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Bill > S2472
US S2472
US S2472SACKLER Act Stop shielding Assets from Corporate Known Liability by Eliminating non-debtor Releases Act
summary
Introduced
07/26/2021
07/26/2021
In Committee
07/26/2021
07/26/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To prohibit the non-consensual release of claims by States, municipalities, federally recognized Tribes, or the United States against non-debtors, and for other purposes.
AI Summary
This bill, the Stop shielding Assets from Corporate Known Liability by Eliminating non-debtor Releases Act (SACKLER Act), aims to prohibit non-consensual releases of claims by states, municipalities, federally recognized tribes, or the United States against non-debtors in bankruptcy cases. The bill amends the Bankruptcy Code to restrict a court's ability to enjoin or release such claims, except as provided under the existing Section 524(g) regarding asbestos-related liability. The bill also allows a court to issue a temporary stay, not exceeding 90 days, on actions against non-debtors that could have been commenced before the bankruptcy case.
Committee Categories
Justice
Sponsors (2)
Last Action
Read twice and referred to the Committee on the Judiciary. (on 07/26/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/2472/all-info |
| BillText | https://www.congress.gov/117/bills/s2472/BILLS-117s2472is.pdf |
| Bill | https://www.congress.gov/117/bills/s2472/BILLS-117s2472is.pdf.pdf |
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