September 25, 2015 / 10:47 AM / 4 years ago

Precedent trumps fees when deciding bankruptcy venue, says report

(Reuters) - Legal precedent outweighs a court’s reputation on fees when it comes to choosing where to file major Chapter 11 cases, according to a government survey that tackled the contentious issue of venue selection for large business bankruptcies.

The U.S. Government Accountability Office (GAO) said in its survey report released on Wednesday that its interest in venue selection was piqued by concerns raised about bankruptcy professionals reaping large fees for bringing Chapter 11 cases in certain jurisdictions.

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