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 …