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November 8, 1997

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.