LAWCOMM 461 : Corporate Insolvency
Law
2021 Semester Two (1215) (15 POINTS)
Course Prescription
Course Overview
The Corporate Insolvency Law course will focus on the law relating to liquidations and voluntary administrations in New Zealand, although some reference will also be made to bank resolution and receiverships. The first part of the course will examine the history behind and the fundamental principles driving modern corporate insolvency law. The second part of the course will consider the New Zealand law relating to liquidations, including the grounds upon which a company can be put into liquidation; how the company or creditors can challenge attempts to liquidate the company; the impact that liquidation has upon the company, its board, its shareholders and relevant third parties, particularly secured creditors; and the powers and duties of the liquidator. In relation to this last issue, the course will focus on the special powers that liquidators have to disclaim onerous contracts and property, to reverse transactions that occur in the run-up to insolvency and to swell the assets of the insolvent estate by commencing proceedings against the directors and related parties. The final part of the course will consider the issue of voluntary administration, which aims to rehabilitate the company and restore it to a healthy trading position, rather than bringing the company to an end by distributing its assets.
Course Requirements
Capabilities Developed in this Course
| Capability 1: | Disciplinary Knowledge and Practice |
| Capability 2: | Critical Thinking |
| Capability 3: | Solution Seeking |
| Capability 4: | Communication and Engagement |
| Capability 5: | Independence and Integrity |
Learning Outcomes
- Identify and evaluate the underlying theoretical justifications in any corporate insolvency system (Capability 1.1, 2.2 and 4.1)
- Articulate and apply key legal principles, procedures and concepts that relate to the insolvency and financial distress of corporate entities to different factual scenarios in order to reach reasoned solutions and make reasoned recommendations (Capability 1.1, 1.3, 2.1, 2.2, 2.3, 3.1, 3.2, 3.3, 4.1 and 5.1)
- Identify, critique and evaluate New Zealand's legal approach to key issues regarding the liquidation and administration of insolvent and financially distressed companies in comparison with approaches taken in other common law-based jurisdictions (Capability 1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 3.3, 4.1 and 5.1)
- Demonstrate effective written communication skills (Capability 4.1)
Assessments
| Assessment Type | Percentage | Classification |
|---|---|---|
| Online Quiz | 5% | Individual Coursework |
| Assignments | 25% | Individual Coursework |
| Final Exam | 70% | Individual Examination |
| 3 types | 100% |
| Assessment Type | Learning Outcome Addressed | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |||||||
| Online Quiz | ||||||||||
| Assignments | ||||||||||
| Final Exam | ||||||||||
The online quiz will need to be completed before the written assignment can be submitted for assessment.
Workload Expectations
This is a standard 15-point course. There will be around 36 hours of lectures in this course. As a general guide, you should expect a workload of three hours outside of the classroom for each hour spent in class. The guideline for the total workload for this course is 150 hours.
Delivery Mode
Online
As the lecturer is off-shore and subject to travel restrictions, the course is likely to be delivered online and remotely rather than in-person, although this will be kept under review. In terms of online delivery, the possibility of live-streaming lectures to students gathered physically in a lecture theatre is under investigation. These "live" lectures will also be recorded. The default position is that lectures will be recorded and uploaded to the CANVAS site.
There will in addition be "live" individual office hours hosted through the zoom function in CANVAS at which students are able to discuss issues arising out of the lectures.
Learning Resources
As well as cases and articles, the textbook for the course will be Watts, Campbell and Hare, "Company Law in New Zealand" (LexisNexis, 2nd ed, 2016).
Student Feedback
At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.
Your feedback helps teachers to improve the course and its delivery for future students.
Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.
Digital Resources
Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).
Please remember that the recording of any class on a personal device requires the permission of the instructor.
Academic Integrity
The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.
Inclusive Learning
All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course director, lecturer or tutor.
Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz
Special Circumstances
If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a Student Academic and Support Adviser as soon as possible before the assessment is due.
If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.
This should be done as soon as possible and no later than seven days after the affected test or exam date.
Learning Continuity
In the event of an unexpected disruption we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and your assessment is fair, and not compromised. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator, and if disruption occurs you should refer to the University Website for information about how to proceed.
Student Charter and Responsibilities
The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.
Disclaimer
Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.
In this course you may be asked to submit your coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.