HR 2096 · 117th Congress · Finance and Financial Sector

SACKLER Act

Introduced 2021-03-19· Sponsored by Rep. Maloney, Carolyn B. [D-NY-12]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.(2021-10-19)

Plain Language Summary

[AI summary unavailable — showing source text] Stop shielding Assets from Corporate Known Liability by Eliminating non-debtor Releases Act or the SACKLER Act 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).…

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

Cosponsors (20)

20 Democrats
Rep. DeSaulnier, Mark [D-CA-11]CA
Rep. Clark, Katherine M. [D-MA-5]MA
Rep. Kuster, Ann M. [D-NH-2]NH
Rep. Ocasio-Cortez, Alexandria [D-NY-14]NY
Rep. Pressley, Ayanna [D-MA-7]MA
Rep. Tlaib, Rashida [D-MI-13]MI
Del. Norton, Eleanor Holmes [D-DC-At Large]DC
Rep. Lynch, Stephen F. [D-MA-8]MA
Rep. McGovern, James P. [D-MA-2]MA
Rep. DeLauro, Rosa L. [D-CT-3]CT
Rep. Torres, Ritchie [D-NY-15]NY
Rep. Bush, Cori [D-MO-1]MO
Rep. Connolly, Gerald E. [D-VA-11]VA
Rep. Welch, Peter [D-VT-At Large]VT
Rep. Cooper, Jim [D-TN-5]TN
Rep. Crist, Charlie [D-FL-13]FL
Rep. Hayes, Jahana [D-CT-5]CT
Rep. Gomez, Jimmy [D-CA-34]CA
Rep. Khanna, Ro [D-CA-17]CA
Rep. Schakowsky, Janice D. [D-IL-9]IL