ASIC
Director charades continued
After giving directors the benefit of protection from liability for insolvent trading, through the ‘safe harbour reforms’, the government has ...
Getting rid of liquidators
While no-one in business likes losing a client or customer, usually, it happens all the time, as a matter of ...
ASIC’s 2017 annual report – what to expect in insolvency regulation
Report 532 ASIC’s regulation of registered liquidators: January to December 2016 is a rather dense and detailed report which explains ...
Creditor’s examination summons of a liquidator upheld
A creditor’s summons for the section 596A public examination of the liquidator about his sale of company property has been found ...
What work was involved in this liquidation and why did it take the time and resources claimed?
A liquidator’s remuneration claim of over $350,000 for conducting the winding up a country dental practice involving 24 of his staff ...
Friendly and ‘friendly’
With the rather confusing term ‘friendly liquidator’ continuing to be used: by the media: Dirty Deeds: Inside Australia’s Biggest Tax ...
APES 110 – accountants, whistleblowers and safe harbour advisers to note
Increased professional obligations of accountants, and insolvency practitioners, to refer breaches of the law to the authorities, are being considered at ...
Funding personal and corporate insolvency regulation
ASIC and AFSA ASIC The funding of ASIC under the draft ASIC Supervisory Cost Recovery Levy Regulations 2017 by way of ...
How fixed fees work in insolvency – 1,796 companies at £6000 each = £1600 per company
An English Chancery Court decision has given guidance on the reasonableness of fixed fees in an insolvency, albeit the fees ...
Lifting the fear and suppressing the greed – a Senate committee report on penalties for white collar crime
A long awaited Senate committee report on penalties for white collar crime was issued on 23 March 2017 under the ...
ASIC’s regulation of unlawful phoenix activity – report 513
ASIC’s latest enforcement report – REP 513 ASIC enforcement outcomes: July to December 2016 – says up front that it ...
New insolvency laws now, with practitioners invited to implement some of the further new law before September
The first tranche of the changes effected by the Insolvency Law Reform Act 2016 commenced on 1 March 2017. The ...
New insolvency laws commencing 1 March – Q&A
This series of questions and answers address many of the issues with which practitioners and lawyers will be confronted in ...
The most useful and well researched and argued law reform report for many years – Phoenix Activity: Regulating Fraudulent Use of the Corporate Form
The most useful and well researched and argued law reform report for many years has been issued on what to ...
ASIC’s industry funding model – draft laws
Drafts of ASIC’s Supervisory Cost Recovery Levy Bill 2017 and related Bills have been released for comment, by 10 March ...
Assessing the insolvency regulators’ self-assessments – from tea and biscuits to zero tolerance
ASIC has released a report self-assessing itself, according to requirements of the Commonwealth Regulator Performance Framework: Report 511 ASIC self-assessment ...
Applying to be a bankruptcy trustee – part 2
The interest in this topic is such that some further issues must be explained, for the benefit of applicants and ...
Umpteen professional bodies regulating insolvency practitioners – overkill? or a spreading of the risk?
The new regulatory regime of insolvency practitioners under the Insolvency Law Reform Act 2016 provides for co-regulation shared between the regulators – ...
Senate inquiry
On 29 November 2016, the Senate referred the following matters to the Economics References Committee for inquiry and report by ...
Protected: A CALDB decision against a liquidator under the existing law, and how the new law will operate
There is no excerpt because this is a protected post.
ASIC’s data – the sale is off; now for some decisions….
The government has announced that it is not proceeding with the private sector bids to upgrade and operate ASIC’s registry functions. ...
Joint insolvency regulat(ion)
The bankruptcy regulator, AFSA, has announced a new approach to its regulation of the 200 trustees in bankruptcy in Australia, focusing ...
More (and more) government inquiries
Two important Senate inquiries of 2014 and 2015 that lapsed at the election have been reinstated, but still with long ...
ASIC before the Senate – no more scalps, goodness will prevail; complaints in the “thousands”; and the ASIC database
Senate questioning of ASIC does provide some useful information at times. In the inquiry into ASIC’s 2015 annual report by ...
