o x f o r d l a w - graduate taught courses: corporate insolvency law

oxford law

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Corporate Insolvency Law
Corporate insolvency gives rise to a number of fascinating and complex questions. Which assets can be claimed by the company’s creditors? What should be done with them? How should the proceeds raised be distributed amongst the creditors? How should those responsible for the company’s losses be dealt with? In addition, many interesting questions from other areas of law (particularly property law) come to be raised and explored in the context of insolvency. The course seeks to develop an understanding of the ways these issues are resolved by the current law. Students will also be expected to analyse and evaluate the law, and consideration will be paid to the business context in which insolvency disputes arise.
The course begins with an overview of the functions of insolvency procedures. It then examines, in the context of winding-up, the relationship between insolvency law and the general law of property and obligation, and the extent to which insolvency law interferes with rights accrued under the general law, and examines the rationality of the legal principles underlying the rules relating to the treatment of claims and the distribution of assets in winding up. The course then turns to consider procedures that are capable of securing the continuation of viable businesses, often referred to as “corporate rescue”. The most significant of these is the administration procedure, but administrative receivership, which it is gradually replacing, is also still of practical importance. They raise interesting and complex questions about the allocation of decision-making power, and the mechanisms for ensuring the accountability of decision-makers. Company law also has a role to play in relation to insolvent companies, raising in particular such questions as the liability of a parent for the debts of its subsidiary and the responsibilities of directors under general law and under insolvency legislation.
No prior knowledge of the subject is required, nor is it necessary to have studied company law, though this is of some advantage.


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	Corporate Insolvency Law Corporate insolvency gives rise to a number of fascinating and complex questions. Which assets can be claimed by the company’s creditors? What should be done with them? How should the proceeds raised be distributed amongst the creditors? How should those responsible for the company’s losses be dealt with? In addition, many interesting questions from other areas of law (particularly property law) come to be raised and explored in the context of insolvency. The course seeks to develop an understanding of the ways these issues are resolved by the current law. Students will also be expected to analyse and evaluate the law, and consideration will be paid to the business context in which insolvency disputes arise. The course begins with an overview of the functions of insolvency procedures. It then examines, in the context of winding-up, the relationship between insolvency law and the general law of property and obligation, and the extent to which insolvency law interferes with rights accrued under the general law, and examines the rationality of the legal principles underlying the rules relating to the treatment of claims and the distribution of assets in winding up. The course then turns to consider procedures that are capable of securing the continuation of viable businesses, often referred to as “corporate rescue”. The most significant of these is the administration procedure, but administrative receivership, which it is gradually replacing, is also still of practical importance. They raise interesting and complex questions about the allocation of decision-making power, and the mechanisms for ensuring the accountability of decision-makers. Company law also has a role to play in relation to insolvent companies, raising in particular such questions as the liability of a parent for the debts of its subsidiary and the responsibilities of directors under general law and under insolvency legislation. No prior knowledge of the subject is required, nor is it necessary to have studied company law, though this is of some advantage.