AFSA
The AFCA financial complaints scheme and bankruptcy
In what was described by Justice Rares[1] as “very much in the nature of a test case as to the
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
Association of Independent Insolvency Practitioners’ Third National Insolvency Conference
“Are you ready to rumble” in the insolvency jungle was the opening question at the Association of Independent Insolvency Practitioners
Can insolvency practitioners afford to be generous?
The Australian bankruptcy regulator, AFSA, has published what it terms a series of “exemplar behaviour case studies [to] showcase examples
Insolvency practitioner [over]-regulation in Australia – an update
While the UK is reviewing its insolvency practitioner (IP) co-regulation system, Australia’s direct regulation, with minimal but expansive co-regulation, might
“Voluntarily becoming bankrupt” – the new bankruptcy process
A person goes voluntarily bankrupt in Australia by completing an online “Bankruptcy Form” with the Official Receiver. What is now
The UK’s Technical Guidance for Official Receivers – a published resource for Australian practitioners and regulators
The Insolvency Service in the UK has issued an updated version of its Technical guidance for Official Receivers[1] in administering
Insolvency developments in the 2018-19 annual reports – ASIC, AFSA, AGD and ATO
Annual reports nowadays are more marketing publications as to various achievements of the relevant agencies and their compliance with statutory
“Shortcomings of the Model Law on Cross-Border Insolvency (just some)”
Professor Martin Davies of Tulane Maritime Law Center recently offered a critique of the Model Law on Cross Border Insolvency
How to become an insolvency practitioner in Australia
The ‘new’ process of selecting by interview who should be an insolvency practitioner (IP) was the subject of a presentation
Treasury Laws Amendment (Measures for a later sitting) Bill 2018: Miscellaneous amendments
The law reform process of going through a piece of legislation and picking up minor errors is useful and necessary
Insolvency law – assets and liabilities, activities and affairs – ASIC and AFSA
ASIC has released its new Report On Company Activities and Property (ROCAP), said to have been the result of an
ASIC’s new insolvency ‘ROCAP’ – the Report On Company Activities and Property
The long history of the report as to affairs in corporate insolvency – the RATA – which started about 1890,
Unclaimed moneys in bankruptcies – the law reformed
Those who are owed “unclaimed moneys” arising from a bankruptcy – for example a creditor whose dividend payment went astray
UK’s “small proportion of bankruptcies where there has been misconduct leading up to the individual’s insolvency”
With the Australian parliament about to decide on the reduction of the period of bankruptcy from three years to one,
Registration of a liquidator, on conditions – Mansfield
The AAT has confirmed that a corporate insolvency practitioner’s ‘exposure’ to bankruptcy as being one criterion required to be met
Bankruptcy by the hour
The ‘median’ hourly rates for trustees in bankruptcy are from $470 to $600, according to the Australian Financial Security Authority,
