Corporate Bankruptcy Abuse Prevention and Employee Protection Act of 2002

Summary

Corporate Bankruptcy Abuse Prevention and Employee Protection Act of 2002 - Amends Federal bankruptcy law to: (1) extend from 90 to 180 days before the bankruptcy petition the earning period in which certain employee wages and benefits enjoy third rank priority among unsecured claims and benefits; (2) increase to $10,000 each the amount of employee wages and contributions to employee benefit plans that have priority as unsecured claims and benefit; (3) extend from one to two years before the filing for bankruptcy the threshold date of any transfer of property interest of the debtor or any obligation incurred by the debtor which may be avoided by the bankruptcy trustee as a fraudulent transfer or obligation (including any transfer to or for the benefit of an insider under an employment contract and not in the ordinary course of business); and (4) provide for court-ordered reinstatement of insurance benefits for retired employees that had been modified by an insolvent debtor during the 180-day period ending on the date of the filing for bankruptcy.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 October 2002

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• Introduced in House (PDF)

  Introduced in House · EN · 2 October 2002

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• Introduced in House

  summary · EN · 2 October 2002

  Open at official source

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