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
Senate inquiry into unlicensed debt managers, credit repairers and payday lenders
The Senate Committee inquiry into debt management firms comes at an odd time, given pending regulation of such services by the new Australian Financial Complaints
19/10/2018
ASIC’s new insolvency ‘ROCAP’ – the Report On Company Activities and Property
The long history of the report as to affairs in corporate insolvency – the RATA – which started about 1890, has now ended, in 2018.
13/10/2018
NSW Registered Clubs – insolvency law change required
Registered clubs all over the country get into financial trouble, sometimes requiring the formal insolvency processes under the Corporations Act to secure their position, and
11/10/2018
Competing with phoenix operators, rather than combatting – a goverment liquidator
The World Bank has come out with reports[1] that support the Australian government’s attempts to control unlawful phoenix activity, by way of the creation of
08/10/2018
ASIC’s 2018 annual report – insolvency, what to expect
An interesting aspect of ASIC’s forthcoming 2018 annual report will be its review of the operation of the changes brought in by the Insolvency Law
07/10/2018
Too poor to be made bankrupt?
Most bankruptcies pay nothing to unsecured creditors. But there are only limited circumstances where a debtor can resist bankruptcy by claiming that they have nothing.
24/09/2018
Places of open debate or ‘echo chambers of orthodox creeds’
The need for universities to maintain and encourage open debate, particularly in matters of controversy, was recently the subject of a talk for the Academy
24/09/2018
Unclaimed moneys in bankruptcies – the law reformed
Those who are owed “unclaimed moneys” arising from a bankruptcy – for example a creditor whose dividend payment went astray – are assisted by recent
24/09/2018
The bankruptcy of Lehman Bros – a mere coincidence
Ten years ago, on 15 September 2008, Professor Rosalind Mason of QUT Brisbane and I gave a paper at the INSOL Academics Group Meeting in
15/09/2018