3.0.0 2370 2019-11-15T21:59:49Z 2019-11-15T21:59:49Z Senate S S 2012-04-26 112 ssju00 Judiciary Committee Senate Standing Reported by 2012-05-24T20:52:27Z Markup by 2012-05-24T15:45:53Z Referred to 2012-04-26T15:18:14Z 2012-05-24 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 416. Calendars 2012-05-24 ssju00 Judiciary Committee Senate Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report. Committee 2012-05-24 Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report. Committee 14000 9 Library of Congress ssju00 Judiciary Committee 2012-05-24 ssju00 Judiciary Committee Senate Committee on the Judiciary. Ordered to be reported without amendment favorably. Committee 2012-04-26 ssju00 Judiciary Committee Senate Read twice and referred to the Committee on the Judiciary. IntroReferral 2012-04-26 Introduced in Senate IntroReferral 10000 9 Library of Congress W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. 2012-04-26 True Finance and Financial Sector Bankruptcy Business records Congressional oversight Small business Finance and Financial Sector 00 2012-04-26 Introduced in Senate 2012-07-09T20:21:39Z Small Business Reorganization Efficiency and Clarity Act - Amends federal bankruptcy law to extend from 45 to 90 days the time within which the bankruptcy court must confirm a small business bankruptcy plan under chapter 11 (Reorganization).

Modifies small business debtor reporting requirements to repeal the requirement for periodic filing of financial and other reports containing such other matters as are in the best intrests of the debtor and creditors and in the public interest.

Modifies restrictions on employment by a trustee of professional persons to declare a person is not disqualified for such employment by a small business debtor solely because the person holds a claim of less than $5,000 that arose before commencement of the case in bankruptcy.

Modifies requirements for debtor conversion from chapter 11 to chapter 7 (Liquidation), or for dismissal in chapter 11, for cause to include within the scope of "cause" the failure of a small business debtor to designate itself as a small business debtor.

Instructs the Comptroller General to report to Congress detailing: (1) the number and percentage of all cases filed under chapter 11 in which the debtor is a small business debtor, and (2) recommendations for improving the confirmation rate for small business debtors.

]]> 80 2012-05-24 Reported to Senate without amendment 2012-07-24T19:42:43Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Small Business Reorganization Efficiency and Clarity Act - (Sec. 2) Amends federal bankruptcy law to extend from 45 to 90 days the time within which the bankruptcy court must confirm a small business bankruptcy plan under chapter 11 (Reorganization).

(Sec. 3) Modifies small business debtor reporting requirements to repeal the requirement for periodic filing of financial and other reports containing such other matters as are in the best interests of the debtor and creditors and in the public interest.

(Sec. 4) Modifies restrictions on employment by a trustee of professional persons to declare a person is not disqualified for such employment by a small business debtor solely because the person holds a claim of less than $5,000 that arose before commencement of the case in bankruptcy.

(Sec. 5) Modifies requirements for debtor conversion from chapter 11 to chapter 7 (Liquidation), or for dismissal in chapter 11, for cause to include within the scope of "cause" the failure of a small business debtor to designate itself as a small business debtor.

(Sec. 6) Instructs the Comptroller General to report to Congress detailing: (1) the number and percentage of all cases filed under chapter 11 in which the debtor is a small business debtor, and (2) recommendations for improving the confirmation rate for small business debtors.

]]> Small Business Reorganization Efficiency and Clarity Act Short Titles as Introduced Small Business Reorganization Efficiency and Clarity Act Short Titles as Reported to Senate Small Business Reorganization Efficiency and Clarity Act S Senate Display Title Small Business Reorganization Efficiency and Clarity Act Official Title as Introduced A bill to amend title 11, United States Code, to make bankruptcy organization more efficient for small business debtors, and for other purposes. Reported to Senate 2012-05-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s2370rs/xml/BILLS-112s2370rs.xml Introduced in Senate 2012-04-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s2370is/xml/BILLS-112s2370is.xml 2012-05-24 Placed on Senate Legislative Calendar under General Orders. Calendar No. 416. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.