H.R.4421 - Bankruptcy Venue Reform Act of 2019116th Congress (2019-2020)
|Sponsor:||Rep. Lofgren, Zoe [D-CA-19] (Introduced 09/19/2019)|
|Committees:||House - Judiciary|
|Latest Action:||House - 10/28/2019 Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4421 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (09/19/2019)
Bankruptcy Venue Reform Act of 2019
This bill limits where a non-individual debtor (e.g., a corporate debtor) may file for chapter 11 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. Under current law, these debtors may also file where they are domiciled (i.e., incorporated) or where there is a chapter 11 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.