“Wilmington, Delaware, the traditional city where corporate bankruptcy cases are heard.”
Another example of the cluelesness of so called “journalists”.
The venue for corporate bankruptcy cases (ALWAYS Federal Court) is defined by statute. There is no such thing as a “traditional city where corporate bankruptcy cases are heard.”
There are historical and legal reasons why Wilmington might hear an outsized proportion of corporate bankrutpcy cases, but that would be largely based on the fact that so many corporations incorporate in Delaware, and the venue statutes for bankruptcy cases allow venue in the state of incorporation.
Over 50% of LLCs are formed in DE for a reason.