Unit information: Credit, Security and Insolvency in 2015/16

Unit name	Credit, Security and Insolvency
Unit code	LAWDM0011
Credit points	30
Level of study	M/7
Teaching block(s)	Teaching Block 4 (weeks 1-24)
Unit director	Professor. Furey
Open unit status	Not open
Pre-requisites	None
Co-requisites	None
School/department	University of Bristol Law School
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

This unit examines the role of the law in allocating loss following from individual or corporate financial failure, considering such issues as the justification for a mandatory bar on the enforcement of individual creditors claims in favour of a collective realization and distribution policy. This course examines the justification for such an approach, the rules of distribution and the extent to which creditors can improve their share, for example, by taking security over the debtor&)s assets, the use of trusts or reservation of title. The course covers both bankruptcy (of individual debtors) and liquidation (of corporate debtors). It also looks at the procedures designed to aid the rescue and rehabilitation of insolvent businesses via administrative receivership, administration and voluntary arrangements. Some background knowledge of the Common Law in contract, trusts and property is essential.

Intended Learning Outcomes

When debtors are unable to pay their debts in full, insolvency procedures impose a mandatory bar on the enforcement of individual creditor’s claims in favour of a collective realization and distribution policy. This unit examines the justification for such an approach, the rules of distribution and the extent to which creditors can improve their share, for example, by taking security over the debtor's assets, the use of trusts or reservation of title etc. The unit covers both bankruptcy (of individual debtors) and liquidation (of corporate debtors). It also looks at the procedures designed to aid the rescue and rehabilitation of insolvent businesses via administrative receivership, administration and voluntary arrangements.

Teaching Information

10 two hour seminars

Assessment Information

A seven hour open book examination.

The assessment will assess all the Intended Learning Outcomes for this unit.

Reading and References

• Goode ‘Principles of Corporate Insolvency’ (2011)

• Jackson ‘The Logic & Limits of Bankruptcy Law’