L6233 Corporate Reorganization and Bankruptcy

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Course Limitations

Instructor Pre-requisites
Corporations (pre- or co-requisite)

Instructor Co-requisites
Corporations (pre- or co-requisite)

Recommended Courses
Bankruptcy Corporate Finance

Other Limitations

Learning Outcome Goals

Primary Goals

  • The policies that undergird the rehabilitation process
  • The business setting, transactions, conflicts, and challenges that are the backdrop of business reorganization cases
  • The alternatives to Chapter 11 relief, including extrajudicial workouts, assignments for the benefit of creditors, and in- and out-of-court liquidations
  • The characteristics of debtors that can (and should) be saved, and those that cannot and (should not) be saved – and how to distinguish one from the other and why it matters
  • The nature, roles, and fiduciary duties of important Chapter 11 dramatis personae, including bankruptcy judges, U.S. Trustees, debtors in possession, operating trustees, examiners, creditors, creditors’ committees, equity holders, equity holders’ committees, indenture trustees, and their respective attorneys and other professional assistants.
  • Ethical issues related to the representation of debtors, creditors, and others
  • How the Chapter 11 process unfolds, from commencement, to committee formation, to rationalization of the debtor’s business plan, to negotiation of the debtor’s reorganization plan, to sale, rehabilitation, or orderly liquidation of the business, with myriad events in between.
  • Why, in some cases, the classic Chapter 11 process is foreshortened by a quick sale of the business to new owners
  • The operation and scope of the automatic stay in Chapter 11 cases, and related issues, including the treatment of mass tort, contingent, disputed, and so-called “future claims,” and related due process considerations.
  • The critical role that valuation techniques play in determining the outcome of disputes that arise at various stages of business reorganization cases.
  • The relationship of Chapter 11 to other chapters of the Bankruptcy Code, and to other bodies of law – including corporate, securities, property, contract, commercial, landlord/tenant, administrative, environmental, employee benefit, tax, and corporate finance law
  • The standards for confirming a reorganization plan; the scope and effect of the Chapter 11 discharge and related due process issues; the consequences of a debtor’s failure to perform its plan obligations.

General Information

Type: Lecture
Level: Upperclass

Other Sections

Section 001, Fall 2019
M 3:00-6:00 pm
Martin Glenn
Michael A. Gerber