LA9A8-20 International Insolvency & Debt Restructuring
Introductory description
This course will analyse the different aspects of the insolvency and debt restructuring of corporations, financial and credit institutions and sovereign entities from an international perspective. The course deploys both a transactional perspective, with reference to actual cases, and a policy perspective in order to understand the rationale(s) of this continuously developing area of the law.
Some topics covered include: access to finance (capital markets, credit market, and secured credit); UNCITRAL’s Legislative Guide on Secured Transactions and Model Law on Cross-Border Insolvencies; out-of-court workouts; banking crises; IMF’s Sovereign Debt Restructuring Mechanism; holdout creditors and the use of collective action clauses; the role of the Paris Club and other actors.
Module aims
The main learning outcome of this module is to enable students to be updated with the current legal aspects and policy issues of international insolvency and distressed debt situations, globally and regionally. It will prepare students with a critical and analytical capacity to confront the current problems of the international financial system in an interdisciplinary fashion. Also, will enable students to understand general legal doctrines and disciplines that are relevant to the interdisciplinary professional and academic environments.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Introduction to Insolvency: Aims, Principles and Recent Developments
Corporate Finance and Insolvency
International Insolvency
Cross-Border Insolvency in the UK/US
EU Insolvency Regulation
Insolvency in Emerging Markets
Insolvency of Financial Entities
Sovereign Debt Restructuring
International, Supranational, and Domestic Actors in Sovereign Insolvency
Learning outcomes
By the end of the module, students should be able to:
Indicative reading list
Finch, Vanessa, Corporate Insolvency Law, CUP, 2009
Goode, Royston Miles, Principles of Corporate Insolvency Law, OUP, 2011
Olivares-Caminal, Rodrigo et al., Debt Restructuring, OUP, 2011
Lastra, Rosa M and Lee Buchhelt, Sovereign Debt Management, OUP, 2014
Lastra, Rosa M. et al., Cross-Border Bank Insolvency, OUP, 2011
INSOL International, Statement of Principles for a Global Approach to Multi-Creditor Workouts, available at http://www.insol.org/statement.html
Subject specific skills
No subject specific skills defined for this module.
Transferable skills
No transferable skills defined for this module.
Study time
| Type | Required |
|---|---|
| Tutorials | 9 sessions of 1 hour (4%) |
| Online learning (independent) | 9 sessions of 1 hour (4%) |
| Private study | 182 hours (91%) |
| Total | 200 hours |
Private study description
No private study requirements defined for this module.
Other activity description
Consultation
Costs
No further costs have been identified for this module.
You must pass all assessment components to pass the module.
Students can register for this module without taking any assessment.
Assessment group A1
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| 4000 word essay | 100% | No | |
|
Students must write a 4000 word essay on one of the given titles. |
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Feedback on assessment
Feedback via Tabula
Courses
This module is Optional for:
- Year 1 of TIMA-L981 Postgraduate Social Science Research
- Year 1 of TLAA-M3PJ Postgraduate Taught Advanced Legal Studies
- Year 1 of TLAS-M3P7 Postgraduate Taught International Economic Law
- Year 1 of TLAS-M221 Postgraduate Taught LLM in International Corporate Governance and Financial Regulation
This module is Option list B for:
- Year 1 of TLAA-M223 Postgraduate Taught International Commercial Law
This module is Option list C for:
-
TPOS-M9PE Double MA in Politics and International Studies (with NTU Singapore)
- Year 1 of M91F Globalisation and Development (Double Degree - NTU)
- Year 1 of M91L International Development (Double Degree - NTU)
- Year 1 of M91B International Political Economy (Double Degree - NTU)
- Year 1 of M91C International Politics and East Asia (Double Degree - NTU)
- Year 1 of M91D International Politics and Europe (Double Degree - NTU)
- Year 1 of M91G International Security (Double Degree - NTU)
- Year 1 of M91K Political and Legal Theory (Double Degree - NTU)
- Year 1 of M91J United States Foreign Policy (Double Degree - NTU)
- Year 2 of M91L International Development (Double Degree - NTU)
- Year 2 of M91B International Political Economy (Double Degree - NTU)
- Year 2 of M91C International Politics and East Asia (Double Degree - NTU)
-
TPOS-M9PP Double MA in Politics and International Studies (with Universität Konstanz, Germany)
- Year 1 of M92L International Development (Double Degree - Konstanz)
- Year 1 of M92B International Political Economy (Double Degree - Konstanz)
- Year 1 of M92C International Politics and East Asia (Double Degree - Konstanz)
- Year 1 of M92D International Politics and Europe (Double Degree - Konstanz)
- Year 1 of M92E International Relations (Double Degree - Konstanz)
- Year 1 of M92G International Security (Double Degree - Konstanz)
- Year 1 of M92K Political and Legal Theory (Double Degree - Konstanz)
- Year 1 of M92H Public Policy (Double Degree - Konstanz)
- Year 2 of M92B International Political Economy (Double Degree - Konstanz)
- Year 2 of M92C International Politics and East Asia (Double Degree - Konstanz)
- Year 2 of M92D International Politics and Europe (Double Degree - Konstanz)
- Year 2 of M92E International Relations (Double Degree - Konstanz)
- Year 2 of M92G International Security (Double Degree - Konstanz)
- Year 2 of M92K Political and Legal Theory (Double Degree - Konstanz)
- Year 2 of M92H Public Policy (Double Degree - Konstanz)
- Year 2 of TPOS-M9PT MA in International Development
- Year 2 of TPOS-M1P8 Postgraduate Taught International Politics and East Asia
- Year 2 of TPOS-M9PS Postgraduate Taught Political and Legal Theory
- Year 2 of TPOS-M9PQ Postgraduate Taught United States Foreign Policy