WP: Bankruptcy Bill Benefits Chosen Few

[Kenneth Mack]

A bill designed to make it harder for Americans to wipe out their
debts through bankruptcy contains a special clause that helps shield a
group of well-to-do Americans from a debt of at least $15 million owed
to insurance giant Lloyd's of London.

The provision is one of the few in the bankruptcy legislation now
being debated in the Senate that would benefit a small targeted group:
about 300 Americans, including 20 millionaires such as Lorraine Grace
and her son, Oliver Grace -- relatives of deceased industrialist J.
Peter Grace.

The amendment was added last fall by Republican congressional leaders
when they met privately to craft a final version of the bankruptcy
legislation, which was passed last week in the House.

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http://washingtonpost.com/wp-dyn/articles/A48588-2001Mar9.html

Ken