Courts professions and regulation

Slow pace of litigation and incomprehensible laws

Former Federal Court judge Steven Rares is reported in the AFR[1] as having made several comments about the justice system

Bankruptcy by mistake – who pays?

What started out as a minor dispute over plumbing work for $2,880 descended into the plumber obtaining a judgment for

Rights to appeal – some limits?

In dealing with an unmeritorious bankruptcy law appeal, a Federal Court Judge has made a suggestion to limit appeal rights

Annual reports 2022-2023: of ASIC – ‘a deliberate strategy of obfuscation so that the public is kept in the dark ….’? and of AFSA

ASIC’s ASIC Annual Report 2022–23 has been released amidst some recent severe criticism of the quality of its annual reports

Regulation of firms offering insolvency services

Further to my earlier post on insolvency practitioner (IP) regulation in the UK, and contrary to expectations,[1] the UK government

‘Masculinity contest cultures’, and gender imbalance?

Evidence before the Parliamentary Joint Committee inquiry into Ethics and Professional Accountability [1] (PJC inquiry) may assist in considering the

ACCC’s new penalty guidelines – some queries

The ACCC has issued new penalty guidelines – Guidelines on ACCC approach to penalties in competition and consumer law matters

The cross-border regulation of insolvency practitioners – insights from INSOL Tokyo

I was invited to present at the INSOL International Academic Colloquium on 12 September 2023 in Tokyo on the panel

Cross-border regulation of insolvency practitioners – INSOL Tokyo – where are the government regulators?

This commentary has now been updated.  See The cross-border regulation of insolvency practitioners – Murrays Legal ============================================== I was pleased

ASIC v Jones [GD Pork] – insolvency practitioner independence and pre-insolvency advice

A court decision concerning insolvency practitioner independence and pre-insolvency advice usefully raises issues recommended for law reform review by the

15 years for tax fraud – immoral and illegal

Mr Adam Cranston has been sentenced to 15 years jail for his involvement in conspiracies to deprive the Commissioner of

PJC Recommendation – Pre-Insolvency Advisers – Part 1: summary

The full article on this topic of 1800 words, for those interested, looks that the PJC Report recommendations about “untrustworthy

PJC recommendation – pre-insolvency advisers – Part 1

The PJC Report on Corporate Insolvency 2023 has responded to concerns expressed about “untrustworthy pre-insolvency advisers”, those that are said

Sunlight on pre-insolvency advisers

Updated 14.8.23: While pondering the 2023 Parliamentary Joint Committee’s recommendations about pre-insolvency advisers, I am reminded to go back to

Updates to ASIC insolvency regulatory guides

ASIC is in the process of updating 4 of its regulatory guides on insolvency, in the next few months, and

ASIC beleaguered – updated

Updated 29 July 2023. Given the number of current and on-going inquiries into ASIC, it is as if the regulator

UK insolvency practitioners to come under direct government regulation

At the same time that the chair of the Australian PJC inquiry into corporate insolvency, Senator Deborah O’Neill, said that

Cancellation of a liquidator’s registration

While England is still deciding whether to change its system of insolvency practitioner regulation from one of co-regulation by professional

Should the firms of insolvency practitioners be regulated, along with the practitioner?

While Australia is currently focusing on the standards of conduct of accounting firms, and their partners – see Ethics and

Anti-money laundering laws to be improved, including registers of beneficial owners

The 2023 budget has allocated funds for action on Anti‐Money Laundering and Counter‐Terrorism Financing (AML) laws, including a beneficial ownership

Insolvency practitioner independence – how commercial is the fair-minded observer?

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

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

A discipline committee has cancelled the registration of a liquidator but declined to publish its reasons for doing so. ASIC

Breach of an undertaking not to enter insolvency, an undertaking that was “not worth the paper it was written on”

In a penalty judgment against GetSwift, Justice Michael Lee had some comment to make about GetSwift’s entry into voluntary liquidation