118th Congress Finance and Financial Sector
S. 2831: SACKLER Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill 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).
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Peter Welch D-VTOriginal
- Elizabeth Warren D-MAOriginal
Who scored on this bill
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History
- Introduced in the Senate by Richard Blumenthal.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on the Judiciary.