Numbers of personal insolvencies in 2024, while slowly increasing, remain at well under half their number in 2018. There were: 2,794 new personal insolvencies in
The Australian newspaper most usefully for some keeps a focus on insolvency numbers, this time in an article [1] that extracts comments from an insolvency
The Inspector-General in Bankruptcy has succeeded in having a debtor’s Part X personal insolvency agreement (PIA) of 1 March 2024 set aside pursuant to section
UNCITRAL’s Working Group V – Insolvency – met in December 2024 and among other issues had before it a proposal of October 2024 from the
ASIC Professional Registers Search Details A search of ASIC’s Professional Registers shows that Peter Macks is now registered by ASIC as a liquidator. ============================= A
The claim against former bankruptcy trustee Paul Leroy drifts on, with a mere ‘case management conference’ in the Federal Court that was set for 21
Insolvency law reform inquiries into phoenix company misconduct are happening or are proposed. Where are we to begin? Soon after the Productivity Commission (PC) proposed
My various comments about Australia’s standing in the world corruption stakes, below, go back to 2022 – Australia on a slide. Australia dropped 12 points
The number of personal insolvencies fell by over 28% in the period July to December 2024, with big falls in construction businesses (down 17.2%) and
AFSA has issued its latest Personal Insolvency Regulator newsletter for January 2025 containing reports on Statistics – are numbers plateauing? Business insolvencies … Regulation –
This is a brief review, in two parts, of the small corporate business restructuring process under Part 5.3B of the Corporations Act. Some articles and
Dividend payments to creditors in bankruptcies in 2023-24 averaged only 2.42c in the dollar. Registered bankruptcy trustees took in more than $253 million in receipts
The higher than usual number of corporate insolvencies in 2024 may indicate that healthy but tough competition, driving efficiency and productivity, is at work. In
It is interesting to compare the rather muted reaction to millions of dollars missing from three insolvent estates in Sydney with the extreme reaction, over
A rather dramatic headline, political only, warning that an extra 10,000 businesses will go under by June 2025 might best be seen only as a
Fifteen years after a director’s first misconduct, and seven years after his companies went into liquidation, ASIC has reported by media release its achievement of
AFSA has released a useful report on personal insolvencies in 2023-2024, with some predictions as to the future. State of Personal Insolvency Report released for
The United Nations Commission on International Trade Law Working Group V (Insolvency Law) is meeting this week 16-20 December 2024 in Vienna. Its two main
ASIC reports that former registered liquidator Peter Andrew Amos was sentenced on 13 December 2024 in the District Court of NSW to four years imprisonment
ASIC has released its analysis of the costs of regulation of liquidators; AFSA has issued comparable analyses of the costs of regulation of trustees. ASIC’s
Former liquidator, Mr Peter Amos, has been sentenced to 4 years imprisonment, 2 years non-parole, for misappropriation of around $2.5m in breach of the Corporations
In a rather sad comment on standards of conduct in many parts of the private enterprise sector, ASIC has listed the range of industries and
Among the 61 recommendations of the Report of the Parliamentary Joint Committee (PJC) on Corporations and Financial Services – Financial abuse: an insidious form of
The Productivity Commission (PC) has issued its National Competition Policy: modelling proposed reforms. Among proposed inquiries into electric vehicle charging and marine freight is an
