AFSA

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

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,