articles

Insolvency returns to creditors and other fictions – reissued March 2022

Insolvencies average dividend returns to unsecured creditors of under 5 cents in the dollar, in some cases, under 1 cent.  …

Licensing of insolvency practitioners – decision making principles from New Zealand [updated post 13 June 2021]

Mr Damien Grant, the New Zealand insolvency practitioner who successfully challenged RITANZ’s decision to deny him the right to practice …

What is the future of insolvency practice?

The future of insolvency practice lies in artificial intelligence (AI) which this article discussed.  A list of selected articles and …

Australia’s new liquidator registration processes, and its ‘new liquidators’

On 30 December 2020, ASIC issued guidance on the new liquidator registration processes that apply in Australia two days hence …

Bad bankruptcy notices

A bankruptcy notice was found to have been wrongly issued by the Official Receiver because it did not attach a …

The Law of Bankruptcy Notices and Creditors’ Petitions, by Nicholas J Simpson, 2020 – a book review

This is a very good and topical Australian text, adequately and accurately described by its title.  My review of it …

The financial viability of personal insolvency practice in Australia

The Australian bankruptcy regulator – AFSA – has been making inquiries about the financial health of bankruptcy trustee firms during …

Reinventing Bankruptcy Law – Virginia Torrie

This is a very good book on Canadian insolvency law, sadly with no equivalent in Australia, as I explain below. …

Australia’s litigation funding market a ‘global hotspot for international investors … many based in tax havens and with dubious corporate histories’ with returns of ‘more than 500%’

The tone and findings of this 454 page report by the Parliamentary Joint Committee on Corporations and Financial Services – Litigation …

Corporations Amendment (Corporate Insolvency Reforms) Act 2020 No 130 of 2020

This is now law, with a date of assent of 15 December 2020, and with a commencement date for most …

Bankruptcy threshold to be increased from $5,000 to $10,000

The Australian government has not been ignoring personal insolvency reform in 2020, despite its recent small business reforms dealing only …

NZ’s measured review of class actions and litigation funding, noting Australia’s ‘polarised’ debate

The New Zealand Law Commission has commenced a 2 year inquiry into litigation funding and class actions, right at the …

Does small business count?

This Ombudsman’s follow up report – Small Business Counts – examines small to medium business enterprises (SMEs) from an economics …

Australia’s corporate SME insolvency law may soon become law – and then….

The Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 progressed through a third reading in the Australian parliament on 8 December …

Corporate insolvency reforms 2020 – referred to a committee?

Report No 11 of 2020 of the Senate’s selection of bills committee of 3 December 2020 has considered the Corporations …

Australian insolvency practitioner disciplinary decisions – short but to what point?

This report of two insolvency practitioner disciplinary decisions in Australia will be brief because the decisions, or their publicly released …

Bankruptcy seems to be the hardest word

The government has not said anything about insolvency law reform for financially struggling individual small business operators among its claimed …

SME insolvency – an alternative approach

Small business enterprises (SME) in Australia are conducted through the full range of legal entities available – sole traders, partners, …

Australia’s small business restructuring practitioners

Australia is proposing a sub-group of liquidator accountants to assist in administering its new corporate SME insolvency laws, set to …

Whistleblowing – panel debate – Bret Walker SC, Kate McClymont, and more – 19 November

The Australian Academy of Law is hosting a free on-line seminar on whistleblowing on Thursday evening 19 November 2020 from …

Data Availability and Transparency Bill and Australia’s SME insolvency reforms

Following on some decades of government inattention to the collection of adequate statistical data in insolvency, but with law reforms …

Silos

Where’s personal insolvency nowadays? Australian parliamentary confusion

This rather painful transcript of Senate estimates hearing on 27 October 2020 illustrates many things but in particular how small …

Singapore’s new small business restructuring and liquidation regime – a “move away from earlier efforts to ‘hold the line'”

The Singapore parliament passed the Insolvency, Restructuring and Dissolution (Amendment) Bill 2020 on 3 November 2020. It will amend the …

Dear Parliamentary Counsel

The Commonwealth Integrity Commission Bill 2020 is important in many respects and some would see the following aspect of it …