There is a bill pending in Congress to prevent large corporations from filing chapter 11 in Delaware, unless I guess, they are actually doing business in Delaware. Delaware’s Senator Chris Coons responds here. Parts of the article re reprinted below.
For decades, our state has been famous for our world-class bankruptcy experts, including attorneys and judges who understand complicated business processes inside and out. Delaware’s courts help businesses reorganize with minimal interruption to ongoing business and help ensure that employees and creditors get the money they’re owed. Continue reading