HR 9223
Nondebtor Release Prohibition Act of 2024
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- Passed House
- Passed Senate
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Bill overview
The Nondebtor Release Prohibition Act of 2024 aims to prevent the release of liability for entities other than the debtor in bankruptcy cases. Specifically, it restricts courts from approving or ordering the discharge, release, or modification of debts or claims held by non-debtor entities. The bill also establishes a process for appealing stays on such actions and addresses divisional mergers to prevent the separation of assets and liabilities in a way that could lead to non-debtor releases. Finally, it sets a 90-day limit on temporary stays related to such claims.
Sponsors
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Primary sponsor
Cosponsors
Eleanor Holmes [D-DC-At Large] Norton
Henry C. "Hank" Johnson
Katie Porter
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