S.3675 - Small Business Jobs Preservation Act of 2010

A bill to amend chapter 11 of title 11, United States Code, to address reorganization of small businesses. view all titles (2)

All Bill Titles

  • Official: A bill to amend chapter 11 of title 11, United States Code, to address reorganization of small businesses. as introduced.
  • Short: Small Business Jobs Preservation Act of 2010 as introduced.

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  • Past Seven Days: 6
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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
07/29/10
 
 
 
 
 
 
 

Sponsor

Senator

Sheldon Whitehouse

D-RI

No Co-Sponsors

Official Summary

Small Business Jobs Preservation Act of 2010 - Amends federal bankruptcy law to prescribe requirements for reorganization of a small business enterprise debtor. Prescribes components of the reorganization plan, including: (1) appointment and duties of the bankruptcy trustee; (2) rights and

Official Summary

Small Business Jobs Preservation Act of 2010 - Amends federal bankruptcy law to prescribe requirements for reorganization of a small business enterprise debtor. Prescribes components of the reorganization plan, including:
(1) appointment and duties of the bankruptcy trustee;
(2) rights and powers of a debtor in possession;
(3) removal of debtor in possession;
(4) property of the estate in bankruptcy;
(5) a debtor's duties and reporting requirements;
(6) filing and contents of the reorganization plan;
(7) deemed acceptance of a plan by a holder of a claim or interest;
(8) a status conference and confirmation of the reorganization plan;
(9) discharge and modification of the reorganization plan; and
(10) trustee retention and distribution of payments and funds. States that a person is not disqualified for employment as an attorney, accountant, appraiser, auctioneer, or other professional by a small business enterprise debtor solely because such person holds a claim of less than $5,000 that arose before commencement of the case.

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Organizations Supporting S.3675

  • None via MapLight at this time.

Organizations Opposing S.3675

  • National Association of Credit Management
  • Commercial Finance Association
  • American Bankers Association
  • Equipment Leasing and Finance Association
  • Consumer Bankers Association
  • Financial Services Roundtable
  • ...and 1 more. See all.




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