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Review of the big banks

The Treasurer has asked the Standing Committee on Economics to inquire into and report on what is termed a Review of Australia’s Four Major Banks. Hearings are commencing this week, in Canberra. The broad terms of reference are: domestic and international financial market developments as …

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Liquidators riding a remuneration merry-go-round

The commentaries on how the judges assess, or should assess, the remuneration of liquidators is reaching saturation point, one practitioner likening it to being on a merry-go round – not only between percentage, time and outcome billing methods, but also between state and federal courts. The concept …

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Hanjin Shipping – an Australian perspective

The appointment of a receiver to the large South Korean Hanjin Shipping Line has had an impact in Australia, with parties before the Federal Court last week, 16 September, in relation to the arrest of the ‘Hanjin California,’ presently moored in Sydney Harbour.  For legal …

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Insolvency practitioners’ duties of neutrality

Liquidators and administrators, and trustees, when their appointments are challenged, have a duty of neutrality, to provide relevant facts to parties, and to the court, in order for the concern about the challenge to be determined on its merits. The voluntary administrator’s appointment in Condor …

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Another life insurance inquiry – respond by 18 November…..

The Parliamentary Joint Committee on Corporations and Financial Services is to report by 30 June 2017 on: the need for further reform and improved oversight of the life insurance industry; assessment of relative benefits and risks to consumers of the different elements of the life …

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Single touch payroll – on its way into law

The Senate Standing Committee on Economics has given a report on the Budget Savings (Omnibus) Bill 2016 and has endorsed the Bill’s provisions for single touch payroll. The Committee reported: 5.35    Single Touch Payroll (STP) reporting is designed to reduce the compliance costs for employers meeting their …

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QUT insolvency expertise

QUT is holding its international personal insolvency conference in Brisbane tomorrow and Friday – 8-9 September 2016 – with speakers presenting from the US, the UK, Europe, China, South Africa, Japan, New Zealand and more. Leading names in insolvency include Professors Jay Westbrook (US), Iain …

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