This is a short historical background to the increasing non- or late payment of tax mainly by small businesses – owing over $33 billion of
AFSA advises that the Bankruptcy Amendment (Discharge from Bankruptcy) Act 2023 (Cth), came into force on Thursday 23 November 2023. See Bankruptcy Act amendment | Australian
Former Federal Court judge Steven Rares is reported in the AFR[1] as having made several comments about the justice system in Australia, including about the
The Bankruptcy Amendment (Discharge from Bankruptcy) Bill 2023 has been introduced into parliament. It has presumably been drafted by the Office of Parliamentary Counsel (OPC).
Insolvent trading is one of the many items for review recommended by the Parliamentary Joint Committee report on Corporate Insolvency. ASIC is updating its guidance
A recent article in the Australian Business Law Review – Not in isolation: The Rationale for a Combination of Business Structures in Australia[1] – analyses
What started out as a minor dispute over plumbing work for $2,880 descended into the plumber obtaining a judgment for $11,190 against the customer –
When you are employed by your spouse’s company, and you attempt to resist bankruptcy based on your remuneration and support from that company, things can
In dealing with an unmeritorious bankruptcy law appeal, a Federal Court Judge has made a suggestion to limit appeal rights in order to avoid a
ASIC’s ASIC Annual Report 2022–23 has been released amidst some recent severe criticism of the quality of its annual reports over the years, in relation
Further to my earlier post on insolvency practitioner (IP) regulation in the UK, and contrary to expectations,[1] the UK government has backed away from replacing
Evidence before the Parliamentary Joint Committee inquiry into Ethics and Professional Accountability [1] (PJC inquiry) may assist in considering the gender imbalance recommendation of the
Following the appointment by the New Zealand High Court of Australian voluntary administrators of Probis as New Zealand interim liquidators of one of Probis’ creditors,
This is a brief response to a well-researched and thoughtful article by Associate Professor Mark Wellard – Insolvent Trading: Director Accountability for Minimal Returns to
“ … the state is, effectively, paying insolvency practitioners to end the life of small companies … a sub-optimal solution ….” “the standard liquidation process
The ACCC has issued new penalty guidelines – Guidelines on ACCC approach to penalties in competition and consumer law matters Three queries from my perspective One,
I was invited to present at the INSOL International Academic Colloquium on 12 September 2023 in Tokyo on the panel concerning ‘Insolvency Professionals’, along with
Litigation claims brought by insolvency practitioners (IPs) are not like the usual commercial claims on behalf of a commercial, or government, client. Despite marginal returns
In Insolvency licensing bodies confirmed for New Zealand’s new regulatory regime – Murrays Legal, of August 2020, I explained the new liquidator licensing regime in
This commentary has now been updated. See The cross-border regulation of insolvency practitioners – Murrays Legal ============================================== I was pleased to speak at the INSOL
A court decision concerning insolvency practitioner independence and pre-insolvency advice usefully raises issues recommended for law reform review by the Parliamentary Joint Committee Report on
The Federal Court has fined BlueScope Steel $57 million for cartel conduct under the Competition and Consumer Act 2010 (Cth) (CCA), after attempting to collude
There was a total of 9,930 personal insolvencies in Australia in the 2022–23 financial year – around 4% higher than the 2021–22 annual figure of
The federal government has announced it will stop its Modernising Business Registers (MBR) program following independent review findings that the program could not deliver value
