This module aims to give students a comprehensive critical understanding of the law of corporate rescue and insolvency from a theoretical perspective.

The module aims to give students the ability to weigh up the different approaches to dealing with corporate insolvency. Students will be able to critically assess whether we should rescue for the benefit of a broad range of stakeholders, or whether instead should we liquidate and maximise returns solely to creditors. The module will encourage students to think critically about this policy balance. The module will stimulate the students’ academic interest in a challenging and exciting area of the law.

In terms of wider aims, students will also develop the ability to engage in current academic and policy debates surrounding corporate insolvency and corporate rescue. The module will encourage students to engage in critical thinking and engagement in policy and reform debates. This will enable participants to engage in wider reform debates in government and with the relevant insolvency professional bodies. Through this work the module will contribute to society by giving the students the knowledge and skills to engage in these policy debates. The module will also support a wider agenda for research in the area of corporate rescue law and policy.

(LO1) Students will be able to demonstrate an understanding of the nature and functions of a rescue culture.

(LO2) Students will be able to demonstrate a critical understanding of the effectiveness of corporate rescue regimes and their underlying policy and theory.

(LO3) Students will be able to demonstrate a critical understanding of the challenges that company directors have in achieving corporate rescue objectives.

(LO4) Students will be able to undertake effective research in the field of corporate rescue and insolvency.

(LO5) Students will be able to highlight uncertainty, complexity, and incomplete evidence in applying law to practical situations and be able to draw reasoned conclusions supported by legal authority.

(S1) Communication (oral and written) skills – oral skills will be developed in class seminars, whilst written skills will be advanced in the final written assessment.

(S2) Time and project management - Personal organisation. The module will have clearly set deadlines and tasks.

(S3) Academic writing (including referencing) skills – students will develop this specific communication skill through writing the coursework.

(S4) Research skills – students will be asked to do independent research to engage with literature and other resources.

(S5) Improving own learning and performance. The major part of the module will rely on self-learning. The handbook will provide directions for self-learning and required and additional literature for each topic.

(S6) Develop skills in reading, analysing and synthesising different viewpoints and presenting findings/conclusions in clear, comprehensible, structured format, with detailed argumentation where appropriate

(S7) Engagement with a wider audience - students will develop this communication skill through the drafting and submission of the blog entry for the assessment. The intended audience for this blog entry is the legal and accountancy professions

Module content will change slightly year-to-year. Indicatively, topics may include:

An Introduction to Corporate Insolvency: Policy and Procedures

Theoretical Underpinnings: Jackson, Warren, Gross, Korobkin, et al - the Great Debates

The Cork Report (Cmnd8558): the beginnings of corporate rescue?

Early Rescue: Olympia & York and One Canada Square – a testament to the rescue culture?

Judicial Attitudes to Rescue: Facilitation

Boosting the rescue culture: the Enterprise Act 2002 and Administration’s new aims

Further boosting activity: the Corporate Insolvency and Governance Act 2020 – PLCs placated?

Timeliness and Forum Shopping: Part26A, restructuring plans and the moratorium

Rescue and Communitarianism in Action: Football Club Rescue – Wigan and Bury in Focus

Rescue and Communitarianism in Action: Public Interest Insolvencies – Baglan Bay in Focus

Futures: Communitarianism and th e Social Enterprise?

Teaching Method 1: Seminars

Scheduled Directed Student Hours: 11 x 2 Hours (22 hours)

Unscheduled Directed Student Hours: 178.

Description: Interactive seminars focussing on the key issues raised by the module.

Attendance Recorded: Yes