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Professor Sarah Paterson

This course is available on the LLM (extended part-time), LLM (full-time) and University of Pennsylvania Law School LLM Visiting Students. This course is available with permission as an outside option to students on other programmes where regulations permit.

This course has a limited number of places and demand is typically high. This may mean that you’re not able to get a place on this course.

This course is concerned with the principles and policies underlying the realisation and distribution of a company’s assets in an insolvency. The impact of these principles on third parties such as corporate groups, secured and unsecured creditors, directors, and employees, is also considered. Topics include:corporate governance in distress; corporate insolvency law theory;  the distributional order of priority in insolvency; distribution and corporate groups; protecting unsecured creditors; setting aside transactions and European and international recognition of insolvency proceedings.

This course will have 20 hours of teaching in the Winter Term and two hours in the Spring Term. There will be a Reading Week in Week 6 of Winter Term.

One 1,500 word essay.

A full Reading List will be distributed during the course. For introductory purposes students are directed to V. Finch and D. Milman, Corporate Insolvency Law: Perspectives and Principles (Cambridge University Press, 2017) (3rd edition).

Exam (100%, duration: 2 hours, reading time: 15 minutes) in the spring exam period.