78605 ARITA Fundamentals of Restructuring, Insolvency & Turnaround
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Subject handbook information prior to 2024 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Description
This subject forms part of the Australian Restructuring Insolvency & Turnaround Association (ARITA) Advanced Certification program. It provides the foundation for restructuring and insolvency professionals by establishing the importance of professional conduct, builds the skills to identify insolvency and establishes a solid understanding of Australia’s formal restructuring tools. A particular focus is on professional ethics and voluntary administration. An introduction to cross-border insolvency and the Personal Property Securities Act 2009 (Cth) is also provided.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Business restructuring and turnaround law: Demonstrate specialised legal knowledge relating to restructuring, turnaround and insolvency of Australian businesses including regulatory approaches and recent developments; and apply their understanding in various specialised contexts; |
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| 2. | Reflective and ethical approach: Recognise, reflect upon and respond to ethical issues arising in business restructuring and turnaround situations in ways that show evidence of accountability and professional judgment; |
| 3. | Stakeholder accountability: Think critically about issues relating to business restructuring and turnaround law and policy to generate and evaluate appropriate responses to hypothetical problems, taking into consideration a range of stakeholders with an interest in the restructuring and turnaround efforts; |
| 4. | Factual legal policy issues: Research, identify, evaluate and synthesise factual, legal and policy issues arising in a range of business restructuring and turnaround contexts. |
Teaching and learning strategies
Strategy 1 – Online learning
This subject uses Canvas, an online learning management system. Via Canvas, students will be provided with reading and reference material for each Module as well as assessment instructions, online portals for submitting assessment tasks, and discussion boards. Students can access material for self-directed learning and engage in participant-led discussion on key topics. Short podcast and screencast recordings on key themes and topics will be provided for each Module. Comprehensive summary and reading guides will be provided for each Module.
Strategy 2 – Webinars
Students will participate in four webinars with the Subject Coordinator. This will provide an opportunity to discuss problems and issues with material covered in the previously-studied topics. Webinars will consider one or more problem-based scenarios based on material covered in topics previously studied. A recording of each webinar will be posted on Canvas.
Strategy 3 – Interdisciplinary content
This subject will draw on materials from law, accounting, finance and management although the majority of content will feature an analysis of the legal and regulatory framework for restructuring, insolvency and turnaround. In some topics there will be examples and questions that will require some basic knowledge of accounting and finance concepts.
Strategy 4 – Case study analysis
Students will consider a range of practical case studies throughout the subject that will provide practical contextual material to each week’s topic.
Strategy 5 – Ethics hypothetical
In order to successfully complete this subject, students must pass Assessment task 1: Ethics essay. This involves students preparing a written analysis of a posed hypothetical scenario that gives rise to ethical issues and ambiguities.
Strategy 6 – Problem-based learning
Each topic in this subject involves the consideration of legal, accounting, finance and management issues through the discussion of hypothetical problems. This will allow students to apply their knowledge to common, practice-based hypothetical scenarios. Scenarios will be discussed and analysed in the online webinars and the problem-based assignment (Assessment task 2), which will serve to develop students’ problem-solving skills that will be applied in the take-home exam (Assessment task 3).
Content (topics)
- The context of restructuring, turnaround and insolvency in Australia
- An introduction to the Personal Property Securities Act 2009 (Cth)
- Professional ethics
- Establishing solvency and insolvency (in context)
- Voluntary administration (including an introduction to corporate recovery proceedings) and deeds of company arrangement
- Schemes of arrangements
- Workouts and restructuring
- An introduction to cross-border insolvency
Assessment
Assessment task 1: Ethics essay
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 |
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| Weight: | 15% |
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Assessment task 2: Problem-based assignment
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 |
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| Weight: | 35% |
| Criteria: |
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Assessment task 3: Take home exam
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 |
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| Weight: | 50% |
| Criteria: |
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