The Seminar explores the federal bankruptcy process in a business context as a way of dealing with insolvent commercial entities and doing deals. Financing, asset disposition and reorganization plan regimes will be examined, along with their legal underpinnings. Seminar participants will be asked to engage in preparation for the bankruptcy case, formation of strategies, negotiation and drafting exercises and draft solutions for distressed entities. Particular attention will be given to major issues and techniques in the current environment, including alternative means for effecting asset dispositions and the strategic use of loans by participants in mid-market and large chapter 11 cases. The objective is to develop students' abilities to better understand not just the Bankruptcy Code, but also the use of the bankruptcy process as a business matter, and to enable them to make immediate contributions upon entry (or return) to the business world.
Students will be required to turn in written assignments in advance of class. Final evaluation by written excercises and class participation.