S 2831
Sackler act
Sackler Act
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, known as the Sackler Act, aims to prevent bankruptcy courts from releasing claims against individuals or entities who are not directly involved in a company’s debt – often referred to as ‘non-debtors.’ It specifically targets situations where states, tribes, municipalities, or the federal government are pursuing legal action against these non-debtors within bankruptcy proceedings. The bill allows for a temporary 90-day stay on such actions, but prohibits the court from releasing the non-debtor from liability. This legislation seeks to ensure accountability for those associated with companies facing bankruptcy.
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