The insolvency profession is a dynamic and highly specialised field. This course of five learning manuals is designed for those who are entering the profession or existing practitioners who need a refresher.
Module 1: Introduction to insolvency and reconstruction
- Aims and principles of modern insolvency law
- The legal framework and institutions of insolvency in Australia
- Core functions of an insolvency administration
- What types of insolvency administrations are there, and how do they differ?
- Company administrations – a comparison
- Individual and partnership administrations – a comparison
- Diagnosing financial failure
Module 2: Corporate receivership and other forms of controllership
- Terms, definitions and institutions
- Receivers’ and ‘receivers and managers’
- Controller and Managing controller
- PPSA
- Australian Securities and Investments Commission (ASIC)
- The courts
- Mortgagee in possession
- Ordinary unsecured creditors
- Summary of relevant provisions of the Corporations Act 2001 (Cth)
- Powers of appointment
- Effects of appointment
Module 3: Voluntary administration and other arrangements with creditors
- Voluntary administration under Part 5.3A of the Corporations Act 2001 (Cth)
- Commencement of the administration
- Appointment by the company – Section 436A
- Appointment by a liquidator or provisional liquidator – Section 436B
- Appointment by a substantial secured party – Section 436C
- Court-approved schemes of arrangement for corporations
- Informal turnaround arrangements with creditors
Module 4: Liquidation
- Purposes of liquidation
- Australian Securities and Investments Commission (ASIC)
- Companies Auditors and Liquidators Disciplinary Board (CALDB)
- The court
- Contributories
- Committees of inspection
- Liquidators
- Winding-up in insolvency
- Administration of the liquidation
- Offences under the Corporations Act 2001 (Cth)
- Liquidation versus receivership
- Liquidation versus Part 5.3A administration
Module 5: Bankruptcy
- Bankruptcy administration: terms, definitions and institutions
- The court
- The Inspector-General
- Operation of bankruptcy
- How does a debtor become bankrupt?
- Specific duties under the Bankruptcy Act 1966 (Cth)
- Parts IX and X of the Bankruptcy Act 1966 (Cth)
This course consists of five hard copy learning manuals and five online assessments.
Want to know more? Click below to view a sample of the learning manual:
Learning objectives
- List and describe the present range of insolvency administrations applying to corporations and to individuals/partnerships
- Explain the distinction between the terms ‘insolvency’, ‘bankruptcy’ and ‘liquidation’
- Compare and contrast the broad functions and procedures carried out within corporate – as opposed to individual – insolvency administrations
- Discuss the aims of modern insolvency law
- Explain the characteristics of receivership and controllership
- Explain the status and rights of both secured and unsecured creditors under these administrations
- Identify the effects of receivership and its inter-relationships with other insolvency procedures, especially winding-up
- List the powers, duties and obligations of controllers
- Outline the method of appointment of a controller and avenues available to interested parties
- Explain and distinguish between the following reconstruction arrangements with creditors:
– voluntary administrations
– deed of company arrangement
– court-approved scheme of arrangement
– informal arrangement with creditors - Explain the role of the administrator under the corporate arrangements available
- List the purposes of liquidation
- List the different modes of insolvency liquidation and outline how each may be initiated
- Explain the role and position of liquidators including their responsibilities and the regulation of their conduct by ASIC and the Companies Auditors and Liquidators Disciplinary Board (CALDB)
- Identify the legal effects of liquidation
- Describe the process involved in administering a liquidation and identify the major procedural issues with which a liquidator will be concerned
- Identify the property which is available to be recovered by a liquidator in administering a liquidation, and apply the law which relates to the actions that are available to a liquidator to recover the property
- Explain the procedural difficulties faced by liquidators in winding-up a company’s affairs
- Identify the powers and duties which liquidators have in administering a winding-up, and the constraints they face in realising assets.
- List and explain the options which are available to insolvent individuals
- Explain how bankruptcies can be initiated.
- Compare and contrast the law which applies to individuals with concepts of law applicable in a company liquidation
- List the legal effects of bankruptcy
- Explain the role and position of a trustee in administering a bankrupt estate
- Explain the process involved in administering a bankrupt estate
- Outline the procedures involved in terminating a bankruptcy
Audience
This learning manual is suited for those working in:
- insolvency and reconstruction
- bankruptcy, receivership and liquidation
- public practice, government and government enterprise sectors
