Business Reorganizations

2 units

This course will focus on business reorganizations both inside and outside of bankruptcy. The primary focus of the course will be Chapter 11 reorganizations under the Bankruptcy Code. It is somewhat helpful but definitely not necessary for students wishing to enroll in this course to have taken the basic Bankruptcy class. This course does not assume that the student has any prior knowledge about bankruptcy law. Topics include: out-of-court restructuring; fraudulent transfers; corporate governance in bankruptcy; first-day orders and post-petition financing; use and sale of estate property; executory contracts and unexpired leases; claims allowance; plan voting and confirmation; prepackaged plans; cramdown plans; the absolute priority rule; claims trading; and post-confirmation issues. This is a problem-oriented course. After reading cases, text and Code provisions, students will complete problems at the end of each casebook assignment. Class time will be spent working through and discussing each of the problems. Attendance, participation and preparation will all be required. The final grade will be based on a single two-hour final exam. Laptops will not be allowed in class. 2 units.