Understanding Bankruptcy

The fifth edition of Understanding Bankruptcy continues to provide a detailed introduction to bankruptcy and related state and federal debtor-creditor law. It will be helpful for students taking an introductory Creditors' Rights course that emphasizes bankruptcy; a free-standing Bankruptcy course; or an advanced course in Chapter 11 Reorganization. This edition includes explanations of the effect of Supreme Court and Court of Appeals decisions since the last edition, including the so-called "Texas Two-Step" approach to Chapter 11 cases, an explanation of Subchapter V for Small Business Reorganizations, and an updated explanation of transnational cases. It also contains updates reflecting the changes in dollar amounts to a number of Code provisions that went into effect on April 1, 2025.