William F. Smith: “I support the Bankruptcy Conference Report. I know there has been deliberation about the effect of section 330 of the…”

“I support the Bankruptcy Conference Report. I know there has been deliberation about the effect of section 330 of the bill on anti-abortion protests. But I believe section 330 will have little practical effect. And the rest of this bill will an overwhelmingly positive impact on the bankruptcy system. Section 330 does not penalize any lawful behavior. It will apply only if a person violates the law, a court enters an award against that person, the person later files a non-chapter 13 bankruptcy and seeks to discharge a debt based on their unlawful activity, and the creditor pursues the matter. It does not apply only to abortion-related protests, but also to unlawful protests aimed at the providers of any lawful good or service. The compromise reached in conference on this issue also contains very stringent requirements that should prevent any innocent protesters from being included in these provisions. Moreover, this bill will curb bankruptcy abuse and protect consumers. It will also address the loophole in current law that allows debtors in certain states with unlimited homestead exemptions to shield an almost unlimited value of their homes from their creditors.”