|
For Immediate Release
February 24, 1999
#99-27
|
AMERICA'S COMMUNITY BANKERS STRONGLY SUPPORTS
'NEEDS-BASED' BANKRUPTCY BILL
WASHINGTON, D.C. _ America's Community Bankers said today
it "strongly supports" several important features of a
bankruptcy reform bill introduced by Rep. George Gekas
(R-Pa.).
"America's Community Bankers strongly supports the bill's
"needs-based" bankruptcy system that distinguishes between
debtors who have virtually no assets or earning power and
debtors with the ability to repay all or a portion of their
indebtedness," said Robert R. Davis, ACB's director of
government relations.
Davis specifically noted that ACB "enthusiastically
supports" the legislation's anti-cramdown provisions that
would prevent inappropriate reduction in the value of secured
residential real estate liens."
Davis also noted that the bill, by elevating child support
and alimony obligations to first priority for repayment,
"clearly enhances these vital family support mechanisms that
sustain a significant number of American families."
A copy of the letter is linked. |
|
