AFSA
A government perspective on insolvency law reform
Dr Andrew Leigh is probably the first minister to oversee both personal and corporate insolvency, following the transfer of personal ...
Bankruptcies on a continued decline
Bankruptcy and other personal insolvency numbers look like falling below those of last year, and well below the long-term average. ...
Personal insolvencies in 2024 – well under half the numbers in 2018
Numbers of personal insolvencies in 2024, while slowly increasing, remain at well under half their number in 2018. There were: ...
Dramatic fall in insolvency numbers
The number of personal insolvencies fell by over 28% in the period July to December 2024, with big falls in ...
The latest from AFSA – stats, regulation, advisers, debtors’ petitions
AFSA has issued its latest Personal Insolvency Regulator newsletter for January 2025 containing reports on Statistics – are numbers plateauing? ...
Annual [2023-2024] personal insolvency statistics
Dividend payments to creditors in bankruptcies in 2023-24 averaged only 2.42c in the dollar. Registered bankruptcy trustees took in more ...
Personal insolvency numbers remain low – AFSA report
AFSA has released a useful report on personal insolvencies in 2023-2024, with some predictions as to the future. State of ...
Personal insolvency numbers
AFSA has reported that personal insolvencies increased in the September quarter 2024 compared to September quarter 2023. That is, there ...
Gender balance in the insolvency industry
With women comprising only around 10% of insolvency practitioners, the issue of gender balance continues to receive attention, among broader ...
Personal insolvency figures up and ‘reforms’ pending
Personal insolvencies increased in July 2024, to 1157 compared with the lows of 851 in June 2024, and 929 in ...
ASIC’s revised guidance on insolvency practitioner offence reporting – RG 16
ASIC has issued revised guidance on insolvency practitioner offence reporting obligations – RG 16 External administrators and controllers: Reporting of ...
Some proposed personal insolvency reforms in Australia
With the federal government yet to respond to the PJC Report on corporate insolvency of July 2023, which recommended a ...
“Personal insolvencies increased in May 2024…” – by 3
AFSA reports that “personal insolvencies increased in May 2024”. They did – by 3 more than in April 2024. Personal ...
Personal insolvency numbers suffer a slight rise
There is not much to report from the latest personal insolvency figures, save for continued small increases over time. It ...
Personal insolvency figures – December 2023
Numbers of personal insolvencies in Australia continue to fall with the December 2023 figure down to 805 compared with 853 ...
The AFCA financial complaints scheme and bankruptcy – no appeal
Further to my case comment below, AFSA has, belatedly, advised that it is not appealing this decision of Justice Rares ...
Marginal annual increase in personal insolvencies said to be in line with high numbers forecast
There was a total of 9,930 personal insolvencies in Australia in the 2022–23 financial year – around 4% higher than ...
Updates to ASIC insolvency regulatory guides
ASIC is in the process of updating 4 of its regulatory guides on insolvency, in the next few months, and ...
Personal insolvency statistics – March quarter increase; April monthly decrease
There is good and bad news in the latest personal insolvency statistics from AFSA. March quarter increase The full March ...
Principles of Regulation of Insolvency Practitioners – an international standard
This comment was issued in October 2018; it is re-issued in May 2023, but not updated, for interest. The rather ...
Personal insolvency statistics – March 2023 – beginnings of an increase?
The latest personal insolvency statistics released by AFSA for March 2023 show an increase in number over February but still ...
Penalties imposed on debt agreement administrator for false and misleading, threatening and coercive conduct against debtors
ASIC has succeeded in obtaining penalties against A & M group for false and misleading threatening and coercive conduct against ...
International insolvency regulators’ conference – some current comparative issues
The International Association of Insolvency Regulators’ Annual Conference was held in England from 26-29 September 2022. Australia’s reported contribution to ...
Try to resolve unpaid debt early, and leave insolvency as a “last resort”
Each of AFSA, ARITA and Financial Counselling Australia has issued a statement calling for better processes for resolution of claims ...