Business Bankruptcy: Financial Restructuring and Modern Commercial Markets provides students with a contemporary stand-alone business bankruptcy text. Designed to teach financial restructuring law in a realistic twenty-first century commercial context, the book uses problem sets to explore not only Chapter 7 and 11 bankruptcy, but also out-of-court restructuring, modern financial products and transactions, and advanced in-court restructuring topics.New to the Second Edition: Clear thematic structure emphasizing the limitations on out-of-court restructuring and how bankruptcy attempts to address those limitationsReorganized chapter flow tracking traditional order of bankruptcy topicsSubstantially condensed text through elimination of extra cases and statutory excerptsUpdated problem sets, including coverage of privacy issues in bankruptcy sales and capstone strategic issuesExpanded coverage of out-of-court restructuringNew chapters providing overview of bankruptcy process and summary comparing issues in out-of-court and in-court restructuringProfessors and students will benefit from: Unique coverage of out-of-court restructuring providing students with realistic view of contemporary restructuring practice and showing what Chapter 11 adds to the financial restructuring toolkitDetailed coverage of modern financial products and markets—derivatives, securitization, loan syndications, and claims trading—familiarizing students with the dynamics of the modern restructuring landscapeComprehensive expository text clearly explaining the operation of the Bankruptcy Code and the policy issues involvedIn-depth case-studies contextualizing judicial decisions within the larger strategic pictureIncorporation of actual deal documents, including a bond indenture, a loan syndication agreement, ISDA Master Agreement, and a restructuring support agreementModular design enabling optional coverage of advanced topics