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Unit of study_

LAWS6939: International Insolvency Law

Semester 1b, 2024 [Block mode] - Camperdown/Darlington, Sydney

This unit examines some of the central rules, policies, and principles of corporate bankruptcy and insolvency law, as well as the economic and social objectives attributed to the bankruptcy and insolvency system. The unit will be taught from a comparative perspective, drawing upon the laws of Australia, New Zealand, Canada, the United States, and the United Kingdom. A comparative perspective will enable students to examine and critically evaluate the varied legal solutions to common insolvency law issues. This approach will allow students to acquire advanced and specialized knowledge in recent developments in insolvency law. The unit will draw upon the 2023 report, Corporate Insolvency in Australia, to inform discussion about the policy objectives of insolvency law and reform proposals. Topics covered include the history of insolvency law, insolvency law theory, involuntary liquidations, voidable preferences, and director liability. The timetable is available at Further information about this unit is available in the Sydney Law School timetable https://canvas.sydney.edu.au/courses/4533/pages/postgraduate-lecture-timetable.

Unit details and rules

Unit code LAWS6939
Academic unit Law
Credit points 6
Prohibitions
? 
None
Prerequisites
? 
None
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

No

Teaching staff

Coordinator Jason Harris, jason.harris@sydney.edu.au
Lecturer(s) Thomas Telfer, thomas.telfer@sydney.edu.au
Type Description Weight Due Length
Participation Structured class participation (20%)
Students will be allocated sessions in which they will be on-call
20% Ongoing n/a
Outcomes assessed: LO1 LO3 LO2
Short release assignment Essay outline and annotated bibliography (short release) (10%)
Essay outline with a summary of 10 sources and how they were located
10% Week 01
Due date: 12 Apr 2024 at 18:00

Closing date: 19 Apr 2024
Maximum 1,500 words / 5 working days
Outcomes assessed: LO4 LO3 LO2 LO1
Assignment Research essay (long release) (70%)
Students will complete an essay on a topic approved by the lecturer
70% Week 03
Due date: 26 Apr 2024 at 18:00

Closing date: 03 May 2024
4,500 words / 3 weeks
Outcomes assessed: LO1 LO2 LO3 LO4

Assessment summary

Structured class participation (20%):

In this assessment, students will be allocated a specific class to be on call for their participation marks. Students who are on call will be expected to ask and answer questions during that on-call session that demonstrate a sound understanding of the prescribed readings. Students who are on call will be expected to build on points made by the lecturer and other students during class discussions.

This assessment will satisfy Learning Outcome (LO1) by requiring students to accurately apply the key provisions of relevant insolvency statutes from relevant jurisdictions considered in the unit to common commercial situations concerning insolvency that are discussed during their on-call class. This assessment will satisfy Learning Outcome (LO2) by requiring students to demonstrate an advanced and integrated understanding of the central rules, policies and principles of insolvency law from a comparative perspective during their on-call class contributions. This assessment will satisfy Learning Outcome (LO3) by requiring students to demonstrate the cognitive and technical skills for critical evaluation in comparing the various jurisdictional solutions to common insolvency law problems discussed during their on-call class.

Essay outline and annotated bibliography (short release) (10%):

Students will prepare an outline of their research essay (as approved by the lecturer) and is due 12 April 6pm (Sydney Australia time). The outline should specificy the headings and sub-headings to be used in their essay and provide a brief outline of the material arguments and points that will be discussed under each heading. An annotated bibliography will follow the essay outline, which must list 10 different scholarly sources (books, book chapters, articles in peer-reviewed scholarly journals and/or relevant cases from the jurisdictions compared in the unit). Each of the sources should be summarised in a way that demonstrates how they will add to the argument in the essay. Students must also explain how they found the sources (searching the Library catalogue is highly recommended, in which case list what search terms were used in your searches). Maximum word limit is 1,500 words.

This assessment will satisfy Learning Outcome (LO1) by requiring students to accurately apply the key provisions of relevant insolvency statutes from relevant jurisdictions considered in the unit to common commercial situations concerning insolvency that are relevant for their selected essay topic. This assessment will satisfy Learning Outcome (LO2) by requiring students to demonstrate an advanced and integrated understanding of the central rules, policies and principles of insolvency law from a comparative perspective as appropriate for their essay topic. This assessment will satisfy Learning Outcome (LO3) by requiring students to demonstrate the cognitive and technical skills for critical evaluation in comparing the various jurisdictional solutions to common insolvency law problems arising from their chosen essay topic. This assessment will satisfy Learning Outcome (LO4) by requiring students to accurately apply their knowledge and skills with autonomy to execute a substantial research-based project in the insolvency law field.

Research essay (long release) (70%):

Students will complete a research essay on a topic approved by the Lecturer. A list of sample topics will be provided by 12 noon on Day 1 and the essay is due for submission on 26 April 6pm (Sydney Australia time). A maximum word limit of 4,500 words applies (footnote references and headings do not count). Students may select their own essay topic with approval from the lecturer. 

This assessment will satisfy Learning Outcome (LO1) by requiring students to accurately apply the key provisions of relevant insolvency statutes from relevant jurisdictions considered in the unit to common commercial situations concerning insolvency that are relevant for their selected essay topic. This assessment will satisfy Learning Outcome (LO2) by requiring students to demonstrate an advanced and integrated understanding of the central rules, policies and principles of insolvency law from a comparative perspective as appropriate for their essay topic. This assessment will satisfy Learning Outcome (LO3) by requiring students to demonstrate the cognitive and technical skills for critical evaluation in comparing the various jurisdictional solutions to common insolvency law problems arising from their chosen essay topic. This assessment will satisfy Learning Outcome (LO4) by requiring students to accurately apply their knowledge and skills with autonomy to execute a substantial research-based project in the insolvency law field.

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 essay and other written assessments will exclude all footnotes, and any bibliography (if required). 

Use of editors or proof-readers: The use of assistance in preparing and editing assessment tasks in this unit of study is strictly prohibited. Assistance includes human and automated writing tools (not including spell checking). The use of Studiosity does not breach this rule but must be acknowledged.

Special consideration: Successful grants of Special Consideration may involve alternative tasks, as appropriate.

Assessment requirement 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 and grade (or above); otherwise an Absent Fail grade will be recorded as the student’s result for this Unit of Study. 

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.
  • Demonstrates the minimum level of competence and satisfies the requirements to proceed to higher-level studies.

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 sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

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 calendar day or part thereof. For example, a submission after 6pm but by 11:59pm on the due date for submission will attract a 10% penalty. A submission after midnight of the due date for submission will attract a 20% penalty. A submission on the following day after midnight will attract a 30% penalty, and so on. Penalties for late submission will be applied strictly.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

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 2023 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 2023. 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

WK Topic Learning activity Learning outcomes
Week -01 Day 1: Overview of bankruptcy and insolvency regimes and identifying the relevant comparative jurisdictions; Introduction to modern bankruptcy and insolvency objectives; History of bankruptcy law Seminar (6.5 hr) LO1 LO2 LO3 LO4
Day 2: Modern insolvency law objectives and theory (consider competing theories of modern insolvency objectives, contrasting broader distributional and public interest theories with a pro creditor approach); Initiating liquidation proceedings against a corporation (assess how various jurisdictions enable creditors to initiate an involuntary corporate bankruptcy/liquidation) Seminar (6.5 hr) LO1 LO2 LO3 LO4
Week 01 Day 3: Voidable Preferences - evaluate various statutory models that have emerged to cope with the problem of debtor corporations making preferential payments to favoured creditors prior to bankruptcy; Canada, U.S., Australia and New Zealand preference regimes Seminar (6.5 hr) LO1 LO2 LO3 LO4
Day 4: Director liability (an assessment of the risk of personal liability of directors in the context of corporate insolvency); Do directors owe a duty to creditors when the company is in the vicinity of insolvency?; BTI 2014 LLC v Sequana SA (UKSC): comparative assessment of insolvent trading regimes in Australia, New Zealand & U.K.; Yan v Mainzeal (NZSC):comparison to Canadian oppression remedy Seminar (6.5 hr) LO1 LO2 LO3 LO4

Attendance and class requirements

Attendance: All students are required to attend at least 70% of classes to satisfy the pass requirements for each unit of study. Failure to meet this requirement may result in a student being precluded from submitting the final assessment. 

For units offered in Intensive mode, participation in all scheduled sessions may be expected by a Unit Coordinator in order to satisfy the requirements of the unit. 

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, and a link to the library website where this is set out comprehensively is available at Referencing and Citation Styles: AGLC4

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

Will be available via the Reading Guide which will be posted on Canvas.

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.

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

  • LO1. accurately apply the key provisions of relevant insolvency statutes from relevant jurisdictions considered in the unit to common commercial situations concerning insolvency
  • LO2. demonstrate an advanced and integrated understanding of the central rules, policies and principles of insolvency law from a comparative perspective
  • LO3. have the cognitive and technical skills to be able to critically evaluate and compare various jurisdictional solutions to common insolvency law problems
  • LO4. accurately apply their knowledge and skills with autonomy to execute a substantial research-based project in the insolvency law field

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
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

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

This is the first time this unit has been offered

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.