Corporate Accountability in Bankruptcy Act

Read twice and referred to the Committee on the Judiciary.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Apr 9, 2003

Corporate Accountability in Bankruptcy Act - Amends Federal bankruptcy law to permit a bankruptcy trustee to avoid any transfer made within one year before the date of the filing of the bankruptcy petition to an insider, officer, or director for bonuses, loans, nonqualified deferred compensation, or other extraordinary or excessive compensation.

Permits the bankruptcy trustee to avoid any transfer of specified assets made or obligation incurred on or within four years before the filing of the petition for relief, or that involves: (1) a violation of securities laws; or (2) fraud, deceit, or manipulation in either a fiduciary capacity, or in connection with the purchase or sale of registered securities.

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People & committees

Who introduced it

Sen. Grassley, Chuck [R-IA] · R–IA

Committees

Judiciary Committee

1 cosponsorship records, including any withdrawals

Sen. Leahy, Patrick J. [D-VT]

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Apr 9, 2003
Read twice and referred to the Committee on the Judiciary.
Apr 9, 2003
Sponsor introductory remarks on measure. (CR S5068-5069)
Apr 9, 2003
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Apr 9, 2003 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 10, 2026. Consult Congress.gov for the current record.

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Objective

Analyze S.832 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.832, 108th Congress: Corporate Accountability in Bankruptcy Act

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/832

Text version to examine: Introduced in Senate · 2003-04-09.

Official full text: https://www.congress.gov/108/bills/s832/BILLS-108s832is.htm

Imported record last updated by the source: 2026-08-10T11:53:04Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.832 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.832 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.832, 108th Congress: Corporate Accountability in Bankruptcy Act

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/832

Text version to examine: Introduced in Senate · 2003-04-09.

Official full text: https://www.congress.gov/108/bills/s832/BILLS-108s832is.htm

Imported record last updated by the source: 2026-08-10T11:53:04Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.832 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.832 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.832, 108th Congress: Corporate Accountability in Bankruptcy Act

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/832

Text version to examine: Introduced in Senate · 2003-04-09.

Official full text: https://www.congress.gov/108/bills/s832/BILLS-108s832is.htm

Imported record last updated by the source: 2026-08-10T11:53:04Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.832 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.832 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.832, 108th Congress: Corporate Accountability in Bankruptcy Act

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/832

Text version to examine: Introduced in Senate · 2003-04-09.

Official full text: https://www.congress.gov/108/bills/s832/BILLS-108s832is.htm

Imported record last updated by the source: 2026-08-10T11:53:04Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.832 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.