Courts professions and regulation
Bankruptcy – transfer of files from the Official Receiver to private registered trustees, with 20% to women
Australia’s AFSA has announced that since 29 July 2021, it has changed the way it allocates bankrupt estates to bankruptcy ...
The high cost of ASIC’s regulation of liquidators, in a deregulatory environment
The proposed annual ASIC ‘industry levies’ imposed on liquidators in Australia, to fund the cost of their regulation, prompts this ...
Assigning bankruptcy claims to a former trustee
A 5 day bankruptcy hearing was cancelled in March 2021, in relation to matters occurring in 2012, being challenged in ...
Insolvency practitioner charge-out rates – the cost of carrying the State
In making a winding up order against Forum Finance,[1] Justice Michael Lee made this comment about the hourly fees of ...
The insolvency rule in ex parte James – another in a series of cases ‘dancing on pinheads’
A trustee in bankruptcy in England rejected a £5.7m proof of debt lodged by the revenue authority [HMRC][1] on what ...
Australian small business insolvency law – a review
Several stars aligning at the end of 2020-2021 prompt this review of where Australia is at in the area of ...
Regulatory penalties
Sanctions imposed by courts for breaches of competition or regulatory laws have to tread a line between being so severe ...
Australian High Court – special leave sought in bankruptcy Ponzi case – 139ZQ
An application for special leave to appeal to the High Court[1] has been made in a bankruptcy matter involving a ...
Insolvency services for sale
There seem to be some rather unhappy insolvency practitioners at the moment bemoaning the low levels of insolvencies – yes, ...
Trustee “entirely blameless” in his dealings with a mentally infirm bankrupt
While there is now greater training available in dealing with those suffering mental illness for professionals working in debt counselling ...
Licensing of insolvency practitioners – decision making principles from New Zealand [updated post 13 June 2021]
Mr Damien Grant, the New Zealand insolvency practitioner who successfully challenged RITANZ’s decision to deny him the right to practice ...
Employees’ loss of FEG redundancy payments through their misguided “acts of decency and loyalty” to assist
The AAT has described its decision confirming a lack of government assistance under fair entitlements guarantee (FEG) for “two dedicated, ...
Costs against ASIC in its [“illegal phoenix activity”] claim against a liquidator
ASIC has been unsuccessful in resisting a costs order against it in its “illegal phoenix activity” proceedings against a liquidator ...
Deregistered companies – UK reforms and some Australian comparisons
The UK Insolvency Service is to be given powers to investigate directors of companies that have been dissolved, or in ...
An insolvency safe harbour based on culture and tradition?
For years Australia had no ‘safe harbour’ protection for directors from insolvent trading. In 2017, one was introduced, then three ...
World Bank insolvency principles – how does Australia compare?
The World Bank has released its updated Principles for Effective Insolvency and Creditor/Debtor Regimes (the Principles), emphasising the needs of ...
The UK’s Technical Guidance for Official Receivers – a published resource for Australian practitioners and regulators
The Insolvency Service in the UK has issued an updated version of its Technical guidance for Official Receivers[1] in administering ...
NSW registered clubs (law) in trouble, again
What are described as the “arbitrary powers of the NSW Independent Liquor & Gaming Authority (ILGA)” are the subject of ...
Move bankruptcy from the Attorney-General to Treasury?
In light of the Attorney-General’s need to transfer some matters of his responsibility, a worthy area to transfer is the ...
Appeals from sequestration orders made by registrars – continued
An appeal from a sequestration order made by a registrar in 2016 is being heard, in 2021. In bankruptcy litigation ...
Double suspension as a liquidator and as a trustee
An experienced Australian insolvency practitioner (IP) has had his right to practise as a liquidator suspended by a Court for ...
Apprehensions of the fair-minded lay observer – a law reform review of judicial impartiality
The Australian Law Reform Commission has been asked to undertake a review of the laws relating to impartiality and bias ...
A proposed change of focus of the Australian Official Trustee in Bankruptcy
The Australian Official Trustee in Bankruptcy (OT) has sought comment on a significant refocus of its legal responsibilities by way ...
The directors of Kids Company – “actions of public bodies do not have the effect of dissuading able and experienced individuals from becoming or remaining charity trustees”
A significant English High Court decision has been given refusing to make banning orders against trustees (directors), and the CEO, ...