The Justice Department’s bankruptcy watchdog doubled down on accusations of venue shopping against drug developer Sorrento Therapeutics Inc., calling its use of a days-old P.O. Box and bank account to justify its Houston filing “unprecedented.”
The US Trustee’s Thursday court filing added to the growing debate over the way bankrupt corporations select venues for their Chapter 11 cases. Sorrento has defended its Texas filing, saying its actions to establish a presence in Houston were valid. A hearing on the dispute is scheduled for Monday.
“This is a case of forum shopping and venue manipulation taken to a new and unprecedented ...
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