Prerequisites/Corequisities: Students must have completed, or be concurrently enrolled in Bankruptcy or Corporate Restructuring, or please seek instructor’s permission based on student’s other background.

Exam Type: No Exam

In this one-credit course, we will examine in depth the newest eve-of-bankruptcy transaction, the so-called Liability Management Exercise. We’ll study the major judicial decisions and analyses, study how contract is used to control (and can fail to control) these transactions, and the bankruptcy implications of the LME. I plan to invite lawyers who are engineering the transactions to several sessions.