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:

Higher Needs

In Maslow's hierarchy, refers to the more complex emotional or psychological desires such as esteem, respect, and self-actualization.

Psychoanalysis

A therapeutic approach founded by Sigmund Freud that aims to explore the unconscious mind to understand and treat psychological disorders, emphasizing early childhood experiences and the role of the unconscious.

Group Therapy

A form of psychotherapy where one or more therapists treat a small group of clients together, exploring shared issues and dynamics.

Operant Behavior

A method of learning that employs rewards and punishments for behavior, emphasizing the effects of external stimuli on behavior.