S. 2092 would amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies.

== Detailed Summary ==

<summary>
(LogProtecting Employees and Retirees in Business Bankruptcies Act of 2007 - Amends federal bankruptcy law to editincrease the wikimaximum amount per individual or corporation of unsecured claims ranked in the fourth (wages, salaries, or commissions) and befifth (employee benefit plan contributions) order of priority.

Includes within the firstscope of a claim in bankruptcy certain equity securities held in a defined contribution plan for the benefit of certain individuals.

Ranks in sixth order of priority the diminished value of debtor's equity securities held in a defined contribution plan if the employer or plan sponsor committed fraud regarding the plan.

Permits within administrative expenses certain severance pay for termination or layoffs.

Prohibits certain senior executive compensation from being disproportionate in light of economic concessions by debtor's nonmanagement workforce.

Disallows as an administrative expense specified executive compensation enhancements.

Revises requirements governing: (1) rejection of collective bargaining agreements; (2) insurance benefits for retired employees; and (3) the status of certain employee benefits in a sale of business assets.

Allows defined benefit plan participants to providefile claims for certain shortfalls in pension benefits.

Permits inclusion within the necessary costs and expenses of preserving property the mandatory recovery of unpaid obligations owed to employees.

Directs the court to consider the extent to which alternative reorganization plans maintain: (1) jobs; (2) defined benefit plans; and (3) retiree health benefits.

Prohibits assumption of deferred compensation for the benefit of insiders or senior management if an employee defined benefit plan has been terminated.

Limits the recovery of executive compensation if the debtor has reduced its contractual obligations under either a detailed summarycollective bargaining agreement or retiree benefits plan.

Excepts from an automatic stay: (1) a dispute resolution proceeding established by a collective bargaining agreement prior to commencement of bankruptcy; or (2) an award or settlement under such proceeding.

Authorizes the bill!)bankruptcy trustee to avoid transfers made for the benefit of an insider or certain consultants in anticipation of bankruptcy.

Revises prerequisites to court confirmation of a business reorganization plan which continues retiree benefits.
</summary>

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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 9/25/2007: Referred to edit the wikiSenate committee. Status: Read twice and be the firstreferred to update the status ofCommittee on the bill!)Judiciary.
</status>

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== Points in Favor ==

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== Points Against ==

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