Hi,
THIS EXAM FROM ONLY ONE SOURCE WHICH IS ( A Global View of Business Insolvency Systems, Jay Lawrence Westbrook, Charles Booth, Christoph Paulus & Harry Rajak, 2010 )
IF YOU DO NOT HAVE THIS BOOK PLEASE LET ME KNOW AND REFOUN MY MONEY….

I have take home exam with the subject (Comparative Insolvency Law) and it is worth 100% for 6 questions. Also, this exam needs(ONLY ONE SOURCE) and it is not acceptable to do further research. This book is ( A Global View of Business Insolvency Systems, Jay Lawrence Westbrook, Charles Booth, Christoph Paulus & Harry Rajak, 2010 ). I am not sure that book is available online or not.

NOTE: please do not repeat the questions.

THE EXAM: Where requested, please try to draw comparisons from the text and offer your analysis of the material.

1. A. Explain the difference between a fixed charge and a floating charge in the United Kingdom. Please discuss the types of collateral that each type of charge extends to, the level of protection it offers the creditor holding the charge, and the level of priority under non-insolvency law and insolvency law in the United Kingdom. [5 points]
B. Given your answer in Part A above, in your view, under US Article 9 secured transactions law and the US Bankruptcy Code, is a security interest in the United States treated more or less favourably than a fixed or floating charge under UK law? [5 points]
2. Explain how Asset Management Companies (AMC’s) are used as mechanisms to assist with bank and corporate restructuring. In your answer, discuss at least one example from Asia. [5 points]
3. First Manufacturing Co (FMC) manufactures furniture. Broadway Bank (BB) lent $10,000 to FMC in January 2010 on an unsecured basis. In February 2010, Stan Smith (SS), one of the directors of FMC lent FMC $20,000, also on an unsecured basis. FMC began experiencing financial difficulties in March 2010 and realized that it was unable to repay its creditors in full. Nevertheless, it repaid SS’s loan in full on March 20, 2010 (although the loan was not actually due and payable until June 2010). FMC defaulted on BB’s loan in October 2010. BB sued FMC, got a judgment and enforced the judgment against FMC in December 2010. In January 2011, FMC filed an insolvency petition.
A. Assume that FMC is a debtor under the US Bankruptcy Code. Please advise the trustee in bankruptcy as to any possible preference actions and whether you think that he will be successful. [5 points]
B. Assume that FMC is a debtor under the HK Companies Ordinance. Please advise the liquidator as to any possible preference actions and whether you think that he will be successful. [5 points]
4. ?Secured creditors should be bound by the automatic stay in a corporate insolvency.? Do you agree or disagree with this statement? Please explain in the context of liquidation, formal restructuring and out-of-court restructuring regimes (with reference to the London Approach and its variations) and offer examples from various jurisdictions in support of your view. [25 points]
5. Two students from our class were overheard discussing the appropriate treatment of workers in corporate insolvencies. Student A said: ?Workers deserve special protection in insolvency cases in the form of priority ahead of secured creditors.? Student B said: ?I disagree. Workers should be treated no better or worse than other unsecured creditors.? How do you think workers should be treated? Do you agree with Student A? Student B? Neither? Please explain why. In your answer, please provide examples from various jurisdictions in support of your view. [25 points]
6. Country X is in the midst of reforming its formal corporate insolvency laws and is trying to decide whether to adopt (1) a US debtor-in-possession approach in which the debtor’s management continues to operate the company during the corporate reorganization or (2) a British-style system in which an outside administrator (an independent lawyer or accountant) is appointed to run the company. You have been asked to provide some guidance to the law reform commission to assist them with their decision. Which approach do you recommend and why? In your answer, set out three of the main advantages and disadvantages of each approach. In addition, please discuss whether there is any further information that you would like to request about Country X to assist you in making your decision. [25 points]

End of Exam