Secured Transactions: Bankruptcy and the Automatic Stay Podcast
The topic of this podcast is some of the basic concepts of bankruptcy, as well as the automatic stay, and some ways you might find to get around it. While most courses on secured transactions focus on U.C.C. Article 9, which is state law, sometimes you will find that a debtor declares bankruptcy. In the event that there is a bankruptcy, the secured creditor will have to know what actions it can and which it can’t take. Recall that while Article 9 is part of state law, bankruptcy law is part of federal statutory law. At the conclusion of this podcast, you should be able to (1) identify and describe the basic process of bankruptcy, including the various types; (2) describe how the automatic stay works; and (3) describe why a secured creditor might want to attempt to lift the stay.