ASIC

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 …

Principles of Regulation of Insolvency Practitioners – an international standard

The rather opaque International Association of Insolvency Regulators (IAIR) has issued a public document, the Principles of Regulation of Insolvency …

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 …

ASIC “pointing to scalps and easy wins … might satisfy a shallow media day” but …

In the appearance of ASIC before the House Economics Committee today, 22 June, inquiring into ASIC’s 2016-2017 annual report, Mr …

Review of ASIC’s Annual Report 2016-2017 – 22 June 2018

The House Standing Committee on Economics is conducting an inquiry into ASIC’s 2017 annual report, this Friday 22 June, in …

Registration of a liquidator, on conditions – Mansfield

The AAT has confirmed that a corporate insolvency practitioner’s ‘exposure’ to bankruptcy as being one criterion required to be met …

by how much could we reduce white collar crime by imposing 30 year jail sentences? “Zero”.

The Honest Politician’s Guide to Crime Control never went into to a second edition, and it may by now be …

Mining company rehabilitation costs as contingent liabilities – Senate hearing

The question of how to account for outstanding rehabilitation costs of mining ventures was again before the Senate Environment and …

Some casual Friday comments on recent insolvency developments

This is a quick review of some on-going current issues in insolvency and related. Pending decisions The Commonwealth v Byrnes …

ASIC and one-year bankruptcy, AUSTRAC, a fees claim settled, and more …

The following further commentary on insolvency – submissions due, events and conferences and case law – may be of interest. …

Macks v Viscariello – appeal outcome

The appeal decision in the contentious matter of Macks v Viscariello has now been delivered. It needs to be read …

Pending insolvency law and practice changes

Some of us are waiting for Santa, others are waiting on anticipated updates in insolvency law so we can send …

Vale CAMAC

Many will remember the Corporations and Markets Advisory Committee (CAMAC), and its predecessor CASAC.  CAMAC produced many law reform reports …

‘A one year bankruptcy or a 3 year debt agreement … what’s the catch?’

With Australia on the verge of introducing a one year period of bankruptcy, it is odd that no comparable reforms …

‘If you want to take us on in court, go for your life because, guess what …’

ASIC may not have meant it but comments to the recent PJC inquiry about ASIC’s “transformational industry funding” may raise …

ASIC and the PJC – hellholes, law enforcement, identity, funding, and more

Here are some selected snippets from the transcript of the PJC hearing oversighting ASIC, of 27 October 2017, the last …

Guerilla tactics needed against phoenix misconduct

While the government is considering the various submissions on phoenix reforms, these quick thoughts came to mind, involving both government …

Insolvency Law Reform Act – some real legislation errors

woodfer The changes effected by the Insolvency Law Reform Act 2016 are now law with some parts having commenced on …