Punishment for bankruptcy – wearing a yellow and brown bonnet in the public square

A recent book, Re-examining insolvency law and theory – perspectives for the 21st century, comprises chapters on a wide range of theoretical perspectives on insolvency law – from those of morality, liberalism, tax law, human rights, competing goals and creditor rights, property rights, feminism, and the psychology of law reform.  In one chapter – A […]

Personal insolvency figures – December 2023

Numbers of personal insolvencies in Australia continue to fall with the December 2023 figure down to 805 compared with 853 in November 2023.  However, December does generally tend to have lower figures.  These insolvencies were in the broadly usual proportions of 63% (509) bankruptcies, 36% (289) debt agreements, and 1% (7) personal insolvency agreements. A […]

New corporate definitions of director, officer and asset

Following the ALRC’s work on Ch 7 of the Corporations Act, attention has already been given to legislative changes tidying up the Act across a range of sections.  There are consequential changes made in other laws, but not those that fall outside the Treasury portfolio. See the Treasury Laws Amendment (2023 Law Improvement Package No. […]