This course is designed to introduce LL.M students to the strategic, business and legal issues involved in U.S. style financing arrangements and the federal law of business bankruptcy. While UCC Article 9 is focus of the course, the course will introduce students to the problems of secured credit and business bankruptcy.
The secured credit and business bankruptcy course is taught from a problem sets and teaches skills such as business planning, as well as statutory interpretation. The course also aims to familiarize students with the key documents for secured lending including financing statements and security agreements with lesser coverage of real estate mortgaging. We will study remedies of secured creditors and unsecured creditors; security and foreclosure; repossession of collateral; judicial sales and deficiency and creditor’s remedies in bankruptcy. In addition the course introduces business bankruptcy law, which is always in the background in U.S. secured credit transactions, covering the fundamentals of bankruptcy procedures, bankruptcy and the automatic stay, and the treatment of secured creditors in bankruptcy as well as debt priority.
The course will also introduce students to the problem of transnational bankruptcies, as well as the unlimited territorial scope of United States bankruptcy jurisdiction, including topics such as collateral value during transnational bankruptcy, and the process of negotiating, voting, and confirming a plan of reorganization in transnational bankruptcies.
Method of Examination: The course grade will be based on a final take-home examination.
<<Course Updated: July 05, 2011>>