Outline

Overview

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. Refer to the Sydney Law School timetable - https://canvas.sydney.edu.au/courses/4533/pages/postgraduate-lecture-timetable

Unit details and rules

Academic unit	Law
Credit points	6
Prerequisites ?	None
Corequisites ?	None
Prohibitions ?	CLAW6006 or LAWS3403 or LAWS3445 or LAWS5103
Assumed knowledge ?	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

Assessment

The census date for this unit availability is 1 May 2026

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Out-of-class quiz	Early Feedback Task (0%) Quiz	0%	Week 01 Due date: 19 Apr 2026 at 23:59 Closing date: 19 Apr 2026	10 questions	AI allowed
Outcomes assessed:
Written work	Problem Question Assignment 1 (50%) Practical application to facts of a hypothetical problem	50%	Week 05 Due date: 11 May 2026 at 23:59 Closing date: 25 May 2026	4000 words / 3 weeks	AI allowed
Outcomes assessed:
Written work	Problem Question Assignment 2 (50%) Practical application to facts of a hypothetical problem	50%	Week 06 Due date: 22 May 2026 at 23:59 Closing date: 05 Jun 2026	4000 words / 3 weeks	AI allowed
Outcomes assessed:
= early feedback task ?

Assessment summary

Early Feedback Task (0%): This unit includes an Early Feedback Task that is designed to provide students with timely insights into their understanding and engagement with the unit content. The Early Feedback Task in this unit is a 10 question multiple choice quiz. The task will be available on Canvas from 9am, 17 April to 19 April 11.59pm, Sydney Australia time. It will be tailored to reflect key concepts from the first two days of classes. Students will be provided with immediate automated feedback upon completion of the task.

Problem Question Assignment 1 (50%): The assessment consists of a problem question answered in no more than 4000 words in total. The assignment will be released on the canvas site on Monday, 20 April 2026 at 10:00 am (Sydney, Australia time) and is due on Monday 11 May 2026 by 23:59 (Sydney, Australia time). The question will require students to analyse a set of facts and to provide an answer to the question asked by applying relevant statutory provisions and case law. Students are expected to research relevant case law to locate any applicable decisions that may not have been referred to in lectures. Students who use Generative AI must strictly comply with the usage protocol published on Canvas.

The word limit excludes non-discursive footnotes (that is, citations of cases and statutory provisions). No bibliography is required.

Problem Question Assignment 2 (50%): The assessment consists of a further problem question answered in no more than 4000 words in total. The assignment will be released on the canvas site on Friday 1 May 2026 at 10:00 am (Sydney, Australia time) and is due on Friday 22 May 2026 by 23:59 (Sydney, Australia time). The question will require students to analyse a set of facts and to provide an answer to the question asked by applying relevant statutory provisions and case law. Students are expected to research relevant case law to locate any applicable decisions that may not have been referred to in lectures. Students who use Generative AI must strictly comply with the usage protocol published on Canvas.

The word limit excludes non-discursive footnotes (that is, citations of cases and statutory provisions). No bibliography is required.

Word limit penalty: A piece of assessment which exceeds the prescribed word limit will attract a penalty of 10% of the total marks available for the piece of assessment for every 100 words, or part thereof. The total word count for essays and other written assessments will exclude all footnotes and any bibliography (if required), and exclude acknowledgements of assistance from editors, automated writing tools or generative AI (where use is permitted).

Referencing: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer. A link to the library website where this is set out comprehensively is available at Referencing and Citation Styles: AGLC4.

Special consideration: Successful grants of Special Consideration may involve alternative tasks, as appropriate. Special Consideration is not available for the Early Feedback Task.

Assessment requirements to pass a unit of study: A student must make a genuine attempt at all assessment tasks set out in this Unit of Study in order to obtain a Pass mark grade (or above); otherwise an Absent Fail grade will be recorded as the student’s result for this Unit of Study. Please note that as the EFT is an early diagnostic tool, this task is not included in the final grade for the unit.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2021 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	• Completely answers the question. • Contains striking originality of approach or analysis. • Demonstrates exhaustive or innovative research (where independent research required). • Exceptionally well written, structured and expressed. • Is otherwise exceptional in some way.
Distinction	75 - 84	• Completely answers the question. • Achieves a critical and evaluative approach to the issues. • Content and structure is well organised in support of the argument. • Demonstrates extensive research and analysis to support a well-documented argument. • Generally well expressed and free from errors. • Has a clear structure and is well articulated.
Credit	65 - 74	• Covers main issues fairly well in answering the question. • Contains no significant errors • Demonstrates an attempted critical approach to the issues. • Demonstrates reasonably sound research and analysis in addressing the key issues. • Has a clear structure and reasonably clear expression.
Pass	50 - 64	• Identifies the key issues, but does not follow through with a reasoned argument. • Contains some significant errors. • Displays satisfactory engagement with the key issues. • Offers descriptive summary of material relevant to the question. • Superficial use of material, and may display a tendency to paraphrase. • Demonstrates little evidence of in-depth research or analysis. • Adequate expression. • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.
Fail	0 - 49	• Does not answer the question. • Contains significant or numerous errors. • Few or no identifiable arguments. • Content that is inappropriate or irrelevant. • Lack of research or analysis. • Difficult or impossible to understand through poor grammar, expression or structure. • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Use of generative artificial intelligence (AI)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

The late submission of a piece of assessment, without an approved extension, will attract a penalty of 10% of the total marks available for the piece of assessment per 24 hours or part thereof, after the due time on the due date. Penalties for late submission will be applied strictly.

Academic integrity

The University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	1. History of Insolvency Law; Objectives of Corporate Insolvency Law; Identifying Insolvency. 2. Corporate Insolvency Process and Procedure: Role and powers of liquidators; Commencement, Administration and Termination; Statutory Demands. 3. Corporate Insolvency Process and Procedure (continued): Proofs of debt; Priorities; Set-Off; Disclaimer	Seminar (6.5 hr)
Week 01	4. Insolvent trading; 5. Avoidance of corporate antecedent transactions (part 1); 6. Avoidance of corporate antecedent transactions (part 2)	Seminar (6.5 hr)
Week 03	7. Voluntary administration; 8. Receivership; 9. Impact of the Personal Property Securities Act 2009 (Cth)	Seminar (6.5 hr)
Week 03	10. Schemes of arrangement; 11. Work outs; 12. Cross border insolvency	Seminar (6.5 hr)

Attendance and class requirements

Attendance: All students are required to attend 70% of classes to satisfy the pass requirements for this unit. Failure to meet this requirement will result in an Absent Fail grade being recorded as the student’s result for this unit (see The University of Sydney Law School Resolutions: Coursework Awards cl 11).

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Michael Murray and Jason Harris, Keay’s Insolvency: Personal and Corporate Law and Practice (Law Book Co. 11th ed 2022).
Cross Border Insolvency Act 2008 (Cth)
Corporations Act 2001 (Cth)
Personal Property Securities Act 2009 (Cth)

The Learning Guide document will be available on Canvas which contains the reading list.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. Critically analyse the key provisions of the Corporations Act 2001 (Cth) relating to insolvency.
LO2. Synthesise and apply principles of insolvency law in diverse commercial contexts to formulate effective legal strategies in response to complex legal scenarios
LO3. Critically examine and describe to an advanced level the commercial and legal challenges that arise during times of financial stress.
LO4. Evaluate the competing interests and claims of various parties in insolvency scenarios

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

The assessment has been updated in line with the new assessment framework.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links

LAWS6159: Insolvency Law

Semester 1b, 2026 [Block mode] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links