November 8, 1997
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.