Legis Daily

Bankruptcy Venue Reform Act

USA118th CongressHR-1017| House 
| Updated: 2/14/2023
Zoe Lofgren

Zoe Lofgren

Democratic Representative

California

Cosponsors (9)
Jared Huffman (Democratic)Ken Buck (Republican)Pete Sessions (Republican)Ted Lieu (Democratic)Greg Stanton (Democratic)Anna G. Eshoo (Democratic)Kathy Castor (Democratic)Joe Neguse (Democratic)James P. McGovern (Democratic)

Judiciary Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bankruptcy Venue Reform Act This bill limits where a non-individual debtor (e.g., a corporate debtor) may file for bankruptcy to prevent forum shopping. Specifically, these debtors must file in the district court where their principal place of business or principal assets are located. Corporate debtors may also file in a district where there is a pending bankruptcy case concerning an affiliate that has a certain level of control over or ownership of the debtor (e.g., if the affiliate is a controlling shareholder of the debtor), if that pending case is in a proper venue under this bill. Under current law, these debtors may also file where they are domiciled (i.e., incorporated) or where there is a pending bankruptcy case concerning any affiliate, general partner, or partnership of the debtor. For corporate debtors that are issuers of securities, their principal place of business is defined in the bill as the address of the entity's principal executive office as provided in specified Securities and Exchange Commission filings.
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Timeline

Bill from Previous Congress

HR 116-4421
Bankruptcy Venue Reform Act of 2019

Bill from Previous Congress

HR 117-4193
Bankruptcy Venue Reform Act of 2021
Feb 14, 2023
Introduced in House
Feb 14, 2023
Referred to the House Committee on the Judiciary.
  • Bill from Previous Congress

    HR 116-4421
    Bankruptcy Venue Reform Act of 2019


  • Bill from Previous Congress

    HR 117-4193
    Bankruptcy Venue Reform Act of 2021


  • February 14, 2023
    Introduced in House


  • February 14, 2023
    Referred to the House Committee on the Judiciary.

Finance and Financial Sector

Bankruptcy Venue Reform Act

USA118th CongressHR-1017| House 
| Updated: 2/14/2023
Bankruptcy Venue Reform Act This bill limits where a non-individual debtor (e.g., a corporate debtor) may file for bankruptcy to prevent forum shopping. Specifically, these debtors must file in the district court where their principal place of business or principal assets are located. Corporate debtors may also file in a district where there is a pending bankruptcy case concerning an affiliate that has a certain level of control over or ownership of the debtor (e.g., if the affiliate is a controlling shareholder of the debtor), if that pending case is in a proper venue under this bill. Under current law, these debtors may also file where they are domiciled (i.e., incorporated) or where there is a pending bankruptcy case concerning any affiliate, general partner, or partnership of the debtor. For corporate debtors that are issuers of securities, their principal place of business is defined in the bill as the address of the entity's principal executive office as provided in specified Securities and Exchange Commission filings.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-4421
Bankruptcy Venue Reform Act of 2019

Bill from Previous Congress

HR 117-4193
Bankruptcy Venue Reform Act of 2021
Feb 14, 2023
Introduced in House
Feb 14, 2023
Referred to the House Committee on the Judiciary.
  • Bill from Previous Congress

    HR 116-4421
    Bankruptcy Venue Reform Act of 2019


  • Bill from Previous Congress

    HR 117-4193
    Bankruptcy Venue Reform Act of 2021


  • February 14, 2023
    Introduced in House


  • February 14, 2023
    Referred to the House Committee on the Judiciary.
Zoe Lofgren

Zoe Lofgren

Democratic Representative

California

Cosponsors (9)
Jared Huffman (Democratic)Ken Buck (Republican)Pete Sessions (Republican)Ted Lieu (Democratic)Greg Stanton (Democratic)Anna G. Eshoo (Democratic)Kathy Castor (Democratic)Joe Neguse (Democratic)James P. McGovern (Democratic)

Judiciary Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted