Law reform

Regulation of firms offering insolvency services

Further to my earlier post on insolvency practitioner (IP) regulation in the UK, and contrary to expectations,[1] the UK government

Insolvent Trading and Minimal Returns to Creditors in Liquidations

This is a brief response to a well-researched and thoughtful article by Associate Professor Mark Wellard – Insolvent Trading: Director

Some insolvency law reform ideas from Scotland and New Zealand

“ … the state is, effectively, paying insolvency practitioners to end the life of small companies … a sub-optimal solution

The cross-border regulation of insolvency practitioners – insights from INSOL Tokyo

I was invited to present at the INSOL International Academic Colloquium on 12 September 2023 in Tokyo on the panel

Public interest supports time extension for insolvency recovery action

Litigation claims brought by insolvency practitioners (IPs) are not like the usual commercial claims on behalf of a commercial, or

ASIC v Jones [GD Pork] – insolvency practitioner independence and pre-insolvency advice

A court decision concerning insolvency practitioner independence and pre-insolvency advice usefully raises issues recommended for law reform review by the

The government halts its Modernising Business Registers Program after an independent review

The federal government has announced it will stop its Modernising Business Registers (MBR) program following independent review findings that the

NZ Supreme Court confirms Mainzeal directors’ liabilities for over NZ$39 million

The Supreme Court of New Zealand has dismissed directors’ appeals from a finding that they must pay over NZ$6 million

PJC Recommendation – Pre-Insolvency Advisers – Part 1: summary

The full article on this topic of 1800 words, for those interested, looks that the PJC Report recommendations about “untrustworthy

PJC recommendation – pre-insolvency advisers – Part 1

The PJC Report on Corporate Insolvency 2023 has responded to concerns expressed about “untrustworthy pre-insolvency advisers”, those that are said

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,

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

What does our insolvency system produce? [re-issued July 2023]

31 March 2022 Many of us who call for a major review of our insolvency laws must know that the

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

Principles of Regulation of Insolvency Practitioners – an international standard

This comment was issued in October 2018; it is re-issued in May 2023, but not updated, for interest. The rather