Corporate Accountability in Bankruptcy Act

Summary

Corporate Accountability in Bankruptcy Act - Amends Federal bankruptcy law to permit a bankruptcy trustee to avoid any transfer made within one year before the date of the filing of the bankruptcy petition to an insider, officer, or director for bonuses, loans, nonqualified deferred compensation, or other extraordinary or excessive compensation. Permits the bankruptcy trustee to avoid any transfer of specified assets made or obligation incurred on or within four years before the filing of the petition for relief, or that involves: (1) a violation of securities laws; or (2) fraud, deceit, or manipulation in either a fiduciary capacity, or in connection with the purchase or sale of registered securities.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 April 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 April 2003

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• Introduced in Senate

  summary · EN · 9 April 2003

  Open at official source

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