The unit provides an introduction to the mainly statutory law regulating insolvent companies to be found in the Corporations Act, 2001. It explores the objectives and key principles of insolvency law, the pari passu principle, the various forms of insolvent administration including informal workouts, liquidation, receivership, voluntary administration, schemes of arrangement, restructuring and associated procedures together with avoidance of transactions in insolvency. The unit also considers the impact of insolvency on existing contractual and proprietary rights from the perspective of employees, unsecured creditors, shareholders, trustees of trusts and third parties generally. The unit also considers cross border insolvency and the Cross Border Insolvency Act, 2008. The impact of the Personal Property Securities Act, 2009 is also analysed. The unit involves a significant component of statutory interpretation.
Unit details and rules
Academic unit | Law |
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Credit points | 6 |
Prerequisites
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None |
Corequisites
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None |
Prohibitions
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CLAW6006 or LAWS3403 or LAWS3445 or LAWS5103 |
Assumed knowledge
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undergraduate law degree with good background in Australian corporate law |
Available to study abroad and exchange students | No |
Teaching staff
Coordinator | Lindsay Powers, lindsay.powers@sydney.edu.au |
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Lecturer(s) | Lindsay Powers, lindsay.powers@sydney.edu.au |