Solomon’s Justice in Maritime China
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
20/10/2016
Insolvency Practice Rules 2016 – draft for comment
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
12/10/2016
New Zealand Voluntary Administration Law – an independence challenge to the administrators
“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
12/10/2016
Insolvency practitioners’ offence reporting
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
10/10/2016
Review of the big banks
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.
03/10/2016
The Halcyon Isle resurrected – the law applicable to maritime liens
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
28/09/2016
Liquidators riding a remuneration merry-go-round
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
25/09/2016
Hanjin Shipping – an Australian perspective
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
19/09/2016
Insolvency practitioners’ duties of neutrality
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,
16/09/2016
Another life insurance inquiry – respond by 18 November…..
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
16/09/2016
Remuneration of liquidators: Idylic Solutions, Templeton revisited – more of the same?
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’
16/09/2016
Single touch payroll – on its way into law
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.
15/09/2016
Consistency in judicial decisions – Marlborough Gold Mines revisited
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
12/09/2016
QUT insolvency expertise
QUT is holding its international personal insolvency conference in Brisbane tomorrow and Friday – 8-9 September 2016 – with speakers presenting from the US, the
07/09/2016
Price signalling in corporate restructuring
In its major review of competition law, the government proposes to remove the price signaling provisions in the Competition and Consumer Act 2010. These provisions,
06/09/2016
Single touch payroll – disrupting the way things have been done
Single-touch payroll (STP) legislation was introduced into federal parliament on 31 August 2016 through the government’s Budget Savings (Omnibus) Bill 2016. This law would eventually
04/09/2016
Gaps and weaknesses in our system of financial regulation
The government is yet to respond to weaknesses in our laws that deal with the financial distress or collapse of financial institutions – banks, insurers,
03/09/2016
Consolidated version of the new Bankruptcy Act 1966
CCH is publishing a consolidated version of the Bankruptcy Act 1966 as amended by the Insolvency Law Reform Act 2016. The amended law does not
01/09/2016
Condor Blanco – three useful propositions
This decision in Condor Blanco Mines Ltd [2016] NSWSC 1196 is important for three propositions: In general, it is not part of a voluntary administrator’s responsibility, in
01/09/2016
Inquiries x 3: small business lending; external dispute resolution; financial ombudsman service
1. Inquiry into small business lending practices The Australian Small Business and Family Enterprise Ombudsman will undertake an inquiry into concerns raised by the Parliamentary
01/09/2016
New Zealand – the outlier of international insolvency regulation
Australia and other countries will be relieved that New Zealand is again looking at licensing and regulating its insolvency practitioners. From a cross-border perspective, this
31/08/2016
A silver lining in the insolvency law reform delay
The unfortunate delay in the commencement of the substance of the insolvency law reforms for one year, to 1 September 2017, and the reasons given
31/08/2016
The right to vote out under-performers – liquidators, politicians and ICAC
Insolvency practitioners are to be the subject to the same tenure arrangements as federal politicians, with creditors being able to vote out “underperforming practitioners”, but,
30/08/2016
Latest Supreme Court Views on Liquidators’ Remuneration
A NSW Supreme Court judge has spoken about “liquidators’ preference for time-based remuneration, and courts’ scepticism of it” at a major conference of senior judges and
28/08/2016