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S 314 109th Congress Senate Law Bankruptcy Bankruptcy courts Change of venue Commerce Corporate management Debtor and creditor District courts Finance and Financial Sector Financial statements

Fairness in Bankruptcy Litigation Act of 2005

Introduced: February 8, 2005 Introduced by: Cornyn, John Republican · Texas See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 8, 2005
Read twice and referred to the Committee on the Judiciary.
Feb 8, 2005
Sponsor introductory remarks on measure. (CR S1125-1129)
Feb 8, 2005
Introduced in Senate
 Plain-English summary Congressional Research Service

Fairness in Bankruptcy Litigation Act of 2005 - Amends the Federal judicial code to establish that domicile and residence of a debtor, for purposes of establishing venue in bankruptcy cases on the basis of domicile and residence, is located where the debtor's principal place of business is located. Provides that venue also lies in the district in which such a case concerning the controlling corporation is pending: (1) if the debtor is controlled by another corporation, the financial statements of the debtor have been consolidated with those of the controlling corporation within a specified period of time before filing for bankruptcy, and the controlling corporation is a debtor in bankruptcy proceedings; or (2) if the debtor is not such a corporation, the debtor has been controlled by another corporation for a specified time period before filing, and the controlling corporation is a debtor in bankruptcy proceedings.

Adds bankruptcy courts to the list of district courts required to dismiss or transfer cases laying venue in the wrong division or district.

What's happening now February 8, 2005

Read twice and referred to the Committee on the Judiciary.

 Committees of jurisdiction 1