H.R. 10595
Makes private funds liable for debts of firms they own
Certain private funds would share legal responsibility for the liabilities of companies they buy and control, meaning each fund could be held responsible for the full amount owed.
- Applies to certain private funds that acquire and control firms
- Those funds could be held jointly responsible for the firms' liabilities
- Under joint and several liability, one fund could owe the entire amount
In committee