HR 4193
Bankruptcy Venue Reform Act of 2021
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Bankruptcy Venue Reform Act of 2021 aims to reduce ‘forum shopping’ in bankruptcy cases. It changes where companies can file for bankruptcy by requiring them to file in the district where their main business or assets are located, unless an affiliate has a case already filed there. The bill also clarifies how a company’s principal place of business is defined and establishes a stricter requirement for venue based on the location of an entity’s assets or an affiliate’s control. It also includes provisions to ensure fairness and prevent strategic changes in location to influence bankruptcy proceedings.
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Primary sponsor
Cosponsors
Anna G. Eshoo
Dan Bishop
Ed Perlmutter
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