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Issue: Biographies
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Date added: December 16, 2004
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No of pages / words: 2 / 413
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Biden said Delaware was popular because its courts have expertise in complex business bankruptcies. Some bankruptcy lawyers outside Delaware concur. "Delaware courts are among the most adept forums in dealing with the sophisticated and fast-paced issues confronting today's bankruptcies," says Richard Chesley, a Chicago lawyer...
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Delaware attorneys are among the beneficiaries, aided by state rules requiring companies to retain local bankruptcy counsel. Some academics outside Delaware say forcing companies to file closer to home would allow employees and creditors to more easily take part in bankruptcy proceedings and would drive down the costs of those proceedings...
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