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Delaware’s distinction as U.S. bankruptcy capital in jeopardy

Proposed law prevents court-shopping and forces companies to reorganize at home

Wayne Campbell’s sardonic excitement just waned even more. Delaware’s possible greatest claim to fame could be going the way of the dodo if leaders of the House Judiciary Committee have their way.

In what seems to be an exceedingly rare act of bipartisanship these days, Rep. Lamar Smith, R-Texas, and Rep. John Conyers, D-Mich., the committee’s chairman and ranking Democratic member, respectively, in July introduced a bill (H.R. 2533) intended to change bankruptcy venue rules by limiting where businesses can file for bankruptcy protection.

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