BANKRUPTCY

Analyses

Dispense with Bankruptcy Requirement of Providing Assurance of Payment for Utility Services Under Certain Circumstances (H.R. 5132), E1187 [17JY]

Financial Institution Bankruptcy Act (H.R. 5421), H8179–H8181 [1DE]

Bills and resolutions

American Airlines, Inc.: allow employees to contribute recently received bankruptcy settlements into retirement accounts without incurring a tax penalty (see S. 2614), S4557 [16JY]

Business and industry: improve protections for employees and retirees in business bankruptcies (see S. 2589), S4404 [10JY]

——— limit ability of companies in bankruptcy to reduce or terminate wages or benefits, require continuation of health benefits, and provide information on duration of health benefits (see S. 2418), S3367 [3JN]

Claims: require disclosure and filing by certain trusts of quarterly reports that contain detailed information on receipt and disposition of claims for injuries based on exposure to asbestos (see S. 2319), S2910 [12MY]

Colleges and universities: stop abusive student loan collection practices in bankruptcy cases (see H.R. 4835), H5318 [11JN]

Credit: establish requirements for treatment of a private education loan upon the death or bankruptcy of a cosigner of the loans (see H.R. 4511), H3291 [29AP] (see H.R. 4643), H4058 [9MY]

——— limit investor and homeowner losses in foreclosures (see H.R. 4596), H3939 [7MY]

Dept. of Agriculture: extend the term of marketing assistance loans in cases in which a purchaser has bought the loan commodity subject to the loan and declared bankruptcy prior to paying for the loan commodity (see S. 2815), S5628 [16SE] (see H.R. 5542), H7882 [18SE]

Dept. of Education: allow higher education institutions that have previously filed for bankruptcy to apply for reinstatement of Federal Pell Grant Program eligibility (see H.R. 5191), H6813 [24JY]

Financial institutions: establish the prudential regulator of community and independent depository institutions as the conduit and arbiter of all Federal financial oversight, examination, and reporting (see S. 2242), S2378 [10AP]

——— facilitate the resolution of an insolvent financial institution in bankruptcy (see H.R. 5421), H7387 [9SE]

Firearms: exempt from claims of creditors (see H.R. 3933), H1431 [27JA]

Government regulations: dispense with requirement of providing assurance of payment for utility services under certain circumstances (see H.R. 5132), H6397 [17JY]

Health: provide protections for medically distressed debtors (see S. 2471), S3668 [12JN] (see H.R. 4917), H5557 [19JN]

Local government: improve protection for employees and retirees in municipal bankruptcies (see H.R. 5133), H6397 [17JY]

Puerto Rico: treat as a State relative to authorizing certain government-owned corporations to restructure their debt obligations under certain bankruptcy proceedings (see H.R. 5305), H7181 [31JY]

Taxation: exclude from gross income any discharge of consumer indebtedness (see H.R. 5637), H7886 [18SE]

Letters

MF Global Inc., liquidation customer claim payment: James W. Giddens, EPIQ Bankruptcy Solutions, LLC, H5630 [23JN]

Remarks in House

Dept. of Education: include in revised counseling requirements for certain student loan borrowers information regarding how Federal and private student loans are treated in bankruptcy, H6766 [24JY]

Dept. of Energy: prohibit funding to any entity that has commenced title 11 bankruptcy proceedings, H6070 [10JY]

Financial institutions: facilitate the resolution of an insolvent financial institution in bankruptcy (H.R. 5421), H8174–H8181 [1DE]

——— provide a process to allow financial institutions to go bankrupt (S. 1861), H8179 [1DE]

Government regulations: dispense with requirement of providing assurance of payment for utility services under certain circumstances (H.R. 5132), E1187, E1193 [17JY]

Remarks in Senate

American Airlines, Inc.: allow employees to contribute recently received bankruptcy settlements into retirement accounts without incurring a tax penalty (S. 2614), S6517 [10DE], S6683 [11DE]

Reports filed

Financial Institution Bankruptcy Act: Committee on the Judiciary (House) (H.R. 5421) (H. Rept. 113–630), H8225 [1DE]

Texts of

H.R. 5421, Financial Institution Bankruptcy Act, H8174–H8177 [1DE]

S. 2589, Protecting Employees and Retirees in Business Bankruptcies Act, S4410–S4414 [10JY]

S. 2614, allow American Airlines, Inc., employees to contribute recently received bankruptcy settlements into retirement accounts without incurring a tax penalty, S6518 [10DE]