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SACKLER Act

USA117th CongressHR-2096| House 
| Updated: 10/19/2021
Carolyn B. Maloney

Carolyn B. Maloney

Democratic Representative

New York

Cosponsors (63)
Brenda L. Lawrence (Democratic)Chris Pappas (Democratic)Barbara Lee (Democratic)Robin L. Kelly (Democratic)Ritchie Torres (Democratic)Mark Pocan (Democratic)Abigail Davis Spanberger (Democratic)James R. Langevin (Democratic)Lisa Blunt Rochester (Democratic)David N. Cicilline (Democratic)David J. Trone (Democratic)Jackie Speier (Democratic)Mondaire Jones (Democratic)David Scott (Democratic)Andy Levin (Democratic)Madeleine Dean (Democratic)Katherine M. Clark (Democratic)Paul Tonko (Democratic)John P. Sarbanes (Democratic)Rosa L. DeLauro (Democratic)Ann Kirkpatrick (Democratic)Danny K. Davis (Democratic)Peter A. DeFazio (Democratic)Jake Auchincloss (Democratic)Ro Khanna (Democratic)Alan S. Lowenthal (Democratic)Ann M. Kuster (Democratic)Henry C. "Hank" Johnson (Democratic)André Carson (Democratic)Stephen F. Lynch (Democratic)Mark DeSaulnier (Democratic)Jim Cooper (Democratic)Jahana Hayes (Democratic)Raja Krishnamoorthi (Democratic)Mark Takano (Democratic)Kathy Castor (Democratic)Eleanor Holmes Norton (Democratic)Mary Gay Scanlon (Democratic)Richard E. Neal (Democratic)Jamie Raskin (Democratic)Mike Quigley (Democratic)Janice D. Schakowsky (Democratic)Andy Kim (Democratic)James P. McGovern (Democratic)Alexandria Ocasio-Cortez (Democratic)William R. Keating (Democratic)Peter Welch (Democratic)Lori Trahan (Democratic)Charlie Crist (Democratic)Seth Moulton (Democratic)Jesús G. "Chuy" García (Democratic)Frank Pallone (Democratic)Jimmy Gomez (Democratic)Rashida Tlaib (Democratic)Kweisi Mfume (Democratic)Ayanna Pressley (Democratic)Jamaal Bowman (Democratic)Lloyd Doggett (Democratic)Debbie Wasserman Schultz (Democratic)Gerald E. Connolly (Democratic)Katie Porter (Democratic)Susan Wild (Democratic)Cori Bush (Democratic)

Administrative State, Regulatory Reform, and Antitrust Subcommittee, Judiciary Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Stop shielding Assets from Corporate Known Liability by Eliminating non-debtor Releases Act or the SACKLER Act This bill prohibits a bankruptcy court from releasing claims against non-debtors brought by states, tribes, municipalities, or the federal government. However, the bankruptcy court may issue a stay not exceeding 90 days regarding such a claim. Complex bankruptcies may involve creditor claims against non-debtors associated with the debtor, such as the debtor's officers, directors, or employees. Currently, in carrying out a bankruptcy plan, certain courts may release non-debtors from liability (there is a circuit split regarding this practice).
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Timeline
Mar 19, 2021
Introduced in House
Mar 19, 2021
Referred to the House Committee on the Judiciary.
Apr 16, 2021
Sponsor introductory remarks on measure. (CR H1879)
Jul 26, 2021

Latest Companion Bill Action

S 117-2472
Introduced in Senate
Oct 19, 2021
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
  • March 19, 2021
    Introduced in House


  • March 19, 2021
    Referred to the House Committee on the Judiciary.


  • April 16, 2021
    Sponsor introductory remarks on measure. (CR H1879)


  • July 26, 2021

    Latest Companion Bill Action

    S 117-2472
    Introduced in Senate


  • October 19, 2021
    Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Finance and Financial Sector

Related Bills

  • S 117-2472: SACKLER Act
BankruptcyCorporate finance and managementJudicial procedure and administrationSpecialized courts

SACKLER Act

USA117th CongressHR-2096| House 
| Updated: 10/19/2021
Stop shielding Assets from Corporate Known Liability by Eliminating non-debtor Releases Act or the SACKLER Act This bill prohibits a bankruptcy court from releasing claims against non-debtors brought by states, tribes, municipalities, or the federal government. However, the bankruptcy court may issue a stay not exceeding 90 days regarding such a claim. Complex bankruptcies may involve creditor claims against non-debtors associated with the debtor, such as the debtor's officers, directors, or employees. Currently, in carrying out a bankruptcy plan, certain courts may release non-debtors from liability (there is a circuit split regarding this practice).
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 19, 2021
Introduced in House
Mar 19, 2021
Referred to the House Committee on the Judiciary.
Apr 16, 2021
Sponsor introductory remarks on measure. (CR H1879)
Jul 26, 2021

Latest Companion Bill Action

S 117-2472
Introduced in Senate
Oct 19, 2021
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
  • March 19, 2021
    Introduced in House


  • March 19, 2021
    Referred to the House Committee on the Judiciary.


  • April 16, 2021
    Sponsor introductory remarks on measure. (CR H1879)


  • July 26, 2021

    Latest Companion Bill Action

    S 117-2472
    Introduced in Senate


  • October 19, 2021
    Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Carolyn B. Maloney

Carolyn B. Maloney

Democratic Representative

New York

Cosponsors (63)
Brenda L. Lawrence (Democratic)Chris Pappas (Democratic)Barbara Lee (Democratic)Robin L. Kelly (Democratic)Ritchie Torres (Democratic)Mark Pocan (Democratic)Abigail Davis Spanberger (Democratic)James R. Langevin (Democratic)Lisa Blunt Rochester (Democratic)David N. Cicilline (Democratic)David J. Trone (Democratic)Jackie Speier (Democratic)Mondaire Jones (Democratic)David Scott (Democratic)Andy Levin (Democratic)Madeleine Dean (Democratic)Katherine M. Clark (Democratic)Paul Tonko (Democratic)John P. Sarbanes (Democratic)Rosa L. DeLauro (Democratic)Ann Kirkpatrick (Democratic)Danny K. Davis (Democratic)Peter A. DeFazio (Democratic)Jake Auchincloss (Democratic)Ro Khanna (Democratic)Alan S. Lowenthal (Democratic)Ann M. Kuster (Democratic)Henry C. "Hank" Johnson (Democratic)André Carson (Democratic)Stephen F. Lynch (Democratic)Mark DeSaulnier (Democratic)Jim Cooper (Democratic)Jahana Hayes (Democratic)Raja Krishnamoorthi (Democratic)Mark Takano (Democratic)Kathy Castor (Democratic)Eleanor Holmes Norton (Democratic)Mary Gay Scanlon (Democratic)Richard E. Neal (Democratic)Jamie Raskin (Democratic)Mike Quigley (Democratic)Janice D. Schakowsky (Democratic)Andy Kim (Democratic)James P. McGovern (Democratic)Alexandria Ocasio-Cortez (Democratic)William R. Keating (Democratic)Peter Welch (Democratic)Lori Trahan (Democratic)Charlie Crist (Democratic)Seth Moulton (Democratic)Jesús G. "Chuy" García (Democratic)Frank Pallone (Democratic)Jimmy Gomez (Democratic)Rashida Tlaib (Democratic)Kweisi Mfume (Democratic)Ayanna Pressley (Democratic)Jamaal Bowman (Democratic)Lloyd Doggett (Democratic)Debbie Wasserman Schultz (Democratic)Gerald E. Connolly (Democratic)Katie Porter (Democratic)Susan Wild (Democratic)Cori Bush (Democratic)

Administrative State, Regulatory Reform, and Antitrust Subcommittee, Judiciary Committee

Finance and Financial Sector

Related Bills

  • S 117-2472: SACKLER Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
BankruptcyCorporate finance and managementJudicial procedure and administrationSpecialized courts