Experiential Learning in Restructuring Law

Law schools formerly conceived their mission more narrowly than they do today. The primary goal was to train students to think like lawyers. This is no longer viewed as the only objective. Law schools must also impart professional skills so that students will know how to act like lawyers. The creation of an advanced course on corporate restructuring law illustrates how substantive legal knowledge, legal skills and professional identity can be developed through the use of simulations. The course used two linked simulations: first, a multiparty chambers application for an extension of a stay of proceedings and other relief under the CCAA; and second, the negotiation of a plan of arrangement culminating in a meeting of creditors in which the plan is accepted or rejected