H.R. 2609 Equal Treatment of Pensions and Bankruptcy Act of 2003
HR 2609 IH
June 26, 2003
Mr. CONYERS introduced the following bill; which was referred to the Committee on the Judiciary
- Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
- This Act may be cited as the `Equal Treatment of Pensions and
Bankruptcy Act of 2003'.
SECTION 2. AVOIDANCE OF CERTAIN TRANSFERS; ALTERNATE PROSECUTION OF ACTION.
- Section 547 of title 11, United States Code, is amended by
adding at the end the following:
- `(h) Notwithstanding subsections (b) and (c), the trustee may
avoid a transfer of a debtor's interest in property to any trust or
similar arrangement to fund supplemental retirement benefits or other
deferred compensation for the benefit of an insider or other management
employee made on or within one year before the date of the filing of the
- `(i) If the trustee consents or fails to commence a proceeding
authorized under section 506, 543, 544, 545, 547, 548, 549, 550, 552,
553, or 724, on request of a party in interest or a committee of
creditors appointed under section 1102 of this title, after notice and a
hearing, the court may authorize such party in interest or committee of
creditors to commence and prosecute such proceeding if the court finds
that commencing and prosecuting such proceeding is in the best interest
of the estate and for the benefit of the estate.'.
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