Venue
The Bankruptcy Code provides that a bankruptcy case may be commenced in the place where the domicile, residence, principal place of business, or principal assets of the person who is seeking bankruptcy relief has been located for the 180 days preceding the case or the longer portion of the 180 days.
The location of the debtor's principal assets has diminished in significance in the choice of venue and the location of debtor's decision-making management is of more importance. Where a company's activities are not concentrated in one place, the court may look to the "nerve-center" of the company in determining its principal place of business.
The location of the debtor's principal assets has diminished in significance in the choice of venue and the location of debtor's decision-making management is of more importance. Where a company's activities are not concentrated in one place, the court may look to the "nerve-center" of the company in determining its principal place of business.