Bankruptcy (1003): This course concerns the law and finance of corporate bankruptcy with an emphasis on reorganization. The course reviews the fundamentals of debt contracting, including the role of events of default, debt priority, and security interests. The course examines various aspects of the bankruptcy process: including the automatic stay, the avoidance of prebankruptcy transactions (e.g. fraudulent conveyances and preferences), the treatment of executory contracts, the debtor's governance structure during bankruptcy, the financing of operations and investments in bankruptcy, sales of assets during bankruptcy, and the process of negotiating, voting, and ultimately confirming a plan of reorganization. Any student may write a paper in lieu of the final exam with consent of instructor. After the term begins, students accepted into the course can transfer from section 01 (final exam) into section 02 (final paper), with consent of the instructor. Elements use in grading: Class participation; and exam or paper.

Bankruptcy (1003): This course is an introduction to federal bankruptcy law with an emphasis on corporate reorganization. The course examines various aspects of the bankruptcy process including the automatic stay, the avoidance and recovery of certain pre-bankruptcy transfers (e.g., preferences and fraudulent transfers), the treatment of executory contracts, the financing of operations and investments in bankruptcy, and the sale of assets in a bankruptcy case. The course also examines selected Chapter 11 operating issues and the plan of reorganization. Along the way the course will consider certain controversial issues that may arise in a bankruptcy setting, such as forum shopping, valuation, leveraged buyouts, distressed debt investing, and third-party releases. The course brings the real world into the classroom by following current developments in actual bankruptcy cases, primarily through reports in the media and classroom discussion. Elements used in grading: Exam.