Number: RS22427
Title: Executive Compensation in Bankruptcy: The Fairness and Accountability in Reorganizations Act
Authors: Robin Jeweler, American Law Division 
Abstract: S. 2556 and its companion bill, H.R. 5113, 109th Congress, 2nd Sess. (2006), introduced by Senator Bayh and Representative Conyers, respectively, are entitled the Fairness and Accountability in Reorganizations Act of 2006. The legislation, according to its sponsors, is intended to "ensure that workers are treated more fairly during [bankruptcy] reorganizations by limiting executive compensation deals and requiring corporations to provide a more accurate picture of their holdings before attempting to modify collective bargaining agreements or promised health benefits."
Pages: 5
Date: April 20, 2006