One of Your Corporate Clients Has Recently Filed for Bankruptcy

question 68

Essay

One of your corporate clients has recently filed for bankruptcy. In the course of the proceedings, you (a)prepare a plan of reorganization that alters the rights of preferred stockholders, (b)notify the company's creditors of an impending bulk transfer of the company's assets, (c)review IRS secured claims against these assets, (d)restructure the company's debt by reducing its principal amount and extending its maturity, and (e)advise the bankruptcy court as to how this restructuring will impact the company's NOLs. Which of these activities, if any, constitutes the unauthorized practice of law?

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Definitions:

Leadership

The process of influencing the activities of an organized group toward goal achievement, requiring a combination of personality traits, managerial skills, and strategic vision.

Policies

Principles, rules, or guidelines formulated or adopted by an organization, government, or individual to achieve a desired outcome.

Representative Democracy

A system of government where citizens elect representatives to make decisions on their behalf.

Government Officials

Individuals who hold positions of authority in government organizations, responsible for implementing and enforcing laws, policies, and administrative functions.