2013 Unit of Study
The session(s) below are for 2013. For Summer School 2013 unit of study availability please visit the Summer School website (main Summer session January/February 2013).
The University of Sydney session calendar shows exact dates for sessions.
|Regulatory Response to Business Failure|
|Lectures||1x 3hr class per week which may include one or more of the following: lectures; seminars; tutorials or workshops|
|Assessment||Engagement & Participation (10%), Class Test (20%), Group case study (30%), Final 2hr exam (40%)|
|Description||Business failure can have catastrophic consequences for a number of different stakeholders - not only for the individuals and business entities directly concerned but also for their customers, suppliers and employees who rely on the business continuing as a going concern. Public revenue authorities are also key stakeholders in these circumstances. Policies in this area are put under considerable stress at times of domestic and international financial crisis and cross-border insolvency issues further complicate the picture. Legal frameworks (such as corporate liquidation, receivership, bankruptcy) established to deal with business failure and personal insolvency are longstanding. However, more recently, the trend has been to encourage business and debt restructuring wherever possible (voluntary administration and personal insolvency agreements), including using long established frameworks in innovative ways (schemes of arrangement). A sophisticated insolvency industry is adopting new approaches to more efficiently bring parties into a reorganisation deal. This unit explores these regulatory frameworks and how they attempt to balance the many competing interests of the different stakeholders in the business failure context.|