S.Amdt. 76

1. Adds SEC. 1407. FAIRNESS IN BANKRUPTCY LITIGATION on page 502, between lines 17 and 18

   Adds a sectionPrinted page

   Inserted: SEC. 1407. FAIRNESS IN BANKRUPTCY LITIGATION.

   Inserted: (a) Short Title.--This section may be cited as the "Fairness in Bankruptcy Litigation Act of 2005".

   Inserted: (b) Venue in Bankruptcy Cases.--Section 1408 of title 28, United States Code, is amended--

   Inserted: (1) by inserting "(a)" before "Except";

   Inserted: (2) in paragraph (1), by striking "or" at the end; and

   Inserted: (3) by striking paragraph (2) and inserting the following:

   Inserted: "(2) in which a case under title 11 concerning the controlling corporation is pending, if--

   Inserted: "(A) the debtor is controlled by another corporation;

   Inserted: "(B) within the 730 days before the date of the debtor's filing under title 11, the financial statements of the debtor have been consolidated with those of the controlling corporation in 1 or more reports filed under section 13 or 15(d) of the Securities Exchange Act of 1934; and

   Inserted: "(C) the controlling corporation is a debtor in a proceeding under title 11; or

   Inserted: "(3) in which a case under title 11 concerning the controlling corporation is pending, if--

   Inserted: "(A) the debtor is a corporation other than a corporation described in paragraph (2);

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   Inserted: "(B) the debtor has been controlled by another corporation for not less than 365 days before the date of the filing of the debtor's petition under title 11; and

   Inserted: "(C) the controlling corporation is a debtor in a proceeding under title 11.

   Inserted: "(b) For purposes of subsection (a)--

   Inserted: "(1) if the debtor is a corporation, the domicile and residence of the debtor are located where the debtor's principal place of business is located; and

   Inserted: "(2) the term 'control' has the meaning given that term in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841).".

   Inserted: (c) Cure or Waiver of Defects.--Section 1406(c) of title 28, United States Code, is amended to read as follows:

   Inserted: "(c) As used in this section--

   Inserted: "(1) the term 'district court'--

   Inserted: "(A) includes the District Court of Guam, the District Court of the Northern Mariana Islands, and the District Court of the Virgin Islands; and

   Inserted: "(B) with regard to cases pending before a bankruptcy court, includes a bankruptcy court; and

   Inserted: "(2) the term 'district' includes the territorial jurisdiction of each district court.".

   Original wording

   On page 502, between lines 17 and 18, insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed