Amendment provides that a debtor who is disqualified from obtaining relief under chapter 7 by virtue of the bill's need-based formula is not disqualified from relief under chapter 11; makes revisions in the debt counseling and financial management provisions; limits the amount of a debtor's homestead; adds safeguards to fee examiner appointments and creditor's committee membership; revises language to accord more protection to recording artists; and clarifies that the Advisory Committee on Bankruptcy Rules of the Judicial Conference of the United States will establish rules and forms for small business debtors.

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Amendment Number
660
Description
Amendment provides that a debtor who is disqualified from obtaining relief under chapter 7 by virtue of the bill's need-based formula is not disqualified from relief under chapter 11; makes revisions in the debt counseling and financial management provisions; limits the amount of a debtor's homestead; adds safeguards to fee examiner appointments and creditor's committee membership; revises language to accord more protection to recording artists; and clarifies that the Advisory Committee on Bankruptcy Rules of the Judicial Conference of the United States will establish rules and forms for small business debtors.
Purpose
An amendment numbered 1 as printed in House Report 105-573 to ensure that a debtor that is disqualified from obtaining relief under needs-based formula is not disqualfied from obtaining relief under chapter 11.
Congress
105
Type
HAMDT
Latest Action Date
Jun 10, 1998
Latest Action Text
On agreeing to the Gekas amendment (A001) Agreed to by voice vote.
Latest Action Time
15:25:05
Submitted Date
Jun 10, 1998
Chamber
House of Representatives
Update Date
Aug 15, 2021
Amendment 660 — Informed