Insolvency in Anglo American Law
This module focuses on how we regulate problems associated with insolvency.
It examines, first, the system of bankruptcy, which provides that individual creditors have their rights to enforce their debts suspended in favour of a collective system of distribution.
Secondly, it considers how and why the law provides a mechanism for countering the risks of bankruptcy through taking security.
Thirdly, we examine how and why the law endeavours to ensure that the interests of creditors are not prejudiced by the behaviour of debtors on the brink of bankruptcy by providing that certain transactions vulnerable to being reversed.
Finally, we will consider how and why the courts have developed doctrines that invest certain claimants with proprietary rights, thereby ensuring that they are not forced to line up as unsecured creditors.