112 HR 2533 IH: Chapter 11 Bankruptcy Venue Reform Act of 2011 U.S. House of Representatives 2011-07-14 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 112th CONGRESS 1st Session H. R. 2533 IN THE HOUSE OF REPRESENTATIVES July 14, 2011 Mr. Smith of Texas (for himself, Mr. Conyers, Mr. Coble, and Mr. Cohen) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend title 28 of the United States Code with respect to proper venue for cases filed by corporations under chapter 11 of title 11 of such Code.

1.

Short title

This Act may be cited as the Chapter 11 Bankruptcy Venue Reform Act of 2011.

2.

Amendments

Section 1408 of title 28 of the United States Code is amended— (1)by inserting (a) before Except, (2)by inserting and subsection (b) of this section after this title, and (3)by adding at the end the following: (b)A case under chapter 11 of title 11 in which the person that is the subject of the case is a corporation may be commenced only in the district court for the district— (1)in which the principal place of business in the United States, or principal assets in the United States, of such corporation have been located for 1 year immediately preceding such commencement, or for a longer portion of such 1-year period than the principal place of business in the United States, or principal assets in the United States, of such corporation were located in any other district; or (2)in which there is pending a case under chapter 11 of title 11 concerning an affiliate of such corporation, if the affiliate in such pending case directly or indirectly owns, controls, or holds with power to vote more than 50 percent of the outstanding voting securities of such corporation. .

3.

Effective date; application of amendments

(a)

Effective date

Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b)

Application of amendments

The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.