US HB2096 | 2021-2022 | 117th Congress

Status

Spectrum: Partisan Bill (Democrat 64-0)
Status: Introduced on March 19 2021 - 25% progression
Action: 2021-10-19 - Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Pending: House Subcommittee on Antitrust, Commercial, and Administrative Law Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Prohibits a bankruptcy court from releasing claims against non-debtors brought by states, tribes, municipalities, or the federal government. However, the bankruptcy court may issue a stay not exceeding 90 days regarding such a claim. Complex bankruptcies may involve creditor claims against non-debtors associated with the debtor, such as the debtor's officers, directors, or employees. Currently, in carrying out a bankruptcy plan, certain courts may release non-debtors from liability (there is a circuit split regarding this practice).

Tracking Information

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Title

SACKLER Act Stop shielding Assets from Corporate Known Liability by Eliminating non-debtor Releases Act

Sponsors

Rep. Carolyn Maloney [D-NY]Rep. Mark DeSaulnier [D-CA]Rep. Katherine Clark [D-MA]Rep. Ann Kuster [D-NH]
Rep. Alexandria Ocasio-Cortez [D-NY]Rep. Ayanna Pressley [D-MA]Rep. Rashida Tlaib [D-MI]Rep. Eleanor Norton [D-DC]
Rep. Stephen Lynch [D-MA]Rep. James McGovern [D-MA]Rep. Rosa DeLauro [D-CT]Rep. Ritchie Torres [D-NY]
Rep. Cori Bush [D-MO]Rep. Gerald Connolly [D-VA]Rep. Peter Welch [D-VT]Rep. Jim Cooper [D-TN]
Rep. Charlie Crist [D-FL]Rep. Jahana Hayes [D-CT]Rep. Jimmy Gomez [D-CA]Rep. Ro Khanna [D-CA]
Rep. Janice Schakowsky [D-IL]Rep. Mark Pocan [D-WI]Rep. Andre Carson [D-IN]Rep. Jamaal Bowman [D-NY]
Rep. Jackie Speier [D-CA]Rep. David Trone [D-MD]Rep. Katie Porter [D-CA]Rep. Paul Tonko [D-NY]
Rep. Danny Davis [D-IL]Rep. Jamie Raskin [D-MD]Rep. Lloyd Doggett [D-TX]Rep. Seth Moulton [D-MA]
Rep. Christopher Pappas [D-NH]Rep. James Langevin [D-RI]Rep. Mondaire Jones [D-NY]Rep. Ann Kirkpatrick [D-AZ]
Rep. David Cicilline [D-RI]Rep. Mary Gay Scanlon [D-PA]Rep. Henry Johnson [D-GA]Rep. Mark Takano [D-CA]
Rep. Alan Lowenthal [D-CA]Rep. John Sarbanes [D-MD]Rep. Andy Levin [D-MI]Rep. Lori Trahan [D-MA]
Rep. Madeleine Dean [D-PA]Rep. Debbie Wasserman Schultz [D-FL]Rep. David Scott [D-GA]Rep. Raja Krishnamoorthi [D-IL]
Rep. Abigail Spanberger [D-VA]Rep. Brenda Lawrence [D-MI]Rep. Andy Kim [D-NJ]Rep. Kweisi Mfume [D-MD]
Rep. Mike Quigley [D-IL]Rep. Richard Neal [D-MA]Rep. Robin Kelly [D-IL]Rep. Susan Wild [D-PA]
Rep. Jesus Garcia [D-IL]Rep. Frank Pallone [D-NJ]Rep. Lisa Rochester [D-DE]Rep. Barbara Lee [D-CA]
Rep. Jake Auchincloss [D-MA]Rep. William Keating [D-MA]Rep. Kathy Castor [D-FL]Rep. Peter DeFazio [D-OR]

History

DateChamberAction
2021-10-19HouseReferred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
2021-04-16HouseSponsor introductory remarks on measure. (CR H1879)
2021-03-19HouseReferred to the House Committee on the Judiciary.
2021-03-19HouseIntroduced in House

Same As/Similar To

SB2472 (Same As) 2021-07-26 - Read twice and referred to the Committee on the Judiciary.

Subjects


US Congress State Sources


Bill Comments

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