ASIC
ASIC’s [one] reviewing liquidator guidance
ASIC is seeking feedback on a proposal to simply release a new information sheet on its discretionary power to appoint ...
Changes in directors’ duties over time – the Marquess of Bute to Star Casino
The 19th century decision concerning the Marquess of Bute, a director and president of the Cardiff Savings Bank, does not ...
“Small business” insolvency data
The regular insolvency statistics were released by ASIC (corporate) and AFSA (personal) at the end of 2025 but with a ...
Ways to deregister a company
While ASIC reports its success in having a former company director convicted for trying to deregister his building company without ...
ASIC’s 60 liquidators to wind up how many abandoned companies?
ASIC reports that it has appointed 60 suitably qualified and experienced liquidators to its Abandoned Company Liquidator Panel, effective from ...
The ATO as the real Pt 5.3B ‘small business restructure’ regulator?
Some years ago, I wrote an article entitled The ATO as an insolvency regulator,[1] suggesting that with the various insolvency ...
$93m? and 300 creditors? over 20 years? Director disqualified
ASIC has disqualified a director from managing corporations for 5 years in relation to companies trading for over 20 years ...
A quiet insolvency scene in small business
The new Minister for Small Business, the Hon Dr Anne Aly MP, will be interested in the latest insolvency figures ...
ASIC’s report on Part 5.3B – small corporate business restructuring
The small corporate business ‘restructuring’ process under Part 5.3B of the Corporations Act was introduced in 2021, in some criticized ...
Insolvency reform, phoenix misconduct – where to begin…
Insolvency law reform inquiries into phoenix company misconduct are happening or are proposed. Where are we to begin? Soon after ...
Small corporate business restructuring – Part I
This is a brief review, in two parts, of the small corporate business restructuring process under Part 5.3B of the ...
How long does it take to disqualify a director?
Fifteen years after a director’s first misconduct, and seven years after his companies went into liquidation, ASIC has reported by ...
ASIC updates “guidance to help directors prevent insolvent trading”
ASIC has updated its regulatory guide for directors and their professional advisers on the duty to prevent insolvent trading – ...
Are pecuniary penalties actually paid?
One enforcement tool of regulators is to obtain a court ordered civil penalty against the respondent company or individual. That ...
Coercive control and insolvency
ASIC has asked registered liquidators to “stay alert” for signs of family and domestic violence when conducting insolvency administrations.[1] ASIC ...
ASIC’s civil penalty regime – an academic review
In the midst of a focus on the enforcement activity of ASIC following a critical Senate Committee report,[1] we have ...
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 ...
Splitting ASIC 2024 and the 2010 Senate Committee Report
In the discussions about separating ASIC’s tasks following the July 2024 Senate Economics References Committee report – Australian Securities and ...
Senate report on ASIC’s investigation and enforcement roles – July 2024
The Senate Economics References Committee has issued its Report – Australian Securities and Investments Commission – investigation and enforcement, of ...
Offence referrals by liquidators
Offence referrals to ASIC by liquidators continue to be contentious and perhaps distracted by the issue of claimed automated decision-making ...
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 ...