Pete Sessions: “In closing today, I would like to say that the Bankruptcy Review Commission was created in 1994 and filed its report in…”

“In closing today, I would like to say that the Bankruptcy Review Commission was created in 1994 and filed its report in 1997. It was composed of people who were on the front lines, not only bankruptcy judges but also trustees from all across the country as well as those who were interested in small business, consumers and others. They have provided us feedback that we have included in this bill today. Today I had an opportunity to speak with the trustee of the Northern District of Texas and the Eastern District of Texas, Bill Neary. Mr. Neary provided me information and feedback that, in fact, he believed that the most complete, up-to-date opportunities that they are seeing in the marketplace today are included within this bill. This rule that we are talking about is fair. It is doing the right thing. It will support the underlying legislation.”