Units

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Sample subject outline - 6 Week Teaching Period - 3 2012

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

Rationale

Comparative and Cross-Border Insolvency will allow students to survey at an advanced level the sources, components and policies underlying the law of international insolvency. The course will proceed in two stages. In the first stage, the class will examine the types of bankruptcy systems in place in the developed and developing world. Through study of priorities granted and reorganization provisions adopted, the course will attempt to give the student an overview of the complexity and problems facing the reorganization of large companies across borders.

In the second stage, the course will focus on the UNCITRAL Model Law on Cross-Border Insolvency and its implementation in statutory provisions in Australia, the United States, and certain other countries. In addition, the course will examine the European Union Regulation on International Insolvency Law and its application in cases arising in the European Union. This will provide a basis for comparative studies of the efficacy of various models of cooperation and provide a platform for studying the role of lawyers and creative solutions in the preservation and distribution of value.

Given the current economic climate and the resulting insolvency cases for numerous corporations and corporate groups with operations in numerous countries (e.g., Lehman Bros., Nortel, General Motors, among others), there is an increasing demand for expertise in the law of international insolvency to be studied at postgraduate level by members of the legal profession in both private and public sector legal practice.

The focus will be primarily on commercial and corporate insolvencies. Little, if any, time will be spent on consumer and individual insolvencies.

Aims

The aim of this unit is to enable insolvency specialists to understand the essential features of the world's major insolvency systems, as well as the basic workings of the UNICTRAL Model Law as it has been adopted in Australia and in the United States, and the essential features of the European Insolvency Regulation.

Objectives

At the completion of this unit you should be able to:
1. understand the sources, the structures, and the interrelationships of the world's major insolvency systems;
2. understand the sources and the interrelationships of various components of cross-border insolvency law in Australia and in the United States, as well as in other major countries;
3. be able to explain the differences between the Model Law and the European Union Regulation;
4. demonstrate a higher level of knowledge of cross-border insolvency law; and
5. be able to conduct original research at an advanced level and to write a research paper at an advanced level on a topic concerning cross-border insolvency law.

Content

The content of this unit includes:
1. Various insolvency systems in place in the world, and their various emphasis on priorities of secured creditors, workers, and taxing agencies.
2. The content, limitations and opportunities presented by both civil law and common law insolvency regimes
3. Concepts which form the basis of international cooperation, including UNCITRAL's Model Law (applicable in both Australia and the US) and European Insolvency Regulation
4. Recognition of foreign proceedings
5. Cooperation and communication
6. Protocols
7. Joint hearings
8. Collecting assets abroad in domestic cases
9. Procedural issues

Approaches to Teaching and Learning

The course will be taught in an intensive mode using a combination of lectures, class discussions and seminar presentations. Significant emphasis will be placed on student preparation and active participation in class discussions and seminars. Students will be expected to have completed all readings before each seminar.

As this course is being taught in intensive mode, attendance at all seminars is compulsory.

Assessment

This assessment regime is consistent with the Law School objectives for postgraduate study.

The assessment in this unit is both formative and summative.Formative assessment will be ongoing throughout the course.

The discussions in the seminars will provide you with the formative feedback you need to guide and focus your preparation for the research paper. You will also be given feedback on your choice of topic by the unit coordinator at the same time as approval is given for your topic. Face-to-face seminars will provide an opportunity through group discussions and questioning to deepen your understanding of key principles and to assess comparative and cross-border insolvency law principles critically in a diverse social arena. This social debate format allows for personal reflection and peer support to develop strengthen skills in expression of ideas and integrates independent and collaborative workplace skills.

Assessment name: Discussion Forum
Description: This summative assessment will be based upon the following criteria:

-Extent of active participation in class discussion;
-Extent to which pre-class preparation is revealed through this participation;
-Your ability to articulate complex ideas clearly and simply;
-Your ability to listen to the discussion and respond to questions asked in an appropriate way
Relates to objectives: The assessment is linked to learning outcomes 1- 4
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: During class

Assessment name: Research Methodology
Description: You will be required to submit a short written (not in excess of 2 pages) outline of your research paper topic and a research methodology by the end of 2 weeks after the completion of classes. Written feedback will be given to you on the topic and methodology, including suggestions for improvement.
Relates to objectives: The assessment is linked to learning outcomes 1- 5
Weight: 10%
Internal or external: Internal
Group or individual: Individual
Due date: 2 wks after class

Assessment name: Research Paper
Description: You will be required to submit a typed 6000-7000 word (maximum) research paper based upon the research methodology approved by the instructor/s and taking into account the feedback provided to you in relation to the methodology. The paper should be submitted no later than 8 weeks after the completion of classes.
Relates to objectives: The assessment is linked to learning outcomes 1 - 5
Weight: 70%
Internal or external: Internal
Group or individual: Individual
Due date: 8 wks after class

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

Recommended Texts

Bob Wessels, Bruce A. Markell & Jason Kilborn, International Cooperation in Bankruptcy and Insolvency Matters (Oxford 2009).

World Bank, Principles and Guidelines for Effective Insolvency and Creditor Rights Systems (Rev. 2005).

International Monetary Fund, Orderly and Effective Liquidation Procedures (1999)

United Nations Commission on International Trade Law (UNCITRAL), Legislative Guide on Insolvency Law (2005).

United Nations Commission on International Trade Law (UNCITRAL), Practice Guide on Cross-Border Insolvency Cooperation (2010).

United States bankruptcy law (any publication including the 2005 amendments)

Written court opinions and other materials to be provided.

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: 17-Nov-2011