Regulatory Response to Business Failure
CLAW6006
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.
Unit of study details
Unit of study level: Postgraduate
Credit points: 6
Commencing semesters: 2
Further unit of study information
Unit of study handbook: CLAW6006
Costs and scholarships information: Costs and Scholarships
Final dates to withdraw from units of study: Census Dates
Available for study abroad and exchange: No