Fairness and Accountability in Reorganizations Act of 2006

Summary

Fairness and Accountability in Reorganizations Act of 2006 - Revises federal bankruptcy law to add to the conditions for court confirmation of a corporate reorganization plan that the compensation of an insider who will be employed or retained by the reorganized debtor has been approved by, or is subject to the approval of, the court, as reasonable. Prohibits the payment of a compensation enhancement in order to induce an insider of the debtor to remain with the debtor's business, unless the court finds that any transfers or obligations to or for the insider's benefit are essential to the survival of the business, or to the orderly liquidation and maximization of the value of the debtor's assets. Revises requirements for collective bargaining agreements and retiree health benefits to instruct the court to take into account the ongoing impact on the debtor of the debtor's relationship with all subsidiaries and affiliates, regardless of whether domestic or foreign, or whether any such subsidiary or affiliate is a debtor entity.

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Timeline

1. 6 April 2006

   Introduced

   Read twice and referred to the Committee on the Judiciary.

   Source: IntroReferral

2. 6 April 2006

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 6 April 2006 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 6 April 2006

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 6 April 2006

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 6 April 2006

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Bayh, Evan [D-IN] · D · Sponsor
• Sen. Kerry, John F. [D-MA] · D · Cosponsor
• Sen. Dayton, Mark [D-MN] · D · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Sen. Stabenow, Debbie [D-MI] · D · Cosponsor
• Sen. Levin, Carl [D-MI] · D · Cosponsor
• Sen. Boxer, Barbara [D-CA] · D · Cosponsor
• Sen. Biden, Joseph R., Jr. [D-DE] · D · Cosponsor
• Sen. Harkin, Tom [D-IA] · D · Cosponsor
• Sen. Lieberman, Joseph I. [ID-CT] · D · Cosponsor
• · ssju00 · Standing

Related records

• related to → Fairness and Accountability in Reorganizations Act of 2006