Government progress (or lack of it) on insolvency law reform

‘Progress’ on Insolvency Law Reform by Michael Murray

See my recent comments at this link.

Some will be aware that various law reform proposals for our insolvency laws have been made over time. These proposals exist either as a result of reports commissioned by and given to government. Other such inquiries are in train.

There has been no law reform in response to these reports, the last major reforms being pre-GFC, in 2007, although one – ALRC 95 – goes back to 2002.

The fact that reports are issued and recommendations made in Australia does not seem to stop further inquiries being established, often crossing over prior or existing inquiries.

In order to lessen confusion, and to offer transparency and clarity to our insolvency ‘law reform’ activities, this table has been prepared. It will be amended if or as matters progress. Indeed, readers, or legislators, can advise of any changes that need be made to ensure it remains correct and up to date.

I can be contacted on michael@murrayslegal.com.au

 

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