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NACM applauds senate on passage of bankruptcy bill.(Commentary)(National Association of Credit Management)
The National Association of Credit Management (NACM) applauds Senate passage of S. 256, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, sponsored by Senate Finance Committee Chairman Charles Grassley, R-Iowa. The Senate passed the legislation on March 10, by a vote of 75-24.
NACM has been advocating that the Bankruptcy Code be overhauled with regard to commercial bankruptcies. Although the consumer aspects of the bill have received most of the media attention, important measures vital to commercial creditors were at stake.
Specific Legislative Provisions
There are many provisions in the existing bankruptcy code that NACM ...
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