Uncategorised

NZ accountants’ new Code obligations, with Australia close behind

Accountants in New Zealand, including those who are insolvency practitioners, are from this week required to refer relevant breaches of the law committed by their clients or employers to the authorities. Australia follows suit on 1 January 2018. What are the implications for insolvency accountants, …

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Very leviable liquidators

In anticipating the funding bases for the government meeting ASIC’s costs of regulating insolvency practitioners (IPs), I wrote that there “should be some comfort taken from the fact that the legislation is being handled by Treasury which, with its economic and financial accountability focus, will ensure …

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Director charades continued

After giving directors the benefit of protection from liability for insolvent trading, through the ‘safe harbour reforms’, the government has not required of directors that they at least verify who they really are to start with. The most authoritative reports on countering unlawful phoenix activity …

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Uncategorised

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 commercial choice. Insolvency practitioners – IPs, being trustees in bankruptcy and company liquidators – are not your average business operators. They have no clients or …

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General

Bankruptcy and mental incapacity

A son was obliged to ‘forum shop’ in order to assist his debt-laden father go into voluntary bankruptcy.  The father had suffered a stroke leaving him with severe cognitive impairment. The son tried to put his father’s estate into bankruptcy in Queensland, where the father lived, but had to eventually …

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