S. 2827 · 117th Congress
Bankruptcy Venue Reform Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CornynSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill limits where a non-individual debtor (e.g., a corporate debtor) may file for bankruptcy.
What it does: CRS summary · Introduced in Senate · Sep 23, 2021
Bankruptcy Venue Reform Act of 2021
This bill limits where a non-individual debtor (e.g., a corporate debtor) may file for bankruptcy.
Specifically, these debtors must file in the district court for the district in which the principal place of business or principal assets of the debtor are located. Such a debtor may also file in a district where there is a pending bankruptcy case concerning an affiliate that has a certain level of control 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 bankruptcy case pending concerning an affiliate, general partner, or partnership.
For certain debtors who 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bankruptcy Venue Reform Act of 2021
Latest action (Sep 23, 2021): Read twice and referred to the Committee on the Judiciary.
Policy area: Law · Origin: Senate · Introduced: Sep 23, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.