The unit provides an introduction to the mainly statutory law regulating bankrupt individuals and insolvent companies. It explores the objectives and key principles of insolvency law, the pari passu principle, the various forms of insolvent administration including bankruptcy, liquidation, receivership and voluntary administration and associated procedures together with the avoidance of transactions in insolvency. The unit also considers the impact of insolvency on employees, unsecured creditors, shareholders and trustee's of trusts. The unit involves a significant component of statutory interpretation.
2x2-hr seminars/week for 10 weeks
3000wd answer to a problem question (30%) and 2hr exam (70%)
Michael Murray and Jason Harris, Keay's Insolvency: Personal and Corporate Law and Practice (Law Book Co. 10th ed 2018). Students will also need to have access to an up to date copy of the Bankruptcy Act 1966 (Cth) and of the Corporations Act 2001 (Cth).
LAWS2003 or LAWS2014Prohibitions
LAWS3403 or LAWS5145 or LAWS5103