What’s on …. insolvency and related conference and seminars 2017 into 2018

A list of conferences for the rest of the year, into 2018 in some of which one or other of the team at Murrays Legal is involved or presenting. Questions welcome. 2017         23-27 August Melbourne Forum, Japan 31 August-2 September BFSLA Brisbane 4 September Asian Insolvency Law Reform, Melbourne 4-7 September IAIR […]

The new Code of Banking Practice – what and when?

In evidence before the Senate Select Committee on Lending to Primary Production Customers on 11 August 2017, the Chief Executive of the Australian Bankers Association, Anna Bligh, said that the Code of Banking Practice is currently being re-written.   “The industry has taken the view that the code should be approved by ASIC. If so, it […]

ABA’s Anna Bligh and bank lending reforms

Anna Bligh, the Chief Executive of the Australian Bankers Association, has recently spoken of the “strong and mutually beneficial relationship between the banking sector and the restructuring and advisory sector”, including how the industry plays an integral corporate advisory role when small businesses are going through tough times. In preparing her published speech for the ARITA conference, […]

Pay your tax debt now – only $…99.99

While a retailer’s $99.99 is a typical example of psychological pricing, the Tax Commissioner’s figure of $8,453,699.99 is not. Rather, is it the amount claimed by the Commissioner from Philip Whiteman, in on-going proceedings connected with Whiteman’s claimed involvement in unlawful phoenix activity. The Commissioner succeeded before Justice Davies in obtaining summary judgment in that […]

The cost of a victim of crime in pursuing her own justice

The personal and financial suffering that a victim of a serious physical crime can go through, and the costs of pursuing justice, are displayed incidentally in this bankruptcy related decision of the Administrative Appeal Tribunal (AAT). The victim successfully sued her assailant for damages, and recovery of his assets, and was awarded over $500,000. He […]

“a sad (but regrettably not uncommon) occurrence in contemporary professional life”.

“The personal circumstances of DDQ offer a sad (but regrettably not uncommon) occurrence in contemporary professional life”. A disciplinary tribunal dealt with the circumstances of DDQ – a solicitor who had practised successfully since 2008 but with a “difficult and arduous” workload, his mental health declined and he left legal practice in 2012. He became […]

External dispute resolution and the Ombudsman

Ms Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman, is reported to have called “on the insolvency sector to improve its accountability and transparency or face louder calls for increased regulation”. EDR According to a media release, only, Carnell said at the ARITA conference that there should be an external dispute resolution (EDR) […]

A case of ‘just in case’ – Network Ten

The concept of “potential” or “putative” insolvency administrators who have had “recent, long-term, substantial and remunerative involvement” with the company before they are appointed to administer it has been raised in Korda, re Network Ten: [2017] FCA 914. There, the Federal Court accepted the continuation of Korda Mentha as administrators, but ordered the appointment of […]

Bankruptcy trustees’ remuneration challenge – continued

A Victorian Supreme Court decision gives some background to the regulator’s decision to reduce bankruptcy trustees’ remuneration by over $277,000, a decision being challenged in the Federal Court on 30 August 2017.  Groll was made bankrupt pursuant to a sequestration order on 2 September 2014. A guardian and administrator was appointed to his estate on […]

The need to pick up the phone….

An appeal court has confirmed a finding that a liquidator who did not telephone a director to inquire about  money apparently transferred by the company before its liquidation had breached his duties to the company under s 180(1) of the Corporations Act; but because the company suffered no loss as a consequence, no compensation was […]