Debating Bankruptcy Venue Reform

Law360, New York (September 19, 2011, 11:30 AM EDT) -- For years, a debate has percolated within the bankruptcy community over the appropriate judicial fora for Chapter 11 cases and the concentration of cases in the “magnet” jurisdictions of New York and Delaware. That debate is once again coming to a head, with some of the bankruptcy bench’s and bar’s biggest names weighing in.

In June, U.S. Rep. Lamar Smith, R-Texas, the chairman of the U.S. House Committee on the Judiciary, filed the Chapter 11 Bankruptcy Venue Reform Act of 2011. Similar to other bills previously...
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