AFSA
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 ...
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 ...
