The study of bankruptcy law is the study of how the prospect and availability of bankruptcy affects legal relationships; therefore, bankruptcy attorneys must understand the full range of law, to determine the impact an insolvency proceeding has on the parties in interest and community at large.
This course provides an introduction to federal bankruptcy law under the Bankruptcy Code of 1978 as amended, Title 11 U.S.C.A. The course focuses on substantive provisions of the Bankruptcy Code that apply in all varieties of bankruptcy proceedings and some of the associated rules of procedure. Covered topics include eligibility for federal bankruptcy relief; commencement of bankruptcy proceedings; jurisdiction and procedure; defining property of the bankruptcy estate; the automatic stay; adequate protection; discharge and dischargeability of debts; priorities; allowing, valuing and estimating claims; selected issues usually encountered in business, such as executory contracts and leases; the trustee's avoiding powers; set-off and recoupment; professional obligations. The course proceeds by analysis of problems and cases. Familiarity with the law of secured transactions (especially Article 9 of the Uniform Commercial Code) is necessary.