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ATTENDANCE AT
THE FIRST CLASS SESSION IS REQUIRED (unless permission is granted by Prof. Ehrlich) MATERIALS FOR THE BANKRUPTCY COURSE Pick up the materials in the
Bookstore 1.
U.S. Bankruptcy
Code & Rules Booklet (2012 edition, Legalpub.com, Inc.,) 2.
Ehrlich, Photocopied
Assignments & Readings (the “Readings”) 3.
Ehrlich, Photocopied Official Bankruptcy Forms 4.
Ehrlich, Materials
For Students Who Have Not Taken Secured
Transactions |
1.
Thursday, January 3:
a. Introduction:
Read pages 1-30 of the Readings. Don’t skip the Blackstone excerpts. If you don’t have time to get to the Bookmart, you can access pages 1-30 here.
b. Be prepared to identify two
fundamental reasons for having bankruptcy laws.
c. Read a very recent update on
the impact of the Bankruptcy Amendments & Consumer Protection Act of 2005: Update
d. Students who have not taken Secured Transactions
should read the material referred to on the first page of the photocopied
Secured Transaction materials: Materials For Students Who Have Not Taken Secured Transactions
e. Take a look at the lists of corporate bankruptcies in
the following links. Do any of the
companies seem familiar?
i. Billion Dollar or
Greater Bankruptcies Since 1980.
ii. One-Half Billion
Dollar or Greater Bankruptcies Since 1980.
2.
Tuesday,
January 8:
a. State Law Remedies: Read the materials listed in Part II (A)(1) of the Assignments and
review the Judicial Council forms referred to in part II(A)(2). The forms are
also available online: Writ of Execution, Notice of Levy, Memorandum of Garnishee,
Exemptions From The Enforcement Of Judgments, Claim of Exemption
i. Fill-in
parts 1-19 of the Writ of Execution, and parts 1-3 of the Notice of Levy. Click here for more information.
b. Take a look at the
California Judicial Council “Abstract of
Judgment” form. What is the purpose of
the form?
c. The Role of Security Interests: Students who have not yet completed Secured
Transactions (or students who want to refresh their recollection) should read
the first part of the Materials For
Students Who Have Not Taken Secured Transactions.
d. Redemption:
Read Part II(B) of the Assignments.
3.
Thursday,
January 10:
a. Review Redemption: Read Part II(B)
of the Assignments.
b. Pre-Judgment Remedies: Part II(C)(1) and (2).
c. Group Remedies Under State Law: Part III(A)(1) and (2).
d. Initiating Voluntary Bankruptcy Cases: Part IV(A)(1)(a).
4.
Tuesday,
January 15:
a. Filing Voluntary Petitions: Initiating Voluntary Bankruptcy Cases:
i. Part IV(A)(1)(a).
ii. Part IV(A)(1)(b)(1)-(7)
b. Consumer Debtor Requirements:
i. Part IV(A)(1)(c)(1)-(3)
ii. Carefully review Official Form 22A (in your
Supplement). An on-line copy of the latest Form 22A & Committee Notes are
at these links: Form 22A (2010) | Committee Note (22A-C)
iii. Look at the U.S. Trustee Means Testing Page
iv. Respond to the following Means Testing
Hypotheticals: PDF Format, MsWord Format
5.
Thursday, January 17:
a. Consumer Debtor Requirements:
i. Review §707(b)(2)
ii. Review the case of In
re: Patricia Ann Garcia. The court
misinterprets §707(b)(2). Can you see why?
iii. Carefully review Official Form 22A (in your
Supplement). An on-line copy of the latest Form 22A & Committee Notes are
at these links: Form 22A (2010) | Committee Note (22A-C)
iv. Look at the U.S. Trustee Means Testing Page
v. Respond to the following Means Testing
Hypotheticals: PDF Format, MsWord Format
b.
Debtor’s Duties & Attorney’s Obligations:
i. Part IV(A)(1)(c)(4)-(5).
ii. Read the Standing
Administration Guidelines for Chapter 7.
c.
Involuntary
Petitions: Part IV(A)(2).
i. Carefully read §303(b) and (h) and respond to this
situation: Fifteen employees are owed $255,000 in back wages. It appears that the employer, Magco Partnership (a California general partnership) is not
paying suppliers and others creditors as well. The general partners of Magco live in a wealthy suburb and drive fancy cars. The 15 employees have approached you seeking
legal help. The employees assume that
you will bring a standard law suit to help them collect. You have agreed to represent them and believe
you can get them a check in 48 hours.
Here’s what you did next:
1. You prepared an involuntary bankruptcy petition,
naming Magco as the debtor and faxed a copy to the
senior partner of Magco.
2. You called the senior partner and stated the
following: “Check your fax machine. If you don’t have a certified check in my
hands within 48 hours, the petition will be filed. Your company will be thrown into chapter 7
bankruptcy, and the trustee will have access to all of your personal assets to
satisfy the claims of the creditors.
3. Respond to these two questions:
1. Are you bluffing?
Do you have sufficient legal grounds under the bankruptcy code to
commence an involuntary case? Would the
petition be granted under §303(b) and (h) of the Bankruptcy Code?
2. What risks, if any, are you and the clients facing if the petition is dismissed for failing to meet the requirements of §303(b) and (h).
6.
Tuesday,
January 15:
a. Filing Voluntary Petitions: Initiating Voluntary Bankruptcy Cases:
i. Part IV(A)(1)(a).
ii. Part IV(A)(1)(b)(1)-(7)
b. Consumer Debtor Requirements:
i. Part IV(A)(1)(c)(1)-(3)
ii. Carefully review Official Form 22A (in your
Supplement). An on-line copy of the latest Form 22A & Committee Notes are
at these links: Form 22A (2010) | Committee Note (22A-C)
iii. Look at the U.S. Trustee Means Testing Page
iv. Respond to the following Means Testing
Hypotheticals: PDF Format, MsWord Format
7.