The Bankruptcy Venue Reform Act is a federal bill aimed at reforming the venue selection process for bankruptcy cases. It seeks to prevent companies from filing for bankruptcy in jurisdictions that are perceived to be more favorable to their interests, often referred to as "forum shopping." The main provisions of the bill include limiting where a company can file for bankruptcy based on its principal place of business or principal assets. This reform is intended to promote fairness and efficiency in the bankruptcy system by ensuring cases are heard in venues that have a closer connection to the debtor's operations. If enacted, this bill could significantly impact how and where bankruptcies are filed, potentially reducing forum shopping and promoting greater consistency in bankruptcy proceedings nationwide.
2023-02-14: Introduced in House
2023-02-14: Referred to the House Committee on the Judiciary.
Contribute Your Insights: Add a Unique Perspective to Political Bills. Your Contribution will be Featured Below the Primary Bill, Ordered by Date Added.
No Reviews found ..