S 2820
107th Congress
Senate
Finance and Financial Sector
Bankruptcy
Civil actions and liability
Commerce
Corporate collapse
Corporate governance
Corporation directors
Debtor and creditor
Employee benefit plans
Employee pensions
Executive compensation
Labor and Employment
Law
Leave of absence
Pension funds
Salaries
Sales personnel
Severance pay
Sick leave
Wages
A bill to increase the priority dollar amount for unsecured claims, and for other purposes.
Introduced: July 30, 2002
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2002
Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S7581)
Jul 30, 2002
Sponsor introductory remarks on measure. (CR S7581)
Jul 30, 2002
Introduced in Senate
Plain-English summary
Amends Federal bankruptcy law to increase from $4,650 to $13,500 the maximum amount of a claim to recover employee wages and benefits that has priority ranking among unsecured creditor claims.
Authorizes the bankruptcy court to avoid any transfer of compensation paid to an employee, officer, or member of the board of directors of a debtor in the 90 days preceding the bankruptcy petition date if the court finds that the compensation is either out of the ordinary course of business, or that it constitutes unjust enrichment.
What's happening now
Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S7581)
Committees of jurisdiction
1
Cosponsors
1