Admission requirements
None
Description
In the wake of the global economic crisis of the past few years there is an increased attention for companies in financial distress in society. Large listed corporations undoubtedly capture the limelight and of course attract the imagination of media, but several thousand small and medium enterprises (SME’s) also find themselves in financial distress every year. In most cases there was the opportunity to pre-emptively intervene through what is called turnaround management. However, in current day practice an already insolvent company will most likely enter into formal bankruptcy proceedings and in a worst case scenario be liquidated. So why does one particular rescue attempt succeed while others fail miserably? What are the critical factors of success in turning a company around and where are the pitfalls? How can early warning mechanisms be used to prevent organizational decline in the first place? What is the role of each individual stakeholder within this process? What is the theoretical foundation of bankruptcy law and how does it work in practice? These are only a few of the questions that will be addressed in the challenging and exciting course Turnaround Management & Bankruptcy Law (TMBL).
In this course the problematic nature of companies in financial distress as in current day bankruptcy practice will be discussed through a multidisciplinary approach where both business economic and legal aspects of financial distress and bankruptcy are placed in the limelight. Through case studies derived from both theory as international practice a better insight into financial distress will be gained.
Stakeholders are confronted with all kinds of problems when attempting to rescue companies in financial distress and keeping it going concern. The problematic nature of the survival of companies in financial distress is located within the field of Insolvency Law & Business Studies.
Course objectives
By the end of this course students will be able to:
Demonstrate the ability to read, evaluate and interpret company-related information in order to identify and explain the nature of business failure.
Formulate a well-organized assessment of a turnaround plan supported by evidence.
Apply the necessary scientific principles and practical tools to help solve a complex turnaround situation.
Demonstrate the ability to identify and help solve complex lending-issues in turnaround situations.
Communicate effectively with stakeholders in turnaround or bankruptcy situations.
Explain the legal concept of insolvency, the scope and types of insolvency proceedings.
Apply legal principles and tools to solving complex bankruptcy-related issues.
Practice professional behaviour necessary to solve time-pressured high-stake turnaround situations, i.e. to be a self-reliant, problem-solving team-player.
Timetable
The timetable of this course can be found in uSis
Mode of instruction
This course offers 7 lectures of 4 hours each. In the lectures a combination of classical lecturing (‘hoorcollege’) is combined with practical workshop (‘werkgroep’) elements.
The prescribed compulsory study materials for each week are presented below in the weekly programs. All the content of the lectures is part of the examination, students are therefore strongly recommended to be well prepared in advance of each session.
During the lectures discussions will be based upon the weekly defined subjects. Students should bring cases to class, either in print or in digital form. Case material will be actively used during the seminars. We strongly urge students to bring either their laptop or tablet to the seminars.
Assessment method
The course will result in a final, written exam and an assignment. The exam grade will count for 70% in the final grade. The assignment will count for 30%.
All the content of the lectures is part of the examination, together with the compulsory study materials indicated on Blackboard and the course manual.
Blackboard
More information on this course is offered in Blackboard
Reading list
Obligatory course materials
Literature:
- Will be announced via Blackboard.
Course information guide:
- Will be announced via Blackboard.
Reader:
- Will be announced via Blackboard.
Registration
Students have to register for courses and exams through uSis
Contact:
Co-ordinator: prof. dr. mr. J.A.A. Adriaanse
Work address: Steenschuur 25, room B3.14
Contact information: by appointment
Telephone number: 071 – 527 7851
h3.Instituut/afdeling
Institute: Tax Law and Economics
Department: Business Studies
Room number secretary: B3.11
Opening hours: Monday – Friday 09.00 – 17.00h
Telephone number secretary: 071 – 527 7851
Contractonderwijs
Anyone interested in registering for this course as part of a Contractual Programme (Contractonderwijs), which includes examination, will find further information regarding costs, application and registration, conditions etc. on the website of Juridisch PAO (Legal postgraduate education). Take notice of the admission requirements.