108th CONGRESS
1st Session
H. R. 2609
To amend title 11, United States Code, to provide for the avoidance
of certain transfers, and the alternate prosecution of certain actions, relating
to certain retirement benefits.
IN THE HOUSE OF REPRESENTATIVES
June 26, 2003
Mr. CONYERS introduced the following bill; which was referred to the Committee
on the Judiciary
A BILL
To amend title 11, United States Code, to provide for the avoidance
of certain transfers, and the alternate prosecution of certain actions, relating
to certain retirement benefits.
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 petition.
`(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.'.
END
