79033 Insolvency Administration
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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
There are course requisites for this subject. See access conditions.
Description
This subject provides students with legal knowledge needed to assist business, concerning the protection and regulation of insolvent individuals and corporations. Students examine the legal procedures involved in insolvency law (such as bankruptcy petitions, lodging proofs of debt and distribution of insolvent estates) as well as the impact of insolvency upon stakeholders such as employees, unsecured creditors, and individual and corporate players. Particular emphasis is placed on the various methods of administering insolvent estates including discussing powers of insolvency administrators, voluntary administration, liquidation and the rights of creditors.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | understand and apply insolvency laws across a range of commercial situations involving all forms of business structures; |
|---|---|
| 2. | appreciate the commercial and legal issues that arise during times of financial difficulty; |
| 3. | identify and balance the competing interests of different stakeholders involved in an insolvent estate; |
| 4. | demonstrate effective spoken and written communication skills. |
Teaching and learning strategies
Strategy 1: The subject is taught in a three hour lecture format each week for a thirteen week semester at the City campus. UTSonline is available for student use. The focus of the learning process is to expose students to the fundamental conceptual and technical material through lectures where theoretical material and illustrations of developments in practice will be covered. This will be supported by a combination of practical exercises, case studies and discussion exercises
Strategy 2: Students will also participate in an independent research exercise where they will explore selected material in greater depth. The student will then present their findings through a class presentation and a written report.
Strategy 3: Students will conduct independent relevant research in preparation for class presentation and delivery of a research paper
Content (topics)
Topic 1: Introduction to insolvency - identifying solvency
Topic 2: Informal workouts - debt restructuring
Topic 3: Corporate insolvency - overview of liquidation
Topic 4: Corporate insolvency – liquidators
Topic 5: Corporate insolvency - proof of debts, priorities, meetings,
termination
Topic 6: Corporate insolvency - voluntary administration
Topic 7: Corporate insolvency - deed of company arrangements
Topic 8: Corporate insolvency - receiverships
Topic 9: Personal insolvency – bankruptcy
Topic 10: Personal and corporate and personal insolvency - avoidance provisions
Topic 11: Cross border insolvency
Assessment
Assessment task 1: Class Participation
| Weight: | 20% |
|---|---|
| Criteria: | The assessment criteria will be regular, high quality contributions to class discussions that build on previous points made and relate the issues considered to current events and developments. Contributions must demonstrate an understanding of the material covered in the required reading. |
Assessment task 2: Research (Oral in Class Presentation and submitting a written paper)
| Weight: | 20% |
|---|---|
| Length: | 1500-2000 words in length |
| Criteria: | The assessment criteria will be:
The suggested word length for answering the seminar problem is 1,500-2,000 words. |
Assessment task 3: Final Examination
| Weight: | 60% |
|---|
Required texts
Christopher Symes & John Duns Australian Insolvency 3rd Edn. Law LexisNexis Butterworths 2015
You will also need to have access to an up to date copy of the Corporations Act, 2001 (Cth) and the Bankruptcy Act 1966.
Recommended texts
Harris J, Hargovan A and Adams M, 5th Edn. Australian Corporate Law 2016, LexisNexis Butterworths)
References
Books (Always ensure that you obtain the most recent edition of the reference)
Finch V, Insolvency Law (2002, Cambridge Uni Press-UK law)
Goode R, Principles of Corporate Insolvency Law (3rd ed, 2005, Sweet and Maxwell-UK law)
Clarke, F.L., G.W. Dean, K.G. Oliver, Corporate Collapse, Cambridge University Press, Melbourne.
Kharbanda, O.P. and Stallworthy, E.A. Company Rescue, London
Altman, E. (1983), Corporate Financial Distress: A Complete Guide to Predicting, Avoiding and Dealing with Bankruptcy, London: John Wiley & Son
Journals
Australian Insolvency Journal (IPAA, hard copy only)
Company and Securities Law Journal (hard copy and Lawbook Co Online)
Insolvency Law Journal (hard copy and Lawbook Co Online)
Insolvency Law Bulletin (LexisNexis Butterworths, hard copy only)
Government Reports
CAMAC, Report on Rehabilitating Large and Complex Enterprises in Financial Difficulties (October 2004) http://www.camac.gov.au
Federal Parliamentary Joint Committee on Corporations and Financial Services, Corporate Insolvency Laws: a Stocktake (June 2004).
The Harmer Report, Australian Law Reform Commission, General Insolvency Inquiry, Report number 45, 1988, AGPS, Canberra
Other
Anderson C and Morrison D, Crutchfield’s Voluntary Administration (3rd ed, 2003, Lawbook Co)
Coburn N, Coburn’s Insolvent Trading (2nd ed, 2003, Lawbook Co)
Ferrier Hodgson, Australian Insolvency Management Practice (Looseleaf and online, CCH)
Gronow M, McPherson’s Law of Company Liquidation (5th ed, online, Lawbook Co)
Keay A, Avoidance Provisions in Insolvency Law (1997, Lawbook Co) O?Donovan J, Company Receivers and Administrators (Loose-leaf and Lawbook Co Online)
Other resources
Useful Websites
Australian Securities and Investments Commission
http://www.asic.gov.au
Insolvency Practitioners Association of Australia
http://www.ipaa.com.au
Insolvency and Trustee Service Australia
http://www.itsa.gov.au
Australian Restructure Insolvency and Turnaround Association
http://www.arita.com.au
Turnaround Management Association
http://www.turnaround.org.au
