LAWS 396 - Bankruptcy & Creditor's Rights
 
(4 cr.) As events of the Great Recession have demonstrated, insolvency and the potential for insolvency affect many transactions and complicate efforts to enforce judgments or to resolve disputes. Bankruptcy is not an arcane subject but rather an integral part of commercial law. In this class, students begin with an overview of the various state law creditor remedies and debtor protections. The course focuses primarily on relief available for consumer and business debtors and the treatment of claims of secured and unsecured creditors under the BankruptcyCode. Participants explore issues in Chapter 7 (liquidation), Chapter 13 (individual reorganization) and Chapter 11 (business reorganization) bankruptcies, and survey out-of-court procedures such as workouts, sales under the UCC, compositions, receiverships and assignments for the benefit of creditors. Class discussion focuses more on problems than cases. The students apply these legal principles in discussing solutions to practical problems. To the extent feasible, invited guests who practice in the field, examine pleadings in actual cases and provide practice pointers to assist students in the transition to becoming a lawyer. Every Year, All
 
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