Courts professions and regulation

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

How low can we go – funding the insolvencies of assetless estates

Obvious as it is to say, insolvency involves limited or no money, and how to fund its existence as a

Bankruptcy data 2021-2022 – rates of return, fees etc

At the end of 2022, AFSA quietly released detailed data on the operation of the personal insolvency system in 2021-2022. 

Relationships of a liquidator and conflicts of interest

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

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

The Administrative Appeals Tribunal is to be abolished we are told and replaced by a new administrative law review body

The gender gap in insolvency

An article in the latest Insolvency Law Bulletin – The gender gap among Australian liquidators,[1] by Paulina Fishman – comments

Rethinking Insolvency Practitioner Remuneration – Insolvency Law Bulletin

Had the decision in Re HRL Limited (in liq) [2022] VSC 693, allowing a “success fee” on insolvency practitioner (IP)

The latest Insolvency Law Bulletin – remuneration, trading trusts, financial product collapses, gender, and more

In the latest issue of the Insolvency Law Bulletin, we have an article on a simpler solution to insolvent trading

PJC insolvency inquiry – deregistered companies submission

An early submission to the Parliamentary Joint Committee inquiry into corporate insolvency from Mr Russell Morgan, liquidator, of 15 November

NSW clubs and their insolvency appointments

The NSW Registered Clubs Act 1976 has a quaint provision – s 41 – providing that an insolvency appointee such

The several inquiries into ASIC

There are now several government inquiries into ASIC, directly or indirectly, perhaps indicating either the breadth of ASIC’s remit, or

International insolvency regulators’ conference – some current comparative issues

The International Association of Insolvency Regulators’ Annual Conference was held in England from 26-29 September 2022.  Australia’s reported contribution to

Corporate plans of the insolvency regulators

The corporate plans of Australia’s two insolvency regulators have been released – AFSA and ASIC In order to assist in