Cross-border and international
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, ...
Australia’s “practical insolvency regime … sometimes more of a rough and ready process and not an exact science … a trade-off …”
The Federal Court has dismissed a challenge to deeds of company arrangement of two property development companies and not put ...
Australian personal insolvency reform for COVID-19 impacted debtors
The Australian government’s proposed retention of the restrictions of bankruptcy on COVID-19 impacted business proprietors and consumers is questionable, but ...
Liquidator’s registration suspended not cancelled, by agreement
In A liquidator disciplinary decision – some regulatory insights | Murrays Legal Commentary , I reported an AAT decision refusing ...
New Zealand and Australian voluntary administration law
New Zealand adopted Australia’s Part 5.3A voluntary administration regime some years ago, in Part 15A of its Companies Act 1993. ...
‘Modernising’ insolvency communications
The Australian government’s consultation paper – Modernising Business Communications – Improving the Technology Neutrality[1] of Treasury Portfolio Laws, of December ...
Australian root and branch bankruptcy reform – creditors’ rights? Elizabeth (Ist) laws? SMEs? …
While COVID-19 restrictions on creditors in bankruptcy have ended, though now with an increased $10,000 threshold, the experience should prompt ...
Australia’s new liquidator registration processes, and its ‘new liquidators’
On 30 December 2020, ASIC issued guidance on the new liquidator registration processes that apply in Australia two days hence ...
Bad bankruptcy notices
A bankruptcy notice was found to have been wrongly issued by the Official Receiver because it did not attach a ...
The Law of Bankruptcy Notices and Creditors’ Petitions, by Nicholas J Simpson, 2020 – a book review
This is a very good and topical Australian text, adequately and accurately described by its title. My review of it ...
The financial viability of personal insolvency practice in Australia
The Australian bankruptcy regulator – AFSA – has been making inquiries about the financial health of bankruptcy trustee firms during ...
Reinventing Bankruptcy Law – Virginia Torrie
This is a very good book on Canadian insolvency law, sadly with no equivalent in Australia, as I explain below. ...
Australia’s litigation funding market a ‘global hotspot for international investors … many based in tax havens and with dubious corporate histories’ with returns of ‘more than 500%’
The tone and findings of this 454 page report by the Parliamentary Joint Committee on Corporations and Financial Services – Litigation ...
The ‘powerhouse’ of small and medium enterprises and their recovery ‘boosted’ by our new insolvency laws
Interesting to know from what [limited] bases journalists get their views … ‘Finally, a fair go for small suppliers’, R ...
Corporations Amendment (Corporate Insolvency Reforms) Act 2020 No 130 of 2020
This is now law, with a date of assent of 15 December 2020, and with a commencement date for most ...
Bankruptcy threshold to be increased from $5,000 to $10,000
The Australian government has not been ignoring personal insolvency reform in 2020, despite its recent small business reforms dealing only ...
NZ’s measured review of class actions and litigation funding, noting Australia’s ‘polarised’ debate
The New Zealand Law Commission has commenced a 2 year inquiry into litigation funding and class actions, right at the ...
Does small business count?
This Ombudsman’s follow up report – Small Business Counts – examines small to medium business enterprises (SMEs) from an economics ...
Australia’s corporate SME insolvency law may soon become law – and then….
The Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 progressed through a third reading in the Australian parliament on 8 December ...
Corporate insolvency reforms 2020 – referred to a committee?
Report No 11 of 2020 of the Senate’s selection of bills committee of 3 December 2020 has considered the Corporations ...
Australian insolvency practitioner disciplinary decisions – short but to what point?
This report of two insolvency practitioner disciplinary decisions in Australia will be brief because the decisions, or their publicly released ...
Bankruptcy seems to be the hardest word
The government has not said anything about insolvency law reform for financially struggling individual small business operators among its claimed ...
SME insolvency – an alternative approach
Small business enterprises (SME) in Australia are conducted through the full range of legal entities available – sole traders, partners, ...