H.R. 3581 · 108th Congress
Small Business Bankruptcy Venue Relief Act of 2003
- Stage
- In committee
- Sponsor
- Richard Baker
- Introduced
- 2003-11-21
- Latest action
- 2003-12-10 · Referred to the Subcommittee on Commercial and Administrative Law.
Summary
Small Business Bankruptcy Venue Relief Act of 2003 - Amends the Federal judicial code to require a bankruptcy trustee to commence a proceeding against a small business concern only in the district in which the defendant resides if the proceeding is intended to avoid prohibited preferential transfers to or for the benefit of certain non-insider small business creditors for an antecedent non-consumer debt.
Defines small business as a commercial or business concern having fewer than 25 full-time employees as of the date on which the proceeding commenced.