ASIC

Litigation funding – ASIC’s submission to the ALRC

ASIC’s submission[1] to the Australian Law Reform Commission on class actions and litigation funding seemed to be a surprise to

ASIC “pointing to scalps and easy wins … might satisfy a shallow media day” but …

In the appearance of ASIC before the House Economics Committee today, 22 June, inquiring into ASIC’s 2016-2017 annual report, Mr

Review of ASIC’s Annual Report 2016-2017 – 22 June 2018

The House Standing Committee on Economics is conducting an inquiry into ASIC’s 2017 annual report, this Friday 22 June, in

Registration of a liquidator, on conditions – Mansfield

The AAT has confirmed that a corporate insolvency practitioner’s ‘exposure’ to bankruptcy as being one criterion required to be met

by how much could we reduce white collar crime by imposing 30 year jail sentences? “Zero”.

The Honest Politician’s Guide to Crime Control never went into to a second edition, and it may by now be

Mining company rehabilitation costs as contingent liabilities – Senate hearing

The question of how to account for outstanding rehabilitation costs of mining ventures was again before the Senate Environment and

Some casual Friday comments on recent insolvency developments

This is a quick review of some on-going current issues in insolvency and related. Pending decisions The Commonwealth v Byrnes

ASIC and one-year bankruptcy, AUSTRAC, a fees claim settled, and more …

The following further commentary on insolvency – submissions due, events and conferences and case law – may be of interest.

Macks v Viscariello – appeal outcome

The appeal decision in the contentious matter of Macks v Viscariello has now been delivered. It needs to be read

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

Vale CAMAC

Many will remember the Corporations and Markets Advisory Committee (CAMAC), and its predecessor CASAC.  CAMAC produced many law reform reports

‘A one year bankruptcy or a 3 year debt agreement … what’s the catch?’

With Australia on the verge of introducing a one year period of bankruptcy, it is odd that no comparable reforms

‘If you want to take us on in court, go for your life because, guess what …’

ASIC may not have meant it but comments to the recent PJC inquiry about ASIC’s “transformational industry funding” may raise

ASIC and the PJC – hellholes, law enforcement, identity, funding, and more

Here are some selected snippets from the transcript of the PJC hearing oversighting ASIC, of 27 October 2017, the last

Guerilla tactics needed against phoenix misconduct

While the government is considering the various submissions on phoenix reforms, these quick thoughts came to mind, involving both government

Insolvency Law Reform Act – some real legislation errors

woodfer The changes effected by the Insolvency Law Reform Act 2016 are now law with some parts having commenced on

The fine print in an ASIC form

With Australia’s new insolvency laws commencing this Friday 1 September, there is a late flurry of activity from the legislature

International insolvency regulation – London 2017

The annual meeting of the International Association of Insolvency Regulators, IAIR, is being held in London, from 4 to 7

Director charades continued

After giving directors the benefit of protection from liability for insolvent trading, through the ‘safe harbour reforms’, the government has

Getting rid of liquidators

While no-one in business likes losing a client or customer, usually, it happens all the time, as a matter of

ASIC’s 2017 annual report – what to expect in insolvency regulation

Report 532 ASIC’s regulation of registered liquidators: January to December 2016 is a rather dense and detailed report which explains

Creditor’s examination summons of a liquidator upheld

A creditor’s summons for the section 596A public examination of the liquidator about his sale of company property has been found

What work was involved in this liquidation and why did it take the time and resources claimed?

A liquidator’s remuneration claim of over $350,000 for conducting the winding up a country dental practice involving 24 of his staff

Friendly and ‘friendly’

With the rather confusing term ‘friendly liquidator’ continuing to be used: by the media: Dirty Deeds: Inside Australia’s Biggest Tax