This course introduces you to the law governing the relations between financially distressed business debtors (those who owe) and their creditors (those to whom obligations are owed). We will consider why businesses encounter financial troubles, and what remedies businesses may pursue outside of bankruptcy court to solve their troubles. We will then focus on business reorganization under the Federal Bankruptcy Code. We will consider, throughout the course, how creditors, debtors and their attorneys take the effects of bankruptcy law into account in (i) counseling clients, (ii) negotiating, documenting and performing contracts, (iii) reducing risk, and (iv) resolving disputes with and without litigation. Recommended: Secured Transactions (LAW 554).