Professor Nicholas L. Georgakopoulos
Debtor-Creditor Relations, Fall 2001
Syllabus as of October 29, 2001
All citations are to the book Baird, Jackson & Adler,  Bankruptcy Cases, Problems, and Materials on Bankruptcy. The readings are available on-line as links at the bottom of this syllabus.
Week 1 Wed, Aug 22 Individual Debt Collection Outside Bankruptcy, 4-19 (think about all the problems)
Week 2 Mon, Aug 27 & Wed, Aug 29 The Butner Principle, 20-30 (think about all the problems)
Week 3 Wed, Sep 5 The Fresh Start Policy, Local Loan Co. v. Hunt, 292 U.S. 234, 1934 (read it from the link at the bottom of this syllabus on-line or download it from Lexis or Westlaw please) Consider the following two questions: Why should the fresh start even exist? If debtors receive a fresh start, what are the arguments that they should not be allowed to waive this right (sell it to their creditors)? Essentialy, this is problem 2A(2), p. 30. Read pp. 469-75 for this discussion.
Commencement of the Case
, 54-58, problems 3A(1), 3A(2), 3A(3)
Week 4 Mon, Sep 10 & (rescheduled) Dismissal and Abstention, 77-87 (skip the problems)
Filing the Bankruptcy Petition, 64-77, Exercises 3B(1) through (5), but not Prob. 3B of page 77
Week 5 Mon, Sep 17 & Wed, Sep 19 Automatic Stay 88-123 (do problems)
Week 6 Mon, Sep 24 & Wed, Sep 26 finish Automatic Stay
Claims against the Estate
, Ohio v. Kovacs, Epstein v. Unsecured Creditors 124-137 (do problems). You can access the spreadsheet we made by the link at the end.
Week 7 Mon, Oct 1 & Wed, Oct 3 Allowing and Estimating Claims, 137-160 (do the problems, but only skim In re A.H.Robbins Co; just figure out the positions the different committees were taking: who wanted to disallow punitive damages, who not, who to subordinate them?)
Secured Claims, Dewsnup v. Timm, 112 S.Ct. 773 at p. 482 of the book
    Mon, Oct 8 & Wed, Oct 10 Finish secured claims
Week 8 Mon, Oct 15 & Wed, Oct 17 Fall break-no classes
Week 9 Mon, Oct 22 & Wed, Oct 24 Executory Contracts Definition, Assumption: 198-229
Week 10 Mon, Oct 29 & (rescheduled) Executory Contracts Rejection 230-240
Bebchuck & Fried, The Uneasy Case for Providing Secured Creditors with Absolute Priority in Bankruptcy
Week 11 Mon, Nov 5 & Wed, Nov 7 Executory Contracts: Rejection 230-240
Avoiding Powers
p. 241-255 (do the Exercises; not In re Ozark Restaurant Equipment); do the exercises on p. 267-68.
Fraudulent Conveyances
p. 276-290 (BFP v. Resolution Trust Corp.; do the exercises)
Week 12 Mon, Nov 12 & Wed, Nov 14 finish Fraudulent Conveyances
Unreasonably Small Capital p.290-92; problem 8C-2 p. 306
Voidable Preferences
p. 308-315
Week 13 (rescheduled) Voidable Preferences,cont'd, problems 8D-1 to 8D-4 at p. 323
Earmarking p. 324-329
Week 14 Mon, Nov 26 & Wed, Nov 28 Safe Harbors p. 329-342 (Wolas is one of our most important cases)
Setoffs p. 342-345 [ do exercises 8E(1) to 8E(3) ]
Administering the Estate: Use of Assets: Official Committee of Unsecured Creditors v. Mabey, p.386-394, do Problem 9C-1.
Week 15 Mon, Dec 3 Why have a Chapter 11? Baird, A World without Bankruptcy, Bebchuk, A New Approach to Corporate Reorganizations
The Plan of Reorganization
, 565-612 (classification, voting, new value)
Finish; review
Links: Local Loan Co. v. Hunt
Bebchuck & Fried, The Uneasy Case for Providing Secured Creditors with Absolute Priority in Bankruptcy
Baird, A World without Bankruptcy
Bebchuk, A New Approach to Corporate Reorganizations
Discounting Spreadsheet