LLM Programme

The taught modules offered on the LLM programme vary from year to year. Please check the full list of taught modules list for details of modules running in specific academic years. We make every effort to ensure that every module will be offered, but modules are subject to change and cancellation. You are therefore advised to check this site regularly for further updates throughout the year preceding entry to the LLM programme.

Credit value: 15 credits (6 ECTS)
Module Convenor: Andrew Wilkinson Other Teachers: N/A


Since the collapse of Lehman in 2008, Europe has been in the grip of a financial crisis, with economies suffering from weak growth and overindebtedness. Banks, countries and corporates are undertaking financial restructuring. This half module will focus on corporate debt restructuring, a rapidly developing area of law and business. It will consider how Europe’s distressed companies are restructured.

The outcome of restructuring is of great significance to economies in Europe, the provision of jobs and growth prospects. The UK is the main centre for corporate restructuring in Europe because of the prevalence of English Law in debt documents, and the use of English law court processes, such as schemes of arrangement for corporates across Europe- even those with little business connection to the UK.

A general interest in business and the financial environment across Europe is important for this module. If you have not found the financial crisis interesting, this is not the module for you!


  • Introduction to Financial Restructuring
  • Insolvency and Entering Into a Restructuring
  • Directors' Duties during Restructuring
  • Private and Public Company Restructurings
  • The Court Process
  • Pensions
  • Bank Debt Issues
  • Bondholder Issues
  • Jurisdiction Issues
  • Case Studies

Background Reading (optional):

The following titles are reference books that will be referred to during the seminar. Students will not need to have read all titles, but will be given a detailed reading list for each topic at the beginning of term.

(1) Goode, Principles of Corporate Insolvency Law, 4th ed, Sweet & Maxell 2011
(2) Goode, Commercial Law, 4th ed Penguin
(3) P Wood, Principles of International Insolvency, 2nd ed, Sweet & Maxwell 2007
(4) Debt Restructuring, 2010 OUP
(5) The Law and Practice of Restructuring, 2011 OUP
(6) Treitel, The Law of Contract, 13th ed, Sweet & Maxwell 2007
(7) Mortimore, Company Directors: Duties, Liabilities and Remedies, 2008 OUP
(8) Ferran, Principles of Corporate Finance Law, 2008 OUP
(9) B McFarlane, The Structure of Property Law (Hart, 2008)
(10) Gower & Davies, Principles of Modern Company Law, 8th ed, Sweet Maxwell 2008
(11) Cross-Border Insolvency, 2011 Bloomsbury Professional
(12) Look Chan Ho, Cross Border Insolvency, 2009 Global Business Law
(13) Restructuring Law and Practice, Howard and Hedger, 2nd ed. Butterworths
(14) Schemes of Arrangement, O’Dea and others, OUP

Module reading lists and other module materials will be provided via online module pages, once students have made their module selections upon enrolment in September.

Delivery and enrolment
Lectures/Seminars: 10 x two-hour seminars
Tutorials: Yes
Previous module enrolments: Medium – 16-50 students
Who may enrol: LLM students, other UCL Masters students
Prerequisities: None, though students may find it helpful having taken Corporate Insolvency I (LAWSG090)
Barred module combinations: None
Core Module for LLM specialism: Corporate Law, International Commercial Law
Final Assessment: 2-hour unseen written examination
Practice Assessment: Opportunity for feedback on one written piece of practice assessment

This page was last updated on 31 July, 2014


The application process for the 2015-16 academic session is now open.

Please note, for the 2015-16 intake, we are not accepting the TOEFL test. If you have an English condition to meet, you must take one of the alternative tests listed here instead.