LL4AJ      Half Unit
Insolvency Law: Principles, Rescue and Reconstruction Processes

This information is for the 2019/20 session.

Teacher responsible

Ms Sarah Paterson


This course is available on the LLM (extended part-time), LLM (full-time), MSc in Law and Accounting and University of Pennsylvania Law School LLM Visiting Students. This course is available with permission as an outside option to students on other programmes where regulations permit.

This course will be relevant to the following LLM specialisms: Corporate and/or Commercial Law. This course is capped at 30 students. Students must apply through Graduate Course Choice on LSE for You.

Course content

This course focuses on registered companies and is concerned with the use of formal legal procedures to rescue financially distressed companies and businesses. US, UK and European law procedures and inititatives are examined. Topics include: rescuing the business and assets of a company as a going concern; restructuring and small companies; restructuring and large companies; the reform agenda; and theory of rescue and restructuring.


20 hours of seminars in the LT. 2 hours of seminars in the ST.

The format is interactive seminar discussion. Week 6 will take the form of a reading week.

Formative coursework

One 1,500 word essay.


Indicative reading

A full Reading List will be distributed during the course. The recommended text is V. Finch and D. Milman, Corporate Insolvency Law: Perspectives and Principles (Cambridge University Press, 2009) (3rd edition). Wider background reading will include some comparative law reform and other material including: The Report of the Review Committee on Insolvency Law and Practice (Cork Report) (Cmnd 8558, 1982); T H Jackson, The Logic and Limits of Bankruptcy Law, Harvard (1986).


Exam (100%, duration: 2 hours, reading time: 15 minutes) in the summer exam period.

Key facts

Department: Law

Total students 2018/19: 38

Average class size 2018/19: 37

Controlled access 2018/19: No

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Communication
  • Specialist skills