General Information
Insolvency Law and Practice is an elective subject in undergraduate programs offered by the Faculty of Law. This subject is designed to provide an overview of the various forms of insolvency their effect and roles in both personal and corporate environments. It provides an introduction into the protection and regulation of insolvent individuals and corporations, and aims to discuss insolvency within the social context and the impact of insolvency law. Students examine the legal procedure involved in insolvency law (such as bankruptcy petitions, lodging proofs of debt and distribution of insolvent estates) as well as the impact of insolvency upon stakeholders such as employees, unsecured creditors, and individual and corporate debtors. Both individual and corporate insolvency are examined. All aspects of personal and corporate insolvency will be discussed but the subject places particular emphasis on discussing powers of insolvency administrators, voluntary administration, liquidation and the rights of creditors.
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Details
Academic unit: Faculty of Law Subject code: LAWS13-117 Subject title: Insolvency Law and Practice Subject level: Undergraduate Semester/Year: May 2020 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Standard Workload items: - Seminar: x12 (Total hours: 36) - Seminar 1
- Personal Study Hours: x12 (Total hours: 84) - Recommended Study Hours
Attendance and learning activities: Class participation mark will be determined, in part, by attendance. -
Resources
Prescribed resources: Books
- Murray and Harris Keay's Insolvency - Personal and Corporate Law and Practice. 9th, Thomson Reuters/Lawbook
- Courtney Wright (2015). Quick Reference Card - Insolvency Law. n/a, Lexis Nexis
iLearn@Bond & Email: iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
| Academic unit: | Faculty of Law |
|---|---|
| Subject code: | LAWS13-117 |
| Subject title: | Insolvency Law and Practice |
| Subject level: | Undergraduate |
| Semester/Year: | May 2020 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Standard |
| Workload items: |
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| Attendance and learning activities: | Class participation mark will be determined, in part, by attendance. |
| Prescribed resources: | Books
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|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge. Assumed Prior Learning (or equivalent):
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| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Basic knowledge of Australian corporate and personal insolvency law.
- Knowledge of the various types of corporate insolvency options available to companies within the Australian legal framework.
- Knowledge of the various types of personal insolvency options available within the Australian legal framework.
- Knowledge of the legal requirements for practitioners within the corporate and personal insolvency jurisdictions.
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Essay Essay 30.00% Week 11 1,2,3,4 *Online Quiz Online Quiz 20.00% Weekly 1,2,3,4 *Class Participation Class participation 20.00% Ongoing 1,2,3,4 Take-home Examination Take-home exam 30.00% Non-Standard Examination Period 1,2,3,4 - * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Essay | Essay | 30.00% | Week 11 | 1,2,3,4 |
| *Online Quiz | Online Quiz | 20.00% | Weekly | 1,2,3,4 |
| *Class Participation | Class participation | 20.00% | Ongoing | 1,2,3,4 |
| Take-home Examination | Take-home exam | 30.00% | Non-Standard Examination Period | 1,2,3,4 |
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Bond University utilises Originality Reporting software to inform academic integrity.Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
Subject curriculum
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Module 1: Insolvency
Definitions - Personal and Corporate - Directors Duties.
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Module 2: Voluntary Administration
The concept of External Administration - Process - Effect - Likely consequences.
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Module 3: Receivership
What is Receivership? - Circumstances in which it will occur - Consequences - Roles of Receiver, Company officers - Rights and responsibilities of creditors pre, during and post receivership.
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Module 4: Liquidation
An overview of the process - Historical development - Examination (general) of cause and effect.
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Module 5: Liquidators Powers; Duties and Responsibilities
Practicalities - Creditor funding - PPSA - Secured Creditors rights and entitlements.
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Module 6: The Process of Liquidation
Stages - Effects (external and internal) - Debt recovery.
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Module 7: Issues in Liquidation
Voidable Transactions - Voidable Preferences - Liability of Corporate Officers - Potential liability of Liquidators.
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Module 8: Termination of External Management/Introduction to Bankruptcy
Considerations in the finalisation of corporate insolvency administration and an Introduction to Personal Insolvency.
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Module 9: Part IX and Part X Arrangements and Compositions
An examination of alternatives to bankruptcy.
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Module 10: Bankruptcy
An examination of asset availability - Superannuation, etc. and courses of action available to Trustees in Bankruptcy.
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Module 11: Personal Perspectives on Insolvency Practice
A professional roundtable involving a representative of the involved entities (Lawyer, Liquidator/Trustee and Financial Advisor)
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Module 12: Revision
Practical exercises; Advice writing techniques.