In-depth analysis of the Bankruptcy Code, including commencement of a case, the automatic stay, exemptions, trustees avoiding powers, distribution, priorities, and discharge. The course covers selected state debtor/creditor law, including pre- and post-judgment remedies, fraudulent conveyances, exemptions, liens, and security interests. Although issues involving corporate debtors are addressed, the course focuses on Chapter 7 (liquidation) and Chapter 13 (individual repayment programs). Bankruptcy is one of the three core courses in the business and commercial law curriculum, together with Sales and Negotiable Instruments (BUS140) and Secured Transactions (BUS105).
Prerequisites: While not required, Secured Transactions (BUS105) is recommended.