Courts professions and regulation
Some thinking about insolvency pre-packs, panels and more
In a newspaper article of 20 April 2020* promoting a new ‘restructuring business’, some ‘new thinking’ is offered on changes ...
Cryptoassets, hot and cold wallets, and a liquidation
Was cryptocurrency ‘property’ of a company in liquidation, and was it held on trust for the accountholders? Cryptopia Ltd (in ...
New Zealand insolvency practitioner regulation – possible delay
The new corporate insolvency practitioner licensing regime in New Zealand, due to start in July 2020, may be put off ...
Lost in my translation – correction to bankruptcy trustee remuneration statistics
AFSA has properly drawn to my attention that figures I have given about the remuneration of bankruptcy trustees have not ...
New Zealand’s COVID-19 insolvency measures – safe harbour; debt hibernation
The New Zealand Government has announced it will be introducing legislation to make changes to the Companies Act to help ...
Australia’s new fortnightly ‘COVID-19’ personal insolvency statistics
The Australian bankruptcy trustee and regulator AFSA has started to release fortnightly statistics on personal insolvencies in Australia[1] to assist ...
ARITA’s ‘bushfire and COVID-19’ request to government for funding
ARITA – the main Australian industry body representing insolvency practitioners and lawyers – has asked the government[1] for funding to ...
Managing the insolvency curve – a new government role is needed?
There is expected to be a wave of businesses and individuals going into liquidation or bankruptcy despite the huge financial ...
Just when we have some creditor activism in insolvencies …
Will the current extreme crisis we confront finally stir insolvency creditor activism, but in the wrong way? or further dampen ...
The proportion of insolvency practitioners who are women
Around the time of International Women’s Day and more generally there is often discussion about the low proportion of women ...
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 ...
