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From a political perspective, the prospects of overhauling bankruptcy laws in the U.S. should be better than ever now that the Republicans have tightened their grip over Congress. Yet many observers remain pessimistic that lawmakers will finally approve bankruptcy legislation, which has been in the offing for eight consecutive years. The current proposal, which would mostly affect consumer bankruptcy, also includes significant provisions that would toughen rules for business.
January 12, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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