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2013/14 Taught Postgraduate Module Catalogue

LAW5567M International Corporate Rescue

15 creditsClass Size: 20

Module manager: Professor Gerry McCormack
Email: g.mccormack@leeds.ac.uk

Taught: Semester 2 (Jan to Jun) View Timetable

Year running 2013/14

Pre-requisite qualifications

- LAW5550M Corporate Law OR
- Completion of an introductory law course OR
- have appropriate professional experience.

Pre-requisites

LAW5550M

Corporate Law

This module is approved as an Elective

Module summary

The general aim of the course is to impart a critical analytical understanding of the general principles of corporate rescue law and practice. The focus will be on the international and comparative dimensions of the subject with a consideration of the approaches adopted in UK law as well as Chapter 11 of the US Bankruptcy Code.Corporate Rescue law has also been the subject of extensive debate and discussion in recent years with the UK reforming it's law through the Enterprise Act 2002 so as to bring it more closely into line with Chappter 11 of the US Bankruptcy Code though significant differences remain in practice. Chapter 11 is itself under review by the American Bankruptcy Institute with a view to introducing a new bankruptcy statute in the next few years - see www.commission.abi.org

Objectives

The course has the following specific objectives:

- Evaluating the scope, structure and purpose of Corporate Rescue Law including policy material and the economic and political context of the subject matter.
- Evaluating the part that Corporate Rescue Law plays in the development of national economies.
- Synthesise primary and secondry materials on national and international law and policy pertaining to coporate rescue.
- Evaluating the appropriateness and effectiveness of existing legal dispensations in the sphere of corporate rescue including their implications for business and economic activity.
- Understand the role of policy actors in the process of law formation in this sphere.
- Produce a substantial piece of individual written research work reflecting the above objectives.

Syllabus

This module provides an examination of how the law can provide possible alternatives to the liquidation of insolvent companies. In the last quarter century a number of jurisdictions have introduced laws which, in certain circumstances, provide possible alternatives to liquidation but the approaches taken vary considerably.

In this module the following will be covered:
1) the theoretical basis of the concept of corporate rescue including an examination of pro-debtor and pro-creditor jurisdictions;
2) an examination of informal measures e.g. the London Approach
3) a comparison of debtor-in-possession and creditor-in-possession approaches
4) the use of the moratorium in corporate rescue
5) relevant aspects of corporate rescue procedures in some (or all) of the following will be examined - United Kingdom, United States, Canada, Ireland, Australia, Germany, France
6) the role played by the law in the control of the senior management of companies including such matters as the personal liability and potential disqualification of company directors and others.

Teaching methods

Delivery type	Number	Length hours	Student hours
Seminar	5	2.00	10.00
Private study hours			140.00
Total Contact hours			10.00
Total hours (100hr per 10 credits)			150.00

Private study

75 hours - 15 hours preparation for each seminar
30 hours - 6 hours reading and reflection following each seminar
35 hours - research and revision for assessment.

Opportunities for Formative Feedback

By attendance at, and participation in, seminars.

Methods of assessment

Coursework

Assessment type	Notes	% of formal assessment
Essay	1 x 4,500 word essay	100.00
Total percentage (Assessment Coursework)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 20/02/2014

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