Referred to the Committee on the Judiciary, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Summary
The bill changes the federal bankruptcy code so that oil, gas and coal companies in Chapter 11 must satisfy existing environmental reclamation obligations before other debts are paid. It also makes executives, private‑equity owners, parent companies and hedge funds potentially liable if the estate lacks funds. The goal is to stop companies from using bankruptcy to escape cleanup responsibilities.
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