LL4AK      Half Unit
Principles of Corporate Insolvency Law

This information is for the 2023/24 session.

Teacher responsible

Professor Sarah Paterson


This course is available on the LLM (extended part-time), LLM (full-time) 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 has a limited number of places and demand is typically high. This may mean that you’re not able to get a place on this course.

Course content

This course is concerned with the principles and policies underlying the realisation and distribution of a company’s assets in an insolvency. The impact of these principles on third parties such as corporate groups, secured and unsecured creditors, directors, and employees, is also considered. Topics include:corporate governance in distress; corporate insolvency law theory;  the distributional order of priority in insolvency; distribution and corporate groups; protecting unsecured creditors; setting aside transactions and European and international recognition of insolvency proceedings.


This course will have 20 hours of teaching in the Winter Term and two hours in the Spring Term. There will be a Reading Week in Week 6 of Winter Term.

Formative coursework

One 1,500 word essay.

Indicative reading

A full Reading List will be distributed during the course. For introductory purposes students are directed to V. Finch and D. Milman, Corporate Insolvency Law: Perspectives and Principles (Cambridge University Press, 2017) (3rd edition).


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

Key facts

Department: Law School

Total students 2022/23: 25

Average class size 2022/23: 25

Controlled access 2022/23: Yes

Value: Half Unit

Guidelines for interpreting course guide information

Course selection videos

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Personal development skills

  • Communication
  • Specialist skills