Corporate Bankruptcy Reform sign now

Senators Bayh and Conyers have proposed reform legislation to bankruptcy laws. The bill is the fairness and accountability in reorganizations act of 2006, numbered S 2336 and H.R. 5113. The bill amends title 11, United States Code, with respect to reform of executive compensation in corporate bankruptcies.

The bill finds with ever increasing incident, when corporations file chapter 11, they request legal sacrifices from obligations to workers, retirees, creditors, and former stakeholders. Meanwhile executives reward themselves and key employees with huge bonuses and other lucrative forms of compensation.

Section 2:3 and section 4 of the bill would require that corporations not seek to reward themselves on the backs of workers.

Section 2:4 and section 5 would require judges evaluate foreign operations and investments when deciding rather sacrifices by American workers and retirees are necessary.

Section 2:5 and section 5 creates corporate fairness and accountability and a new partnership for the future for the American workforce.

We, the people of the United States of America, support these important amendments to corporate bankruptcy law and urge our representatives and senators to show support for this important legislation. We believe deliberation of fairness and justice to not only corporate citizens, but also to the working class of the united states of America more closely reflects the interests of the United States of America.

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Samuel PerryBy:
Nature and EnvironmentIn:
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U.S. Congress

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