Keweenaw Report Your Source for Local News and Sports
Michigan Attorney General Dana Nessel, has joined 41 other Attorneys General in support of the Bankruptcy Venue Reform Act of 2019.
The bipartisan legislation would eliminate a corporation filing for bankruptcy in a district it believes may be more favorable to them, also known as “forum shopping.”
Under current law, individuals must file in the region they have spent the majority of the last 180 days, however corporations, can file in areas where they have a minor interest, without regards to how recently the the interest was created.
The AG’s involved, hope the legislation will help consumers and other parties be represented in court without necessary burden and to level the playing field for state attorneys general to guard their state’s financial interests and enforce consumer protection laws.
