Political Quotes

“this amendment establishes the priority for expenses and claims of bankruptcy as it relates to independent sales representatives. Section 507 of title 11 of the Bankruptcy Code provides for the priority order for expenses and claims in bankruptcy. The third priority set out in this section, specifically section 507(a)3, is for unsecured claims up to $2,000 for wages, salaries or commissions, including vacation, severance and sick leave pay earned by individuals within 90 days before the bankruptcy petition was filed or the date of cessation of the debtor's business, whichever comes first. The purpose of this priority is to ensure that employees, including those who work on commission, are provided a minimum degree of protection when their employer files for bankruptcy. Under current law, other individuals who derive their income as independent sales representatives by selling products or goods for the debtor firm are not provided any protection for their loss of income when the firm files for bankruptcy. My amendment would amend this section to include the independent sales representatives and permit them to enjoy the same status as a commissioned sales employee of a debtor firm which goes into bankruptcy.”