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
Insolvency reforms further delayed
The Australian government has decided that insolvency practitioners need more time to implement long awaited law reforms aimed at improving practitioners’ reporting and accountability, enhancing their efficiency,
23/08/2016
Liquidators’ remuneration further explained …
Obviously with an eye on the ‘controversy’ over how to assess liquidator’s remuneration, at least in NSW, Justice Robb of that Supreme Court has given a judgment
21/08/2016
Director identity numbers, and their frequent flyer equivalents
Among all the numerous recommendations the government has received about corporate insolvency reform, one has now been made three times – the need for a
16/08/2016
ASIC’s database, the Productivity Commission and Phoenix misconduct
Three stars have aligned this August – the Productivity Commission’s inquiry into data usage, the government’s pending decision on how to make more money out
16/08/2016
Misprision revived – accountants’ new legal obligations – APESB
Accountants are taking on an obligation to refer breaches of the law to the authorities, under changes to their international code of ethics, reviving an obligation
07/08/2016
A lack of trust in the law of trusts
Joint liquidators had to apply to the court be appointed as receivers and managers of property held by them as bare trustee because of uncertainty
06/08/2016
Singapore’s new debt restructuring regime – the steak knives are out
Competition between courts and the legal regimes in which they operate is perhaps an odd concept, contrary to the image of the strict independence and
03/08/2016
The Fishman’s non-payment of tax was not dishonest
The Fish Man Ltd was in liquidation. Its director, Mr Hadfield, raised and sold ornamental fish from 14 fish tanks at his home. But one
02/08/2016
Gift cards, and Christmas hampers
A report has just been issued in the UK by the Law Commission on the question of whether there should be greater protection for
02/08/2016
Concerns about liquidator misconduct hearings – no lawyer’s quibble
Concerns about the new processes to review the professional conduct of liquidators, and bankruptcy trustees, are discussed in light of the litigation approach taken by
01/08/2016
27/07/2016
Queensland’s environmental protection “chain of responsibility” law – part 1
Queensland’s new chain of responsibility laws seek to broaden the legal scope of those who should be held accountable for environmental obligations of a failed
26/07/2016
“when a company enters troubled waters” – the NZ approach to director conduct
While Australia considers how it should re-shape its insolvent trading laws, this June 2016 New Zealand decision illustrates how our neighbour’s comparative legal approach works,
24/07/2016
A mere 0.2% ‘rise’ in Australian bankruptcies but with bigger changes to come
While the usual hype about rates of personal insolvency in Australia might sell, a reported 0.2% rise in personal bankruptcies is hardly news, even if
17/07/2016