OMB
WITH THE CONCERNED AGENCIES.)

November 8, 1997
(House)

H.R. 764 - Bankruptcy Amendments Act of 1997
(Hyde (R) Illinois)

The Administration has no objection to House passage of H.R. 764, but will seek amendments in the Senate to delete Section 11, "Executory Contracts and Unexpired Leases". This Section would permit a debtor to continue a contract or lease on which the debtor had previously defaulted without correcting the problem that had caused the default, compensating the creditor for his or her loss, or assuring adequate performance in the future.

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H.R. 764 - Bankruptcy Amendments Act of 1997 (Hyde (R) Illinois)

H.R. 764 - Bankruptcy Amendments Act of 1997
(Hyde (R) Illinois)