Moving in together – personal and corporate insolvency law and policy
Mr Christian Porter, as the new federal Attorney-General, might like to consider transferring responsibility for personal insolvency from his law enforcement focused department, to Treasury, which already has corporate insolvency and which has the necessary economic focus to handle bankruptcy reform in the 21st century, moving it away from what was its criminal and moral […]
Cleaning up after a failed miner – who pays?
The Queensland Court of Appeal in Linc Energy, and the Supreme Court of Canada in Redwater Energy, are each determining who pays for the remediation of contaminated land after a miner or oil exploration company goes under. The Queensland appeal decision is pending, the Canadian appeal is being heard on 15 February 2018. The financial […]
Murrays Legal Commentary – closing 31 Dec-1 Jan
Murrays Legal has, since June 2016, issued over 350 commentaries on the broad topic of insolvency, personal and corporate, from legal, economic, social and technology perspectives. International reports and views from the UK, Canada and the US, China and New Zealand have been included. Over 130 local and international cases have been reported, along with […]
Revisiting the Chorley exception
While it has been said that lawyers acting for themselves have fools for a client, the law does not discourage them by what is known as the ‘Chorley exception’. There is a long-standing rule that although self-represented litigants are not entitled to professional costs in acting for themselves in court proceedings, there is an exception […]
Pending insolvency law and practice changes
Some of us are waiting for Santa, others are waiting on anticipated updates in insolvency law so we can send various items of copy off to press. It is a feature of hard copy publishing that a book or article referring to a judge’s trial decision, can be immediately out of date and wrong if […]
The end of safe harbour?
Is there a possibility that the new ‘safe harbour’ regime for directors might be removed? It depends. While the safe harbour section 588GA of the Corporations Act is not the subject of a sunset provision, such that it will be removed unless re-enacted, the operation of the section must be reviewed in two years. […]
Challenge to banktruptcy trustees’ remuneration – continued
A challenge by the Inspector-General in Bankruptcy to trustees’ remuneration in an estate is before Justice Jennifer Davies of the Federal Court in Melbourne. The matter had been listed for hearing this week 14-15 December – but , in what may be some attempt at settlement, the matter has now been referred for a ‘case […]
Sydney Lawyers Orchestra – Christmas Concert, Sydney
Next Monday 18 December 2017 at 7pm, the Sydney Lawyers Orchestra is presenting its fourth annual Christmas concert in Sydney. The concert is being held at Ferguson Hall, St Stephens Uniting Church, Macquarie St, Sydney. All are welcome. The Orchestra was established in 2015 by Thomas Jones, and comprises talented musicians from the legal profession. […]
Trading trusts [clearly and succinctly] explained
This is not a review of Peter Agardy’s ‘Trading Trusts Explained’ (LexisNexis) but an alert to its availability, its release very usefully timed when the law in this area is in a state of judicially created flux. The series of recent cases that are occupying the attention of many trust and insolvency lawyers, and liquidators, […]
The Courts’ Insolvency Rules – their harmonisation and modernisation
The Courts could usefully conduct a review of their corporate and personal insolvency rules, both to address the recent ‘harmonising’ reforms under the Insolvency Law reform Act 2016, and to reconsider some long-standing rules that may now be of less relevance. Following the commencement of new harmonised corporate and personal insolvency laws, the Courts have […]
Debt agreement reform remains under parliamentary wraps
Although listed for tabling in parliament this year, the Bankruptcy Amendment (Debt Agreement Reform) Bill 2017 did not quite make it; some laws about marriage got in the way. The Bill has been referred to a Senate Committee, for report in March 2018, but because it has not yet been presented to the House of […]
Vancouver 2018 – insolvency moots and conference – QUT and UBC
Following the success of the first Ian Fletcher International Insolvency Law Moot, held in Sydney in March 2017, the QUT Faculty of Law is a proud sponsor of the next Fletcher Moot being held from 6-8 February 2018 in Vancouver Canada. I presided as a judge over a number of moots in Sydney in March […]
Professional ethics – Academy of Law Debates for 2017
A series of public debates on ethical conduct in the law, accounting and business was a significant contribution to this important issue made by the Australian Academy of Law in 2017. The debates called for audience contribution and involvement and attracted around 600 participants over the year. The last, in Sydney on 22 November, filled […]
Liquidator conduct appeals – how long should they take?
The hearing of a challenge before the Administrative Appeals Tribunal of a Companies Auditors and Liquidators Disciplinary Board, (now CADB), decision of 11 May 2016 to cancel a liquidator’s registration continued this week before AAT Deputy President Mr Brian Rayment QC. A Murrays Legal report on the 2016 CALDB decision, and its criticisms of ASIC’s […]
50 years of UNCITRAL – and recollections from Bob Ellicott
At a lecture celebrating the 50th anniversary of UNCITRAL – the United Nations Commission on International Trade Law – a former Australian representative at UNCITRAL, Mr Bob Ellicott AC QC, made an honoured and surprise appearance. Mr Ellicott was Australia’s Solicitor-General and then Attorney-General, and Federal Court Judge, among many other distinguished roles. The departing […]
Part IX debt agreement reforms also off to a Senate Committee
In ‘A one year bankruptcy or a 3 year debt agreement … what’s the catch?’ I foreshadowed reforms to Part IX debt agreements under the Bankruptcy Act, to supplement those reforms introducing a one year bankruptcy in the Bankruptcy Amendment (Enterprise Incentives) Bill 2017. Just as that Bill has been referred to the Senate Constitutional […]
Legislative drafting – 2017 reliance on a 1901 precedent
Modern Commonwealth laws still rely on 1901 drafting precedents despite changes in the law over the last 116 years. As we all know, precedents are useful, but they must be used with care. The Audit Act 1901 was one the first Acts of the new parliament of the Commonwealth of Australia. At that time, Australia […]
Vale CAMAC
Many will remember the Corporations and Markets Advisory Committee (CAMAC), and its predecessor CASAC. CAMAC produced many law reform reports over time at the request of the government. It is finally being abolished by the Statute Update (Smaller Government) Bill 2017. CAMAC’s reports remain on its website. Only a few were ever accepted and actioned, […]
One year bankruptcy reform – submissions due by 31 January 2018
The government has put off its announced one year bankruptcy law until well into next year, asking for submissions by the end of January 2018. Many of the 58,000 undischarged bankrupts in the country will have to wait. Meanwhile, the Traill Bankruptcy Conference, and Queensland University of Technology (QUT), are each themselves providing information […]
No, not the Royal Commission – long delayed banking reforms
Long delayed banking and financial institution reforms are being addressed in a Bill to enhance APRA’s ‘crisis management’ powers in relation to distressed or insolvent banks and insurance companies. The Bill has now been referred to the Senate Economics Legislation Committee to report by 9 February 2018. My involvement in this law reform arises from […]
An alternative to parliamentary debate on a one year bankruptcy
With changes in our bankruptcy laws being delayed in parliament by more important debates on our marriage laws, an alternative opportunity for public debate is being offered by the Rosie Traill Bankruptcy Conference on 6 December in Sydney, the week that parliament resumes and then adjourns for the year. These changes involve the reduction in […]
Legal Editing – rules for the citation of court judgments
The following rules for the citation of court judgments are adopted by Murrays Legal Commentary. The need to publicise them in this article, and invite their adoption, arises from some frustration at the way court judgments are cited in judgments themselves, and in legal text books and articles The Rules The rules are: The relevant […]
An economic perspective on trends in start-ups, and -downs
The federal government’s Innovation Statement of 2015 contained some simplistic aims for the promotion of entrepreneurial activity from proposed changes to our insolvency laws. A recent report from an economic perspective provides the level of analysis that is needed to assess the need for and the impact of those laws. The changes to our insolvency […]
Insolvency related conferences and meetings – coming up
A list of insolvency and related conferences for the rest of the year 2017, into 2018 Insolvency Conferences and Meetings 2017-2018 Date Event Contact 4 December 2017 Insolvency Academics Network UTS 5 December 2017 Traill Bankruptcy Workshops Traill & Associates 6 December 2017 Traill Bankruptcy Conference Traill & Associates 12 December 2017 ‘Moral Hazard’ […]
