Courts professions and regulation
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 ...
The bankruptcy trustee and missing funds, continuing
The court hearing of an Australian bankruptcy trustee who may need to explain missing funds has been adjourned without ceremony ...
ASIC’s review of offence reporting – RG 16
In response to the PJC Report, although a bit premature, ASIC is reviewing its RG 16, on offence reporting obligations, ...
“Thousands and thousands of pounds have been lost …”
By way of an update to this post, on 11 June 2024 the Federal Court adjourned the 14 June case ...
Insolvency practitioners as employees
Updated on 5 March 2024 to refer to a 1996 Explanatory Memorandum in bankruptcy which says that, despite the case law, ...
Insolvency Practitioner Registration and Disciplinary Committees
I am pleased to have been appointed by the government as a part‑time member to the Ministerial pool for the ...
Offence referrals by liquidators
Offence referrals to ASIC by liquidators continue to be contentious and perhaps distracted by the issue of claimed automated decision-making ...
Cancellation of a bankruptcy trustee’s registration and freezing orders obtained
The registration of Australian bankruptcy trustee Mr Paul Leroy was cancelled by the Inspector-General in Bankruptcy (IGB) on 2 February ...
NOCLAR – accountants’ reporting of offences
Some while ago, I took an interest in the professional obligation that accountants decided to impose on themselves to respond ...
NZ insolvency practitioner sanctioned
A sanction of a New Zealand liquidator for the poor handling of his matters provides an illustration of New Zealand’s ...
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 ...