The study of bankruptcy law is the study of how bankruptcy proceedings, and the prospect of bankruptcy proceedings, affect legal relationships. Bankruptcy impacts a vast range of substantive and procedural rights and obligations arising under many different legal areas, including contracts and other areas of commercial transactions, torts, property, tax, business organizations, family law, dispute resolution, and many others. The study of bankruptcy law, therefore, is greatly assisted by, and greatly contributes to, a strong general legal education.
This course provides an introduction to the Bankruptcy Code of 1978 as amended, Title 11 U.S.C. 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; allowance of claims; the automatic stay; adequate protection; executory contracts and leases; the trustee's avoiding powers; and set-off and recoupment. 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.