Inquiries conferences and reports

Sunlight on pre-insolvency advisers

Updated 14.8.23: While pondering the 2023 Parliamentary Joint Committee’s recommendations about pre-insolvency advisers, I am reminded to go back to

UK personal insolvency reforms – summary of responses and next steps

In my comments of July 2023 following, I reviewed the 2022 call for evidence in the UK on reform of

Businesses are rarely neatly arranged when insolvency strikes

While the government is thinking about the various recommendations of the PJC Report[1] about improving our current corporate insolvency laws,

ASIC beleaguered – updated

Updated 29 July 2023. Given the number of current and on-going inquiries into ASIC, it is as if the regulator

Liquidator remuneration is “a perfect example of the many competing interests that arise in a liquidation” …

and is “indicative of broader systemic factors within the insolvency system itself …”. The recent PJC Report on corporate insolvency

Looking more at deregistered companies

“Enforcement agencies have long been aware of the role that the abandonment [deregistration] of companies plays in illegal phoenix activity.

Thoughts on the PJC’s Corporate Insolvency Report

The Parliamentary Joint Committee on Corporations and Financial Services (‘PJC’) handed down its Report into Corporate Insolvency in Australia on

Offence reporting by insolvency practitioners

What is said to be the limited response by ASIC to corporate misconduct reports by liquidators is the subject of

UK insolvency practitioners to come under direct government regulation

At the same time that the chair of the Australian PJC inquiry into corporate insolvency, Senator Deborah O’Neill, said that

Gender, and diversity, in insolvency practice, continued

The July 2023 PJC report into corporate insolvency[1] makes recommendations on the “problem” of the limited female representation among liquidators,

UK’s review of its 2020 insolvency law reforms, with Australia compared

The quality of a recent UK review of its 2020 insolvency law reforms is compared with the approach taken in

Increase in Australian insolvency numbers

Personal insolvency numbers show a continued increase in numbers but still well below past figures; on the other hand, corporate

Should the firms of insolvency practitioners be regulated, along with the practitioner?

While Australia is currently focusing on the standards of conduct of accounting firms, and their partners – see Ethics and

Personal insolvency statistics – March quarter increase; April monthly decrease

There is good and bad news in the latest personal insolvency statistics from AFSA. March quarter increase The full March

The respective complexities of corporate and personal insolvency

A question on notice of 1 March 2023 was asked by the chair of the Parliamentary Joint Committee on Corporate

Anti-money laundering laws to be improved, including registers of beneficial owners

The 2023 budget has allocated funds for action on Anti‐Money Laundering and Counter‐Terrorism Financing (AML) laws, including a beneficial ownership

World Bank’s B-Ready Report on country business systems, including on the efficiency of corporate insolvency systems

This explains the World Bank’s new Business Ready initiative, which will report on the business systems of up to 180

Personal insolvency statistics – March 2023 – beginnings of an increase?

The latest personal insolvency statistics released by AFSA for March 2023 show an increase in number over February but still

Insolvency law reform in Australia – three underlying concerns

With over 70 submissions from a wide variety of stakeholders and numerous answers to questions on notice, the parliamentary joint

Personal insolvency numbers – an increase or a decrease?

While AFSA reports that personal insolvencies increased in number in February 2023, to 796, from 772 in January, this was

ASIC’s insolvency law enforcement role

The Senate Economics References Committee is loading up submissions received on its reference into ASIC’s capacity and capability to “undertake

Attorney-General’s Roundtable on Personal Insolvency

A summary of priority issues discussed at the Attorney-General’s personal insolvency law reform roundtable held on 2 March 2023 has

Personal insolvency reform in Australia

The government is convening a “national roundtable with key stakeholders” on 2 March 2023 in relation to personal insolvency law

How low can we go – funding the insolvencies of assetless estates

Obvious as it is to say, insolvency involves limited or no money, and how to fund its existence as a