The focus of this course is on the breakdown of the debtor-creditor relationship. What are the rights of a creditor when the debtor is unwilling to pay? What remedies are available to the debtor who is unable to pay his or her debts? What are the remedies of a creditor who sees the debtor's meager assets being pursued by other, more active creditors? In other words, this course will wrestle with questions such as (1) What can David Alan Coe do if the Grand Funk Railroad does not pay him the $300,000 awarded by the court? (2) What can Fredericks' of Hollywood do if Natasha does not pay for the clothing she has ordered and worn? (3) What can Shmatte do if it is unable to pay any of its creditors? (4) What can Chaste do if other creditors are helping themselves (with and without judicial proceedings) to Shmatte's assets? A substantial part of the material in this book deals with how creditors obtain "favored status." Essentially, creditors obtain "favored status" by obtaining either a lien or a priority.
David G. Epstein & Jonathan M. Landers, Debtors and Creditors: Cases and Materials (2nd ed. 1982).