LAW 7115 - Insolvency Law | Course Outlines

LAW 7115 - Insolvency Law

North Terrace Campus - Winter - 2017

The course will cover insolvency of corporations and individuals, and will include: (1) An introduction to the theory, policy and history of insolvency law, and to its fundamental principles; (2) An introduction to the main forms of insolvency procedure for individuals (bankruptcy and its alternatives) and corporations (liquidation, voluntary administration, and receivership); (3) Issues in relation to personal insolvency including consumer bankruptcy, the property of the bankrupt 'estate', and the rights of bankrupts and restrictions upon them; (4) The role and duties of directors; (5) The regulation and reform of insolvency law and the profession, and 'globalisation' of insolvency law and practice through involvement of international bodies; (6) An introduction to cross-border insolvency. By the end of the course students should have a grounding in the basic principles and rules of Australian insolvency law, an understanding of, and ability to evaluate, the key theoretical and policy issues affecting insolvency law and its reform, an appreciation of contemporary international developments, and an ability to research and analyse problems on Australian insolvency law.

Open All

Course Details

Course Code	LAW 7115
Course	Insolvency Law
Coordinating Unit	Adelaide Law School
Term	Winter
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Intensive
Available for Study Abroad and Exchange	Y
Prerequisites	Students without a Bachelor of Laws must have completed LAW 7177
Assessment	Typically will include either a research essay or examination.

Course Staff

Course Coordinator: Professor Christopher Symes

Professor (Dr) Christopher Symes
Room 2.23 Ligertwood Building
Phone 8313 4452
email christopher.f.symes@adelaide.edu.au

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

1. To further the student’s knowledge and understanding of personal and corporate insolvency law, practice and regulation
2. To further the student’s ability to understand, analyse and solve practical issues and problems associated with the personal and corporate insolvency law
3. To evaluate selected Australian personal and corporate insolvency law issues in the global context
4. To gain awareness of international developments in selected personal and corporate insolvency law issues
5. To develop critcial thinking using personal and corporate insolvency law
6. To apply excellent research skills

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1,2,3,4,5,
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1,2,3,4,5
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	3,4,5,
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	4,5,
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	3,4,5
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	3,4,5

Learning Resources

Required Resources

As this is a Master level course there is no one text book that covers all aspects of corporate and personal insolvency at the depth explored in this course.

However, the undergraduate text Symes & Duns Australian Insolvency Law 3rd ed (2015) is certainly a useful, perhaps essential, read.
There is also a companion casebook: Symes,Brown & Welland Australian Insolvency Law Cases Materials (2016). This also is a useful, perhaps essential, read.

Practitoners will often refer to Keay's Insolvency Personal and Corporate Law and Practice 9th ed (2016) by Murray and Harris - Australia.

Access to current legislation the Corporations Act 2001 (Cth) and the Bankruptcy Act 1966 (Cth) is essential.

Insolvency law is dynamic so books can become out of date as far as detail is concerned, and some books are overseas texts, so bear that in mind when reading (e.g. UK, US) .

Key relevant general texts are:

Finch, Corporate Insolvency Law, Perspectives and Principles, 2nd ed Cambridge (2009), UK

O’Donovan, Company Receivers and Administrators (looseleaf, 2 volumes)- (Aus) This is a practitioner book frequently updated

Australian Corporations Law (CCH, looseleaf)

Annotated Bankruptcy Act 1966 6th ed by Paul Nichols (Lexisnexis, 2014)

Fletcher, The Law of Insolvency 4th ed (2009) UK

Other leading Australian Company Law textbooks (e.g. Ford, or Lipton, Herzberg and Welsh) will contain useful introductory chapters on insolvency law.

Recommended Resources

Journals that are important in Insolvency Law include

Insolvency Law Journal (Thomson Reuters, Aus)

Insolvency Law Bulletin (Lexisnexis, Aus)

International Insolvency Review (INSOL published in UK)

Insolvency Law and Practice (UK)

Insolvency Intelligence (UK)

Australian Insolvency Journal (Journal of IPA/ARITA

Company and Securities Law Journal (Aus)

Australian Journal of Corporate Law

On-line sites that are important include

Large lawfirms in Australia will have webpages dedicated to Restructuring and Insolvency matters.

For example see claytonutz.com.au
allens.com.au
kwm.com.au

Online Learning

This course will be delivered on-line.
There are numerous lectures and activities delivered using the on-line platform.

Learning & Teaching Modes

This course is to be delivered on-line.
There are no face to face lectures or seminars scheduled.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The workload is equivalent to a Level 8 AQF course as required by the Insolvency Practice Rules 2016 (Cth).

Learning Activities Summary

Course stage	Course component	Topic
Part I	Module 1	An introduction to the theory, policy and history of insolvency law, and to its fundamental principles
Part I	Module 2	An introduction to the main forms of insolvency procedure for individuals (bankruptcy and its alternatives) and corporations (liquidation, voluntary administration, and receivership)
Part I	Module 3	Issues in relation to personal insolvency including consumer bankruptcy, the property of the bankrupt 'estate', and the rights of bankrupts and restrictions upon them
Part I	Module 4	The role and duties of directors
Part II	Module 5	The position of security and rights and duties of secured creditors
Part II	Module 6	The regulation and reform of insolvency law and the profession, and 'globalisation' of insolvency law and practice through involvement of international bodies;
Part II	Module 7	An introduction to cross-border insolvency

Specific Course Requirements

None.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Task name	Due Date	Weighting % of final mark	Individual or group	Redeemable	Course Learning Outcome
Case comment	28/07/17	30	individual	No	1,5,6
Research essay	25/08/17	70	individual	No	1-6

Assessment Detail

Case comment -30%

Assessment will be based on a written paper of a maximum 1500 words. The task is to identify the precedential value of a recent case chosen by the student. The written paper is due in August.

Case comments can be written on any of the following areas:
Definition of insolvency
The property of the bankrupt ‘estate’
Alternatives to bankruptcy (Part IX or Part X)
The rights of bankrupts and restrictions upon them
The role and duties of directors of insolvent companies
The rights of secured creditors in corporate insolvencies
The remuneration of insolvency professional
Cross-border insolvency
The sale of corporate assets by a receiver
Public and private Examinations
Proof of Debts
Ranking of claims
Challenges to liquidator’s actions
Set off in bankruptcy
Cases do not have to be long and complex nor necessarily the seminal case but should express a ratio to assist the class in understanding the area of insolvency law.

Research Essay – 70%
Word limit: 6000 words.

The research paper may be on any aspect of insolvency law you choose, though can build upon your earlier case comment area if you wish. The precise topic/title must be approved by the course coordinator and advice will be given to those who need help choosing or framing a topic. Further criteria, and a timetable, for the research assignment will be notified at the start of the course.

Submission

Standard Adelaide Law School submission requirements apply. Specific information will be provided in the assessment instructions for each item of assessment.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
The University Writing Centre provides academic learning and language development services and resources for local, international, undergraduate and postgraduate coursework students enrolled at the University of Adelaide.

The centre offers practical advice and strategies for students to master reading, writing, note-taking, time management, oral presentation skills, referencing techniques and exam preparation for success at university through seminars, workshops and individual consultations.

For more information please check out the Writing Centre website at http://www.adelaide.edu.au/writingcentre/

Lex Salus Program

Lex Salus was founded in 2013 by Adelaide Law School Wellbeing officers Ms Corinne Walding, Ms Kellie Toole and Dr Mark Giancaspro. Lex Salus is an initiative of the Adelaide Law School aimed at raising law student awareness of the importance of mental, physical and nutritional health across all year levels of the degree, and of the various counselling, disability and equity services both within and outside the University that can provide help. Research shows that law students, both in Australia and in many jurisdictions around the world, experience the highest levels of stress, anxiety and depression out of any other discipline. Many do not get enough sleep, maintain a healthy diet or achieve a realistic work/life balance. Making matters worse, they are unwilling or afraid to speak up for fear of feeling 'weak' or because of the negative stigma that attaches to seeking help. Lex Salus is dedicated to tackling these problems head-on.

Counselling Service

The University Counselling Service provides a free and confidential service to all enrolled students. We encourage you to contact the Counselling service on 8313 5663 to make an appointment to deal with any issues that may be affecting your study and life. More information is available at https://www.adelaide.edu.au/counselling_centre/.
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Plagiarism and other forms of cheating

Plagiarism is a serious act of academic misconduct. All students must be familiar with the Adelaide Law School Enrolment Guide, and should note in particular the sections relating to plagiarism, grievance procedures and academic conduct within the Law School and the University.

Plagiarism is a serious matter and is treated as such by the Law School and the University. Please be aware that “academic dishonesty” (which goes beyond plagiarism) can be a ground for a refusal by the Supreme Court of South Australia to refuse to admit a person to practice as a legal practitioner in South Australia.

Academic honesty is an essential aspect of ethical and honest behaviour, which is central to the practice of the law and an understanding of what it is to be a lawyer.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator