79010 Insolvency and Administration

This subject provides an introduction to insolvency law for business students and provides a solid understanding of the basic legal aspects of personal and corporate insolvency procedures operating in Australia. The subject examines the key legal features of liquidation, voluntary administration and receivership. Particular emphasis is given to discussing the effect of insolvency appointments on different stakeholders (particularly creditors and employees) and the powers of insolvency practitioners (including insolvent trading and voidable transactions). A review of personal bankruptcy laws is also provided. Practical issues involving reporting obligations and the regulation of insolvency practitioners as well as holding creditors meetings and calculating payout ratios is also considered.