76080 Finance Law
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particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2017 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Requisite(s): 70417 Corporate Law AND 70517 Equity and Trusts AND 70327 Commercial Law
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Description
This subject provides a detailed examination of the Personal Property Securities Act 2009 (Cwlth) including what constitutes secured finance, compliance with the regime, consequences of non-compliance and lessons from domestic and foreign jurisprudence combining the legal analysis with practical application. This subject also considers the legal framework within which commercial enterprises raise debt finance and an examination of issues in talking security. Various forms of secured and unsecured finance are considered, including acquisition and asset financing arrangements, lending to trusts and derivatives. Methods for protecting unsecured loans are also covered including negative pledge lending, guarantees and debt subordination agreements. Key aspects of insolvency law are also discussed.
Subject learning objectives (SLOs)
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the development of the following graduate attributes:
- Legal Knowledge
An advanced and integrated understanding of a complex body of legal knowledge including the Australian legal system, social justice, cultural and international contexts, the principles and values of ethical practice, and contemporary developments in law and its professional practice (1.0) - Critical Analysis and Evaluation
A capacity to think critically, strategically and creatively including an ability to identify and articulate complex legal issues, apply reasoning and research to generate appropriate theoretical and practical responses, and, demonstrate sophisticated cognitive and creative skills in approaching complex legal issues and generating appropriate responses (3.0) - Research Skills
Well-developed cognitive and practical skills necessary to identify, research, evaluate and synthesise relevant factual, legal and policy issues and demonstrate intellectual and practical skills necessary to justify and interpret theoretical propositions, legal methodologies, conclusions and professional decisions (4.0) - Communication and Collaboration
Effective and appropriate professional communication skills including highly effective use of the English language, an ability to inform, analyse, report and persuade using an appropriate medium and message and an ability to respond appropriately (5.0)
Assessment
Assessment task 1: Class Participation
| Objective(s): | This task contributes specifically to the development of the following graduate attributes: 1.0, 3.0 and 5.0 |
|---|---|
| Weight: | 20% |
Assessment task 2: Presentation / Problem Question
| Objective(s): | This task contributes specifically to the development of the following graduate attributes: 1.0, 3.0, 4.0 and 5.0 |
|---|---|
| Weight: | 20% |
Assessment task 3: Research Essay
| Objective(s): | This task contributes specifically to the development of the following graduate attributes: 1.0 and 3.0 |
|---|---|
| Weight: | 60% |
Required texts
McCracken et al, Banking and Financial Institutions Law, 8th ed, Thomsonreuters
Harris and Mirzai, Annotated Personal Property Securities Act 2009 (Cth) (CCH, 2nd edition, 2014)
In addition students should have access to the Corporations Act 2001 (Cth) (2017 edition if purchased in hard copy). There is an annotated version Baxt and Finnane, Corporations Legislation 2017 (Thomsonreuters)
Recommended texts
Altunbas, Syndicated loans: a hybrid of relationship lending and publicly traded debt, Palgrave McMillan
Duggan and Brown, Personal Property Securities Law in Australia, LexisNexis Butterworths
Cseti and Wardell, Understanding Personal Property Securities Law, 2nd ed, CCH
Goode and McKendrick, Commercial Law, 4th ed, LexisNexis
Goode, Goode on Payment Obligations in Commercial and Financial Transactions, 2nd Edition, Sweet and Maxwell
Good, Goode on Legal Problems of Credit and Security, 4th Edition, Sweet and Maxwell
McCormack, Secured Creditor under English and American Law, Cambridge University Press
Mallesons Stephen Jacques, Australian Finance Law, 6th ed Thomsonreuters
Meagher, Heydon and Leeming, Meagher Gummow and Lehane’s Equity: Doctrines and Remedies, LexisNexis AU
Murray and Harris, Keay’s Insolvency, 8th ed, Thomsonreters
Sykes and Walker, The Law of Securities, 5th ed Thomsonreuters
Shutter, A Practitioner′s Guide to Syndicated Lending, Sweet and Maxwell
Rhodes, Syndicated lending: practice and documentation, Euromoney
Vinter, Practical Project Finance, 3rd Edition, Sweet and Maxwell
Whitfield, Syndicated Loan Transactions, Sweet and Maxwell
Wood, Project Finance, Securitisations and Subordinated Debt, 2nd Edition, Sweet and Maxwell
Wood, Conflict of Laws and International Finance, 2nd Edition, Sweet and Maxwell
Wood, Set-Off and Netting, Derivatives and Clearing Systems, 2nd Edition, Sweet and Maxwell
Wood, Comparative Law of Security Interests and Title Finance, 2nd Edition, Sweet and Maxwell
Wood, International Term Loans, Bonds, Guarantees and Legal Opinions, 2nd Edition, Sweet and Maxwell
Wood, Principles of International Insolvency, 2nd Edition, Sweet and Maxwell
Other resources
Lennox, Australian Corporate Finance Law, LexisNexis Butterworths (looseleaf and online)
O’Donovan, Personal Property Securities Law in Australia, Thomsonreuters, (looseleaf and online)
Wappett (et al), Personal Property Securities in Australia, LexisNexis Butterworths (looseleaf and online)
