Search results
ASIC updates “guidance to help directors prevent insolvent trading”
ASIC has updated its regulatory guide for directors and their professional advisers on the duty to prevent insolvent trading – ...
Insolvent trading in context
Insolvent trading is one of the many items for review recommended by the Parliamentary Joint Committee report on Corporate Insolvency. ...
Insolvent Trading and Minimal Returns to Creditors in Liquidations
This is a brief response to a well-researched and thoughtful article by Associate Professor Mark Wellard – Insolvent Trading: Director ...
Australia’s safe harbour protection from insolvent trading liability, continued
The report on Australia’s safe harbour protection for directors (s 588GA) from what is said to be our strict insolvent ...
Review of Australia’s safe harbour protection from insolvent trading – remember s 588HA [updated]
The federal government has finally made arrangements to have Australia’s “safe harbour” from insolvent trading law reviewed – s 588GA, ...
Insolvent trading convictions set aside on mental health grounds
Following convictions and imprisonment for insolvent trading arising from the 2009 collapse of Kleenmaid, its founder, Andrew Young, has succeeded ...
Extension of insolvent trading concessions – flake news?
Someone government person called Andrew is saying that the insolvent trading protections for directors will be extended beyond 25 September ...
How is Australia’s safe harbour from insolvent trading working? some survey results
An article by Professor Ian Ramsay and Associate Professor Stacey Steele has just been published reporting on survey responses of ...
Does insolvent trading work? The UK may not think so.
In the context of the review of the safe harbour provisions in Australia, there have been recent articles on insolvent ...
Law reform – a carve-out from directors’ insolvent trading liability, with a change in their culture in return
The draft ‘safe harbour’ provisions proposed by the government offer directors two advantages in what must be their genuine attempts ...
Mad Dogs could not legally perform its contract in breach of insolvent trading laws
An insolvent company cannot legally continue to perform its contract by which debts are incurred. Hence it has no claim ...
Financial abuse report – corporate, tax, bankruptcy and family law conduct
Among the 61 recommendations of the Report of the Parliamentary Joint Committee (PJC) on Corporations and Financial Services – Financial ...
Are pecuniary penalties actually paid?
One enforcement tool of regulators is to obtain a court ordered civil penalty against the respondent company or individual. That ...
Insolvency practitioner remuneration – continued ….
A report in a daily newspaper[1] has commented on the large fees earner by liquidators and administrators in attending to ...
ASIC’s annual report 2023-2024 – Chapter 5 insolvency issues
ASIC has released its 2023-2024 annual report. ASIC annual reports | ASIC. Under s 136(1)(ca) of the ASIC Act 2001, ...
Coercive control and insolvency
ASIC has asked registered liquidators to “stay alert” for signs of family and domestic violence when conducting insolvency administrations.[1] ASIC ...
ASIC’s civil penalty regime – an academic review
In the midst of a focus on the enforcement activity of ASIC following a critical Senate Committee report,[1] we have ...
Insolvency law’s elephants in the room
Professor Jason Harris and I will be presenting a session at INSOL Academics Colloquium in San Diego USA on 22 ...
A winding up vs an administration – s 440A(2)
The situation where a creditor applies for a winding up of a company under the Corporations Act, and while that ...
NOCLAR – accountants’ reporting of offences
Some while ago, I took an interest in the professional obligation that accountants decided to impose on themselves to respond ...
Public interest supports time extension for insolvency recovery action
Litigation claims brought by insolvency practitioners (IPs) are not like the usual commercial claims on behalf of a commercial, or ...
NZ Supreme Court confirms Mainzeal directors’ liabilities for over NZ$39 million
The Supreme Court of New Zealand has dismissed directors’ appeals from a finding that they must pay over NZ$6 million ...
Updates to ASIC insolvency regulatory guides
ASIC is in the process of updating 4 of its regulatory guides on insolvency, in the next few months, and ...
What does our insolvency system produce? [re-issued July 2023]
31 March 2022 Many of us who call for a major review of our insolvency laws must know that the ...
