RESOLUTION URGING CONGRESS TO SLOW THE PACE
OF CONSIDERATION AND DELIBERATION OF PROPOSED BANKRUPTCY REFORM LEGISLATION
WHEREAS, the United States Congress is considering the reform of the nation's bankruptcy laws;

WHEREAS, in the last six months, legislators have introduced at least two bills (S. 1301 and H.R. 3150) which would bring about dramatic, far-reaching and controversial changes to the nation's bankruptcy laws;

WHEREAS, despite the extraordinary scope of the proposed changes, Congress has held fewer than ten hearings on these bills. In contrast, when Congress last reformed the nation's bankruptcy law in 1978, it debated a number of approaches for more than five years, and held more than 60 hearings during that time;

WHEREAS, aside from the tax code and the Social Security law, no other federal law affects more Americans and citizens of Philadelphia than the Bankruptcy Code;

WHEREAS, on March 31, 1998, fifty-eight (58) law professors delivered a letter to Congress calling the pace and deliberation of current bankruptcy reforms ill-considered, rushed and unbalanced. The letter urged Congress to pause, to hold full hearings on the issues, and to seek out a balanced, reasoned approach to reform the nation's bankruptcy laws;

WHEREAS, major bankruptcy organizations such as the National Bankruptcy Conference, National Conference of Bankruptcy Judges, and the American College of Bankruptcy have cautioned against hasty legislative changes to the nation's complex bankruptcy laws;

WHEREAS, thousands of Philadelphians could be adversely affected by rushed, ill-considered and unbalanced bankruptcy reform legislation;

NOW, THEREFORE, BE IT RESOLVED that the Philadelphia Bar Association urges Congress to slow the pace of consideration and deliberation of proposed bankruptcy reform legislation;

AND BE IT FURTHER RESOLVED that the Chancellor and the Legislative Liaison Committee take all appropriate action on this Resolution.

PHILADELPHIA BAR ASSOCIATION
BOARD OF GOVERNORS
ADOPTED: April 30, 1998