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Case and statute law
ASIC v Bettles – case dismissed, with costs
21/08/2023
ASIC
duties of IPs
PJC Insolvency Inquiry 2022
ARITA Code
ASIC has lost a major Federal Court proceeding brought against a senior and experienced liquidator, Jason Bettles, alleging that his
“Record penalties” imposed … against insolvent companies
01/08/2023
deterrence
ACCC
penalties
While much is made of the “record penalties of $438m” penalties imposed on the Phoenix Institute and related companies for
Cancellation of a liquidator’s registration
09/07/2023
practitioner regulation
ASIC
While England is still deciding whether to change its system of insolvency practitioner regulation from one of co-regulation by professional
Insolvency practitioner independence – how commercial is the fair-minded observer?
04/05/2023
independence
A pending WA appeal decision may address the issue of the extent to which commercial considerations surrounding the appointment of
Now we have three Part 5.3B restructuring practitioners
01/04/2023
Small Business Restructuring Practitioners (SBRB)
ASIC
One more person has been appointed as a restructuring practitioner to conduct administrations under Part 5.3B of the Corporations Act
Liquidator discipline outcome – reasons unknown
17/03/2023
Registration and discipline processes
ASIC
A discipline committee has cancelled the registration of a liquidator but declined to publish its reasons for doing so. ASIC
Bankrupt succeeds in gaining access to trustees’ notice to produce
21/02/2023
requests for information
77A notice
A bankrupt has successfully obtained a copy of a s 77A notice to produce served by his trustees on the
Breach of an undertaking not to enter insolvency, an undertaking that was “not worth the paper it was written on”
17/02/2023
penalties
contempt
In a penalty judgment against GetSwift, Justice Michael Lee had some comment to make about GetSwift’s entry into voluntary liquidation
DOCAs – should ‘not much of a return to creditors but better than the liquidation alternative’ be enough?
22/01/2023
derisory dividends
DOCA
Issued June 2021, re-issued January 2023 The WA Supreme Court has dismissed a challenge to deeds of company arrangement (DOCAs)
Relationships of a liquidator and conflicts of interest
30/12/2022
funeral fund
special purpose liquidator
independence
A general purpose liquidator has been found to have had a conflict of interest because a former legal adviser to
Penalties imposed on debt agreement administrator for false and misleading, threatening and coercive conduct against debtors
16/12/2022
ASIC
debt agreements
AFSA
ASIC has succeeded in obtaining penalties against A & M group for false and misleading threatening and coercive conduct against
Abolition of the AAT, and its insolvency law matters
16/12/2022
objection to discharge
AAT
The Administrative Appeals Tribunal is to be abolished we are told and replaced by a new administrative law review body
Receiver’s demand for documents made on a bankrupt director
18/11/2022
bankrupts
receivers
The New Zealand Court of Appeal has found that a director, despite being bankrupt, must hand over documents of the
NSW clubs and their insolvency appointments
03/11/2022
Registered clubs
The NSW Registered Clubs Act 1976 has a quaint provision – s 41 – providing that an insolvency appointee such
Ownership is sometimes but not always as it seems – presumptions for, presumptions against, and evidence
13/10/2022
resulting trust
presumption of advancement
A ‘wife’ has succeeded before the High Court in preventing the ATO claiming what it argued was her husband’s interest
Lawyers’ “grossly inflated” costs estimates
22/08/2022
legal costs
A Judge has dismissed a respondent’s application for security for costs that contained estimates that were “grossly inflated, far beyond
International insolvency case law from New Zealand and the UK
21/08/2022
Preferences
public examinations
New Zealand insolvency
costs orders
The universal nature of much of insolvency law is such that many of its principles apply across jurisdictions, with a
Class actions and litigation funding – New Zealand law reform report
24/07/2022
litigation funding
class actions
While Australia is in the midst of some potential change in the law about litigation funding,[1] the New Zealand Law
Reprimand and more for a liquidator – that’s about as much as we know
17/07/2022
ASIC
reasons for decision
Registration and discipline processes
ARITA
By a media release ASIC has reported that a disciplinary committee has decided to reprimand a liquidator, Nicholas Crouch, under
“The [too high] costs of insolvency”?
22/05/2022
cost
remuneration
The Age newspaper in Australia has reported on what it describes as the “often extremely heavy” costs in administering insolvencies
“National interest insolvencies” – creditors vs the public interest?
14/05/2022
At a seminar in London on 11 May 2022 – National Interest Insolvencies – Should these be for the State
Insolvency disclaimer or state control – furnaces and coke ovens, pyrophoric iron sulphide and methane, effluent lagoons and asbestos …
30/04/2022
environmental
disclaimer
The High Court of Australia has dismissed the liquidators’ application for special leave to appeal in Australian Sawmilling because the
FEG claim against receivers over circulating assets
24/04/2022
circulating assets
Universal Distributing
Fair Entitlements Guarantee - FEG
The Fair Entitlements Guarantee [FEG] scheme through the Commonwealth has obtained orders delaying the deregistration of a company to allow
Why do we have preference recoveries in insolvency? – updated
23/03/2022
Preferences
The High Court of Australia (Keane and Gleeson JJ) has granted the liquidators special leave to appeal from the Full
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