Authorised by Academic Registrar, April 1996
Objectives Students completing this subject should have (1) an appreciation of the competing schools of thought on the objectives of corporate insolvency law; (2) an understanding of the underlying principles of corporate insolvency law; (3) an understanding of the impact of insolvency generally on a corporation's rights and liabilities; and (4) an understanding of the legal principles and rules which govern corporate insolvency.
Synopsis The objectives of corporate insolvency law; principles underlying corporate insolvency law; sources of law; an overview of the procedures involved in a corporation being wound up; the concept of corporate insolvency; property available for distribution in a winding up, including trust assets, reservation of title; the treatment of claims and liabilities in a winding up, including the pari passu principle, set-off, proof and priorities in distribution; the avoidance provisions of the Corporations Law including dispositions after the commencement of winding up, preferences, uncommercial transactions, unfair loans, floating charges, executions and attachments; insolvent trading and duty to creditors; company groups and insolvency; receivers and floating charges; alternatives to winding up, in particular company administration and deeds of company arrangement.
Assessment Written assignment (3000 words): 30% and final examination (2.5 hours): 70% or final examination (3.5 hours): 100%