Proposed bankruptcy legislation now in Congress, which includes parts designed to expedite bankruptcy proceedings, is flawed by the presence of special interest proposals that would impinge on the efficacy of the 1978 reforms.

A review of the past 15 years of proceedings under the Bankruptcy Reform Act of 1978, against the background of its predecessor statute, Chapter 10 of the Bankruptcy Act of 1898, shows how far we have come in expediting bankruptcy proceedings.

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