With ASIC having appeared before the Parliamentary Joint Committee on Corporations and Financial Services on 27 August 2021, ASIC’s Corporate Plan 2021-25 has also just
The federal government has finally made arrangements to have Australia’s “safe harbour” from insolvent trading law reviewed – s 588GA, introduced in September 2017. But
After Jason Harris and I wrote about Justice Michael Lee’s comments on the high charge out rates of insolvency practitioners, I then started to receive
A Judge has ordered that Trustees in bankruptcy file “evidence that identifies the benefits the creditors of the bankrupt estate are likely to receive if
The cost of environmental clean-up of mining and other resource projects where the company has gone into liquidation is a live issue in Australia, with
Bankruptcy trustees, and liquidators, and creditors in insolvencies, contribute much to the government, in effect for free. In a recent bankruptcy disciplinary decision, the Sydney
Australia’s AFSA has announced that since 29 July 2021, it has changed the way it allocates bankrupt estates to bankruptcy trustees working in the private
The proposed annual ASIC ‘industry levies’ imposed on liquidators in Australia, to fund the cost of their regulation, prompts this brief comparison with what Australian
A 5 day bankruptcy hearing was cancelled in March 2021, in relation to matters occurring in 2012, being challenged in a 2014 bankruptcy by way
In ordering that liquidators be appointed to Forum Finance Pty Ltd on 9 July 2021, the Federal Court explained the nature of a winding up
In making a winding up order against Forum Finance,[1] Justice Michael Lee made this comment about the hourly fees of the proposed liquidators: “24 … The
There are now a number of decisions from the Administrative Appeals Tribunal reviewing decisions of the Fair Entitlements Guarantee where the question is whether an
An Italian shipping company – Michele Bottiglieri Armatore SpA – which is subject to Italian restructuring protection, a concordato preventivo – has successfully obtained a
A trustee in bankruptcy in England rejected a £5.7m proof of debt lodged by the revenue authority [HMRC][1] on what was found to be a
Several stars aligning at the end of 2020-2021 prompt this review of where Australia is at in the area of small business insolvency law. Small
Sanctions imposed by courts for breaches of competition or regulatory laws have to tread a line between being so severe as to put an otherwise
An application for special leave to appeal to the High Court[1] has been made in a bankruptcy matter involving a section 139ZQ notice demanding payment
There seem to be some rather unhappy insolvency practitioners at the moment bemoaning the low levels of insolvencies – yes, unhappy because more businesses and
While there is now greater training available in dealing with those suffering mental illness for professionals working in debt counselling and bankruptcy,[1] it remains the
In finding that the ‘peak indebtedness rule’ did not in fact exist, the Full Federal Court[1] in Badenoch v Bryant has also questioned the central
Some belated concern has been raised about the potential for new corporate insolvency law allowing a winding up demand to be served on a company
Following convictions and imprisonment for insolvent trading arising from the 2009 collapse of Kleenmaid, its founder, Andrew Young, has succeeded on appeal but on one
Mr Damien Grant, the New Zealand insolvency practitioner who successfully challenged RITANZ’s decision to deny him the right to practice as a liquidator, is now
Australia MSE insolvency reform process seems to have halted, perhaps because of a poor reception to its January 2021 small company reforms, described as a
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