Innocent Supplier Fairness Act
Latest action · Feb 6, 2006 Referred to the Subcommittee on Commercial and Administrative Law.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 10, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 20
Members who signed on, in the order they did. Signatures ran from Nov 10, 2005 to Apr 6, 2006; 18 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-LA | Charles W. Boustany, Jr. | Original | Nov 10, 2005 |
| R-CA | Dana Rohrabacher | Original | Nov 10, 2005 |
| R-NC | Howard Coble | Original | Nov 10, 2005 |
| R-SC | Joe Wilson | Original | Nov 10, 2005 |
| R-TX | John Abney Culberson | Original | Nov 10, 2005 |
| R-AZ | John B. Shadegg | Original | Nov 10, 2005 |
| R-IN | John N. Hostettler | Original | Nov 10, 2005 |
| R-NY | John R. "Randy" Kuhl Jr. | Original | Nov 10, 2005 |
| R-TX | Kenny Marchant | Original | Nov 10, 2005 |
| R-TX | Louie Gohmert | Original | Nov 10, 2005 |
| R-GA | Lynn A. Westmoreland | Original | Nov 10, 2005 |
| R-TX | Michael T. McCaul | Original | Nov 10, 2005 |
| R-IN | Mike Pence | Original | Nov 10, 2005 |
| R-KS | Todd Tiahrt | Original | Nov 10, 2005 |
| R-OK | Tom Cole | Original | Nov 10, 2005 |
| R-AZ | Trent Franks | Original | Nov 10, 2005 |
| R-NC | Virginia Foxx | Original | Nov 10, 2005 |
| R-NC | Walter B. Jones | Original | Nov 10, 2005 |
| R-IN | Mark E. Souder | Mar 2, 2006 | |
| R-NY | John M. McHugh | Apr 6, 2006 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Judiciary Committee | Referred Nov 10, 2005 |
| Commercial and Administrative Law Subcommittee | Referred Feb 6, 2006 |
Actions 3
Everything that happened, newest first.
- Feb 6, 2006Referred to the Subcommittee on Commercial and Administrative Law.
- Nov 10, 2005Introduced in House
- Nov 10, 2005Referred to the House Committee on the Judiciary.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend title 11 of the United States Code with respect to avoidable preferences; and to amend title 28 of the United States Code with respect to venue for proceedings to avoid preferences under section 547 of title 11 of the United States Code.
- Short Titles as Introduced
- Innocent Supplier Fairness Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Nov 10, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.