ASIC’s [one] reviewing liquidator guidance
ASIC is seeking feedback on a proposal to simply release a new information sheet on its discretionary power to appoint a “reviewing liquidator” to a company in external administration. Its Reviewing Liquidator Panel comprises liquidators who can be appointed. In 2024-2025, ASIC funded the appointment one reviewing liquidator. ASIC consults on guidance to appoint a reviewing liquidator […]
Shedding light on the dark side of insolvency practice
The Assistant Treasury Minister Dr Andrew Leigh has given support for the need to have good data to inform and direct policy and law reform. Speech – Using Data to Improve Productivity – 30 July 2025 Data to support insolvency law reform The need for data to support insolvency reform came up recently in international […]
UNCITRAL Working Group V – Insolvency, New York, 13-17 April 2026
I am pleased to be again attending a meeting of Working Group V – Insolvency of UNCITRAL, in New York from 13-17 April 2026 with my colleague, Dr Amanda Bull of QUT. We are attending on behalf of LAWASIA. Among issues to be progressed is a draft law on applicable law in insolvency proceedings, and […]
Rethinking economic foundations in an AI world – Dr Andrew Leigh
I was pleased to attend the presentation by Assistant Treasurer Dr Andrew Leigh[1] of the Ted Evans[2] Public Policy Lecture – Rethinking economic foundations in an AI world on 17 March 2026 at Queensland University of Technology in Brisbane.[3] It was hosted by the Economic Society of Australia. I am grateful for the invitation to […]
Australia, ambitious?
The Ambitious Australia: Strategic Examination of Research and Development final report of 17 March 2026 promotes the need for greater emphasis on innovation and research in Australia. It is critical of current laws and disjointed approaches and makes several recommendations. As to one issue, it sees the need for a “cultural shift” in order to […]
Changes in directors’ duties over time – the Marquess of Bute to Star Casino
The 19th century decision concerning the Marquess of Bute, a director and president of the Cardiff Savings Bank, does not appear much in the law reports, perhaps because under present law it appears so outlandish a decision as to be for amusement only. Although in its day, it was good law. In the 2026 decision […]
Are costs “approaching $20,000” high in resolving a bankruptcy filing oversight?
In a creditor’s petition for a sequestration order, a consent to act of a private registered trustee had been signed but it had not been filed with the Official Receiver as required – see s 156A(1) Bankruptcy Act. On 19 February 2026, a sequestration order was made and, with no consent to act on file, […]
The history of innovation, excluding the Hills Hoist
I was pleased to have attended the launch of The shortest history of innovation by Dr Andrew Leigh MP at the University of Sydney on 19 February. The book is an entertaining and informative and thoughtful account of the benefits of innovation in our lives, indeed for humanity, and how they have occurred, with themes […]
Insolvency numbers are not always as bad as they seem
A newspaper reports that small businesses are “going bust in record numbers” pointing the blame on the government’s tax and red tape regime. Those record numbers, a dubious description, might in fact be a good sign of a healthy economy. The article continues that with 14,000 businesses entering insolvency in the 2025 financial year this […]
“have a glass of champagne … You’re just the person I’m looking for”: the creation of the Australian Law Reform Commission
Michael Kirby has written about how the Australian Law Reform Commission was established in 1975. “I want to tell you about the beginnings of the Australian Law Reform Commission (“ALRC”). … “I was looking around for something else to do. Anything else. And then Lionel Murphy walked into that elevator”. “Come up and have a […]
Law, Justice and Other Challenges – Selected Speeches and Papers of Michael Kirby
I was pleased to have attended the launch of a book of the writings of Michael Kirby on 29 January 2026. Law, Justice and Other Challenges – Selected Speeches and Papers of Michael Kirby is a collection of articles written by Mr Kirby and edited by Dr Paul Vout KC, an associate of Mr Kirby […]
Personal insolvencies trending upwards, slowly
AFSA’s provisional monthly statistics in personal insolvency show only a minor monthly increase in numbers – 71 – during December 2025: that is, 1,063 new personal insolvencies increasing from 992 in November 2025 and higher than the 828 in December 2024. Provisional personal insolvencies increased in December 2025 | Australian Financial Security Authority As usual, […]
Corporate mergers, acquisitions etc and restructuring – need to notify ACCC
ARITA, TMA [1] and others in the business restructuring field have protested about the impact of the new merger laws on corporate restructuring, in that they require any restructuring that meets the relevant notification thresholds to be notified to the ACCC.[2] The timing of the ACCC decision would potentially extend past the statutory period in […]
Over $56 million in creditor claims; directors out for 5 years
An ASIC media release reports that “the husband-and-wife directors behind a group of collapsed agriculture businesses linked to a NSW corruption scandal have both been disqualified by ASIC from managing corporations for the maximum period of five years”. ASIC acted under section 206F of the Corporations Act. Over $56.8 million owed to unsecured creditors Reading […]
Liquidator’s 5 year suspension
In July 2023, I reported the cancellation of a liquidator’s registration by a disciplinary committee in relation to unauthorised drawings of remuneration and failure to lodge documents with ASIC and an ultimate finding that he was not a fit and proper person to be a liquidator. Cancellation of a liquidator’s registration – Murrays Legal Tribunal […]
Removal of a liquidator and referral to ASIC
A very long running claim by a liquidator for insolvent trading and other insolvency-based claims was defended on the basis that the company was in fact solvent because it had holding company funding. The circumstances of findings of misleading conduct by the liquidator and the continuation of the proceedings even after evidence of solvency was […]
Personal business liabilities and the World Bank’s B-Ready review of our insolvency laws
The World Bank’s B-Ready review process will be applied this year, 2026, to Australia’s business laws, including “business insolvency”, according to their respective ratings on three pillars, with a percentage score assigned to each. These pillars are the regulatory framework (pillar 1); public services (pillar 2); and operational efficiency (pillar 3). Business Insolvency B-Ready’s “Business Insolvency” […]
“NZ statutes occupy one page to every 5-6-7 pages in Australia” etc
Over the years there has been quite a bit of judicial and parliamentary banter from New Zealand about Australian insolvency laws and perhaps other laws as well. This has been in the area of preference recoveries, the peak indebtedness rule, examination summonses, provable claims and more. One NZ parliamentarian perceptively referred to the “Australians having […]
“Small business” insolvency data
The regular insolvency statistics were released by ASIC (corporate) and AFSA (personal) at the end of 2025 but with a current political focus on insolvency reform for small business, we are now facing the reality of past and current inaction in have adequate data to direct meaningful reform. AFSA statistics show a plateauing or slow […]
Combatting financial abuse perpetrated through coerced directorships
Moving from its militaristic combatting phoenix activity, the government is now going to crack down and combat financial abuse perpetrated through “coerced directorships”.[1] Among the various options, defences will be available to “victim-survivors” for breaches of insolvency-related directors’ duties, such as insolvent trading, and rights given to extend the timeframe to respond to director penalty […]
An outline of arguments supporting a combined personal and corporate insolvency regime for small business
This explains our law reform project seeking to have a combined regime for personal and corporate insolvency for small corporate businesses, or SMEs.[1] It arises in part from the various recommendations of the 2023 Parliamentary Joint Committee Report on Corporate Insolvency (2023 PJC report) and our own research interests. There has been no real government […]
AFSA and Mr Leroy, and now Mr King
23 December 2025 The story below that Mr Leroy has been found is now added to by the Inspector-General in Bankruptcy announcing that he has brought proceedings in the Federal Court against registered trustee Gavin King and others. Inspector-General in Bankruptcy takes action against trustee Gavin King linked to Paul Leroy matter | Australian Financial […]
Falling returns in personal insolvency agreements
In the end, the bankruptcy of Mr Hartnett following the Inspector-General in Bankruptcy’s challenge to his Part X personal insolvency agreement (PIA) came down to whether the PIA remained “in force” in terms of s 222(1) of the Bankruptcy Act. It did. That the PIA would have returned ‘only’ 2.165c/$ was not in issue, not […]
“Who’s making us bankrupt?” or “what are debtors doing about it?”
Financial Counselling Australia (FCA) has called for “urgent” reforms to Australia’s bankruptcy laws after releasing its report, “Who’s Making Australians Bankrupt? A follow-up report: six years on”. Following on its earlier report, it reveals that what it calls “forced bankruptcy” – ordered by the court – is concentrated among a small number of creditor types, “often […]