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Code · BILL · 116th Congress · H.R. 7370 (Introduced in House) — To amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies. · Sec. 1

Sec. 1. Short title; table of contents

212 words·~1 min read·/bill/116/hr/7370/ih/section-1·

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This Act may be cited as the . Protecting Employees and Retirees in Business Bankruptcies Act of 2020 The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Findings. Title I—IMPROVING RECOVERIES FOR EMPLOYEES AND RETIREES Sec. 101. Increased wage priority. Sec. 102. Claim for stock value losses in defined contribution plans. Sec. 103. Priority for severance pay and contributions to employee benefit plans. Sec. 104. Financial returns for employees and retirees.
Sec. 105. Priority for WARN Act damages. Title II—REDUCING EMPLOYEES’ AND RETIREES’ LOSSES Sec. 201. Rejection of collective bargaining agreements. Sec. 202. Payment of insurance benefits to retired employees. Sec. 203. Protection of employee benefits in a sale of assets. Sec. 204. Claim for pension losses. Sec. 205. Payments by secured lender. Sec. 206. Preservation of jobs and benefits. Sec. 207. Termination of exclusivity. Title III—RESTRICTING EXECUTIVE COMPENSATION PROGRAMS Sec. 301.
Executive compensation upon exit from bankruptcy. Sec. 302. Limitations on executive compensation enhancements. Sec. 303. Prohibition against special compensation payments. Sec. 304. Assumption of executive benefit plans. Sec. 305. Recovery of executive compensation. Title IV—OTHER PROVISIONS Sec. 401. Union proof of claim. Sec. 402. Exception from automatic stay. Sec. 403. Effect on collective bargaining agreements under the Railway Labor Act.
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