ASIC
Slow pace of litigation and incomprehensible laws
Former Federal Court judge Steven Rares is reported in the AFR[1] as having made several comments about the justice system
ASIC v Bettles – case dismissed, with costs
ASIC has lost a major Federal Court proceeding brought against a senior and experienced liquidator, Jason Bettles, alleging that his
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
ASIC beleaguered – updated
Updated 29 July 2023. Given the number of current and on-going inquiries into ASIC, it is as if the regulator
Offence reporting by insolvency practitioners
What is said to be the limited response by ASIC to corporate misconduct reports by liquidators is the subject of
Cancellation of a liquidator’s registration
While England is still deciding whether to change its system of insolvency practitioner regulation from one of co-regulation by professional
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
Now we have three Part 5.3B restructuring practitioners
One more person has been appointed as a restructuring practitioner to conduct administrations under Part 5.3B of the Corporations Act
ASIC’s insolvency law enforcement role
The Senate Economics References Committee is loading up submissions received on its reference into ASIC’s capacity and capability to “undertake
Liquidator discipline outcome – reasons unknown
A discipline committee has cancelled the registration of a liquidator but declined to publish its reasons for doing so. ASIC
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
The several inquiries into ASIC
There are now several government inquiries into ASIC, directly or indirectly, perhaps indicating either the breadth of ASIC’s remit, or
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
Reprimand and more for a liquidator – that’s about as much as we know
By a media release ASIC has reported that a disciplinary committee has decided to reprimand a liquidator, Nicholas Crouch, under
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
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
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
ASIC’s period of external scrutiny
The Australian Securities and Investments Commission is properly subject to parliamentary oversight, apart from the on-going scrutiny it receives from
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
Some views on ASIC v Wily & Hurst
The views of Justice Brereton of the NSW Supreme Court have not prevailed following the decision by the High Court
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
Litigation funding – ASIC’s submission to the ALRC
ASIC’s submission[1] to the Australian Law Reform Commission on class actions and litigation funding seemed to be a surprise to
