601 Corporate Reorganization & Restructuring (Wood)

LAW601

Corporate Reorganization and Restructuring

(Wood)

Prerequisite courses: LAW584 Bankruptcy & Insolvency Law

Prerequisite for:

Instructor(s): Professor Roderick Wood

Course credit: 3

Method of presentation: Seminar

METHOD OF EVALUATION

Students will be assessed on the following basis:

a. court application - oral 20%

b. court application - written 30%

c. negotiation exercise - 30%

d. class participation - 20%

COURSE DESCRIPTION

Corporate reorganization and restructuring law defines a process through which an insolvent corporation attempts to reach an arrangement or proposal with its creditors. Some of Canada’s largest corporations, such as Air Canada, have used this process as an alternative to bankruptcy in order to avoid liquidation of the firm. Working through a hypothetical corporate reorganization, students will represent various clients and argue various positions on behalf of their clients.

Students will acquire an understanding of the fundamental rules and principles of corporate reorganization and insolvency law within the context of a legal skills-training simulation that will also develop their ability to advise clients, negotiate with other lawyers and present arguments before a judge. The course will be co-taught by a professor and a senior insolvency law practitioner.

The first simulation will involve a multi-party court application before a judge. Parties will make prepare notices of application, bench briefs and affidavits, and will make oral submissions on such matters as: (1) the extension of the stay of proceedings; (2) approval of an interim financing (DIP) charge; (3) the extension of the stay of proceedings to administrative bodies; (4) the removal of directors.

The second simulation will involve a multi-party negotiation on the terms of a proposed plan of arrangement followed by a meeting of creditors in which the creditors vote for or against the amended plan.

Participants will also be responsible for delivering a 20 minute presentation and leading a seminar discussion on an assigned topic.

SPECIAL COMMENTS

Description updated 2017-18. Please contact the instructor for any specific questions you may have related to this particular course section.

REQUIRED TEXTS (IF ANY)

Online Cases and Materials (available electronically at no charge on the TWEN site)

Wood, Bankruptcy and Insolvency Law, 2nd ed (Irwin Law, 2015) available from U of A bookstore.