Monday, June 30, 2003

Delaware: Bankruptcy Venue to the World

Thanks to Senator Joe Biden, senior Democrat on the U.S. Senate Judiciary Committee, Delaware is positioning itself as the capital of bankruptcy filings. The U.S. Bankruptcy Court for the District of Delaware has signed a new lease in downtown Wilmington, effectively doubling the space that the Court had in its previous building. Also, of the 29 new bankruptcy judges approved by the U.S. Senate, four will sit in Delaware full time.

Currently, Delaware is head-to-head with New York for top honors, each pulling in about 20% of all major filings. So, whether you need a 7, 11, 12 (for bankrupt family farmers) or 13, Wilmington is the place to be.

-Kevin, Law Clerk

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