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United States · Bill · S

S. 2472 (117th)

SACKLER Act

referredUnited States· United States Congress· EN

Introduced

26 July 2021

Last action

26 July 2021 · Introduced

Status

Read twice and referred to the Committee on the Judiciary.

Sponsors

Sen. Blumenthal, Richard [D-CT], Sen. Warren, Elizabeth [D-MA]

Subjects

Discovery layer

Source updated

10 August 2026

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Summary

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).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 26 July 2021

    Introduced

    Read twice and referred to the Committee on the Judiciary.

    Source: IntroReferral

  2. 26 July 2021

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 26 July 2021

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 26 July 2021

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 26 July 2021

    Open at official source

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Sponsors

Related records

Sources

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