Skip to main content
S 832 108th Congress Senate Finance and Financial Sector Accounting Bankruptcy Commerce Corporate corruption Corporate finance Corporation directors Crime and Law Enforcement Debtor and creditor Executive compensation Fraud Fringe benefits Government Operations and Politics Labor and Employment Law Limitation of actions Loans Securities regulation State laws Trusts and trustees

Corporate Accountability in Bankruptcy Act

Introduced: April 9, 2003 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 9, 2003
Read twice and referred to the Committee on the Judiciary.
Apr 9, 2003
Sponsor introductory remarks on measure. (CR S5068-5069)
Apr 9, 2003
Introduced in Senate
 Plain-English summary Congressional Research Service

Corporate Accountability in Bankruptcy Act - Amends Federal bankruptcy law to permit a bankruptcy trustee to avoid any transfer made within one year before the date of the filing of the bankruptcy petition to an insider, officer, or director for bonuses, loans, nonqualified deferred compensation, or other extraordinary or excessive compensation.

Permits the bankruptcy trustee to avoid any transfer of specified assets made or obligation incurred on or within four years before the filing of the petition for relief, or that involves: (1) a violation of securities laws; or (2) fraud, deceit, or manipulation in either a fiduciary capacity, or in connection with the purchase or sale of registered securities.

What's happening now April 9, 2003

Read twice and referred to the Committee on the Judiciary.

 Committees of jurisdiction 1