4 ms·

Any specific reason they would file in Texas?

• deleted 13y ago
  [deleted]
• sliverstorm 13y ago
  From what I hear, Texas courts are generally the most friendly to businesses
• hcal 13y ago
  Texas is known as a responsive district so they won't have to wait for a court date. That could be important if they thought an investor was going to move to quickly to foreclose on assets.
  • techsupporter 13y ago
    Doesn't the automatic stay kick in immediately upon filing? My understanding was that the ultimate court date (or initial meeting with the trustee) wasn't as big of a concern.
• rayiner 13y ago
  So a Chapter 15 is an ancillary proceeding to facilitate the bankruptcy of a foreign corporation that is happening in another jurisdiction (in this case, Japan). Venue in a Chapter 15 is appropriate either where the company its principal U.S. assets, or where it is getting sued in the U.S. See: http://www.law.cornell.edu/uscode/text/28/1410 http://www.law.cornell.edu/uscode/text/28/1410. I believe the only lawsuit right now is in Chicago (NDIL), so presumably they filed in Dallas because they had some assets there (servers, etc)?