Prerequisite: None

Exam Type: In Class

This basic bankruptcy course covers the major facets of bankruptcy that influence business financing transactions. Much of the deal-making in a financing transaction is negotiated in anticipation of a possible reorganization in Chapter 11 or of a private reorganization in its shadow. I.e., corporate lawyers often negotiate loans for their business clients; regulators, creditors, and employees of shaky companies want to know what will happen if the company goes bankrupt. For many lawyers, contact with bankruptcy law is anticipatory and not in front of the bankruptcy judge. When feasible, students will read not just bankruptcy court opinions and the Bankruptcy Code, but materials that financing lawyers use day-to-day: a loan agreement, a prospectus, a complaint in a loan dispute, and SEC submissions. In addition, to restructuring basics, I expect that we will consider ongoing bankruptcy  disputes involving mass torts, government action, and labor contracts. Students will ordinarily participate in a simulated Chapter 11 reorganization.