House Legislative committee greenlights Bankruptcy Act amendments

LEGISLATION WATCH- Changes to the Bankruptcy Act that would give creditors more power to decide the future of bankrupt businesses received approval from the House Legislative Committee yesterday, reports Al Shorouk. The amendments, as they stand, would also allow debtors to request bankruptcy protection, among other things. They should now make their way for a vote at a House plenary session before being signed into law by the president.