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LAW 845 Com Bankruptcy & Restructuring Units: 3.00
This course will focus on Bankruptcy and Restructuring law as a legal response to business failure with an emphasis on the preservation and realization of value from viable but insolvent businesses. It will include an overview of enforcement and restructuring options available under Canadian law such as bankruptcy, receivership, proposals and plans of arrangement under the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act. It will explore the apparent conflict between the restructuring and business renewal objectives of bankruptcy and restructuring law and the need for certainty in the enforcement of legal rights. It will review the competing interests and rights of various creditor constituencies affected by commercial insolvency including secured and unsecured lenders, suppliers, employees and pension beneficiaries and the role of government as a participant in the restructuring process. The course will review the basic principles of court supervised sales of business assets and the priority of claims among creditors. Professional ethics issues in these matters will be addressed. Cross listed with Law 445. Three term hours.
Offering Faculty: Faculty of Law