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CLL806Law3 Unitsintermediate

LAW OF SECURED CREDIT TRANSACTIONS II

This course delves into the intricacies of secured credit transactions, building upon foundational knowledge from the first semester. It explores principles of corporate debt finance, including corporate borrowing powers and debenture trust deeds. The course examines charges under CAMA, differentiating between fixed and floating charges, and addresses corporate insolvency mechanisms such as administration, receivership, and liquidation. It also covers collateral security, Islamic finance principles, and secured transactions in agribusiness.

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208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

Secured CreditCorporate DebtDebenturesInsolvencyCharges

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Corporate Borrowing

2

Debentures

3

Charges

4

Fixed Charge

5

Floating Charge

6

Corporate Insolvency

7

Receivership

8

Company Voluntary Arrangement

9

Administration

10

Liquidation

Total Topics10 topics

Requirements

Knowledge and skills recommended for success

Basic understanding of contract law

Basic knowledge of company law

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Corporate Lawyer

Apply your skills in this growing field

Insolvency Practitioner

Apply your skills in this growing field

Credit Analyst

Apply your skills in this growing field

Loan Officer

Apply your skills in this growing field

Compliance Officer

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

BankingFinanceLegal ServicesDebt RecoveryCorporate Restructuring

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Principles of Corporate Debt Finance

6h

Unit 1: Corporate Borrowing Powers

3 study hours

•Explore the dynamics of corporate power with respect to borrowing.
•Understand the statutory provisions governing corporate borrowing powers.
•Analyze case studies related to corporate borrowing.

Unit 2: Implications and Consequences of Corporate Debt

3 study hours

•Examine the collateral effects of corporate debt on company operations.
•Discuss the consequences of corporate borrowing, including corporate governance and security interests.
•Analyze the implications of corporate debt, such as insolvency and business rescue.

Week

2

Module 1: Principles of Corporate Debt Finance

6h

Unit 3: Key Terms in Corporate Debt

3 study hours

•Define and explain conditions, representations, and warranties in corporate debt transactions.
•Discuss affirmative and negative covenants in loan agreements.
•Understand repayment terms, interest calculations, and events of default.

Unit 4: Capital Maintenance Regime

3 study hours

•Discuss capital maintenance rules and their significance.
•Explain the concept of legal capital and its preservation.
•Analyze the control test in capital maintenance.

Week

3

Module 2: The Debenture

6h

Unit 1: The Nature of Debenture

3 study hours

•Define and discuss the nature of debentures.
•Explain the nature of interest created by debentures.
•Identify the statements contained in an instrument of debenture.

Unit 2: Debenture Trust Deed

3 study hours

•Explain the basis of constituting a trust for debenture holders.
•Identify the three certainties of a trust.
•Discuss the contents of a debenture trust deed.

Week

4

Module 2: The Debenture

6h

Unit 3: The Debenture Trustee

3 study hours

•Explain the qualifications of a debenture trustee.
•Discuss the duties, powers, and liabilities of a debenture trustee.
•Identify situations where a trustee can be excused from liability.

Unit 4: Rights and Remedies of Debenture Holders/Trustees

3 study hours

•Identify the statutory rights of debenture holders as creditors.
•Explain the extent of protection afforded to creditors by these rights.
•State the remedies available to debenture holders.

Week

5

Module 3: Secured Credit under CAMA 2020

6h

Unit 1: Charge as a security interest

3 study hours

•Define charge as a form of security interest.
•Explain the nature of charge.
•State the different types of charges.

Unit 2: Types of Charge – Fixed charge

3 study hours

•Explain fixed charge.
•Discuss the categorization of fixed charge: as-created fixed charge and contingent specific charge.

Week

6

Module 3: Secured Credit under CAMA 2020

4h

Unit 3: Types of Charge – Floating charge

4 study hours

•Gain an in-depth understanding of floating charge.
•Know the conditions leading to crystallization of floating charge.
•Distinguish between fixed charge and floating charge.

Week

7

Module 3: Secured Credit under CAMA 2020

4h

Unit 4: Distinction Between Fixed Charge and Floating Charge

4 study hours

•Know the tests for determining the differences between a fixed charge and a floating charge.
•Explain the tests and apply them in a practical context.

Week

8

Module 3: Secured Credit under CAMA 2020

4h

Unit 5: Interests Capable of Creation under CAMA 2020

4 study hours

•Know the various species of interests which a company can create for purposes of securing the payment of money it borrowed for its business.

Week

9

Module 4: Corporate Insolvency

4h

Unit 1: Introduction to Corporate Insolvency

4 study hours

•Give a brief history of insolvency.
•State the theories that underpin insolvency regime.
•Explain the different types of insolvency.
•Apply the approaches to insolvency in practical situations.

Week

10

Module 4: Corporate Insolvency

4h

Unit 2: Company Voluntary Arrangement

4 study hours

•Know the meaning and application of company voluntary arrangement as an insolvency process aimed at rescuing the company and restoring its going concern situation.

Week

11

Module 4: Corporate Insolvency

4h

Unit 3: Administration

4 study hours

•Explain the concept of company administration as a hybrid insolvency process.
•Gain a brief history of company administration.
•Discuss the objectives or purposes of company administration.
•Discuss the process of placing a company in administration.

Week

12

Module 4: Corporate Insolvency

4h

Unit 7: US Chapter 11 Procedure

4 study hours

•Gain an insight into the US insolvency approach and thus be able to distinguish between the Nigerian and US approaches.

Week

13

Module 4: Corporate Insolvency

8h

Unit 8: The Insolvency Practitioner

4 study hours

•State who is an insolvency practitioner.
•Apply and get accredited as insolvency practitioner.

Unit 4: Receivership

4 study hours

•Understand the concept of receivership.
•Explain the nature of receivership as an insolvency approach.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create concept maps linking Modules 1-3 secured credit concepts

2

Practice distinguishing between fixed and floating charges using case studies from Units 2-4

3

Focus on understanding the steps and legal requirements for each insolvency procedure (Units 1-8 Module 4)

4

Review key definitions and legal provisions from CAMA 2020 related to secured credit and insolvency

5

Practice applying legal principles to hypothetical scenarios involving corporate debt and insolvency

6

Allocate study time evenly across all modules, focusing on areas of weakness identified in TMAs

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