FE1 Exam Thread (Read 1st post!) NOTICE: YOU MAY SWAP EXAM GRIDS

RebeccaM90

Has anyone doing the fe1 exams done the preliminary exams ?

Bayb12

cup of tea wrote: »

Has anyone found out how to pay for the exams online? Trying to find the link for feels like doing a Fe1 question itself! All I see is a phrase saying payment online available in certain situations but I don't see a link unless I'm blind.

If you applied previously you can transfer it to their bank account but email first in case.

tobeginbegin

Does anyone have a grid of EU case notes and/or constitutional case notes? thank you

Rebelgirl87

RebeccaM90 wrote: »

Has anyone doing the fe1 exams done the preliminary exams ?

Majority of people don't have to sit this exam as they already have degrees from either lreland or the UK. People who have met the required standard of experience should they not hold a degree are also exempt from this exam. Best of luck to you if you are sitting it.

Redo91

Hi all. I hope the study is going well.

For those of you that have sat Company before do you think I would be crazy to leave out receivership, examinership and winding-up? They take up a good chunk of my manual but according to the grid I have they don't come up often. Realisation of corporate assets is a frequent topic but would I be right in saying the relevant chapter for that would be the "Disribution of Corporate Assets on a Winding-Up"?

Thanks in advance for any help!

hullaballoo

You would be mad to leave out winding up. It's conceptually very straight-forward and it's pretty much on every company law exam ever. Realisation of corporate assets is what a liquidator does while winding up a company. It's the main focus of his job, aside from the various bureaucratic reporting obligations.

Yoop

Redo91 wrote: »

Hi all. I hope the study is going well.

For those of you that have sat Company before do you think I would be crazy to leave out receivership, examinership and winding-up? They take up a good chunk of my manual but according to the grid I have they don't come up often. Realisation of corporate assets is a frequent topic but would I be right in saying the relevant chapter for that would be the "Disribution of Corporate Assets on a Winding-Up"?

Thanks in advance for any help!

I definitely wouldn't leave out all of them; two of them came up together when I sat the exam. Receivership is a pretty straightforward chapter and there's relatively little caselaw for Winding Up; most of what you need is in the legislation.

Redo91

Thanks for the replies! I guess my grid is wrong then! It has the realisation of corporate assets question coming up regularly but liquidators hardly ever does according to it. Would I be ok if I did the chapter on winding-up as well as the one on realisation of corporate assets then?

hullaballoo

I'm a bit confused - the realisation of corporate assets is a part of winding up. Are you confusing the distribution of corporate assets with the realisation of same?

They are different animals altogether. The distribution part is the very last part in the process by the liquidator, whereas the realisation part is basically what the liquidator's job is from the outset after her/his appointment by resolution or the Court.

RebeccaM90

Rebelgirl87 wrote: »

RebeccaM90 wrote: »

Has anyone doing the fe1 exams done the preliminary exams ?

Majority of people don't have to sit this exam as they already have degrees from either lreland or the UK. People who have met the required standard of experience should they not hold a degree are also exempt from this exam. Best of luck to you if you are sitting it.

Thank you. I'm preparing to sit them in March so fingers crossed.

Redo91

hullaballoo wrote: »

I'm a bit confused - the realisation of corporate assets is a part of winding up. Are you confusing the distribution of corporate assets with the realisation of same?

They are different animals altogether. The distribution part is the very last part in the process by the liquidator, whereas the realisation part is basically what the liquidator's job is from the outset after her/his appointment by resolution or the Court.

Ya sorry I think I am. Basically on my grid there is a topic called "The realisation of Corporate Assets". On my grid it's separate to the one on Liquidators.

When I looked at the chapters in my manual the only one I could see that was similar to the former was "Distribution of Corporate Assets on a winding up". Since the chapter on "Winding-up" (which I presumed corresponded to the topic liquidators on my grid which never appeared to come up) was so vast I hoped to leave it out if possible. The chapter on distribution of assets is far shorter and I thought it came up far more frequently so I was going to do that and leave out the chapter on winding up.

I hope I've explained myself a bit better. Do you think I should do the chapter on winding up then and leave distribution of assets out?

Thanks again for your help. It's much appreciated.

Hunchback

hullaballoo wrote: »

I'm a bit confused - the realisation of corporate assets is a part of winding up. Are you confusing the distribution of corporate assets with the realisation of same?

They are different animals altogether. The distribution part is the very last part in the process by the liquidator, whereas the realisation part is basically what the liquidator's job is from the outset after her/his appointment by resolution or the Court.

This is more of a question than anything -

Can realisation of assets occur when a company is in examinership, where the objective is that the company will be rescued and will continue to trade? So, some of the assets will be realised but the company might not necessarily be wound up?
I.e. - could the chapter include examinership?

hullaballoo

Redo91 wrote: »

Ya sorry I think I am. Basically on my grid there is a topic called "The realisation of Corporate Assets". On my grid it's separate to the one on Liquidators.

When I looked at the chapters in my manual the only one I could see that was similar to the former was "Distribution of Corporate Assets on a winding up". Since the chapter on "Winding-up" (which I presumed corresponded to the topic liquidators on my grid which never appeared to come up) was so vast I hoped to leave it out if possible. The chapter on distribution of assets is far shorter and I thought it came up far more frequently so I was going to do that and leave out the chapter on winding up.

I hope I've explained myself a bit better. Do you think I should do the chapter on winding up then and leave distribution of assets out?

Thanks again for your help. It's much appreciated.

Yes, the realisation of corporate assets is a sub-set of winding up, so your manual does not have as a discrete chapter heading "realisation of corporate assets" but will cover the topic within the chapter on winding up.

Some books do have discrete chapters on the realisation of corporate assets since it is, in practice, the most valuable information for liquidators and their representatives. It includes the likes of unfair preferences (formerly fraudulent preferences) and fraudulent disposals and recovery of such assets from recipients. It also covers things like the sale of property and the duties the liquidator owes to various stakeholders in relation to such sales, depending on the type of winding up.

If you do not already have a copy, I would highly recommend borrowing a copy of Thomas Courtney's book - the latest edition deals fully with the 2014 Act.

If that is not possible or if you are determined to stick like glue to the manuals, which is totally fair enough if you are under pressure, feel free to ask me here and I will do my best to guide you in the right direction. (You will note from my previous replies here that I do not give out full answers, more pointers and ideas for solving problems. That is because no one here has yet offered to pay me! )

In relation to leaving out distribution, I really wouldn't. It's pretty cut-and-dried now because it's dealt with by the Companies Act 2014 and it's just a matter of referring to the section in the exam. I mean, I suppose you could get away with leaving it out of your study plans but I wouldn't shy away from a question that deals partly with distribution because everything you need to answer that part will be right there in front of you.

Hunchback wrote: »

This is more of a question than anything -

Can realisation of assets occur when a company is in examinership, where the objective is that the company will be rescued and will continue to trade? So, some of the assets will be realised but the company might not necessarily be wound up?
I.e. - could the chapter include examinership?

No, realisation of corporate assets is not to be confused with selling company property to satisfy a debt. It's an entirely different concept and arrangement.

Redo91

hullaballoo wrote: »

Yes, the realisation of corporate assets is a sub-set of winding up, so your manual does not have as a discrete chapter heading "realisation of corporate assets" but will cover the topic within the chapter on winding up.

Some books do have discrete chapters on the realisation of corporate assets since it is, in practice, the most valuable information for liquidators and their representatives. It includes the likes of unfair preferences (formerly fraudulent preferences) and fraudulent disposals and recovery of such assets from recipients. It also covers things like the sale of property and the duties the liquidator owes to various stakeholders in relation to such sales, depending on the type of winding up.

If you do not already have a copy, I would highly recommend borrowing a copy of Thomas Courtney's book - the latest edition deals fully with the 2014 Act.

If that is not possible or if you are determined to stick like glue to the manuals, which is totally fair enough if you are under pressure, feel free to ask me here and I will do my best to guide you in the right direction. (You will note from my previous replies here that I do not give out full answers, more pointers and ideas for solving problems. That is because no one here has yet offered to pay me! )

In relation to leaving out distribution, I really wouldn't. It's pretty cut-and-dried now because it's dealt with by the Companies Act 2014 and it's just a matter of referring to the section in the exam. I mean, I suppose you could get away with leaving it out of your study plans but I wouldn't shy away from a question that deals partly with distribution because everything you need to answer that part will be right there in front of you.



No, realisation of corporate assets is not to be confused with selling company property to satisfy a debt. It's an entirely different concept and arrangement.

Thanks for clearing that up. I guess I'll have to bite the bullet and just cover it. Last thing I want to do is leave myself short.

Due to time constraints I will be sticking solely to the manual. I'm sitting this and Constitutional which are my last two. I know there are plenty of people sitting 4 or more but even then I'm beginning to panic already! You'd think I'd be used to it by now! :P My hope was to have my notes finished 4 weeks before my first exam. It will probably be 3 weeks now especially since I'll be covering winding up and it's a large topic. On the plus side there are 8 days between my two exams so it could be worse. I'll probably be fine but I'm just fretting a bit because both courses are quite large.

Thus far my approach to these exams (again due to time constraints) is to solely cover the manuals. If I come across any areas that are a bit sparse on case law however I do go to the library and pick up a text book so I can flesh out my notes a bit so to speak.

Thanks so much again for you're help! I'll probably be bothering you again between now and March! I'm afraid I can only pay you in gratitude as I left my job to focus on getting these exams out of the way! :P

MarySmyth

Exams March 2017

Do we know where exams will be this year?

Rebelgirl87

MarySmyth wrote: »

Exams March 2017

Do we know where exams will be this year?

Exams are held in the Red Cow Moran Hotel every year.

MarySmyth

I can't see where is cheapest place to buy legislation - any guidance

binkevii

Hi, what do you expect for the Contract paper on March?

Yoop

MarySmyth wrote: »

I can't see where is cheapest place to buy legislation - any guidance

I bought the 2014 Companies Acts from Amazon for £68 (think it was about €99 at the time). I had the rest from college so I'm not sure where is the best value although I think Amazon have a good range of prices from different sellers, new and used.

You should also contact the Office of Public Works; ring or email them with what you're after and they'll give you prices.

Definitely stay away from Easons; atrociously expensive for legislation.

lawbee3

ak4321 wrote: »

Anyone else leave it last minute to apply and now can't find the link to do so online? Any guidance would be greatly appreciated!

You can't apply online this time I'm afraid...only bank transfer or cheque

anosullivan

I'm sitting constitutional in March and everyone's top tip was to attend a seminar by the examiner in December where he discusses his favourite cases of the year!! These cases are meant to usually form the basis of the questions etc!! I searched all over and couldn't find the seminar on anywhere!! Has anyone ever heard of this?? Does anyone on this thread know if it was held in 2016??? Have any of ye courses given hints what might show up on some of the papers??

LegalAnna

Hey everyone,

So I am doing property and I am just wondering if I would be crazy to leave out mortgages? Its such a big topic but quite confusing and I don't think I would be able yo answer the questions on it anyway!

Also does anyone know where I can buy sample answers just on their own? I have tried adverts but to no avail I failed in october and so am desperate to know where I went wrong! I'm a bit more confident this time but I did three, failed two by getting 47 in both so that was incredibly frustrating!

Thanks in advance!

Redo91

LegalAnna wrote: »

Hey everyone,

So I am doing property and I am just wondering if I would be crazy to leave out mortgages? Its such a big topic but quite confusing and I don't think I would be able yo answer the questions on it anyway!

Also does anyone know where I can buy sample answers just on their own? I have tried adverts but to no avail I failed in october and so am desperate to know where I went wrong! I'm a bit more confident this time but I did three, failed two by getting 47 in both so that was incredibly frustrating!

Thanks in advance!

It's a while since I sat property but I left out Mortgages on the two occasions I sat it. I was happy with how the first attempt went (got 46) and passed the second time. I certainly wouldn't worry too much about leaving out Mortgages. Like you said it's very complicated and there are far more straightforward topics that come up just as often.

I don't know where you can buy sample answers but I've found the examiner reports which you can buy from the law society website very helpful. They will go through the previous paper and say where people went wrong and what they are looking for.

FreeFallin94

Hi guys - would anyone be able to tell me if estoppel came up on the equity paper in October? Just wondering what the chances would be of it coming up this sitting! It's such an easy topic so I'd love to get a question on it.

Gunslinger92

FreeFallin94 wrote: »

Hi guys - would anyone be able to tell me if estoppel came up on the equity paper in October? Just wondering what the chances would be of it coming up this sitting! It's such an easy topic so I'd love to get a question on it.

It did

Camron_16

Hi just wondering if anyone has an up to date equity exam grid? I have constitutional in return.

LegalAnna

Redo91 wrote: »

It's a while since I sat property but I left out Mortgages on the two occasions I sat it. I was happy with how the first attempt went (got 46) and passed the second time. I certainly wouldn't worry too much about leaving out Mortgages. Like you said it's very complicated and there are far more straightforward topics that come up just as often.

I don't know where you can buy sample answers but I've found the examiner reports which you can buy from the law society website very helpful. They will go through the previous paper and say where people went wrong and what they are looking for.

Thank you so Much! I have most of the other topics for property done just kind of getting into crunch time and didn't want to leave out a major topic without some reassurance!

I have pretty much all the examiners reports but just feel like it would be helpful to get some sample answers just to see how other people format their answers but I will keep looking on adverts and stuff thanks for your help again!

20029422

anyone know if specific performance came up in October if not it is surely due and a handy topic.it wasn't on the two sittings before october

Gunslinger92

20029422 wrote: »

anyone know if specific performance came up in October if not it is surely due and a handy topic.it wasn't on the two sittings before october

It did, it was something like how do the courts deal with contracts for personal services or contracts to build/repair

20029422

Gunslinger92 wrote: »

It did, it was something like how do the courts deal with contracts for personal services or contracts to build/repair

ah right il study it anyway just in case I have trustees.charitable trusts,cypres, resulting, express trusts, constitution trusts, secret trusts,specific performance and am going to pick a few more out of the rest don't want to skip much any ideas on what to study would be grateful