LAWS6159 - Insolvency Law

Objectives

• Examine the law, policy and practice of both personal and corporate insolvency, under the Bankruptcy Act 1966 and the Corporations Act 2001.
• Examine the purposes of insolvency law, including debtor protection, access of creditors to the debtor’s assets and assets disposed of, the need for investigation of financial failure, and financial reconstruction and survival.
• Explore the principles of insolvency law including the pari passu principle of equal sharing, and exceptions to that principle, collectivism, compulsion and maintenance of creditors’ pre insolvency rights.

Content

The processes used by a creditor to commence insolvency proceedings; a sequestration order in bankruptcy under the Bankruptcy Act; a winding up order in corporate insolvency under the Corporations Act; Other Bankruptcy Act insolvency regimes - Part X arrangements, Part IX debt agreements, Part XI deceased estates; the nature of property that is available to creditors in bankruptcy and liquidation; voidable transactions in bankruptcy and under the equivalent corporate regime; the involvement of unsecured creditors through meetings of creditors, funding of litigation, and committees of inspection, and the responsibilities of the liquidator and trustee to those creditors; the liability of directors and company controllers in company insolvency, in particular their liability for insolvent trading and their personal liability for taxes.

Session

Semester 2 Intensive
7, 8 & 14, 15 August 2009

Please note: Enrolments for this unit are now closed - 23/07/2009

The timetable is subject to frequent changes. Please refer to the latest version of the Postgraduate Timetable.

Assessment

• 1 x Take-Home Exam (100%)

Courses this unit is available in

Master of Laws | Graduate Diploma in Law | Master of Business Law | Graduate Diploma in Commercial Law | Graduate Diploma in Corporate, Securities and Finance Law