| Unit name | Insolvency Law |
|---|---|
| Unit code | LAWD30104 |
| Credit points | 20 |
| Level of study | H/6 |
| Teaching block(s) |
Teaching Block 4 (weeks 1-24) |
| Unit director | Professor. Furey |
| Open unit status | Not open |
| Pre-requisites |
LAWD10008 Law of Contract or LAWD10007 Foundations of Business Law |
| Co-requisites |
None |
| School/department | University of Bristol Law School |
| Faculty | Faculty of Social Sciences and Law |
When debtors are unable to pay their debts in full, the law provides a means by which the insolvent estate is dealt with (bankruptcy in the case of individuals, liquidation in the case of companies) and rules which determine how the estate is distributed among competing creditors. Creditors' claims may arise, for example, under contracts of loan, sale, lease, employment, etc., as a result of liability in tort, or, under statute, to tax authorities or environmental agencies etc. This unit examines how these competing claims are balanced and how contracts are often drafted with the aim of improving the protection of a creditor in the event of the other party to the contract becoming insolvent. Also involved in the balancing exercise, in the case of individual debtors, are the claims of the debtor and the debtor's family.
By the end of the unit students should: (i) understand how insolvency law is based on certain fundamental principles; (ii) be able to compare the solutions to problems in bankruptcy and liquidation; (iii) appreciate how the threat of insolvency plays a part in drafting contracts.
The unit develops students’ research skills through preparation for seminars and written work. It develops their oral and written communication skills through participation in seminars and preparation of written work. The unit also develops students’ skills of analysis, ability to relate different areas of law together, ability to evaluate a set of legal rules and ability to tackle legal problems.
This unit is taught via fortnightly 2 hour seminars.
Summative assessment is by one three-hour closed book examination in May/June, in which students answer 4 questions (two essays and two problems) from a choice of 8 questions. (One formative problem is set over the Christmas vacation, to be handed in at the first seminar of the spring term which is then marked, handed back and discussed at the next seminar).
