Top Judge Pushes For Bankruptcy Venue Reform

Law360, New York (September 8, 2011, 4:10 PM EDT) -- Massachusetts' top bankruptcy judge told federal lawmakers Thursday that the current venue selection process — in which many companies file in Delaware and New York instead of where they're headquartered — undermines confidence in the system when creditors and others struggle to participate in faraway proceedings.

Testifying before a subcommittee of the House Judiciary Committee about proposed legislation that would reform the rules governing venue selection, Chief Judge Frank J. Bailey said other courts around the country were perfectly capable of handling complicated bankruptcies.

Retirees, vendors,...
To view the full article, register now.