Wednesday, January 27, 2010

Agricultural Bankruptcy Class

It is estimated that at any given time, about 25% of the farming community may be experiencing financial distress, often as a result of natural disasters or economic conditions beyond the farmer's control. And, as many farm families do not have access to affordable health care, farm accidents or health emergencies are a continual worry.

While risk management strategies can help, agricultural bankruptcy is an important legal tool that may be able to save a farm family from financial crisis. In the LL.M. Program each year, we offer a course in Agricultural Bankruptcy that covers both Chapter 12 reorganization and Chapter 7 liquidation. As farmers are often treated differently in bankruptcy, and as only family farmers and family fisherman are eligible for Chapter 12 relief, these important subjects are often omitted from law school classes.

In our Agricultural Bankruptcy class this week, we discussed the excellent materials published by the National Consumer Law Center. It is my privilege to contribute the chapter on farm bankruptcy to their Consumer Bankruptcy Law & Practice Guide.

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