Inquiries conferences and reports
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 ...
ASIC’s report on small business corporate restructurings under Part 5.3B
I am dubious about many of the outcomes touted for insolvency “restructurings”, or at least without the negative outcomes reported ...
Bankruptcy data 2021-2022 – rates of return, fees etc
At the end of 2022, AFSA quietly released detailed data on the operation of the personal insolvency system in 2021-2022. ...
Business bankruptcies – 6,000 to 9,000 each year
Given that ‘small business’ itself is defined in various ways, none of which is based on the legal structure of ...
Failing fast … five hundred and something days to wrap up a business?
At the PJC inquiry into corporate insolvency, in the context of the 2015 Productivity Commission (PC) Report on Business Entries ...
Parliamentary insolvency inquiry – the business model of insolvency firms
Some fundamental issues about the operation of insolvency law and practice are being raised in the joint parliamentary committee inquiry ...
