Inquiries conferences and reports

The potential for conflicts of interest in professional co-regulation

Referrals to a disciplinary committee of two senior insolvency practitioners with connections prompt my further explanations of Australia’s insolvency practitioner …

Extension of insolvent trading concessions – flake news?

Someone government person called Andrew is saying that the insolvent trading protections for directors will be extended beyond 25 September …

Funding of insolvency claims – the PJC inquiry: revised

A submission by Adelaide academics in relation to insolvency litigation funding came before the Parliamentary Joint Committee on 24 July, …

Ombudsman’s company insolvency recommendations

The ASBFEO (Ombudsman) has asked that the government fix what is said to be a broken corporate insolvency system in …

Company deregistration – government’s fast track response to assetless companies

Fast-tracking insolvent assetless companies through a default de-registration process was introduced, in effect, by the Insolvency Law Reform Act 2016 …

How is Australia’s safe harbour from insolvent trading working? some survey results

An article by Professor Ian Ramsay and Associate Professor Stacey Steele has just been published reporting on survey responses of …

Regulation of insolvency practitioners by accounting bodies

The outcomes of co-regulation of UK insolvency practitioners are explained in a May 2020 report of the ICAEW, with some …

Australian Small Business Ombudsman’s ‘COVID-19 Recovery Plan’ – ‘turnaround and insolvency’

The Australian Small Business and Family Enterprise Ombudsman has issued a COVID-19 Recovery Plan, of May 2020. Within that the …

Crime and insolvency, Australian style

There is not much correlation between crime and insolvency, in my researches, certainly in comparison with crime in the world …

Surveys of Australian insolvency and turnaround professionals

An early survey of insolvency professionals in Australia in relation to the impact of COVID-19 reveals an apparent contradiction, that …

Insolvency practitioner independence – law and practice

One of Australia’s insolvency bodies, ARITA, has issued a reminder to its members about the need for liquidators to maintain …

Some thinking about insolvency pre-packs, panels and more

In a newspaper article of 20 April 2020* promoting a new ‘restructuring business’, some ‘new thinking’ is offered on changes …

Lost in my translation – correction to bankruptcy trustee remuneration statistics

AFSA has properly drawn to my attention that figures I have given about the remuneration of bankruptcy trustees have not …

ARITA’s ‘bushfire and COVID-19’ request to government for funding

ARITA – the main Australian industry body representing insolvency practitioners and lawyers – has asked the government[1] for funding to …

How to best handle a major airline collapse

When a government sets up an inquiry into how to deal with the insolvency of a certain industry, the industry …

Australia’s inconsistent tax and insolvency laws

Recent research has revealed that although the Australian Taxation Office (ATO) lost its priority in insolvencies in 1993, and was …

New UK Insolvency Code of Ethics

A new version of the Insolvency Code of Ethics will apply from 1 May 2020 to all insolvency practitioners in …

A regulator’s report on insolvency practitioner remuneration

Australia’s bankruptcy trustees receive an average of $4,800 in administering each estate, with 63% of estates paying no remuneration at …

Obligations to whistleblow

Journalists and accountants among others are obliged by NSW law to ‘whistleblow’ – to report to the police – if …

The proposed reinvigoration of the UK’s business rescue culture through ‘recalibration of the balance of power’ – some steps too far for Australia?

A recent academic article from the UK has reviewed proposed restructuring reforms announced by the government in August 2018, although …

A not so simple fix for franchise insolvency?

The financial collapse of a franchisor can have a severe impact on its franchisees but a “simple fix” proposed to …

What has happened to the proposed beneficial ownership of shares register?

A review of the ASIC Annual Report 2018 by a parliamentary committee was tabled only in February 2020. The report …

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 …

Don’t be too harsh on non-compliant directors of failed companies?

The laws regulating the conduct of directors of companies in liquidation and laws regulating persons who go bankrupt exist in …