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:

Personal Work

Tasks or activities performed by an individual that are intended for personal satisfaction, development, or benefit, rather than for employer profit.

"Yellow-Dog" Contracts

Employment agreements where the employee agrees not to join or support a trade union during their employment.

Norris-LaGuardia Act

A 1932 U.S. federal law that limited courts' abilities to issue injunctions against non-violent labor disputes and encouraged collective bargaining.

Taft-Hartley Act

The Taft-Hartley Act, officially known as the Labor Management Relations Act of 1947, restricts the activities and power of labor unions in the United States.