Courts professions and regulation
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 ...
Lawyers’ “grossly inflated” costs estimates
A Judge has dismissed a respondent’s application for security for costs that contained estimates that were “grossly inflated, far beyond ...
International insolvency case law from New Zealand and the UK
The universal nature of much of insolvency law is such that many of its principles apply across jurisdictions, with a ...
One small business restructuring practitioner
Reforms to corporate insolvency laws commenced on 1 January 2021 to assist companies with liabilities less than $1 million. These ...
Try to resolve unpaid debt early, and leave insolvency as a “last resort”
Each of AFSA, ARITA and Financial Counselling Australia has issued a statement calling for better processes for resolution of claims ...
Insolvency practitioner remuneration revisited
International Insolvency Research Symposium.M Murray.RemunerationRevisited July 2022 – final This is a paper I gave at the recent International Insolvency ...
Reprimand and more for a liquidator – that’s about as much as we know
By a media release ASIC has reported that a disciplinary committee has decided to reprimand a liquidator, Nicholas Crouch, under ...
Insolvency practitioner [over]-regulation in Australia – an update
While the UK is reviewing its insolvency practitioner (IP) co-regulation system, Australia’s direct regulation, with minimal but expansive co-regulation, might ...
Who should pay for the costs of the administration of an insolvency?
A debtor in Australia pays no fee to have themselves made voluntarily bankrupt. If that does not seem odd, then ...
“The [too high] costs of insolvency”?
The Age newspaper in Australia has reported on what it describes as the “often extremely heavy” costs in administering insolvencies ...
