1、CRS INSIGHT Prepared for Members and Committees of Congress Legal SidebarLegal Sidebari i Congress Considers Making it Harder to File for Bankruptcy in New York or Delaware Updated December 11, 2019 Commentators, citing the significant concentration of business bankruptcies filed in New York and Del
2、aware to the exclusion of other jurisdictions, have debated for several decades whether Congress should reduce the flexibility that many companies currently enjoy when selecting where to file for bankruptcy. Critics maintain that the current bankruptcy venue rulesmany of which offer large companies
3、a wide range of forums in which they may permissibly file for bankruptcyencourage debtors to file for bankruptcy in courts that favor debtors and their attorneys to the detriment of creditors and other stakeholders. Supporters of the existing venue rules, by contrast, argue that concentrating large
4、business bankruptcies in a few forums allows judges and attorneys in those jurisdictions to develop extensive expertise and experience with complex bankruptcy matters, benefiting debtors, creditors, and stakeholders alike. Past Congresses have reacted to this debate by proposing to restrict the venu
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