Dear students,
for this module, you need to obtain a copy of the Insolvency Act 24 of 1936 (and the Companies Act). The text is Hockly's Insolvency Law , 9th Edition.
The provisional module outline is setout below.
____________________
UNIVERSITY OF
ZULULAND
FACULTY OF COMMERCE,
ADMINISTRATION & LAW
DEPARTMENT OF
PRIVATE LAW
KWADLANGEZWA
CAMPUS
INSOLVENCY & WINDING-UP- LPIW302
(12 (NQF Level 6))
SEMESTER 2 -2016
**This module guide was compiled by
Mr MC Buthelezi
Course personnel
Course leader: Mr MC Buthelezi
Contact details: Room 307, D Block.
Contact
Number: 6117
Consultation
Hours: TBA
Please consult the
notice at Room 313 in this regard. Alternative consulting hours can be arranged
directly with me.
HOD: Mrs K Naidoo
Room
310, D Block.
Contact
Number: 6213
Law Dept
Secretary: Ms T Ntuli
Room
310, D Block.
Contact
Ext: 6212
See also notice at Room 307.
Vision:
The University of Zululand
will be the leading rural-based comprehensive university providing quality,
career-focused undergraduate and post graduate education, including research in
the social and natural sciences, in partnership with the local and global
community.
Mission:
To provide access to students
from diverse backgrounds to an enabling and caring learning and teaching
environment; to offer relevant programmes that are responsive to the
development needs of society; to generate knowledge through research,
disseminate it through publications, teaching and development, in partnership
with the community.
Module Guide and Course outline for the Law of Insolvency
& Winding-Up
Introductory
material
This provides a general overview of the
module, administrative information and details of the various pieces of
assessment you will be required to complete to pass the course.
1. Welcome Statement
Welcome to the course Insolvency
& Winding-up (LPIW302). This module comprises the Law of Insolvency and
Winding-Up, Liquidation under the Companies Act, Voluntary surrender and
compulsory sequestration, Sequestration in terms of Insolvency Act, 24 of 1936.
It also deals with the difference between winding-up, voluntary winding-up ad
compulsory winding-up, as well as judicial management.
Assessment consists of two assessments and an exam. The best way to prepare
for the exam is to ensure that each week you undertake the required lecture
materials and tutorial work. From a teaching perspective, this module will
afford you the chance to develop your potential through participation in class
discussion and individual assessment. The teaching method will therefore be
interactive rather than lecturer-focused. Active participation and in-class
problem solving shall be rewarded by way of inclusion in the calculation of the
semester mark.
The guiding principle for problem-type question in this module is that
there is no right or wrong answer, but rather potential answers which are
subject to further qualification (subject to the correct legal principles).
I have included the LLB degree policy document as well as very useful
study hints, hoping it will assist you with understanding what is expected of
you as a student at Unizulu, as well as to assist you with your studies.
There is no ‘easy’ way. Put in the work and you will do well in the course.
2. Overview
of LLB Degree
Name of
the Qualification: The Bachelor of Law degree
Rationale
for the degree:
In
studying law, one embarks on the challenging process of becoming a member of
one of the oldest and most rewarding professions that exists.
Legal
training develops skills in the mastering of facts and theory as well as in
logic explanation. A successful learner will acquire these qualities and
discover them to be greatly to his/her advantage. The law graduate enjoys a status shared by
few others and has a wide choice of careers; inter alia practise as an
attorney, advocate, conveyance, notary, legal advisor, prosecutor, magistrate
or judge among a variety of career choices.
3.1 Purpose and outcome of the course
The
purpose of this course is to develop the ability of learners to use information
to equip them with a sound knowledge of the theory and practice of the law of
Insolvency and winding-up, including:
- students with a
basic understanding of legal concepts of insolvency & winding up.
- To deepen the
learner’s understanding of the purpose and legal effects of insolvency
& winding up.
- To enable a
learner to apply the general principles of Insolvency & Winding up to
real life problems, involving the application.
3.2 Text
R Sharrock, K
Van der Linde & A Smith, Hockly’s
Insolvency Law (2012), i.e. 9TH Edition.
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Week
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Module
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Activity/Reading
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Assessment
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1
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Module 1: Introduction to Insolvency.
We will look at the general overview and the nature of the law of
insolvency.
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Text: Chapters 1
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First assessment – TBA (third week
of August 2016)
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2
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Text: Chapters 2
& 3
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3
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Text: Chapters 4 to
7
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4
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Text: Chapters 8 to 14,
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Second assessment – TBA (third week of September 2016)
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5
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Module 5: Realization and distribution of the assets
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Text: Chapter 15 to 17
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6
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Text: Chapters 18
& 19
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7
|
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Text: Chapters 20 to
21
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8
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Module 8: Winding-up and Rescue of companies
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Text: Chapters 23 to
25
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9
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Exam
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All Chapters
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To be announced.
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Lecture slots: Monday, 14:30;
Wednesday 13:30
Thursday, 15:30
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5. Assessments
5.1 Assessment
objectives
The objectives
of this course are outlined in the course specification. You should note that
each objective relates to a module of study for this course. All objectives
will be assessed via two assessments and an end-of-semester examination worth
50% of the final mark. Assessment 1 is worth 25% and assesses modules 1–5. Assessment 2 is worth 25% and assesses
modules 6–10.
In studying
this course you should also focus upon the learning objectives specified at the
commencement of each module in the study book. They form the basis for your
readings and revision of each topic.
Solutions
Solutions to the assessments will be
provided during the feedback discussions.
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2.1 Apart from other forms of
assessment, at least two written assessments are to be conducted in respect of
each module, one (the term assessment) approximately halfway through the term,
and the other (the final assessment) at the end of the term.
2.2. The term assessment covers
such parts of the work done as determined by the lecturer and the final
assessment covers all the work done during the term.
2.3 Both assessments are of
one lecture period (one hour) duration and for fifty marks.
2.4 In order to determine a
student’s results in respect of a module, both a terms mark (TM) and the final
assessment mark (FAM) are taken into account. This is in accordance with the
principle of continuous assessment.
2.5 The TM incorporates the
term assessment, and other forms of assessment, which a lecturer may conduct.
2.6 In calculating the result,
the following formula is used: TM > FAM : both marks carry equal weights
(50%).
2.7 For the purpose of
recording a student’s performance, the following categories will apply: 0%-44%:
Fail; 45-49%: Supplementary Assessment; 50-64%: Pass; 65-74%: First Class Pass;
75-100%: Pass With Distinction.
2.8 A student who obtained a
result of between 45% and 49% qualifies for a supplementary assessment in terms
of Faculty Rules.
2.9 A student who missed
either of the written assessments cannot pass, except in the case where he/she
missed the term assessment and obtained a mark of an at least thirty-six out of
fifty for the final assessment. (That would give a result of fifty: 36 ÷ 5 x 7
= 50,4).
2.10. Where a student misses one of the written assessments, admission to
the supplementary assessment is not automatic. In order to qualify, the student
must comply with the following:
(a) Satisfy the Vice-Dean/Head
(Acting-Head) of Department/Lecturer that he/she has a valid excuse for being
absent (e.g. illness certified by a medical practitioner or death of a family
member supported by a death certificate).
(b) He/she must have performed
adequately in terms of other methods of assessment. This performance, together
with the mark obtained in the one written assessment should justify a result of
45% (the mark required for a supplementary assessment).
The implication is that a student who misses both written assessments
cannot pass the module.
6. Rules for the Bachelor of Laws Degree
1. The general rules for
admission to a bachelor’s degree apply.
2. The
minimum duration is four years; provided that this period may be reduced by
credits given in terms of Rule 3; provided further that a student must pass at
least sixteen law modules at this University in order to qualify for the
degree.
3. Senate
may credit a student with comparable modules passed at other universities or
similar institutions, or may credit a student with specific modules on the
basis of relevant prior learning and/or work experience; provided that such a
student must pass at least sixteen prescribed law modules at this institution
in order to qualify for the degree.
4. The
assessment requirements for the programme and each module must be successfully
completed. In order to complete a module successfully, a student shall get a
grade of between 50% and 100%.
4.1 To obtain the degree with a first class
pass, a candidate shall complete the degree in the minimum prescribed duration
of the curriculum and, in the case of part-time students, the minimum
prescribed duration plus one year, AND obtain first-class passes or
distinctions in at least sixteen modules prescribed for the last eight terms of
the curriculum, AND a final grade aggregate of at least 60% for all modules
prescribed for the degree.
4.2 To
obtain the degree with distinction, a candidate shall complete the degree in
the minimum prescribed duration of the curriculum and, in the case of part-time
students, the minimum prescribed plus one year, AND obtain distinctions in at
least sixteen modules prescribed for the last eight terms of the curriculum,
AND obtain a final grade aggregate of at least 65% for all modules prescribed
for the degree.
5. Candidates
who obtain a final grade of between 45% and 49% in a module assessment may be
invited to a written or oral supplementary assessment at a date and time determined
by the Vice-Dean (Law).
A candidate who is successful in the supplementary
assessment shall be credited with a pass of 50%.
7. Academic progress
7.1 Students
must register for modules comprising the programme in the order prescribed by
the curriculum.
7.2 A
student may only register for prescribed autonomous modules (including law
modules in the third and fourth terms of the first year) if he/she has either
passed the modules prescribed for the first two terms of the first year, or has
attended lectures in the modules as a registered student and participated in
all prescribed assessments.
8. Examination
8.1 Examination
techniques
Most courses
include an end-of-semester examination as part of the assessment. The formal
examination requires you to demonstrate your learning to the lecturer. If you
have followed our suggestions about studying, you will be well on your way to
success. Here are a few additional points to help you with your exams.
8.2 Preparing
for examinations
It is a good
idea to begin revising the semester’s materials at least two or three weeks
before the examination. That way, you have time to put in a bit of extra effort
on areas you are not quite certain of. Here are some extra points to help you.
Revise your
notes. Go over the notes you have made for yourself
during your study. Make sure that you see the relationship between the key
points that you have written down, and the related details.
Get together. If possible,
get together with others studying the same course. Discuss each point. Quiz
each other.
Review ‘past examination papers’. You can use same as a ‘trial run’ to get an idea of working within a strict time limit. Past examination
papers may give you an idea of the kind of questions that might be asked. But
don’t place too much emphasis on them as lecturer
can ask different styles of questions.
Review
assignments. Go over previous assignments. If you didn’t do well, look at the lecturer’s comments/feedback to find out where you
went wrong.
Get to bed in
good time. Do not stay up revising all of the night before
the exam. Get a good night’s sleep so that
you are alert and at your best. And don’t skimp on meals before the exam. Mental
exertion is just as dependent on a healthy body as is physical exertion.
Confirm examination
mode. Come prepared with all necessary equipment.
Time planning. Just as you
plan how you will use your weekly study time, so too should you plan your
time in the examination. Here are some guidelines on how to use your time
effectively in your examination.
·
Try to leave
yourself sufficient time at the end of the examination to check over your work
and make any last-minute corrections.
·
If all
questions have equal weight, plan to take about the same amount of time with
each one. If the questions have unequal weighting, spend more time on those
questions with many marks, and less time on the ones with fewer marks.
·
In multiple
choice questions, don’t spend too
much time on questions you can’t answer easily
or quickly. Go ahead and answer the others first, leaving yourself sufficient
time to return to those that you are unsure of.
8.3 Hints on
answering questions.
Here are
few hints to help you in answering questions.
·
Write legibly.
Even with the best will in the world, a marker cannot give you credit if your
writing cannot be read.
·
In answering
essay questions, make certain that your essay is well organised and
grammatically correct. It will pay dividends to spend a few minutes planning
your essay before you begin writing.
·
Make sure that
you answer the question asked. Underline the key words in the question, and
underline the verb. This will help you to focus on the essence of the question.
8.4. Form study
groups
Form a study
group with other students. Ask for help or to get a fresh point of view. You will
find that trying to explain something to another person is one of the very best
ways to learn it yourself.
Mr MC
Buthelezi
KwaDlangezwa
04 July 2016
Regards
MC
PS: We will meet on Thursday (not Friday) during our lecture, at 15:30.
