WSJcomBankruptcyBeat

LightSquared’s latest attempt to get out of bankruptcy protection will begin on Monday morning.

Bankruptcy lawyers for hedge fund manager Philip Falcone‘s wireless venture will try to persuade Judge Shelley Chapman in U.S. Bankruptcy Court in New York to let them to put the company’s reorganization plan into action.

The company has gone through several proposed restructuring plans, but all have fallen through. And the latest proposal already has a challenger: hedge fund Solus Alternative Asset Management LP.

Our Examiners, a panel of some of the leading bankruptcy experts, weighed in this week on the topic of venue reform. And in more than a dozen responses, they agreed—the venue provisions of the bankruptcy code, as is, work well for businesses and creditors.

Should bankruptcy laws that allow companies broad latitude in selecting a venue be reformed? 

Should bankruptcy laws that allow companies broad latitude in selecting a venue be reformed?