Appeal decision in Sakr Nominees – remuneration of liquidators
A test case decision in Sakr Nominees from the NSW Court of Appeal will be given tomorrow 9 March at 10.15am EST. In my commentary on 12 January 2017, I said that the decision of Justice Black in PrimeSpace Property [2016] NSWSC 1821 (15 December 2016) might be seen as a worthy draft of the Court […]
ASIC’s regulation of unlawful phoenix activity – report 513
ASIC’s latest enforcement report – REP 513 ASIC enforcement outcomes: July to December 2016 – says up front that it has a focus on “rogue insolvency practitioners and others who facilitate serious illegal ‘phoenix’ behaviour and improper transactions in the face of insolvency”. Having opened with that, the report does not quite substantiate the existence […]
Australia’s first/worst insolvency reforms in many years – but she’ll be right….
Australia has implemented its first major insolvency reforms in many years but rather than being seen as an achievement they are regarded by many as being populist and over-regulatory. They have in fact been described by a senior insolvency academic as the worst insolvency reforms in his thirty year experience. The new law The Insolvency Law […]
Liquidators working overseas – how are they regulated? INSOL Academics 18-19 March 2017
I am pleased to be presenting at the INSOL Academics’ Group Colloquium in Sydney, being held on 18 and 19 March 2017. Its program is here. The colloquium is chaired by Professor Rosalind Mason, of Queensland University of Technology, QUT. My paper*asks: whether or how an Australian liquidator conducting investigations and proceedings overseas as a “foreign representative” under […]
Liquidators as the last in line – the Insolvency Law Bulletin
In an article entitled “Last Man Standing” in the Insolvency Law Bulletin, I have addressed the question of regulators tending to impose liability or responsibility on an insolvency appointee for past or further responsibilities of the insolvent company. As a court said, this can be an issue because after a corporate collapse, the liquidator is the […]
