The UK government has announced[1] major insolvency law reforms that would significantly advance the flexibility required for restructuring financially troubled businesses. The reforms would adopt elements of US Chapter 11, with directors remaining in control throughout the period of a statutory moratorium against creditor claims, …
The Federal Circuit and Family Court of Australia Bill 2018 (FCFC Bill) and the Federal Circuit and Family Court of Australia (Consequential Amendments and Transitional Provisions) Bill 2018 have both been read in parliament. Both were immediately referred to the Senate Legal and Constitutional Affairs …
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A comment in the Victorian Court of Appeal (VCA) decision in Amerind may not have found favour with Justice Gageler at least when the question of whether to grant special leave to appeal from that decision was being considered by the High Court on 17 …
While waiting to see if Australia’s parliament decides to introduce a one year period of bankruptcy, down from the current three, a meander through some personal insolvency statistics from England and Wales (EW; Scotland and Northern Ireland report separately) shows quite different figures and proportions …
A father who suffered a debilitating stroke left his son with the legal difficulty, in a quagmire of state and federal laws, of trying to deal with his father’s insolvency arising from his large accumulated debts. The father suffered a significant cognitive impairment, with no …
With the Australian parliament about to decide on the reduction of the period of bankruptcy from three years to one, there is some adverse reaction to the reform, said to be typical of Australia’s attitude to debt, that the lesser period will provide greater opportunity …
With Australia having just closed its consultation on allowing company directors to have a director identity number (DIN), it is useful to see the broader perspective being taken in New Zealand to that issue, and in other countries. Beneficial ownership of companies New Zealand is …
Federal Treasury has closed its public consultation on an exposure draft of the Competition and Consumer Amendment (Gift Cards) Bill 2018 and explanatory materials. Gift cards draw out a range of emotional responses. The Bill would amend the Australian Consumer Law: mandate minimum three year …
The draft legislation program for the Senate for next week commencing Monday 20 August 2018 lists, among other Bills, the Bankruptcy Amendment (Enterprise Incentives) Bill 2017 for debate on Monday, after 12.20pm, and the Bankruptcy Amendment (Debt Agreement Reform) Bill 2018, for Tuesday afternoon, 21 …