LWMLCR-Legal Aspects of Corporate Rescue

Module Provider: School of Law
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites: Pre-requisites: No prior knowledge is required but knowledge of corporate finance and corporate law will be helpful
Co-requisites:
Modules excluded:
Current from: 2020/1

Email: b.adebola@reading.ac.uk

Type of module:

Summary module description:

Credit is the ‘life-blood’ of modern market economy. Its corollary, however, is insolvency. No corporate entity is immune from the prospect of failure, though the effects may vary in severity. Across the globe, the notion of an alternative to failure for financially distressed entities is justifiably receiving prime focus. With both emerging and developed entities concerned to reform their insolvency systems to facilitate the rehabilitation of financially distressed entities, rescue models, both formal and informal, are being created or modified with varied levels of success. The module invites students to explore the rescue concept, assess the perspectives and objectives aspired to by international rescue systems, examine the challenges faced by policy-makers and evaluate the effectiveness of the choices that are made. The module introduces students to the issues peculiar to the rescue of various types of corporate entities; highlighting how the differences in their requirements impact the design of effective international rescue models. At the end of the module, students would have developed significant knowledge of a fast-paced, rapidly developing area of the law with national and international significance.

Aims:

The module is designed:

• To afford students the opportunity to acquire critical understanding of the notion of corporate rescue.

• To encourage students to critically reflect upon the effects of insolvency on the main methods of corporate funding.

• To promote awareness of key legal and policy issues implicated in the creation of effective rescue systems.

• To stimulate debates on the political economy of corporate failure and rescue.

• To expose students to international issues in the sphere of corporate rescue law.

Assessable learning outcomes:

On completion of the module, students will be expected to be able to:

• Demonstrate knowledge of the legal framework of corporate rescue.

• Critically analyse a range of rescue perspectives and theories.

• Assess the effectiveness of a chosen rescue model.

• Execute competent and independent research into varied aspects of the law relating to corporate rescue.

Additional outcomes:

In addition to those listed in the School’s ‘core skills statement’, the module will encourage the development of:

• The ability to comment on the current state of the law and its future directions.

• Skills in oral communication, practical application, team-work and independent learning.

Outline content:

The module consists of the following main themes:

• Debt finance and the Corporate Insolvency system

• The ascendancy of Corporate Rescue systems.

• Administration and the rise of the pre-pack.

• Company Voluntary Arrangements.

• Schemes of Arrangement

• Effects of insolvency on Directors’ duties and liabilities

• Effects of insolvency on employees’ rights and ent itlements.

• Cross-border issues and law

• Comparative review of rescue models

• Contemporary Issues in Rescue Practice

Brief description of teaching and learning methods:

Module delivery will be through a mix of lectures and a group-work/student participation. Students are expected to prepare for seminars in which there will be a group discussion of seminar questions.

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

One assessed essay of 15 pages; formatted in accordance with the School of Law's Assessed Work Rules. Accounts for 100% of the allocated marks.

Formative assessment methods:

1 essay of 8-pages; formatted in accordance with the School of Law's Assessed Work Rules. The assessment allows you to benefit from feedback but does not contribute to the mark for the module.

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

50% overall.

Reassessment arrangements:

See School of Law PGT Programme Handbook.

Additional Costs (specified where applicable):

Last updated: 4 April 2020