Jerry Nadler: “as I think is known, I disagree on just about every other aspect of this bill, including whether it is desirable at all…”

“as I think is known, I disagree on just about every other aspect of this bill, including whether it is desirable at all, with the distinguished chairman, but on this amendment I have to join him in opposition. There is no good reason to go away in bankruptcy from the normal venue laws, number one, and make bankruptcy an exception to the venue laws in general. Two, the debtor now can choose several different places; the principal place of incorporation where he has the principal place of business, et cetera. Three, he can always ask the court to change it. Four, courts are not businesses. They are not looking for business. They are not looking for volume. In fact, courts in Delaware are sending cases elsewhere because they are overcrowded. Mr. Chairman, there is no good reason and a lot of harm that will come from adopting this amendment. I urge my colleagues to vote against it.”