H.R. 1017 · 118th Congress
Bankruptcy Venue Reform Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LofgrenSponsor9 cosponsors · 7 D, 2 R
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 to prevent forum shopping.
What it does: CRS summary · Introduced in House · Feb 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bankruptcy Venue Reform Act
Latest action (Feb 14, 2023): Referred to the House Committee on the Judiciary.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.