To amend section 303 of title 11, United States Code, with respect to the sealing and expungement of court records relating to fraudulent involuntary bankruptcy petitions.
What it does: Adds SEC. 332. FRAUDULENT INVOLUNTARY BANKRUPTCY on page 205, between lines 16 and 17
Sen. Russell D. Feingold (D-WI)Adds SEC. 332. FRAUDULENT INVOLUNTARY BANKRUPTCY on page 205, between lines 16 and 17
Adds a sectionPrinted pageInserted: SEC. 332. FRAUDULENT INVOLUNTARY BANKRUPTCY.
Inserted: (a) Short Title.--This section may be cited as the "Involuntary Bankruptcy Improvement Act of 2005".
Inserted: (b) Involuntary Cases.--Section 303 of title 11, United States Code, is amended by adding at the end the following:
Inserted: "(l)(1) If--
Inserted: "(A) the petition under this section is false or contains any materially false, fictitious, or fraudulent statement;
Inserted: "(B) the debtor is an individual; and
Inserted: "(C) the court dismisses such petition, the court, upon the motion of the debtor, shall seal all the records of the court relating to such petition, and all references to such petition.
Inserted: "(2) If the debtor is an individual and the court dismisses a petition under this section, the court may enter an order prohibiting all consumer reporting agencies (as defined in section 603(f) of the Fair Credit Reporting Act (15 U.S.C. 1681a(f))) from making any consumer report (as defined in section 603(d) of that Act) that contains any information relating to such petition or to the case commenced by the filing of such petition.
Inserted: "(3) Upon the expiration of the statute of limitations described in section 3282 of title 18, for a violation of section 152 or 157 of such title, the court, upon the motion of the debtor and for good cause, may expunge any records relating to a petition filed under this section.".
Inserted: (c) Bankruptcy Fraud.--Section 157 of title 18, United States Code, is amended by inserting ", including a fraudulent involuntary bankruptcy petition under section 303 of such title" after "title 11".
Original wording
On page 205, between lines 16 and 17, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 91. Mr. FEINGOLD submitted an amendment intended to be proposed by him to the bill S. 256, to amend title 11 of the United States Code, and for other purposes; as follows:
On page 205, between lines 16 and 17, insert the following:
SEC. 332. FRAUDULENT INVOLUNTARY BANKRUPTCY.
(a) Short Title.--This section may be cited as the “Involuntary Bankruptcy Improvement Act of 2005”.
(b) Involuntary Cases.--Section 303 of title 11, United States Code, is amended by adding at the end the following:
“(l)(1) If--
“(A) the petition under this section is false or contains any materially false, fictitious, or fraudulent statement;
“(B) the debtor is an individual; and
“(C) the court dismisses such petition, the court, upon the motion of the debtor, shall seal all the records of the court relating to such petition, and all references to such petition.
“(2) If the debtor is an individual and the court dismisses a petition under this section, the court may enter an order prohibiting all consumer reporting agencies (as defined in section 603(f) of the Fair Credit Reporting Act (15 U.S.C. 1681a(f))) from making any consumer report (as defined in section 603(d) of that Act) that contains any information relating to such petition or to the case commenced by the filing of such petition.
“(3) Upon the expiration of the statute of limitations described in section 3282 of title 18, for a violation of section 152 or 157 of such title, the court, upon the motion of the debtor and for good cause, may expunge any records relating to a petition filed under this section.”.
(c) Bankruptcy Fraud.--Section 157 of title 18, United States Code, is amended by inserting “, including a fraudulent involuntary bankruptcy petition under section 303 of such title” after “title 11”.
Legislative Activity
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Senate amendment agreed to: Amendment SA 91 agreed to in Senate by Unanimous Consent.
March 9, 2005
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Senate amendment agreed to: Amendment SA 91 agreed to in Senate by Unanimous Consent.
March 9, 2005
Considered by Senate. (consideration: CR S2307, S2342)
March 9, 2005
Amendment SA 91 agreed to in Senate by Unanimous Consent.
March 9, 2005
Considered by Senate. (consideration: CR S2200)
March 8, 2005
Senate amendment submitted
March 7, 2005
Senate amendment proposed (on the floor): Amendment SA 91 proposed by Senator Feingold.
March 7, 2005
Amendment SA 91 proposed by Senator Feingold. (consideration: CR S2134-2138; text: CR S2135-2136) To amend section 303 of title 11, United States Code, with respect to the sealing and expungement of court records relating to fraudulent involuntary bankruptcy petitions.
March 7, 2005