House Judiciary Committee Announces Series of Hearings On Bankruptcy Reforms - U.S. House of Representatives Judiciary Committee

8/5/2021 House Judiciary Committee Announces Series of Hearings on Bankruptcy Reforms | U.S.
House of Representatives Judiciary Committee
Press Releases
House Judiciary Committee Announces Series of Hearings on
Bankruptcy Reforms
Hearings Will Focus on Reforms to Bankruptcy Law That Will Protect
the Economic Security of American Workers, Consumers, and
Families
Washington,
July 21, 2021
Washington, D.C. - Today, the House Judiciary Subcommittee on Antitrust,

Commercial, and Administrative Law announced it will hold a series of hear-
ings to consider potential reforms to bankruptcy law. The first hearing, enti-
tled "Oversight of the Bankruptcy Code, Part 1: Confronting Abuses of the
Chapter 11 System," will take place on Wednesday, July 28th at 10 AM EDT.
"The bankruptcy process is supposed to guarantee a fresh start and a fair

deal," said Chairman Jerrold Nadler and Subcommittee Chairman David
N. Cicilline. "But too often it is used to protect corporate wrongdoers at the
expense of victims, workers, retirees, homeowners, and consumers. Whether
you are a victim of the opioid crisis, a survivor of sexual assault, part of a family
struggling to keep your home or dragged down by student loans, a worker
who relied on your employer’s promise of retirement benefits, or an en-
trepreneur trying to save your small business, the bankruptcy system should
https://judiciary.house.gov/news/documentsingle.aspx?DocumentID=4661 1/4
8/5/2021 House Judiciary Committee Announces Series of Hearings on Bankruptcy Reforms | U.S. House of Representatives Judiciary Committee
work for all Americans. These hearings will allow us to consider legislation to
ensure that the bankruptcy laws function effectively to support the economy,
provide a meaningful option of last resort for individuals and businesses, and
are not abused to deprive people of their rights."
The hearings will examine potential reforms to both the consumer and com-
mercial bankruptcy systems, including the use of nonconsensual nondebtor
releases, student loan bankruptcy, racial disparities in the use of the con-
sumer bankruptcy system, the rights of workers in the bankruptcy process,
the role of the U.S. Trustee Program, as well as other potential topics.
The Subcommittee plans to call consumer and commercial bankruptcy ex-

perts, individuals affected by the bankruptcy process, and other knowledge-
able witnesses to assist with the development of legislation. Among other
topics, the first hearing will address:
The use of nonconsensual nondebtor releases and preliminary injunc-

tions to immunize responsible parties not in bankruptcy from liability for
their wrongful acts;
The use of corporate spinoffs and other reorganizations to shield assets

from the bankruptcy process;
The payment of large executive bonuses by companies in bankruptcy or

on the verge of bankruptcy; and
The use of the bankruptcy process as device to reduce wages, slash ben-
efits, and jettison pension obligations.
LATEST PHOTOS
LATEST VIDEOS
Oversight of the Bankruptcy Code, Part 1...

July 28, 2021
LATEST TWEETS
RT @RepJerryNadler: This is a devastating

loss. Richard was a champion of workers
everywhere. Whenever there was a push to
improve working…
 a minute ago
RT @RepHankJohnson:
@HouseDemocrats have been busy
passing landmark bills that: ✅ Boost our
economy
🗳 Strengthen our democracy
and voting…
 18 hours ago
LATEST POSTS
Dreamers, TPS holders, farm workers,

and...
July 30, 2021
Rep. Hakeem Jeffries discusses the

EQUAL...
July 21, 2021
U.S. House Committee On The

Judiciary
Committee Hearing Room

2141 Rayburn House Office Building
Washington, D.C. 20515
202-225-3951
Rayburn Staff Office

2138 Rayburn House Office Building
Washington, D.C. 20515
202-225-3951
Please sign up for updates from our committee
SUBSCRIBE
ACCESSIBILITY
COPYRIGHT
PRIVACY
TOOLS
MINORITY WEBSITE
     

House Judiciary Committee Announces Series of Hearings On Bankruptcy Reforms - U.S. House of Representatives Judiciary Committee

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

House Judiciary Committee Announces Series of Hearings On Bankruptcy Reforms - U.S. House of Representatives Judiciary Committee

Uploaded by

Copyright:

Available Formats

8/5/2021 House Judiciary Committee Announces Series of Hearings on Bankruptcy Reforms | U.S.

House of Representatives Judiciary Committee

Washington, D.C. - Today, the House Judiciary Subcommittee on Antitrust,

"The bankruptcy process is supposed to guarantee a fresh start and a fair

The Subcommittee plans to call consumer and commercial bankruptcy ex-

The use of nonconsensual nondebtor releases and preliminary injunc-

The use of corporate spinoffs and other reorganizations to shield assets

The payment of large executive bonuses by companies in bankruptcy or

Oversight of the Bankruptcy Code, Part 1...

RT @RepJerryNadler: This is a devastating

Dreamers, TPS holders, farm workers,

Rep. Hakeem Jeffries discusses the

U.S. House Committee On The

Committee Hearing Room

Washington, D.C. 20515

Rayburn Staff Office

Washington, D.C. 20515

Please sign up for updates from our committee

You might also like