Law 794: Chapter 11 Bankruptcy Reorganizations: Method and Practice

From the halls of Congress to the living rooms of blue-collar workers, "Chapter 11" quickly has become a ubiquitous phrase during the current devastating economic environment.  As one of the hottest areas of legal practice today, whether you are a litigator, transactional, intellectual property, or real estate attorney, your practice likely will, at some point, touch upon the area of bankruptcy law.

 

In this 2 unit class, Chapter 11 Bankruptcy Reorganizations will emphasize a practical approach to examining corporate reorganizations under chapter 11 of the Bankruptcy Code.  The course will center around a single case study, from the point of first contact with the general counsel of a large corporation looking for bankruptcy advice to the preparation for and eventual exit from bankruptcy.  Using hypothetical role-playing problems, the course will examine-largely from the debtor's perspective-the various tools the Bankruptcy Code provides to stabilize the debtor's operations during bankruptcy, restructure the debtor's debt, and rationalize the debtor's business plan on a going-forward basis.  Course content will include, among other things, the fiduciary duties of directors and officers, the filing of voluntary (and involuntary) bankruptcy petitions, "first day" pleadings, how debtors can use or otherwise sell certain of their assets, how debtors obtain credit, the rejection and/or assumption of executory contracts and leases, and how to develop, solicit, and eventually confirm a plan of reorganization.

 

Lectures and guest-speakers will supplement the use of the problem method.  Grading will be based upon class participation, a paper to be completed after the completion of classes, and a short multiple-choice exam.

 

Sequence and Prerequisites:  None