Professor: Bierschbach, Herz, Araiza, Bell
Credits: 3
Pre/Corequisite: None
The Constitution, like junior high school civics classes, suggests that Congress, the President, and the courts govern in the United States. In reality, however, we live in the 'administrative state': individuals and firms (and, thus, most clients) are most directly and significantly affected not by the actions of Congress, courts, or the President, but rather by those of administrative agencies. This course will introduce the institutions, procedures, and theories of the administrative state. We will explore the constitutional foundations of the modern administrative state, the scope of executive and congressional oversight of agency activity, the procedural and substantive constraints on agency rulemaking and adjudication, and the scope and availability of judicial review of agency action. As time permits, we will also devote some attention to the justifications for and tools government regulation.
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Professors: Epstein/Horwich
Credits: 2
Prerequisite: Debtors' and Creditors' Rights (can be waived with permission of the instructor)
Chapter 11 is widely considered to be one of the most advanced and sophisticated insolvency systems in the world. However, there are other insolvency systems in the United States that work for special debtors. These differ in important ways from Chapter 11. In some instances the difference arises out of the fact that there are governmental or quasi-governmental guaranties. In others the difference arises out of the fact that it is a governmental entity itself that is insolvent.
This advanced bankruptcy seminar will explore the rehabilitation (and liquidation) of insolvent debtors that are not eligible for chapter 11 of the bankruptcy code (i.e., municipalities, financial institutions and insurance companies). Specifically, the seminar will explore chapter 9 of the bankruptcy code, state and federal receivership programs, actions taken by the Securities Investor Protection Corporation (SIPC) (pertaining to failed brokerage firms) and the Federal Deposit Insurance Corporation (FDIC).
Students taking this seminar should have a basic understanding of bankruptcy and corporate law. The seminar is suited for students who may be considering practicing in the area of bankruptcy, as well as those students interested in corporate finance, general corporate law and other similar areas.