Uncategorised

Insolvency reforms further delayed

The Australian government has decided that insolvency practitioners need more time to implement long awaited law reforms aimed at improving practitioners’ reporting and accountability, enhancing their efficiency, improving their communications and increasing competition between them.  The commencement of many of the reforms under the Insolvency Law Reform Act …

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Uncategorised

Liquidators’ remuneration further explained …

Obviously with an eye on the ‘controversy’ over how to assess liquidator’s remuneration, at least in NSW, Justice Robb of that Supreme Court has given a judgment that seeks to explain the place that using a percentage of asset realizations has in determining a liquidator’s remuneration. At …

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General

A lack of trust in the law of trusts

Joint liquidators had to apply to the court be appointed as receivers and managers of property held by them as bare trustee because of uncertainty in the law as to their powers. The company had never traded in its own right, its only activity having …

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General

Gift cards, and Christmas hampers

  A report has just been issued in the UK by the Law Commission on the question of whether there should be greater protection for consumers who lose deposits or gift vouchers when retailers or other service providers go into insolvency. Dick Smith Electronics This …

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