LAW 3530 - Personal Insolvency Law

North Terrace Campus - Summer - 2015

The course will examine the role of the law in relation to the theory, policy and procedures for dealing with multiple debt default and financial distress of individuals, including consumer insolvency issues. Whilst the course will focus on Australian law, there will be significant comparative aspects. Topics to be covered include the principles of the fresh start and equality of distributions, the history and purposes of the law, bankruptcy administration and regulation, the petitioning of bankruptcy through voluntary and compulsory methods, acts of bankruptcy, the roles of the trustee in bankruptcy, the effects of bankruptcy, the property of the bankrupt estate and its exemptions, investigations, recovery actions, realising property and income contributions, discharge, bankrupt deceased estates, alternatives to bankruptcy including Part X and Part IX administrations, and offences.

  • General Course Information
    Course Details
    Course Code LAW 3530
    Course Personal Insolvency Law
    Coordinating Unit Adelaide Law School
    Term Summer
    Level Undergraduate Law (LLB)
    Location/s North Terrace Campus
    Units 3
    Contact Intensive
    Available for Study Abroad and Exchange Y
    Prerequisites LAW 1506
    Incompatible LAW 3526 if taken prior to 2012
    Restrictions Available to LLB students only
    Course Description The course will examine the role of the law in relation to the theory, policy and procedures for dealing with multiple debt default and financial distress of individuals, including consumer insolvency issues. Whilst the course will focus on Australian law, there will be significant comparative aspects.

    Topics to be covered include the principles of the fresh start and equality of distributions, the history and purposes of the law, bankruptcy administration and regulation, the petitioning of bankruptcy through voluntary and compulsory methods, acts of bankruptcy, the roles of the trustee in bankruptcy, the effects of bankruptcy, the property of the bankrupt estate and its exemptions, investigations, recovery actions, realising property and income contributions, discharge, bankrupt deceased estates, alternatives to bankruptcy including Part X and Part IX administrations, and offences.
    Course Staff

    Course Coordinator: Professor Christopher Symes

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    No information currently available.

    University Graduate Attributes

    No information currently available.

  • Learning Resources
    Required Resources
    Symes and Duns, Australian Insolvency Law (LexisNexis, 2nd ed), 2012

    Nicholas, Annotated Bankruptcy Act 1966 (LexisNexis, 5th ed), 2012
    Recommended Resources
    Murray & Harris, Keay’s Insolvency (Personal and Corporate Law and Practice), 8th edition 2014, Parts I-III
    Online Learning
    Materials will be available from MyUni included a number of further readings

    Students are expected to check MyUni regularly and often to keep up to date with these materials and additional learning resources throughout the duration of the course.

    MyUni will be used to upload audio recordings of lectures where available and the accompanying powerpoint slides. Assignments will also be available from MyUni.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The course will be taught through lectures supported by interactive problem-solving seminars and practical exercises developing primary materials.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Contact time: attend 1 hour lecture plus 2 hour seminar for each topic. all lectures will be given first (that is the first four days) and then seminars (the remaining 6 days) This amounts to 36 hours of formal class time across the summer semester.

    Preparation time: In addition to attending formal classes it is anticipated that students will do substantial independent work to prepare for classes and to complete the course assignments. The University expects full time students (those undertaking 12 units per semester) to devote a total of 48 hours per week to their studies.
    Learning Activities Summary
      Lectures Reading Seminars
    Day 1,
    16 Jan
    Introduction, history, theories and principles of Bankruptcy Law Australian Insolvency Law, Chapter 1 and Chapter 2 (pages 18-28) Seminar 1 on Theories, Stigma and History
    Day 1,
    16 Jan
    Bankruptcy administration Bankruptcy Administration in Australian Insolvency Law
    Chapter 2 (pages 28-36) Further Readings t.b.a
    Seminar 2 on Bankruptcy administration
    Day 1,
    16 Jan
    Alternatives to Bankruptcy Australian Insolvency Law, Chapter 5 Seminar 3 on Alternatives to bankruptcy
    Day 2,
    19 Jan 
    Process- Commencement of bankruptcy Australian Insolvency Law, Chapter 2 , pages 36-71) Seminar 4 on process – bankruptcy notices
    Day 2,
    19 Jan
    Registered and Official Trustees Trustees in Australian Insolvency Law (Chapter 2 pages 29-35) and Further Readings t.b.a Seminar 5 on Registered Trustees
    Day 2, 19 Jan Consequences for Debtor and others- ; Proofs of Debt Australian Insolvency Law, Chapter 2 (pages 71-76); Chapter 4 (pages162-163) Seminar 6 on Consequences of bankruptcy
    Day 3,
    20 Jan
    Powers of Investigation, Recovery of Property, and Examination Australian Insolvency Law Chapter 4 (pages141-150) Seminar 7 on Bankruptcy Examinations and Provable Debts
    Day 3, 20 Jan Property and the Bankrupt Estate Australian Insolvency Law, Chapter 3 (pages 89-110) Seminar 8 on Property of the estate, and Remuneration contributions

    Day 3,
    20 Jan

    Distribution - Pari Passu and Priority Claims Australian Insolvency Law, Chapter 4 Seminar 9 on Distribution and Priority Claims
    Day 4,
    21 Jan
    Guest Speaker- Reg Trustee Contemporary Issues in Practice - Readings to be advised Seminar 10 on past exam questions

    Day 4,
    21 Jan 

    Voidable Transactions Australian Insolvency Law, Chapter 3 (pages 110-140) Seminar 11 on Voidable Transactions
    Day 4,
    21 Jan 
    Discharge, offences and other matters- Australian Insolvency Law, Chapter 6 and Chapter 2, (pages 76-86) Seminar 12 on Discharge and Offences
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Item % of final mark Due date Group or individual assessment Redeemable Learning Outcomes
    Research Essay 50 Friday 27th February 2015 at 2pm Individual no 2.1.1, 2.1.4
    Take home Exam 50 Wednesday 4th February 2015 Individual no 2.1.1, 2.1.3
    Assessment Detail
    The Research Essay will provide a choice of 10 essay topics building upon and going beyond knowledge introduced in the lectures and seminars. In addition, students may be permitted by the course coordinator to choose a specifically agreed essay topic of their choice. The research essay questions will be available on Day 1.
    Word length: 2,400 words

    The Take Home Exam will examine material taught across the entire course and will be a mixture of essay and problem-based questions. It will be available on the last day of teaching Friday 30 January and handed in on Wednesday 4th February. answers should not exceed 1,000 words.
    Submission

    Students must retain a copy of all assignments submitted.

    All assignments in this course are to be submitted electronically through Turnitin. All submissions must be accompanied by the Assignment Cover Sheet that sets out the word length, and contains a signed declaration that the assignment consists of the students own work.

    Details for electronic submission through Turnitin will be provided with the assignment instructions.

    All written work in the Law school is required to comply with the approved Law School style guide, The Australian Guide to Legal Citation.

    Extensions: Requests for extensions must be made electronically according to law school policy. Extensions will be granted only for unexpected illness, hardship or on compassionate grounds in accordance with University Policy. Work commitments, travel, holidays or sporting engagements are not unexpected circumstances.

    Penalties: 
    1. Late Submission: Submission penalties of 5% (of the total mark of the assignment) each day (or part thereof) will be deducted for late submission (including weekends and public holidays), (i.e. an essay graded 63% will have 5 % deducted if it is one day late, for a final mark of 58%, 10% if it is two days, etc).
    2. Word Length: Assignments which exceed the allocated length (word length or page limit) will be subject to a penalty of 5% of total marks available per 100 words or part thereof (i.e. with a word limit of 3,000, an essay graded 63% will have 5% deducted if it is 3001 words long, for a final grade of 58%, 10% if it is 3101 words long, etc). Words are calculated including all footnotes and headings within the text but excluding cover page information. Quotations and all referencing information are included in the word count.
    Turnaround time: The research essay for this course will be returned to students electronically within 2 weeks of the submission date with written individual feedback.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

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    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

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  • Policies & Guidelines
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