Will This be the Year for Chapter 11 Venue Reform?

More than a decade after Democrats and Republicans first united to introduce bankruptcy venue reform legislation, Congress is still trying to make headway on the issue.

Last month, Congresswoman Zoe Lofgren (D-CA) and Congressman Ken Buck (R-CO) reintroduced H.R. 1017, the Bankruptcy Venue Reform Act, legislation aimed at curtailing bankruptcy “venue shopping” by requiring that bankruptcy proceedings take place in the venue in which the entity has its principal place of business or the majority of its assets.