COVID-19
Insolvent insolvency practitioners?
An Australian insolvency industry body – ARITA – has suggested that the law should be changed to allow insolvency practitioners ...
The financial viability of personal insolvency practice in Australia
The Australian bankruptcy regulator – AFSA – has been making inquiries about the financial health of bankruptcy trustee firms during ...
Bankruptcy seems to be the hardest word
The government has not said anything about insolvency law reform for financially struggling individual small business operators among its claimed ...
Australia’s small business restructuring practitioners
Australia is proposing a sub-group of liquidator accountants to assist in administering its new corporate SME insolvency laws, set to ...
Singapore’s new small business restructuring and liquidation regime – a “move away from earlier efforts to ‘hold the line'”
The Singapore parliament passed the Insolvency, Restructuring and Dissolution (Amendment) Bill 2020 on 3 November 2020. It will amend the ...
Do the Australian small to medium business insolvency reforms add up?
The numbers upon which the government is relying for the proposed SME reforms[1] don’t seem to add up. Apart from ...
Australia’s insolvency law reforms – useful information from government officers
On 26 October 2020 the Economics Legislation Committee inquired of various Treasury officers about personal and corporate insolvency law reform, ...
Fightback! SMEs get a new restructuring tool
The federal Treasurer has announced a new restructuring regime for struggling small to medium enterprises (SMEs)[1] which adopts a ‘debtor-in-possession’ ...
Insolvency protections extension to 31 December 2020
The Corporations and Bankruptcy Legislation Amendment (Extending Temporary Relief for Financially Distressed Businesses and Individuals) Regulations 2020 serve to extend ...
Extension of the COVID-19 insolvency protections – what’s the real problem?
The Australian government has extended the monetary threshold of A$20,000 for the commencement by creditors of bankruptcy and liquidation proceedings ...
Can a debtor resist a bankruptcy arising from COVID-19?
So far the courts in Australia have not had to deal with many creditors’ bankruptcy petitions against debtors in the ...
Australian bankruptcies fall 42% over the ‘virus’ quarter
Australian personal insolvencies in 2019-2020 have continued to fall, quite dramatically, of over 23% on last year, and over 35% ...
Australian Small Business Ombudsman’s ‘COVID-19 Recovery Plan’ – ‘turnaround and insolvency’
The Australian Small Business and Family Enterprise Ombudsman has issued a COVID-19 Recovery Plan, of May 2020. Within that the ...
Behind the UK government insolvency reforms
The Corporate Governance and Insolvency Bill has been introduced into the United Kingdom Parliament and is due for debate on ...
Further Covid-19 Restructuring Survey Results – Australia
In my post of 3 May 2020, I reported on various surveys both during the COVID-19 crisis, and before. One ...
Surveys of Australian insolvency and turnaround professionals
An early survey of insolvency professionals in Australia in relation to the impact of COVID-19 reveals an apparent contradiction, that ...
Australia’s temporary personal debt protection
One of the ‘COVID-19’ bankruptcy reforms made in Australia on 25 March 2020 was to extend the period of a ...
A class action hearing ‘as inconvenient and tedious as this is going to be’ – COVID-19
Ford Motor Co has failed in having adjourned, for COVID-19 reasons, a class action hearing over its allegedly defective gear ...
New Zealand’s COVID-19 insolvency measures – safe harbour; debt hibernation
The New Zealand Government has announced it will be introducing legislation to make changes to the Companies Act to help ...
Case adjourned for COVID-19 health and property value concerns
A son’s claim under the ACT Family Provision Act 1969 sought a life interest in property of his deceased mother, ...
Australia’s new fortnightly ‘COVID-19’ personal insolvency statistics
The Australian bankruptcy trustee and regulator AFSA has started to release fortnightly statistics on personal insolvencies in Australia[1] to assist ...
‘Unhappy’ delay in an insolvent winding up
A NSW Judge was ‘unhappy’ about delay in a solvency report being prepared for the defendant, in response to what ...
ARITA’s ‘bushfire and COVID-19’ request to government for funding
ARITA – the main Australian industry body representing insolvency practitioners and lawyers – has asked the government[1] for funding to ...
Managing the insolvency curve – a new government role is needed?
There is expected to be a wave of businesses and individuals going into liquidation or bankruptcy despite the huge financial ...
