Three year ‘imprisonment’ for bankruptcy debt

Australia has historically been seen as severe in its approach to unpaid debt and opposition to changing the 3 year period of time before bankruptcy discharge indicates that this sentiment is still strong; unless there are other agenda$ at play. As an example, the colony of Victoria was one of the last jurisdictions in the […]

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 on the one hand, and creditors’ voluntary liquidations (CVLs), both solvent and insolvent, on the other. An accident of insolvency history, as an early edition of Ford says, though perpetuated for over 100 years. The […]

Murrays Legal closes on 31 December 2019 and reopens on 1 January 2020

As to which, readers will be aware that “[t]he beginning of a day is nothing but the end of the day before, and the end of the day is nothing but the beginning of the next …”: Prowse v McIntyre [1961] HCA 789; and “[t]hus all beginnings of days and all ends of days fall […]

A running account of insolvency history – the lawyers and the accountants

In an account of the interaction between lawyers and the newly titled accountants in 19th century England, it has been explained that while accountants were listed among those being able to conduct the administration of estates under the 1831 Bankruptcy Act, lawyers were not included.[1] The account continues: “The absence from this list can be […]

Revised draft of Australia’s 2014 insolvency code of practice

ARITA has released a consultation draft of its Code of Professional Practice for Insolvency Practitioners. This will be the 4th edition, it being over 10 years since the 1st edition appeared in 2008. ARITA asks for comments by 18 February 2019, with a view to the new version of the Code starting on 1 July […]

Bankruptcy in Canada in the 1930s

Articles on this website generally attract reduced readership if they are about bankruptcy rather than liquidation; or if they are about overseas law rather than local; or if they go into history, rather than the present. This article covers all three – nevertheless an interesting paper[1] on the history of Canadian bankruptcy law in the […]