Australia’s law reform aversion to pre-packaged insolvencies – “pre-packs” – compares with a process of their cautious acceptance and continual refinement in England. A new
New laws have commenced under the ASIC Act and Australian Consumer Law extending unfair contract term protections to small businesses. The law allows “unfair” and “standard
The draft Insolvency Practice Rules raise a few fundamental issues about due process – natural justice, professional body involvement, confidentiality and transparency, being covered by
Special purpose liquidators have properly been appointed by the Federal Court to some aspects of the Queensland Nickel companies of Clive Palmer but it would
Insolvency law has a mixed view of its liquidators. On the one hand they are said to be of the highest integrity, qualified and experienced,
The bankruptcy regulator, AFSA, has announced a new approach to its regulation of the 200 trustees in bankruptcy in Australia, focusing more on a trustee firm’s
Read the funding proposal for ASIC’s regulation of liquidators and understand why bankruptcy is so much more advanced. Corporate insolvency practitioners, lawyers and academics should attend the Rosie
The government has invited us to “have our say” on what it says is “Australia’s first Open Government National Action Plan”, the draft plan being
Two important Senate inquiries of 2014 and 2015 that lapsed at the election have been reinstated, but still with long reporting dates into 2017; and
Senate questioning of ASIC does provide some useful information at times. In the inquiry into ASIC’s 2015 annual report by House of Representatives Standing Committee
The maritime court structure of China was first set up in 1984 and over the short period since then the 10 main courts have established
The Rules in support of the Insolvency Law Reform Act 2016 have been released in draft for comment by 4 November 2016. These follow an earlier
“Pre-appointment work, including involvement in the drafting of a proposed deed of company arrangement, is not unusual in the corporate insolvency context and does not
Although the government is trying to distance any connection between wrongdoing and a company going into liquidation or a person becoming bankrupt, the law and policy
The Treasurer has asked the Standing Committee on Economics to inquire into and report on what is termed a Review of Australia’s Four Major Banks.
In a case involving “an important issue for the operation of maritime law in this country” a 5 member bench of the Federal Court has overruled
The commentaries on how the judges assess, or should assess, the remuneration of liquidators is reaching saturation point, one practitioner likening it to being on a merry-go
The appointment of a receiver to the large South Korean Hanjin Shipping Line has had an impact in Australia, with parties before the Federal Court
Liquidators and administrators, and trustees, when their appointments are challenged, have a duty of neutrality, to provide relevant facts to parties, and to the court,
The Parliamentary Joint Committee on Corporations and Financial Services is to report by 30 June 2017 on: the need for further reform and improved oversight
Judges’ inconsistency of approach in determining the remuneration of corporate insolvency practitioners is continuing. The respective state and federal courts have been ignoring each others’
The Senate Standing Committee on Economics has given a report on the Budget Savings (Omnibus) Bill 2016 and has endorsed the Bill’s provisions for single touch payroll.
A rather unsatisfactory situation is developing in the nation’s federal and state superior courts in their exercise of shared jurisdiction under the Corporations Act. This concerns
QUT is holding its international personal insolvency conference in Brisbane tomorrow and Friday – 8-9 September 2016 – with speakers presenting from the US, the
