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International Corporate Insolvency (LAWS70343)
Graduate coursework level 7Points: 12.5Not available in 2019
Overview
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As a result of the recent Global Financial Crisis (GFC) around the world, numerous companies have been confronted with financial difficulties. Sometimes those difficulties resulted in a bankruptcy or comparable insolvency proceedings. Due to globalisation, such insolvency could have cross-border effects, such as the insolvency of Lehman Brothers in 2008. International Corporate Insolvency raises issues on substantive insolvency law as well as on conflict of laws, and explores those effects from various perspectives, especially on a multilateral level. Its relevance can be found in the attempts to facilitate restructuring of financially distressed companies worldwide. Professor Vriesendorp, from Tilburg University, The Netherlands, has previously taught the subject and is a well-known scholar with practical experience in the field of (international) insolvency law as restructuring partner at Dutch law firm De Brauw Blackstone Westbroek, Netherlands.
Principal topics include:
- Introduction/recapitulation: what is insolvency/insolvency law?
- Causes of insolvency: external, fraud and mismanagement
- Creditor-oriented system (United Kingdom, Netherlands, Australia) versus debtor-oriented system (United States, France)
- Proceedings from an international perspective: European insolvency regulation/UNCITRAL Model Law on Cross-Border Insolvency and relevant forums
- Role and position of trustee/administrator versus debtor-in-possession
- Role and position of creditors
- Role and position of the court
- Position of the bank, security interests and financing restructuring
- Transfer of assets to Newco/composition and rescheduling of debt
- Fraudulent/wrongful trading and director‘s liability
- Termination of the proceedings.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have acquired an advanced and integrated understanding and specialised knowledge of insolvency law in an international context and should be able to apply such knowledge in practice
- Have become familiar with the structure and principles of UNCITRAL Model Law on Cross-Border Insolvency and EU Insolvency Regulation 2000/1346
- Have obtained basic knowledge of principles of private international law in the context of international corporate insolvency
- Have received an insight in insolvency law from a civil law perspective with respect to various specialised topics such as director’s liability, insolvency fraud and secured creditors
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal issues relating to such specific aspects of international insolvency law
- Be able to critically examine, analyse, interpret and assess the legal effects of the rules of international insolvency law
- Have the cognitive and technical skills to generate critical and creative ideas relating to the development of international insolvency law and to put this effectively into an academic paper in which autonomy and expert judgment is demonstrated.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Additional details
10,000 word research paper (100%) on a topic approved by the subject coordinator
A minimum of 75% attendance is a hurdle requirement.
Last updated: 3 November 2022
Dates & times
Not available in 2019
Time commitment details
The pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences.
Additional delivery details
This subject has a quota of 30 students. Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Details regarding any prescribed texts will be provided prior to the commencement of the subject.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Commercial Law Course Master of Laws Course Graduate Diploma in Banking and Finance Law Course Graduate Diploma in Legal Studies Course Master of Banking and Finance Law - Links to additional information
law.unimelb.edu.au
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022