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S. 2820 (107th): A bill to increase the priority dollar amount for unsecured claims, and for other purposes.


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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


7/30/2002--Introduced. Amends Federal bankruptcy law to increase from $4,650 to $13,500 the maximum amount of a claim to recover employee wages and benefits that has priority ranking among unsecured creditor claims.Authorizes the bankruptcy court to avoid any transfer of compensation paid to an employee, officer, or member of the board of directors of a debtor in the 90 days preceding the bankruptcy petition date if the court finds that the compensation is either out of the ordinary course of business, or that it constitutes unjust enrichment.