Instructions:

Answer the following questions, citing relevant legal authorities (law and cases) in support of your answer. Answers not supported by any legal authorities will not receive any credit.

Legal problem-solving questions must be answered using the IRAC (Issue, Rule, Application and Conclusion) method taught in class.

Reference sources must be cited in the text of the report (either in-text or footnotes, AND listed appropriately at the end of the assignment in a Reference List following the AGLC (Australian Guide to Legal Citation) style.

Failure to cite references when reproducing the work of someone else without attribution amount to plagiarism. Please read the attached Academic Integrity Policy for further guidance.

All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.

Word counts for each answer are indicated after the question. Word count limits are strictly enforced. A deduction of two (2) marks will be imposed for every 50 words over the word count for either part of the report. Anything over the word count will not be read by your lecturer.

Question 6 (7 marks)

A company has got itself into some significant difficulties financially and it has been put into voluntary administration. In the company, there are still some substantial assets or possibly some intangibles such as: goodwill, trademarks, customer connections and other matters that could mean that the company might survive with some good management. What should the company do?

(Maximum 175 words)