Case and statute law
Australia’s “practical insolvency regime … sometimes more of a rough and ready process and not an exact science … a trade-off …”
The Federal Court has dismissed a challenge to deeds of company arrangement of two property development companies and not put …
Liquidator’s registration suspended not cancelled, by agreement
In A liquidator disciplinary decision – some regulatory insights | Murrays Legal Commentary , I reported an AAT decision refusing …
Australia’s new liquidator registration processes, and its ‘new liquidators’
On 30 December 2020, ASIC issued guidance on the new liquidator registration processes that apply in Australia two days hence …
Australian insolvency practitioner disciplinary decisions – short but to what point?
This report of two insolvency practitioner disciplinary decisions in Australia will be brief because the decisions, or their publicly released …
Caution against “reasoning backwards” in assessing the validity of liquidators’ litigation
A judge has cautioned against “reasoning backwards” to assume that insolvency practitioners’ failed or injudicious legal proceedings either should not …
Spent convictions of insolvency practitioners
According to a report from Stuff in New Zealand, a long-established liquidator has been denied permission to continue to practise …
‘In the ordinary course of business’ in insolvency – why are we following wrong thinking New Zealanders?
The term ‘ordinary course of business’ in law is meant to describe a transaction that was within the normal operations …
“industry codes with their precepts, guidance and aspirational verbiage cannot dictate the proper construction and application of the relevant statutory provisions”
Soft law in Australia takes a rather strict approach in assessing the independence of insolvency practitioners, more so than, for …
Duties of directors of insolvent companies – New Zealand Supreme Court decision
The NZ Supreme Court has given a significant decision on the duties of directors in the face of their company’s …
A 2012 committee of creditors found in 2020 to be invalidly appointed
In May 2012 a national Australian transportation company was put into liquidation and on 2 July, a meeting of creditors …
A “private arrangement” between a liquidator and the Tax Commissioner
The Commissioner of Taxation has purchased a litigation claim from a liquidator, on what terms we are not permitted to …
Bankruptcy and family provision claims
In Bankrupt for Life, concerning the way a person can remain bankrupt for ever in Australia if they never file …
Courts ‘should be wary of [liquidator] disclaimers where environmental liabilities are to be passed onto taxpayers or innocent persons’
A court has set aside liquidators’ disclaimer of contaminated property on a challenge by the environmental regulator. Particularly in a …
Bankrupt for life?
An Australian personal bankruptcy lasts for a minimum of 3 years in Australia – whether it is an overly committed …
Australian SME insolvencies – the ATO as the solution?
While the government is no doubt considering a range of options to allow the insolvency system to cope with what …
The potential for conflicts of interest in professional co-regulation
Referrals to a disciplinary committee of two senior insolvency practitioners with connections prompt my further explanations of Australia’s insolvency practitioner …
Income of a bankrupt – “even accepting that chattels might … be received as income, a ship is a very different proposition”.
An unlikely case about the salvage of a 120 year old wooden ship – the Defender – has found its …
Cross-border proof of an Australian bankruptcy
A certificate of appointment under Bankruptcy Regulation 8.02 in relation to a voluntary bankruptcy should generally be sufficient to support …
A bankrupt taxpayer – “It is no answer … to say that the Commissioner can be trusted”.
The Federal Court has correctly held that a person who is bankrupt has no standing to challenge a tax assessment …
Company deregistration – government’s fast track response to assetless companies
Fast-tracking insolvent assetless companies through a default de-registration process was introduced, in effect, by the Insolvency Law Reform Act 2016 …
Mainzeal’s NZ$36m reckless trading appeal pending; bankruptcy of director deferred
Liquidators of Mainzeal with a NZ$36m judgment for reckless trading against the company’s directors have failed in an attempt to …
Liquidators’ remuneration in Halifax referred to a referee
Going back some years, Australia rejected a single insolvency regulator for its personal insolvency practitioners on the one hand, and …
Bankruptcy – ‘the Court looks with suspicion on consent judgments and default judgments’
It is not often that a bankruptcy court will go behind the judgment upon which the creditor’s petition against the …
“Insolvency business is booming …” in the UK
Adrian Duncan was an insolvency practitioner in Australia years ago.[1] He now practises in the UK and it seems is …
