The subject will seek to give students an insight into the legal principles governing the consequences of personal and corporate insolvency as a result of inability to pay debts. The course will examine issues arising in relation to personal insolvency. This course will help the students to understand the distinction between personal and corporate insolvency.
By the end of the course, students should be able to:
- Critically discuss the legal principles of personal and corporate insolvency.
- Explain how debt recovery can be carried out on individuals and body corporate.
- Discuss different modes of insolvency like bankruptcy, receivership, liquidation and administration of the same?
- Analyze the options available for the debtor and creditors.