Disclosure of business tax debts to credit agencies
Law allowing the Australian Taxation Office (ATO) to disclose tax debt information of businesses – corporate and personal, over AU$100,ooo in debt – to registered
22/02/2020
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 has a section headed: ‘What
21/02/2020
Cross-border insolvency hearing between Australia and New Zealand
The Federal Court of Australia requested the High Court of New Zealand to help it jointly hear applications on 18 February relating to the pooling of
21/02/2020
A review of Australia’s insolvency practitioner regulation system
Given a choice between a good insolvency law and poor practitioners, and good practitioners and a poor insolvency law, the latter is preferred. Australia seems
18/02/2020
Independence of debtors’ chosen liquidators
If directors apply to the court have their company wound up in insolvency, or in fact support an application for winding up, should there be
11/02/2020
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 period of time before bankruptcy
09/02/2020
Does insolvent trading work? The UK may not think so.
In the context of the review of the safe harbour provisions in Australia, there have been recent articles on insolvent trading – s 588G –
09/02/2020
A deferred tax debt can remain due and payable
If a company owing a debt enters into an agreed payment arrangement with the creditor, that can serve to defer that debt as being ‘due
08/02/2020
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 two different universes, consistent with
07/02/2020
Million pound fines for breach of insolvency standards
The million pound fining of an insolvency firm and its administrators by the English accounting body ICAEW illustrates the differences between the UK’s insolvency co-regulatory
06/02/2020
A pointless distinction in corporate insolvency
In the 19th century, where much corporate insolvency law thinking still remains, a distinction was made between court ordered liquidations on the one hand, and
06/02/2020
Review of Australia’s insolvency safe harbour – s 588GA
Australia’s ‘safe harbour’ regime under s 588GA is due for review, since September 2019, as to whether it offers the right balance between creditor compensation
03/02/2020
Dangers in liquidators running a ‘skinny case’
” … it might not be seen to be unreasonable [for insolvency practitioners] to avoid expending funds producing affidavits in relation to issues which might
31/01/2020
All over a rooster
A bankrupt who claimed that noise attributed to her unauthorised rooster was in fact made by her peacock, which was disturbed by someone pulling feathers
30/01/2020
Special administration of an Aboriginal Corporation – Urapuntja Health
A major Aboriginal corporation in Australia’s Norther Territory – the Urapuntja Health Service Aboriginal Corporation – has been placed under the control of “special administrators”
29/01/2020
ARITA’s response to the Ombudsman’s small business insolvency inquiry
ARITA has offered a 60-page submission to the Ombudsman’s inquiry, which, given the quality of the inquiry, may be rather excessive but is nevertheless useful.
28/01/2020
A liquidator disciplinary decision – some regulatory insights
A decision of a tribunal in Australia gives some insight into the insolvency practitioner discipline processes introduced in 2017, which replaced, in corporate insolvency, a
24/01/2020
Selfies of Australian insolvency practitioners – not looking good …?
A recent Australian academic thesis reveals an insolvency industry comprising practitioners with low self-identity, lacking in self-confidence and with a limited outlook. The thesis research
22/01/2020
The 2020 insolvency practitioner codes
New insolvency practitioner codes have issued in Australia, with the UK and NZ perhaps not far behind. It remains to see whether the codes are
16/01/2020
Ombudsman’s insolvency inquiry and the nature of small business debt
The Australian Small Business and Family Enterprise Ombudsman has written a newspaper article about the ‘Insolvency Practices Inquiry’ in the context of the impact of
16/01/2020
Bankrupt’s continued liability for costs
A court has refused parties’ request to retrospectively make an order for costs to avoid the consequences of a time limitation in bankruptcy. An order
14/01/2020
Insolvency R&B law reform ideas
While the ASBFE Ombudsman, ARITA and others are looking at insolvency law reform, including for SMEs, they will no doubt consider some root and branch
01/01/2020
Insolvency data sharing and access?
A number of academics, including myself, made a submission to the Data Commissioner’s Data Sharing and Release Legislative Reforms Discussion Paper in late 2019. One
30/12/2019
Winding up a company for a $1,000 debt
” … the issue of proportionality between the amount of indebtedness and the deployment of an application to wind up a debtor company is one
30/12/2019