Offence reporting by insolvency practitioners
What is said to be the limited response by ASIC to corporate misconduct reports by liquidators is the subject of some on-going attention. Recommendation 19 of the July 2023 PJC Report on corporate insolvency was that any comprehensive review of insolvency law should consider whether the current statutory reporting obligations for insolvency practitioners are best […]
UK insolvency practitioners to come under direct government regulation
At the same time that the chair of the Australian PJC inquiry into corporate insolvency, Senator Deborah O’Neill, said that self- or co-regulation of insolvency practitioners (IPs) is one way of reducing the extent of government regulation,[1] the UK has decided to do away with its co-regulatory approach in favour of direct government regulation of […]
Gender, and diversity, in insolvency practice, continued
The July 2023 PJC report into corporate insolvency[1] makes recommendations on the “problem” of the limited female representation among liquidators, around 10%, noting that “there are clearly broader cultural or systemic factors at play [which] must be reflected on and addressed”. One broader recommendation, not necessarily focused on gender, is to reduce the 4,000 hours […]
