Units

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Sample subject outline - Semester 1 2012

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

This course presents a broad coverage of the legal issues associated with insolvency for both individuals and corporations. An introduction to the area of personal insolvency law is provided. It covers both bankruptcy and the alternatives available. It also deals with corporate insolvency law building upon the concepts learnt in LWB334 Corporate Law. There is also reference to cross border issues in insolvency.

An understanding of the principles of insolvency law will assist legal practitioners to gain a more complete grasp of the legal system particularly in a commercial context. Knowledge of the law as it applies to both personal and corporate insolvency provides opportunity to develop better skills in a range of legal areas as well as providing a base for those interested in working in this specialized field.

Aims

The aims of this unit are to develop:

• your understanding of the law relating to personal and corporate insolvency;


• your ability to contextualise and critique insolvency law and its application; and


• your appreciation of the extent to which an overview of insolvency law is essential to an understanding of our social and economic environment.

Objectives

At the completion of this unit you should be able to:

(1) extract, comprehend and evaluate principles from primary and secondary legal sources (ie cases and statutes, textbooks, articles and other writings about the law) in the context of insolvency law issues;

(2) analyse and apply the legal principles extracted to specific factual situations involving personal and corporate insolvency;

(3) communicate (orally and in writing) principles of corporate and personal insolvency law and how the law may facilitate better outcomes for insolvency situations;

(4) critically analyse one or more aspects of the interface between insolvency law and other issues in contemporary Australia, and identify potential areas appropriate for law reform;

(5) organise, synthesise, critically analyse and evaluate a research topic having regard to contextual (eg. social, economic, ethical, and policy) issues and policy factors surrounding insolvency law and then communicate the outcomes appropriately.

Content

• The Principles of Insolvency Law;


• Initiating bankruptcy, its effects and termination;


• Parts IX & X Arrangements under the Bankruptcy Act;


• Types of Liquidation, the winding up process and the effects of winding up;


• Receivership;


• Voluntary Administration;


• Deeds of Company Arrangement;


• Cross Border Insolvency Issues (briefly)

Approaches to Teaching and Learning

You will be required to attend two hours of formal instruction each week for thirteen weeks of semester. Sessions will be in the form of lectorials which will be taped for the benefit of external students. The lectorials will generally involve presentation of an overview of the relevant area of law in the course of interactive discussion between the lecturer and students on case studies, specific problem questions and issues.

Participation in the lectorial program provides you with an opportunity to develop your skills of comprehension and analysis of primary sources and appreciation of the use of the law in situations where a person or a corporation is insolvent. Further, internal students will have the opportunity to develop skills of oral communication, problem solving, critical analysis and ethical/contextual awareness within a group setting. This unit is also supported by a Blackboard site.

Assessment

In this unit there is both formative assessment (to receive feedback on your learning) and summative assessment (to receive feedback and a mark).Students attending classes will be provided with feedback on an informal formative basis in each class. Written feedback will be given to students on each item of summative assessment except the final examination. Students may discuss their performance in the final examination with the unit coordinator.

Assessment name: Problem Solving Task
Description: You will be required to submit a written response to two problem solving tasks set out in the Study Guide (1,000 words each). Responses to Problem solving task No.1 will be due in week 4. Responses to the Problem Solving Task No.2 will be due in week 10.

Weight: 20% (2 PST x 10% each)
Relates to objectives: 1-4
Weight: 20%
Internal or external: External
Group or individual: Individual
Due date: See Description

Assessment name: Prob Solving Task & viva voce
Description: You will be required to submit a written response to two of the weekly problem solving tasks set out in the Study Guide (1,000 words each) and lead the lectorial discussions in respect of the problems you have been allocated. Allocation of the weekly problem solving tasks to individual students will take place just prior to or during week 1.

Weight: 20% (2 PSTs x 10%)

Due Date: Due each week as allocated
Relates to objectives: 1-4
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: See Description

Assessment name: Research Paper
Description: The assignment will take the form of a research topic provided by the lecturer and will be a maximum of 2000 words. Details of the topics for the research paper will be provided to students by week 2 of semester. There will be at least one topic on personal insolvency law, and one topic on corporate insolvency law.
Relates to objectives: 1- 5
Weight: 25%
Internal or external: Both
Group or individual: Individual
Due date: Week 9

Assessment name: Examination
Description: The examination will be open book and will assess your understanding of unit content in the context of problem questions.
Relates to objectives: 1-3
Weight: 55%
Internal or external: Both
Group or individual: Individual
Due date: Central Exam Period

Academic Honesty

Academic honesty means that you are expected to exhibit honesty and act responsibly when undertaking assessment. Any action or practice on your part which would defeat the purposes of assessment is regarded as academic dishonesty. The penalties for academic dishonesty are provided in the Student Rules. For more information you should consult the QUT Library resources for avoiding plagiarism.

Resource materials

Prescribed Texts:
Murray, M. And Harris J., Keay's Insolvency : Personal and Corporate Law and Practice, 7th Ed (2011). Thomson Reuters.

Legislation:
Australian Bankruptcy legislation from any publisher and the most recent edition. For example:
Australian Bankruptcy Act 1966: with regulations and rules, CCH Australia, or
Nichols PW Bankruptcy Act 1966, LexisNexis Butterworths,
Australian Corporations legislation from any publisher and the most recent edition. For example:

Australian Corporations and Securities Legislation, CCH Australia or
Corporations Legislation, Thomson Reuters; or
Australian Corporations Legislation. LexisNexis Butterworths.

Recommended Reference Materials:
Anderson, Colin and Morrison David, Crutchfield's Voluntary Administration, (Loose leaf), Thomson Lawbook Sydney, Go to ¿Legal Online¿ from the Library database page for online access to this title.
Austin RP and Ramsay IM, Ford's Principles of Corporations Law LexisNexis Butterworths.
Australian Corporation Law Principles and Practice Butterworths, Sydney, (looseleaf). Go to ¿LexisNexis AU¿ from the Library database page for online access to this title.

Australian Corporations & Securities Law Reporter CCH Australia, Sydney (looseleaf). Go to ¿CCH Online¿ from the Library database page for online access to this title.
Gronow MGR and Mason R, McPherson's Law of Company Liquidation, Thomson Reuters Sydney, 2006 (looseleaf). Go to ¿Legal Online¿ from the Library database page for online access to this title.
Lipton P and Herzberg A, Understanding Company Law Thomson Reuters
McQuade PP, Gronow MGR, McDonald Henry & Meek Australian Bankruptcy Law and Practice, Thomson Reuters, Sydney, (looseleaf). Go to ¿Legal Online¿ from the Library database page for online access to this title.
Murray, Michael, Australian Insolvency Management Practice, CCH Australia, Sydney (looseleaf);. Go to ¿CCH Online¿ from the Library database page for online access to this title.
Symes, Christopher and Duns, John, Australian Insolvency Law LexisNexis Butterworths, Sydney.

Students may also be prepared to read journal articles in relevant journals such as:- Australian Journal of Corporate Law. Go to ¿Lexis Nexis AU¿ from the Library database page for online access to this title. Insolvency Law Journal and Company and Securities Law Journal. Go to ¿Legal Online¿ from the Library database menu for online access to this title.

Risk assessment statement

There are no out of the ordinary risks associated with this unit.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 13-Dec-2011