Now is the time for bankruptcy location reform

The Boston Herald, Chicago Tribune, Dallas Stars, Los Angeles Dodgers, Nebraska Ebook Organization, Tropicana Las Vegas Casino, and Washington Mutual all proudly bear the title of a town or state where they are based mostly. But all submitted for Chapter 11 Personal bankruptcy in Delaware, taking gain of a loophole in individual bankruptcy law that permits companies to flee their home states and have their Chapter 11 instances heard in jurisdictions to which they have no significant link. This usually-applied loophole enables bankrupt corporations to decide the court docket, the relevant case legislation, and

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