BLU6D - Law: Case Study: The Powerball Winner's Bankruptcy

Business Law Learning Objectives (NBEA Standards)

1. Explain the different types of bankruptcy and their implications.

2. Understand the legal process of filing for bankruptcy.

3. Assess the impact of bankruptcy on both debtors and creditors.

4. Explore alternatives to bankruptcy and debt relief options.

5. Compare and contrast U.S. bankruptcy laws with international bankruptcy regulations.

This case study, "The Powerball Winner's Bankruptcy," offers an engaging and thought-provoking exploration of bankruptcy law through the relatable and dramatic story of a lottery winner who faces financial ruin. The case study provides a comprehensive look at the complexities of U.S. bankruptcy processes, including the differences between Chapter 7 and Chapter 13 filings, the legal procedures involved, and the impact on both creditors and debtors.

Students will critically analyze Ethan Reynolds' financial downfall, exploring key decisions, legal implications, and the alternatives he could have pursued. Additionally, the case study introduces global perspectives by comparing international bankruptcy laws, enhancing students' global awareness of financial and legal systems.

With real-world legal precedents, critical thinking questions, discussion prompts, and engaging graphics, this case study not only deepens understanding but also cultivates essential skills like problem-solving, analysis, and ethical reasoning.

Aligned with National Business Education Association (NBEA) Business Law Standards, this resource provides a versatile and interactive learning experience that will enhance classroom discussions and prepare students for real-life legal and financial considerations.