The course deals with personal insolvency (bankruptcy) and corporate insolvency (covering both liquidation and non-liquidation arrangements). Insolvency law aims to recover funds for creditors, protect the insolvent during the course of administration and enquire into the circumstances of the insolvency.
The objective of the course is for students to be able to apply insolvency law to problems similar to those in legal practice, and to be able to give clear and accurate written advice upon insolvency matters. This involves four aspects:
The personal insolvency lectures include the following topics:
- Identification of issues
- Knowledge of the relevant law
- Application of the law to the facts
- Organisation and expression
The corporate insolvency component of this course deals with both liquidation and non-liquidation arrangements that have been brought about in consequence of company insolvency. In relation to corporate insolvency resulting in non-liquidation arrangements being entered into, emphasis will be placed on the following:
- acts of bankruptcy;
- bankruptcy notices;
- the effects of bankruptcy;
- the doctrine of relation back;
- exempt transactions;
- transactions void against the trustee;
- termination of bankruptcy;
- voluntary personal insolvency ;
- cross-border insolvency;
- insolvency and family law.
In relation to liquidation arrangements, particular emphasis will be placed upon:
- schemes of arrangement;
- voluntary administration;
- deeds of company arrangement.
- the distinction between voluntary and compulsory winding up;
- the grounds upon which a company can be wound up;
- procedure to obtain a winding up order including the use of statutory demands;
- provisional liquidation;
- the effects of winding up;
- liquidator’s powers and duties and the administration of the winding up;
- assets available to the liquidator;
- voidable transactions;
- insolvent trading actions.