Insolvency returns to creditors and other fictions
Insolvencies average dividend returns to unsecured creditors of under 5 cents in the dollar, in some cases, under 1 cent. For your unpaid debt of
14/06/2019
The Alternative Financial Review
Property prices Perth ‘as good as it’s likely to get’ for rental affordability With little new housing stock – especially at the lower end –
02/06/2019
A bankrupt’s list of ‘personal’ assets
The law requires those people in bankruptcy to record their assets and liabilities in a ‘statement of affairs’. It is an important document because the
26/05/2019
Some concession for small business bankruptcy under severe NSW law
NSW law can remove a person’s right to practice their job for up to 6 years, in the person has gone bankrupt, well beyond what
24/05/2019
Insolvency Law Bulletin
The latest Insolvency Law Bulletin will be out shortly, covering a range of current cases and issues in both personal and corporate insolvency. The ‘reviewing
22/05/2019
A running account of insolvency history – the lawyers and the accountants
In an account of the interaction between lawyers and the newly titled accountants in 19th century England, it has been explained that while accountants were
13/05/2019
ASIC’s “significant element of vexation”
ASIC has failed in an application to have an inquiry conducted into joint liquidators’ conduct – Hurst and Wily – in respect of companies that
11/05/2019
Unclaimed bankruptcy moneys – new law
Easier processes to recover unclaimed moneys in bankruptcy commence at the end of June 2019. The Official Receiver in Bankruptcy will be able to decide
29/04/2019
Insolvency and climate change and environmental liabilities
INSOL Academics in Singapore on 1-2 April 2019 and the following day’s meeting of academics at the National University of Singapore provided a number of
24/04/2019
An inquiry into a liquidator’s conduct, some many years ago
ASIC has succeeded in obtained a court order for an investigation of the conduct of a liquidator, in relation to liquidations going back to 2001,
24/02/2019
Keay’s Insolvency – note from the authors – progressive updates since publication
As the authors of Keay’s, and in order to assist readers, we propose to make brief reference to law changes or case law decisions that
24/02/2019
Report on targeting of people in financial hardship
The Economics References Committee has issued its report, on time, following its inquiry into ‘Credit and hardship: report of the Senate inquiry into credit and
22/02/2019
ASIC’s review of liquidators for 2017-2018 – continued fall in complaints
This ASIC Report 610 has been released, with some interesting points to note, and questions raised. It largely expands on the reporting component in the
22/02/2019
Bills subject to scrutiny
That a bill is introduced into parliament after an extensive period of community consultation does not necessarily mean that it will proceed into law without
20/02/2019
Litigants in person – issues for judges
Judges have to be careful about making public statements on current issues that may allow claims of bias. There can also be matters in which
20/02/2019
The Hayne Report – lessons for lawyers – Australian Academy of Law event
The relevance of the ‘Hayne Report’ for the legal profession is the subject of the first of the Australian Academy of Law’s events in Sydney
15/02/2019
Director identity number bill now before parliament
A number of bills broadly concerning the registers of information held by the Commonwealth have been referred to the Senate Standing Committee on Economics for
15/02/2019
Building security of payment laws – the impact of the claimant’s insolvency
Now that we have some consistent security of payment laws across the states and territories protecting building sub-contractors, there is a need for the various
15/02/2019
Litigation ‘for the benefit of creditors’ – really?
How much do unsecured creditors receive out of a liquidation or bankruptcy from any ‘successful’ judgment obtained by the liquidator or trustee under their vast
14/02/2019
The future of the insolvency ‘profession’
I was pleased to have given a presentation on the future of the insolvency profession, at Griffith University’s excellent Professional Futures Conference on 6-7 February
12/02/2019
Assessment of liquidators’ remuneration, with help from a band of experts
The decision of Justice Besanko of the Federal Court in Lock, in the matter of Cedenco JV (No 2) [2019] FCA 93 mainly concerns the
12/02/2019
Insolvency administrator’s lack of attention to the sale of complex assets
A UK insolvency administrator has been found to have acted in breach of his duties to a broadcasting company, some 8 years after the conduct
12/02/2019
Coshott – a field of study?
Robert Gilbert Coshott was made bankrupt on 7 November 2008: see Shipton Lodge Cobbitty Pty Ltd v Coshott (No.2) [2008] FMCA 1552. There are then
11/02/2019
Last minute attempts to avoid a business being liquidated
When directors appoint a voluntary administrator the day before their company is before the court on a creditor’s winding up application, a certain scepticism exists
11/02/2019
