A bill to increase the priority dollar amount for unsecured claims, and for other purposes.

Hozzl · 2023-01-16T03:47:56Z

Explore the details of Senate Bill 2820 A bill to increase the priority dollar amount for unsecured claims, and for other purposes. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

1/16/2023, 3:47 AM

Congressional Summary of S 2820

Amends Federal bankruptcy law to increase from $4,650 to $13,500 the maximum amount of a claim to recover employee wages and benefits that has priority ranking among unsecured creditor claims.

Authorizes the bankruptcy court to avoid any transfer of compensation paid to an employee, officer, or member of the board of directors of a debtor in the 90 days preceding the bankruptcy petition date if the court finds that the compensation is either out of the ordinary course of business, or that it constitutes unjust enrichment.

Current Status of Bill S 2820

Bill S 2820 is currently in the status of Bill Introduced since July 30, 2002. Bill S 2820 was introduced during Congress 107 and was introduced to the Senate on July 30, 2002. Bill S 2820's most recent activity was Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S7581) as of July 30, 2002