New Zealand insolvency practitioner regulation – possible delay
The new corporate insolvency practitioner licensing regime in New Zealand, due to start in July 2020, may be put off for one year. The Insolvency
09/04/2020
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 been correct, or correctly explained
04/04/2020
New Zealand’s COVID-19 insolvency measures – safe harbour; debt hibernation
The New Zealand Government has announced it will be introducing legislation to make changes to the Companies Act to help companies facing insolvency due to
03/04/2020
Latest corporate insolvency update in Australia
Apart from its interest to Australian liquidators and bankruptcy trustees, the latest Corporate Insolvency Update[1] of the corporate insolvency regulator, ASIC, will be of interest
03/04/2020
Case adjourned for COVID-19 health and property value concerns
A son’s claim under the ACT Family Provision Act 1969 sought a life interest in property of his deceased mother, which had been left to
03/04/2020
Australia’s new fortnightly ‘COVID-19’ personal insolvency statistics
The Australian bankruptcy trustee and regulator AFSA has started to release fortnightly statistics on personal insolvencies in Australia[1] to assist in monitoring the economic and
02/04/2020
‘Unhappy’ delay in an insolvent winding up
A NSW Judge was ‘unhappy’ about delay in a solvency report being prepared for the defendant, in response to what had become a creditor’s ‘aged’
02/04/2020
Reform of insolvency communications by email, and beyond
Corporate insolvency law in Australia concerning communications with creditors needs modernising, and well beyond what is available in 2020. When early cars, then termed locomotives,
01/04/2020
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 enable it to address various
01/04/2020
Managing the insolvency curve – a new government role is needed?
There is expected to be a wave of businesses and individuals going into liquidation or bankruptcy despite the huge financial measures being taken by the
31/03/2020
Just when we have some creditor activism in insolvencies …
Will the current extreme crisis we confront finally stir insolvency creditor activism, but in the wrong way? or further dampen it? Just as the drum
29/03/2020
Changes to Australia’s insolvency laws – some different perspectives
The recent changes to Australia’s insolvency laws are being well explained by the experts. These are some comments from me both on the changes and
24/03/2020
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 and those involved in it
14/03/2020
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 relegated to a pari passu
13/03/2020
The proportion of insolvency practitioners who are women
Around the time of International Women’s Day and more generally there is often discussion about the low proportion of women registered as liquidators or trustees
10/03/2020
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 the UK. In its reliance
09/03/2020
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 all – the government has
08/03/2020
Protected: AFSA’s report on remuneration
There is no excerpt because this is a protected post.
05/03/2020
AFSA’s report on insolvency practitioner remuneration
AFSA has produced a report on insolvency practitioner remuneration – Registered Trustee Remuneration in the Personal Insolvency System – Best practice report 2020 – offering
05/03/2020
Obligations to whistleblow
Journalists and accountants among others are obliged by NSW law to ‘whistleblow’ – to report to the police – if they know of the commission
02/03/2020
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 yet to be implemented. These
01/03/2020
Three liquidators for three intertwined companies
A Judge appointed individual liquidators to three separate companies – OT, AGM and Ozifin – rather than a common liquidator for all of them, even
26/02/2020
ASIC’s initial claim of illegal phoenix activity by a liquidator now the subject of a 160 page statement of claim
This post is further updated on 26 February 2021 to reflect that ASIC filed its statement of claim against Mr Bettles on 19 February. Orders
26/02/2020
Winding up a foreign company – Blumenthal’s Tipsy Cake
Tipsy Cake was wound up on 12 February 2020, having had provisional liquidators appointed on 20 December 2019, who then became the liquidators. The company
25/02/2020
