Liquidators – have your “policies and procedures” handy, or “propose to put them in place”, soon
New section 30B of the ASIC Act allows ASIC to ask a liquidator to produce the ‘policies and procedures’ relating to external administrations and receiverships that the liquidator ‘has adopted or proposes to adopt’ in their firm, as well as information on the liquidator’s past, current and ‘proposed’ administrations. These must be supplied even if this involves the liquidator […]
OECD report – “low personal costs to entrepreneurial failure with high barriers to restructuring”
Economic analyses of insolvency in Australia are strangely limited, given that a major purpose of an insolvency regime is its support of economic efficiency. Particular economic purposes of any insolvency regime include the disposal of non or poorly functioning businesses and the re-allocation of their resources to others for better economic use. An OECD paper offers thoughts […]
