Atlanta Firm Draws Creditor Ire Over NJ Court Shopping Maneuver

Atlanta-based Multi-Color Corp.made a curious move: It opened tiny business accounts at New Jersey’s ConnectOne Bank, some 900 miles from its headquarters. Although the label-making giant has nearly 40 North American facilities, none are located in the Garden State.

Even stranger, the accounts were opened in the name of an Ohio subsidiary that had been defunct since its factory closed in 2023. However, for Multi-Color’s lawyers at Kirkland & Ellis, depositing $1 million of the company’s $3 billion revenue into this local bank served a specific purpose: it granted the global enterprise access to New Jersey’s bankruptcy ...