Law 629: Bankruptcy
This is the foundational course for the study of the federal Bankruptcy Code and the legal regulation of debtor-creditor relationships. The course will cover both individual and corporate bankruptcy, and both liquidation and reorganization cases. Some attention is paid in the first part of the course to non-bankruptcy collection law. Topics covered may include the commencement of bankruptcy cases, eligibility for bankruptcy, property of the bankruptcy estate, the automatic stay, executory contracts in bankruptcy, claims and priorities, avoiding powers of the bankruptcy trustee, discharge of debts, and exemptions.
Sequence and Prerequisites: None
Evaluation: This course will be evaluated by final examination.
Law 794: Bankruptcy Procedure
This course is devoted to study of the unique procedural issues surrounding federal bankruptcy proceedings and their interplay with the law of civil procedure, federal jurisdiction, federal courts, and complex litigation. Topics covered include the history and structure of the federal bankruptcy court system, including the allocation of judicial power between state courts, specialized federal bankruptcy courts, and federal courts of general jurisdiction; the jurisdictional reach (both subject matter and personal jurisdiction) of federal bankruptcy proceedings and the venue and transfer of those proceedings; conduct of litigation in the bankruptcy courts, including the nature of adversary proceedings and contested matters; the injunctive and contempt powers of bankruptcy courts; procedural due process; state sovereign immunity; jury trials; appeals; alternative dispute resolution; multinational insolvency proceedings; and the use of complex procedural devices, such as class actions, in conjunction with bankruptcy proceedings; and bankruptcy proceedings as a mass litigation management tool. Classes will consist of lecture and discussion.
Sequence and Prerequisites: Previous completion of or concurrent enrollment in the introductory Bankruptcy course is the only pre/co-requisite.
Evaluation: Grading will be based on a combination of attendance, classroom participation and a comprehensive final examination.
Law 794: International Bankruptcy (Champaign and Chicago)
This course focuses on how different countries and regions deal with the increasingly complex problems of distressed multi-national companies. Topics range from the different approaches to insolvencies across the US and Canada, Latin America, western Europe, Japan and China, to managing cross-border cases, recognition by US courts of foreign insolvency proceedings, and the use of US Chapter 11 by foreign companies.
The course will be presented via live video conference out of New York by distinguished lecturers from around the world, and may be taken either in Chicago or Champaign. After the video we will continue for an additional 30 minutes with a video link between Champaign and Chicago that will briefly discuss the evening’s topic, and preview the most important areas of focus for the next week’s session.
The required reading for each session includes one or more questions that illustrate particular subjects covered in the material. Each week, one of the participating schools is called upon to answer these questions during the video lectures. However, for grading purposes you will be expected to prepare answers every week.
Sequence and Prerequisites: None.
Evaluation: Grading will be based on a 25 page paper.