Haynes and Boone, LLP Partner Richard Kanowitz talked with Bloomberg Law about how a two-judge court in Richmond, Va., is becoming a venue of choice for large companies seeking bankruptcy protection.
Here is an excerpt:
The U.S. Bankruptcy Court for the Eastern District of Virginia has developed a reputation among corporate restructuring practitioners as a debtor-friendly venue that issues consistent rulings while running efficient operations.
Unlike some other major Chapter 11 courts, Richmond operates with only two judges: Kevin Huennekens and Keith Phillips. In comparison, the courts in Wilmington, Del., and New York each have seven.
The judges also have a track record of handling complex cases, said attorney Richard Kanowitz of Haynes and Boone, LLP. “So there’s no risk to filing,” he said.
The Richmond court is also efficient at approving fees, attorneys say.
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