ASIC
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 ...
Insolvency practitioners’ offence reporting
Although the government is trying to distance any connection between wrongdoing and a company going into liquidation or a person ...
Liquidators riding a remuneration merry-go-round
The commentaries on how the judges assess, or should assess, the remuneration of liquidators is reaching saturation point, one practitioner likening it ...
New Zealand – the outlier of international insolvency regulation
Australia and other countries will be relieved that New Zealand is again looking at licensing and regulating its insolvency practitioners. ...
Director identity numbers, and their frequent flyer equivalents
Among all the numerous recommendations the government has received about corporate insolvency reform, one has now been made three times ...
Insolvency law reforms – no further delay …
In 2002, an eminent insolvency judge noted a drafting error in Ch 5 of the Corporation Act and recommended in ...
Joint regulator reports on insolvency practitioners?
What one lawyer has described as ASIC’s 50 page ‘reign of terror’ report on insolvency practitioners, based on its tone ...