Courts professions and regulation
Personal insolvency numbers remain low – AFSA report
AFSA has released a report on personal insolvencies in 2023-2024, with some predictions as to the future. State of Personal ...
Former liquidator sentenced to 4 years jail; ASIC yet to explain
ASIC reports that former registered liquidator Peter Andrew Amos was sentenced on 13 December 2024 in the District Court of ...
The costs of insolvency practitioner regulation
ASIC has released its analysis of the costs of regulation of liquidators; AFSA has issued comparable analyses of the costs ...
Former liquidator sentenced to 4 years jail, 2 years non-parole
Former liquidator, Mr Peter Amos, has been sentenced to 4 years imprisonment, 2 years non-parole, for misappropriation of around $2.5m ...
Public regulators aren’t to blame for private enterprise misconduct, ok?
In a rather sad comment on standards of conduct in many parts of the private enterprise sector, ASIC has listed ...
Courts’ delayed judgments
The courts are central to much of insolvency practice. At the same time, court processes can be costly and time ...
ASIC updates “guidance to help directors prevent insolvent trading”
ASIC has updated its regulatory guide for directors and their professional advisers on the duty to prevent insolvent trading – ...
A confused director
A challenge to a winding up demand served on Lifestyle Homes (ACT) Pty Ltd over the omission of the words ...
Are pecuniary penalties actually paid?
One enforcement tool of regulators is to obtain a court ordered civil penalty against the respondent company or individual. That ...
AFSA’s annual report on personal insolvency?
The AFSA 2023–24 Annual Report has been released, reporting on the information required under particular public sector legislation. Unlike ASIC, ...
Litigation Funding in Insolvency and in Class Actions
This queries corporate insolvency’s requirement for approval of liquidators’ litigation funding in the context of an article comparing litigation funding ...
Insolvency practitioner remuneration – continued ….
A report in a daily newspaper[1] has commented on the large fees earner by liquidators and administrators in attending to ...
What is the future of insolvency practice?
In my reply to an interesting comment from a practitioner about the fundamental difficulties of lack of funding for insolvency ...
The need for a new process for the appointment of insolvency practitioners?
A Judge has expressed concern about the processes for the appointment of insolvency practitioners, suggesting adverse relationships with their lawyers, ...
Insolvency trends – should they be higher?
Recent figures show trends in insolvencies in Australia – nothing too significant at a macro level though distressing at a ...
ASIC’s updated guidance on liquidator registration and discipline; AFSA; and the ART
ASIC has released updated regulatory guidance on statutory committee registration and discipline processes, and related issues: see Revised Regulatory Guide ...
Gender balance in the insolvency industry
With women comprising only around 10% of insolvency practitioners, the issue of gender balance continues to receive attention, among broader ...
Reviewing liquidators – under review?
ASIC has announced that it has appointed 15 new members to its Reviewing Liquidator Panel, following the expiry of the ...
Fees of insolvency practitioners and lawyers
The commentary following was issued on 15 August 2021. It is reissued for historic interest only, perhaps, on the assumption ...
ASIC’s civil penalty regime – an academic review
In the midst of a focus on the enforcement activity of ASIC following a critical Senate Committee report,[1] we have ...
ASIC’s revised guidance on insolvency practitioner offence reporting – RG 16
ASIC has issued revised guidance on insolvency practitioner offence reporting obligations – RG 16 External administrators and controllers: Reporting of ...
Splitting ASIC 2024 and the 2010 Senate Committee Report
In the discussions about separating ASIC’s tasks following the July 2024 Senate Economics References Committee report – Australian Securities and ...
Senate report on ASIC’s investigation and enforcement roles – July 2024
The Senate Economics References Committee has issued its Report – Australian Securities and Investments Commission – investigation and enforcement, of ...
Insolvency practitioners and missing moneys – on-line regulation required
The sentencing hearing in relation to former liquidator Mr Peter Amos was mentioned on 17 June 2024 and was then ...
