Cross-border and international

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 …

Why do we have preference recoveries in insolvency?

In finding that the ‘peak indebtedness rule’ did not in fact exist, the Full Federal Court[1] in Badenoch v Bryant …

Silos

Electronic delivery of documents in insolvency law

Some belated concern has been raised about the potential for new corporate insolvency law allowing a winding up demand to …

DOCAs – should ‘not much of a return to creditors but better than the liquidation alternative’ be enough?

The WA Supreme Court has dismissed a challenge to deeds of company arrangement (DOCAs) that offered ‘not much of a …

Insolvent trading convictions set aside on mental health grounds

Following convictions and imprisonment for insolvent trading arising from the 2009 collapse of Kleenmaid, its founder, Andrew Young, has succeeded …

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 …

Why has the Australian government not yet decided on any further insolvency law changes for small business?

Australia MSE insolvency reform process seems to have halted, perhaps because of a poor reception to its January 2021 small …

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, …

Silos

Service of insolvency documents by email

With law well into the process of change to accommodate electronic communications and dealings, following COVID-19 in particular, we should …

Is bankruptcy a life and death issue?

I was startled to be reminded of a regular question in the well-known US General Social Survey whether contemplating or …

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 …

Peak indebtedness and other insolvency law views from New Zealand

The decision of the Full Federal Court in Badenoch Integrated Logging v Bryant[1] agreeing with New Zealand’s view about the …

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 …

Australia’s limited insolvency reforms for small business

With our international trading partners recently meeting to examine ways to handle micro to small enterprise (MSE) insolvency impacted by …

Bankruptcy trustee independence

The Australian personal insolvency regulator and government trustee, AFSA, has produced a useful report – Practitioner Independence in the Personal …

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 …

What is the future of insolvency practice?

The future of insolvency practice lies in artificial intelligence (AI) which this article discussed.  A list of selected articles and …

Australian lawyers attending UNCITRAL’s Working Group V on MSME insolvency – May 2021

UNCITRAL’s Working Group V – Insolvency is reconvening this week 4-7 May 2021, following its last meeting in December 2020. …

Silos

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 …

Penalties and bankruptcy

A person in breach of consumer protection laws concerning the hire of  4 wheel drive vehicles has been ordered to …