What: All Issues : Aid to Less Advantaged People, at Home & Abroad : America's Poor : HR 975. Bankruptcy Reform/Vote to Require Bankrupt Corporations to File for Bankruptcy Protection in the District Court with Jurisdiction Over the Corporation's Principle Place of Business. (2003 house Roll Call 71)
 Who: All Members : New York, District 2 : King, Pete
[POW!]
 
HR 975. Bankruptcy Reform/Vote to Require Bankrupt Corporations to File for Bankruptcy Protection in the District Court with Jurisdiction Over the Corporation's Principle Place of Business.
house Roll Call 71     Mar 19, 2003
Member's Vote
(progressive
or not)
Progressive Position
Progressive Result
(win or loss)

Republicans had tried for several years to pass an overhaul of the nation's bankruptcy laws. They felt the laws made it too easy for debtors to file for bankruptcy under Chapter 7, which protects many assets from confiscation. They proposed a bill with a means test that required those with more assets to file under the less protective Chapter 13. Progressives, on the other hand, felt that bankruptcy reform mainly benefited credit card companies, and that these companies should become better at assessing credit risk and not encourage individuals to go deeply into debt. As part of the debate on this bill, Sherman (D-CA) proposed an amendment that would require a corporation filing for bankruptcy to do so in the district court with jurisdiction over the corporation's principal place of business. Progressives supported this amendment to prevent "venue shopping," where corporations file in the court most friendly to their claims and make it difficult for those they did business with in their community to attend court hearings. But the amendment was rejected, 155-269.

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Issue Areas:
Key: Y=Yea, N=Nay, W=Win, L=Loss