USQ Logo
The current and official versions of the course specifications are available on the web at https://www.usq.edu.au/course/specification/current.
Please consult the web for updates that may occur during the year.

LAW3110 Insolvency and Restructuring Law

Semester 2, 2020 Online
Short Description: Insolvency & Restructuring Law
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Law and Justice
Student contribution band : Band 3
ASCED code : 090901 - Business and Commercial Law
Grading basis : Graded
Version produced : 19 September 2020

Staffing

Examiner: Ros Mason

Requisites

Pre-requisite: For students enrolled in one of the following Programs: LLBP or BLAW or DJUR: LAW1201 or LAW1111 or LAW5501 or LAW5111
Pre-req or Co-req: For students enrolled in one of the following Programs: BBCM or BCOM or BBUS: LAW2106 or LAW1500

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.

Rationale

The fact that persons and companies will, in a market economy, become insolvent is inevitable. The past decade has demonstrated the need for advisers and those involved generally in commerce to be aware of the issues which confront insolvents and what alternatives can be pursued. To be able to do this requires an understanding of the law as it applies to both personal and corporate insolvency.

Synopsis

The course will provide a comprehensive coverage of the law of insolvency and restructuring as it affects both individuals and corporations. The course examines the major types of insolvency administration provided for by the law, for both individuals and corporations - bankruptcy, Part X arrangements, receivership, voluntary administrations and liquidations. Some emphasis is placed on the process of bankruptcy and liquidation and a major part of the course is a consideration of the provisions dealing with company rescue.

Objectives

On successful completion of this course, students should be able to:

  1. locate and analyse primary law materials and secondary materials (as relevant) while examining an issue relevant to insolvency and restructuring law;
  2. explain the legal principles relevant to defining insolvency; to procedures for and effects of collective insolvency administrations (both bankruptcy and liquidation, as well as the alternatives such as Part X arrangements and voluntary administrations) and secured creditor administrations (that is, receiverships); to administration of the relevant estates, including recovery of property; and to insolvency administrators;
  3. apply such legal principles to given fact situations in order to determine the likely outcome to issues raised;
  4. demonstrate satisfactory skills in communication.

Topics

Description Weighting(%)
1. The principles of insolvency law 10.00
2. Bankruptcy 16.00
3. Arrangements under part IX and part X 10.00
4. Liquidation 24.00
5. Receivership 10.00
6. Voluntary administration 20.00
7. Deeds of company arrangement 10.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2020&sem=02&subject1=LAW3110)

Please contact us for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)

Murray, M & Harris, J, 'Keay's insolvency: personal and corporate law and practice', Thomson Reuters, Pyrmont, New South Wales (latest edition).
The current edition of 'Australian Bankruptcy Act 1966', CCH Australia Ltd, North Ryde, New South Wales OR Nichols, P, 'Bankruptcy Act 1966', LexisNexis Butterworths, Chatswood, New South Wales.
The current edition of 'Australian Corporations and Securities Legislation', CCH Australia Ltd, North Ryde, New South Wales OR 'Australian Corporations Legislation', LexisNexis Butterworths, Chatswood, New South Wales OR Baxt, R, Harris, J & Finnane, E, 'Corporations Legislation', Thomson Reuters, Pyrmont, New South Wales.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
CCH IntelliConnect: Bankruptcy and Insolvency Law collection, including Australian Bankruptcy Legislation and Australian and Insolvency Management Practice - accessible via USQ Library Databases.
Gronow, M, 'McPherson’s law of company liquidation', Thomson Reuters (Westlaw AU, USQ Library Databases).
Lipton, P & Herzberg, A, 'Understanding company law', Thomson Reuters, Pyrmont, New South Wales (latest edition).
McQuade, P & Gronow, M, 'Australian bankruptcy law and practice', Thomson Reuters (Westlaw AU, USQ Library Databases).
McQuade, P, 'Bankruptcy in Australia: a guidebook', Thomson Reuters (Westlaw AU, USQ Library Databases).
O’Donovan, J, 'Company receivers and administrators', Thomson Reuters (Westlaw AU, USQ Library Databases).

Student workload expectations

Activity Hours
Assessments 20.00
Directed Study 52.00
Private Study 93.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ONLINE TEST 10 10 07 Aug 2020
ASSIGNMENT - PROBLEM SOLVING 40 40 04 Sep 2020 (see note 1)
ONLINE EXAM 50 50 End S2 (see note 2)

Notes
  1. This will be an online exam. Students will be provided further instruction regarding the exam by their course examiner via StudyDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.

Important assessment information

  1. Attendance requirements:
    Online: There are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

    On-campus: It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    Due to COVID-19 the requirements for S2 2020 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.

    Requirements after S2, 2020:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    Due to COVID-19 the requirements for S2 2020 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

    Requirements after S2, 2020:
    To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.

    Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.

    To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure http://policy.usq.edu.au/documents/14749PL (point 4.4.2).

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the assessment items in the course.

  6. Examination information:
    Due to COVID-19 the requirements for S2 2020 are: An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination.

    Requirements after S2, 2020:
    This will be an open examination. Candidates may have access to any printed or written material and a calculator during the examination.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Due to COVID-19 the requirements for S2 2020 are: The details regarding deferred/supplementary examinations will be communicated at a later date.

    Requirements after S2, 2020:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. Turnitin:
    Students may be required to use Turnitin.

  2. Referencing in assignments:
    Students studying this course as part of a Bachelor of Laws or Juris Doctor must use the Australian Guide to Legal Citation (AGLC) style. Students who are not enrolled in either of these programs may use either Harvard (AGPS) or the Australian Guide to Legal Citation (AGLC) in their assignments to format details of the information sources they have cited in their work. For AGLC style guide enquiries, consult the AGLC manual from the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing, or contact the Law librarian. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.

Date printed 19 September 2020