This course provides an overview of both consumer and business bankruptcy. We begin with creditors' collection rights under state law and then turn to consumer bankruptcy under Chapters 7 and 13 of the Bankruptcy Code. Topics include the bankruptcy estate, the automatic stay, exemptions, the treatment of secured and unsecured debt, the means test, repayment plans, and discharge. We then examine business bankruptcy, focusing on the legal requirements for reorganization plans under Chapter 11, debtor-in-possession financing, avoidance actions, preferences, fraudulent transfers, executory contracts, plan confirmation, cramdown of secured and unsecured creditors, and § 363 asset sales. Throughout, the course considers the policy goals of bankruptcy and strategic issues in bankruptcy practice, while also requiring students to apply basic corporate finance concepts through assigned problem sets. Recommended Courses: Corporations, Secured Transactions

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