The Inspector-General in Bankruptcy has announced that a memorandum of understanding has been entered into between AFSA and ARITA, dated 20 February 2017.
The MOU records various general liaison arrangements and other such matters but it is not, as had been anticipated, entered into in support of the new law introduced by the Insolvency Law Reform Act 2016, which had not in fact commenced when the MOU was signed.
The MOU therefore does not make much reference to the new lines of authority of AFSA and ARITA under the Bankruptcy Act, and where it does, it would need to accord with the new law.
While it is only a MOU, it is evidence of the way that the parties say they will conduct themselves under the law, for example in relation to handling conflicts and perceptions of bias.
For other comments and concerns about the MOU, please feel free to contact me.
Memorandum of Understanding – AFSA and ARITA
The Inspector-General in Bankruptcy has announced that a memorandum of understanding has been entered into between AFSA and ARITA, dated 20 February 2017.
The MOU records various general liaison arrangements and other such matters but it is not, as had been anticipated, entered into in support of the new law introduced by the Insolvency Law Reform Act 2016, which had not in fact commenced when the MOU was signed.
The MOU therefore does not make much reference to the new lines of authority of AFSA and ARITA under the Bankruptcy Act, and where it does, it would need to accord with the new law.
While it is only a MOU, it is evidence of the way that the parties say they will conduct themselves under the law, for example in relation to handling conflicts and perceptions of bias.
For other comments and concerns about the MOU, please feel free to contact me.
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