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Rekindling a hot topic in the bankruptcy bar, Sen. John Cornyn, R-Texas, filed a bill Feb. 8 that would require corporations to file for bankruptcy where their principal place of business or their principal assets are located. It would prevent a corporation from filing for bankruptcy in a location that's simply the home of a subsidiary, or the state where it is incorporated. Cornyn says the Fairness in Bankruptcy Litigation Act of 2005 would prevent forum-shopping.
February 16, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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