1. "The moratorium is the most powerful tool for a company in difficulties. However a fair balance must be achieved between the protection of the company and the protection of the interests of creditors, in particular secured creditors."

2. "The prepack approach is dominant in cases of corporate insolvency. However greater controls are needed to reduce the harm that prepackscause to the interests of creditors and to givemore companies a chance of rescue."

3. Critically discuss the administrative receivership procedure, the reasons for its reform and its continued role.

The assessment will be by way of an essay (5000 words maximum). The word limit must not be exceeded. It is a maximum and, whilst it is anticipated that you will need to use roughly this number of words it is not necessary to use precisely 5000 words, and you may be able to answer the question in less.