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Apr 19, 2024
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2021-2022 College Catalog [ARCHIVED CATALOG]
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PAR 209 - Bankruptcy Procedures 3 Credits, 3 Contact Hours 3 lecture periods 0 lab periods
Application of legal procedures in bankruptcy. Includes jurisdiction, cast of characters and their roles in bankruptcy, client interview, evaluation of options, advising client, and drafting Chapter 7 liquidation, Chapter 13 adjustment of debts of individuals, Chapter 12 adjustment of debts of family farmer, Chapter 11 reorganization, and the paralegal’s role.
Prerequisite(s): PAR 101 Information: Prerequisite may be waived if employed in a legal-related field; see a PAR advisor or course instructor.
Course Learning Outcomes
- Discuss the organization of the bankruptcy code and rules.
- Describe the structure and jurisdiction of the bankruptcy court system and its role within the federal court system.
- Describe the different relief available under the operative chapters of the Bankruptcy Code, together with who is eligible for relief there under, and the advantages and disadvantages under each chapter.
- Describe an overview of basic terminology, process and procedures used in bankruptcy.
- Describe the steps and draft the pleadings necessary to commence a bankruptcy case, including the petition, statement of affairs, and schedules.
- Identify common actions taken by debtors, such as reaffirmations, adversary proceedings, and contested actions such as motions to dismiss or convert.
- Identify common actions taken by creditors, such as proofs of claim, adversary proceedings such as complaints objecting to discharge, and contested actions such as motions for abandonment and stay relief.
- Explain the types and priorities of claims, such as secured, unsecured (administrative, priority and non-priority), bifurcated, and equity security holder claims.
- Explain Paralegals’ roles within the bankruptcy field of law.
Outline:
- Overview
- Historical development
- Fresh start for debtor
- Protection for creditors
- Jurisdiction
- Bankruptcy act
- Bankruptcy code and amendments and bankruptcy rules
- Structure of bankruptcy court system, role in the federal court system and relationship to district court
- Appellate courts
- Cast of characters and their Roles in Bankruptcy
- Debtor
- Definition; eligibility; capacity to file
- Protections afforded by bankruptcy
- Objectives
- Concept of discharge
- Priority of claims and distractions
- Petition, statement of affairs and schedules
- Creditor
- Definition
- Protections afforded by bankruptcy
- Objectives
- United States trustees and private trustee
- Bankruptcy judge and staff
- Office of the clerk of the bankruptcy court
- Client interview, Evaluation of Options, Advising Client, and Drafting
- Debtor client
- Interviews
- Analysis - non-bankruptcy or bankruptcy
- Alternatives to bankruptcy
- Bankruptcy choices
- Dischargeability and liquidation issues
- Drafting pleadings to commence bankruptcy
- Creditor client
- Interviews
- Causes of distress
- Cash collateral
- Adequate protection
- Automatic stay
- Non-dischargeability issue
- Analysis
- Drafting proof of claim and application for abandonment
- Chapter 7 Liquidation
- Filing of a petition and significance thereof
- Exemptions
- Chapter 7 trustee
- Order and notice of bankruptcy
- 341 meeting of creditors
- Discharge and reaffirmation
- Proofs of claim and interest
- Motions and complaints
- Distribution of property of the estate
- Chapter 13 Adjustment of Debts of individuals
- Filing of a petition and significance thereof
- Chapter 13 trustee
- Chapter 13 plan
- Discharge
- Chapter 12 Adjustments of Debts of Family Farmer
- Filing of a petition and significance thereof
- Chapter 12 trustee
- Chapter 12 plan
- Discharge
- Chapter 11 Reorganization
- Filing of a petition and significance thereof
- Debtor in possession and appointment of Chapter 11 trustee
- Reporting requirements
- Employment and compensation of professionals
- Committees of unsecured creditors and equity security holders
- Disclosure statement
- Chapter 11 plan by debtor or by other parties in interest
- Discharge
- Paralegals’ Roles
- Responsibilities to and communication with clients
- Attorney-legal assistance team in bankruptcy
Effective Term: Fall 2011
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