Courts professions and regulation
New UK Insolvency Code of Ethics
A new version of the Insolvency Code of Ethics will apply from 1 May 2020 to all insolvency practitioners in ...
A regulator’s report on insolvency practitioner remuneration
Australia’s bankruptcy trustees receive an average of $4,800 in administering each estate, with 63% of estates paying no remuneration at ...
AFSA’s report on insolvency practitioner remuneration
AFSA has produced a report on insolvency practitioner remuneration – Registered Trustee Remuneration in the Personal Insolvency System – Best ...
Obligations to whistleblow
Journalists and accountants among others are obliged by NSW law to ‘whistleblow’ – to report to the police – if ...
The proposed reinvigoration of the UK’s business rescue culture through ‘recalibration of the balance of power’ – some steps too far for Australia?
A recent academic article from the UK has reviewed proposed restructuring reforms announced by the government in August 2018, although ...
Three liquidators for three intertwined companies
A Judge appointed individual liquidators to three separate companies – OT, AGM and Ozifin – rather than a common liquidator ...
ASIC’s initial claim of illegal phoenix activity by a liquidator now the subject of a 160 page statement of claim
This post is further updated on 26 February 2021 to reflect that ASIC filed its statement of claim against Mr ...
What has happened to the proposed beneficial ownership of shares register?
A review of the ASIC Annual Report 2018 by a parliamentary committee was tabled only in February 2020. The report ...
Cross-border insolvency hearing between Australia and New Zealand
The Federal Court of Australia requested the High Court of New Zealand to help it jointly hear applications on 18 ...
A review of Australia’s insolvency practitioner regulation system
Given a choice between a good insolvency law and poor practitioners, and good practitioners and a poor insolvency law, the ...
The new law’s limitations in controlling phoenix misconduct
The new anti-phoenix laws, so welcomed in certain quarters, will come up against some business and personal behaviours that are ...
Independence of debtors’ chosen liquidators
If directors apply to the court have their company wound up in insolvency, or in fact support an application for ...
Don’t be too harsh on non-compliant directors of failed companies?
The laws regulating the conduct of directors of companies in liquidation and laws regulating persons who go bankrupt exist in ...
Million pound fines for breach of insolvency standards
The million pound fining of an insolvency firm and its administrators by the English accounting body ICAEW illustrates the differences ...
A pointless distinction in corporate insolvency
In the 19th century, where much corporate insolvency law thinking still remains, a distinction was made between court ordered liquidations ...
Dangers in liquidators running a ‘skinny case’
” … it might not be seen to be unreasonable [for insolvency practitioners] to avoid expending funds producing affidavits in ...
ARITA’s response to the Ombudsman’s small business insolvency inquiry
ARITA has offered a 60-page submission to the Ombudsman’s inquiry, which, given the quality of the inquiry, may be rather ...
A liquidator disciplinary decision – some regulatory insights
A decision of a tribunal in Australia gives some insight into the insolvency practitioner discipline processes introduced in 2017, which ...
Selfies of Australian insolvency practitioners – not looking good …?
A recent Australian academic thesis reveals an insolvency industry comprising practitioners with low self-identity, lacking in self-confidence and with a ...
The 2020 insolvency practitioner codes
New insolvency practitioner codes have issued in Australia, with the UK and NZ perhaps not far behind. It remains to ...
Bankrupt’s continued liability for costs
A court has refused parties’ request to retrospectively make an order for costs to avoid the consequences of a time ...
Insolvency R&B law reform ideas
While the ASBFE Ombudsman, ARITA and others are looking at insolvency law reform, including for SMEs, they will no doubt ...
Insolvency data sharing and access?
A number of academics, including myself, made a submission to the Data Commissioner’s Data Sharing and Release Legislative Reforms Discussion ...
An insolvency safe harbour in New Zealand?
As Australia is about the review the first two years of operation of its 2017 safe harbour reforms,[1] New Zealand ...
