S 2820 · 107th Congress · Finance and Financial Sector

A bill to increase the priority dollar amount for unsecured claims, and for other purposes.

Introduced 2002-07-30· Sponsored by Sen. Carnahan, Jean [D-MO]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S7581)(2002-07-30)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (3)

3 Democrats