Debtors' and Creditors' Rights

This course is an introduction to the law of bankruptcy. It explores the relief available to individual and business debtors in financial distress as well as the remedies available to creditors. The course begins with a survey of state law debt collection, and a brief introduction to Article 9 of the Uniform Commercial Code, exemption law and fraudulent conveyances. The focus would then turn to the federal Bankruptcy Code. Among the topics that may be covered: consumer credit and consumer bankruptcy under Chapter 7 and Chapter 13 of the Bankruptcy Code; the nature of a debtor's fresh start in bankruptcy; the treatment of personal property security and residential mortgages in Chapters 7 and Chapter 13; trustee's avoidance powers in bankruptcy; business liquidation in bankruptcy; wage earner plans under Chapter 13; and a brief introduction to business reorganizations in Chapter 11. Students who have earned credit for CTL-200 Debtors' and Creditors' Rights may not earn credit for this course. Grading and Method of Evaluation: Letter grade with pass/fail option. Final exam.