City Colleges - Personal Insolvency Practitioner Certificate 2013 Weekend Course Outline Session & Date
Session 1: Friday, 1 November Introduction to Personal Insolvency
Time
Module No. & Module Title
Detail of Module
Learning Outcome
6 –6.30pm
Course Introduction
Induction & Orientation
On successful completion of this module, participants will:
6.30 – 7.30pm
(1) An Overview of PIA 2012
A brief overview of the Personal Insolvency Act 2012; the role of the Insolvency Service of Ireland; the role of the PIP and the impact of the Act.
Have an understanding of the Personal Insolvency Act 2013 and its impact on insolvency practice in Ireland.
7.45 – 9.00pm
(2) The Role of the PIP
Aim and Obligations of PIP Advising Debtors; Providing Information to Debtors; Analysing Debtors Information; Appointment; PFS; Aftermath
Have a comprehensive understanding of the role of a Personal Insolvency Practitioner
9 - 10pm
(3) Obligations of PIP in relation to PFS
- Aiding the Debtor in Completing PFS - Completing the statement in respect of the debtor - Requirements to keep up-to-date and inform ISI of changes to PFS -Ethical Considerations
Have a comprehensive understanding of the obligations of a Personal Insolvency Practitioner in relation to the Debtor’s PFS.
Session 2: Saturday 2 November Financial Aspects of PIP’s Role
Session 3: Friday 8 November Practical Aspects of PIPs Role (Part I)
10am-12pm
(4) Introduction to Financial Considerations
- Determining the nature and extent of debts owed - Reviewing accounts: - Understanding income and expenditure accounts - Understanding assets and liabilities
Understand how to analyse the financial documents of a Debtor.
12 – 1pm
(5) Legislation Overview: Commercial, Banking and Bankruptcy
Have a comprehensive understanding of the relevant commercial, banking and bankruptcy legislation.
2pm - 3pm
(6) An Economic Overview and the UK Experience
Understand the personal insolvency trends in the UK, the Impact of the IVA in UK and the economic impact of insolvency legislation in Ireland
3pm – 4pm
(7) Debtor Finances: -Calculating Reasonable Living Expenses -Asset and Liability Valuation
Understand how to calculate reasonable living expenses. Be able to carry out a valuation of assets and liabilities.
4pm – 5pm
Case Study – dealing with finances
Using the ISI case studies, practice financial elements of PIP role.
Be able to practically carry out a financial assessment of a Debtor.
6pm – 7.45pm
(8) The Arrangements
-Full outlines of the components of DRN, DSA and PIA -Understand varieties of debt -Creditors and Debtors rights - Understand the varying arrangement procedures
Have an ability to compare and contrast the arrangements. Be able to recommend the appropriate arrangement for a debtor.
8pm -9pm
(9) Creditors’ Meetings
-How to prepare for Creditors’ meeting -Voting at Creditors meetings
Have a comprehensive understanding of the procedural aspects of a creditors’ meeting.
9pm – 10pm
(10) Ethics
The ethical role of the PIP
Understand the ethical principles that apply to a PIP.
Session 4: Saturday 9 November Practical Aspects of PIP’s Role (Part II)
10am-11am
(11) The Role of the Courts in Insolvency
The role that PIP will be required to fulfil in Court in relation to the arrangements
Have a practical knowledge of the court procedure involved in the insolvency process.
11am – 12pm
(12) Debt Mediation
- Mediation Process - Dealing with Distressed Clients
Have a clear understanding of the role mediation can play in the insolvency process and understand the procedure involved in mediation.
12pm-1pm
(13) The Psychology of Indebtedness
2pm - 3pm
(14) PIPs interaction with Creditors
Have a comprehensive understanding of the psychological impact of debt and insolvency. - Categories of creditors - Challenges to creditors - Protections for creditors - Engaging with creditors - Negotiating with Creditors - Collaborating with creditors
Have a comprehensive understanding of the role of a creditor in the insolvency procedure. Be able to engage and negotiate with creditors
3pm-4pm
(15) Overview of Corporate Insolvency
- Liquidations - Receiverships - Examinership
Understand the different forms of corporate insolvency enable PIP to explain how corporate insolvency may impact upon a debtor’s financial position.
4pm-5pm
(16) Debtor Default
- Different types of security - Enforcement options available - Ways which default may occur - Role of ISI when default occurs
Have a comprehensive understanding of the enforcement options which may be invoked if a debtor defaults.
Session 5: Friday 15 November Legal Components of PIPs Role
6 -7pm
(17) Introduction to Irish Legal System
- The Courts - Legal Personnel - Sources of Law
Have a sound grasp of the most important elements of the Irish legal system.
7 -8pm
(18) Overview of insolvency practice in Ireland
8.15 -9pm
(19) Impact of PIA on related Legislation: -Consumer Credit Acts - NAMA - Companies Acts -Bankruptcy Acts -Land and Conveyancing Reform Act 2009 -Act -Civil Partnership Act - Family Home Protection Act
Informed as to how the insolvency process will be impacted upon be relevant legislation.
Understand the impact of specified legislation on the insolvency process.
9 -10pm
(20) Basic Court procedure and advocacy
- Basic Advocacy - Outline of court officers functions - methods of putting forward an application for relief
Be able to carry out an application for relief.
Have a comprehensive understanding of insolvency practice in Ireland.
Session 6: Saturday 16 November PIP as a practice
Session 7: Friday 22 November Additional Matters for PIP
10-11am
(21) Fitness and Probity (Ethics part II)
The ethical role of the PIP with due regard for the recent Fitness and Probity Regime which the Central Bank of Ireland introduced
Understand the Fitness and Probity regime
11-12pm
(22) The Business of becoming a PIP
- fees - indemnity insurance - advertising - testimonials - supervision
Have an in-depth and practical knowledge of the practical elements involved in becoming a PIP.
12-1pm
(23) Setting up a Personal Insolvency section in your practice/organisation
Be able to create a personal insolvency department within your company, practice or organisation.
2 - 3pm
(24) Dealing with the Official Assignee
Be able to comprehensively deal with the official assignee in bankruptcy.
3 – 4pm
(25) Handling Funds & Related Matters
- the special position of Barristers in relation to handling funds
Understand the ramifications and potential liabilities arising from the handling of funds.
4 – 5pm
(26) Tax analysis
- taxation implications for the debtor - awareness of relevant taxes - tax implications in respect of debts written off
Be able to advise on the debtor’s tax position and impact of taxation.
6-7pm
(27) Role of ISI and the PIP; interacting with ISI
- PIP and ISI - Certifying DRN - Certifying DSA and PIA - Guidelines
Have an in-depth and comprehensive knowledge of the role of the ISI and the interaction of the ISI with the PIP.
7-8pm
(28) Pensions
Understand the implication of pension assets on debtor’s finances.
8.15-9pm
(29) Overview of Repossession Case Law
Have a comprehensive understanding of repossession law to enable the PIP to advise a debtor.
9 - 10pm
(30) Family Home/ Divorce – Separation
- mortgage - family home protection - dealing with separation/divorce and insolvency
Have a comprehensive understanding of the impact of insolvency on a mortgage, the family home, separation and divorce to enable the PIP to advise a debtor.
Session 8: Saturday 23 November Case Studies and Exam Preparation
10am-11am
Case Studies
How to communicate with Debtors and Creditors?
Understand how to best communicate with debtors and creditors
11am – 12pm
Case Studies
How DSA and PIA will work in practice?
Understand how the DSA and PIA will work in practice
12pm-1pm
Case Studies
Preparing a statement of Estimated Outcome
Understand how to prepare a statement of estimate outcome
2pm - 3pm
Examination Preparation
3pm – 4pm
Examination Preparation
4pm – 5pm
Examination Preparation
Sat V - Examination: The examination will require candidates to answer three questions. Candidates must answer the compulsory question from Part A. Part B will contain a choice of 5 questions and candidates must answer two. These questions will be based on topics from across the course.
