If you find yourself at the intersection of Eighth and Market Streets in downtown Wilmington during the week, you’ll be surrounded by a flurry of people and activity. If you head a block or two up the street for lunch, chances are that you’ll have to wait if you’re not there early.
All around that part of town, businesses are busy, and lines extend out the door with lawyers and paralegals, secretaries and couriers — people from all walks of life.
It’s not a coincidence that the area around 8th and Market is one of the busiest in our city. It’s because it’s home to Delaware’s federal bankruptcy court, one of the key pillars of our local economy and a big reason for all of the other successful businesses nearby.
Unfortunately, two of my colleagues in the U.S. Senate are now aiming to take that economic pillar away from us, and we’re going to have to fight back.
Senators John Cornyn, R-Texas, and Elizabeth Warren, D-Mass., recently introduced a bill that would deny most American businesses the ability to work with Wilmington’s nationally known bankruptcy courts and skilled bankruptcy lawyers. That’s unfair to American businesses in all 50 states, and it would deal a significant blow to our local economy because our courts are a key reason that corporations want to do business in Wilmington.
Let’s step back and talk about what the bankruptcy court does and why it’s so important to Delaware.
The full column can be found here.