Will Bankruptcy Reform Make the System More Equitable and Efficient?
POLICY FORUMMonday, September 23, 2002
12:00 p.m.
Featuring Todd Zywicki, George Mason University School of Law; and Lawrence Ausubel, University of Maryland.
The Cato Institute
1000 Massachusetts Avenue, NW
Washington, DC 20001
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Last July a House-Senate conference committee reconciled legislation to overhaul the nation's bankruptcy laws. In particular, the legislation would introduce means testing to the federal bankruptcy code and direct wealthier debtors into Chapter 13 repayment plans instead of allowing them to eliminate their debts under Chapter 7. Critics of reform argue that the legislation would place undue burdens on low-income debtors by making it more difficult for them to obtain a “fresh start” through the bankruptcy system. Supporters argue that the current system provides a windfall to many debtors by making it attractive to file for bankruptcy and point to the record number of bankruptcies in recent years as evidence of a system badly in need of repair. Please join us for a timely discussion on the future of bankruptcy reform.