H.R. 4296 · 109th Congress
Innocent Supplier Fairness Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
20 cosponsors · 20 R
R
Boustany
HC
R
Coble
JC
R
Culberson
TC
R
Cole
TF
R
Franks
VF
R
Foxx
LG
R
Gohmert
JHR
Hostettler
WJ
R
Jones
RK
R
Kuhl
MM
R
McCaul
KM
R
Marchant
MP
R
Pence
DR
R
Rohrabacher
JS
R
Shadegg
TT
R
Tiahrt
JW
R
Wilson
LW
R
Westmoreland
MS
R
Souder
JM
R
McHugh18 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Innocent Supplier Fairness Act - Amends federal bankruptcy law to detail the elements of a special relationship that the trustee in bankruptcy must prove in order to rebut the presumption that the creditor or party in interest against whom recovery or avoidance is sought has carried the burden of proving the nonavoidability of a transfer.
What it does: CRS summary · Introduced in House · Nov 10, 2005
Innocent Supplier Fairness Act - Amends federal bankruptcy law to detail the elements of a special relationship that the trustee in bankruptcy must prove in order to rebut the presumption that the creditor or party in interest against whom recovery or avoidance is sought has carried the burden of proving the nonavoidability of a transfer.
Specifies such elements as: (1) the insider character of the creditor or the party in interest; (2) common ownership of the debtor and such creditor or such party; (3) common management of the debtor and creditor or party consisting of overlapping senior management or directors; (4) explicit notice from the debtor to such creditor or party that a petition filling is contemplated or imminent before the date of the transfer; or (5) the use by such creditor or party of judicial process, during the 90 days before the petition filing, against the debtor to collect a debt with respect to which a transfer may have been made.
Amends the federal judicial code to require the trustee in bankruptcy to commence a proceeding to avoid preferences only in the district court for the district in which the defendant resides.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Innocent Supplier Fairness Act
Latest action (Feb 6, 2006): Referred to the Subcommittee on Commercial and Administrative Law.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 10, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.