A regulator ‘getting tough’
This broadcast – Getting tough on untrustworthy advisors – in fact comes from the bankruptcy regulator, AFSA, about what it says are ‘untrustworthy [debt] advisers’,
29/11/2018
New draft version of APES 330 – Insolvency Services
APESB has issued a long-awaited revision of its insolvency code – APES 330 Insolvency Services – with a view to it replacing the 2014 version
29/11/2018
Liquidators – spending money to justify spending money
Charging a second fee to justify charging an initial fee might seem odd but this can be the case when the law itself requires some
23/11/2018
ATO indemnities to insolvency practitioners***
“New requirements for indemnity offers from the ATO to insolvency practitioners*** All indemnity offers from the ATO to insolvency practitioners must comply with a minimum
21/11/2018
Liquidators: “… no obligation to conduct any investigations beyond the bare minimum …”
It has been said of liquidators that in no other profession is a highly qualified professional expected to work for free, referring to the fact
19/11/2018
Credit and financial services targeting those at risk of financial hardship
The Senate Standing Committees on Economics has recommended that the Financial Services Royal Commission be given an extension of time and extended terms of reference:
16/11/2018
Judicial responsibility for a company’s collapse, and other ‘guns to the head’.
Judges make important decisions about the legal rights of parties in dispute. If the private parties agree, orders by consent will invariably be made as
14/11/2018
Some cross-border insolvency items from Australia and England
Two cross-border insolvency papers from Australian Judges; a scheme judgment from the UK, with the Judge criticising the parties, saying the court is not merely
13/11/2018
Overcoming non-financial barriers to justice – Academy of Law debate – 27 Nov Sydney
This is the third and final event in the Academy’s Access to Justice series for 2018, being held on Tuesday 27 November 5pm-6.30pm in Sydney.
11/11/2018
England’s approach to ‘phoenixism’ – joint and several liability
English law’s latest proposed reforms in relation to abuse of its tax laws through insolvency, including through ‘phoenixism’, seem to show its regime as less
08/11/2018
Consumer protections – auction warranties; debt management firms; and gift cards and insolvencies
The Ministers for Consumer Affairs of Australia and New Zealand recently met, on 26 October 2018 in Melbourne, making a range of significant decisions about
08/11/2018
Treasury Laws Amendment (Measures for a later sitting) Bill 2018: Miscellaneous amendments
The law reform process of going through a piece of legislation and picking up minor errors is useful and necessary but can be unwise. What
06/11/2018
Bankruptcy in Canada in the 1930s
Articles on this website generally attract reduced readership if they are about bankruptcy rather than liquidation; or if they are about overseas law rather than
06/11/2018
Insolvency law – assets and liabilities, activities and affairs – ASIC and AFSA
ASIC has released its new Report On Company Activities and Property (ROCAP), said to have been the result of an ‘extensive revision process and industry
05/11/2018
ASIC’s liquidator regulation activities – 2017-2018
Under s 136(1)(ca) of the ASIC Act, ASIC is required to report in its annual report on its activities under Chapter 5 and Schedule 2
02/11/2018
Debtors’ breathing spaces – UK reforms
This UK government consultation concerns new arrangements proposed for a 60 day ‘breathing space’ for struggling debtors, and for a separate statutory ‘debt repayment plan’.
31/10/2018
The elephant in the room of SMEs
It now seems that an old elephant in the room – about the misconduct of banks and financial institutions – has been revealed by the
31/10/2018
UK Crown priority in insolvencies to be restored
The UK government has announced in its 2018 budget that priority dividend payments will be made to the revenue for certain unpaid taxes of a
30/10/2018
Law reform obituary – CAMAC 1983-2018
The Corporations and Markets Advisory Committee (CAMAC) was a corporate law reform body comprising individuals eminent in that field. It was created in 1983 and
28/10/2018
‘Criminal Law fit for a continent? I don’t think so’.
The Australian Academy of Law is presenting this session hosted by Curtin University Law School on 8 November 2018 in Perth, at 5.30pm, presented by
27/10/2018
Mis’conduct proceedings based on evidence reported in the media’
ARITA advises that it can now ‘begin conduct proceedings [against its members] based on evidence reported in the media’. Murrays Legal only reports matters substantiated
25/10/2018
Insolvency remuneration – time-charging, or better?
Lawyers’ fees in class actions were the subject of a recent conference[1] paper by Sir Rupert Jackson, given in Melbourne, whose report in the UK
25/10/2018
Voluntary administrations and the benefits, or otherwise, of board turnover
Research just published[1] has looked at the relation between board turnover and the likelihood that a company that enters a deed of company arrangement under
23/10/2018
Litigation funding – ASIC’s submission to the ALRC
ASIC’s submission[1] to the Australian Law Reform Commission on class actions and litigation funding seemed to be a surprise to some.[2] ASIC says that, consistent
20/10/2018