Uncategorised

New Zealand – the outlier of international insolvency regulation

Australia and other countries will be relieved that New Zealand is again looking at licensing and regulating its insolvency practitioners. From a cross-border perspective, this relief is in light of the fact that an unqualified NZ liquidator has the right to pursue cross-border insolvency investigations, …

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A silver lining in the insolvency law reform delay

The unfortunate delay in the commencement of the substance of the insolvency law reforms for one year, to 1 September 2017, and the reasons given for this may in fact reveal a silver lining, an opportunity to bring insolvency processes on-line and into the 21st …

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Latest Supreme Court Views on Liquidators’ Remuneration

A NSW Supreme Court judge has spoken about “liquidators’ preference for time-based remuneration, and courts’ scepticism of it” at a major conference of senior judges and lawyers in Sydney last week. Justice Ashley Black presented his paper at the Conference on Corporations Law held by the Federal Court …

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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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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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