Law reform
Protected: A CALDB decision against a liquidator under the existing law, and how the new law will operate
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The new effects test – and banks financing of distressed businesses
The government has introduced the Competition and Consumer Amendment (Misuse of Market Power) Bill 2016 into parliament which would implement ...
Insolvency law reform – some harsh words
Murrays Legal recently reported a comment that our new insolvency law arriving in 2017 was the worst insolvency law reform we have ...
Insolvency Practice Rules 2016 released – Corporations and Bankruptcy
The Insolvency Practice Rules (Corporations) 2016 have now been released, without fanfare, and are on the Federal Register of Legislation. The Insolvency ...
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. ...
What insolvency practitioners and lawyers and regulators need to know before too long …
The new insolvency reforms commence in about 9 weeks, on Wednesday 1 March 2017, under the Insolvency Law Reform Act ...
Prepacks – useful for law and accounting firms going under?
ASIC was recently asked in parliament for its views on “prepacks”, or pre-packaged insolvency administrations, with understandably cautious responses given. ...
Employees’ super – why trust the employer?
The Economics References Committee is to report by 22 March 2017 on various issues concerning the non-payment of superannuation by ...
Red Tape Committee and the words of Montesquieu
Montesquieu’s words from the 18th century – “les lois inutiles affaiblissent les lois nécessaires” – are often quoted in the modern ...
Another new co-regulation regime for insolvency practitioners – NZ, following the UK and India
Just as India has introduced co-regulation of its new breed of insolvency practitioners, so has New Zealand acted on a ...
India’s new insolvency professionals regime
A major new insolvency regime commenced in India in May 2016. It introduces co-regulation of insolvency practitioners – IPs – through direct regulation by their ...
An expansion of the Banking Code, or is a change in the law needed?
The story about the conduct of bank officers in the Sydney Insolvency News prompts my suggestion for a widening of ...
European Commission proposes new approach to business rescue in Europe
On 22 November 2016, the European Commission presented a set of new European rules for business insolvency which member states ...
Late payers – what to do? and the ATO wants to know as well
An inquiry into late payments to creditors has been commenced by the Australian Small Business and Family Enterprise Ombudsman. A ...
Australia’s draft Insolvency Practice Rules 2016 – some issues
The draft Insolvency Practice Rules raise a few fundamental issues about due process – natural justice, professional body involvement, confidentiality ...
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 ...
Traill Bankruptcy Conference – much better than the corporate alternative
Read the funding proposal for ASIC’s regulation of liquidators and understand why bankruptcy is so much more advanced. Corporate insolvency practitioners, lawyers ...
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 ...
Insolvency Practice Rules 2016 – draft for comment
The Rules in support of the Insolvency Law Reform Act 2016 have been released in draft for comment by 4 ...
Insolvency practitioners’ offence reporting
Although the government is trying to distance any connection between wrongdoing and a company going into liquidation or a person ...
Review of the big banks
The Treasurer has asked the Standing Committee on Economics to inquire into and report on what is termed a Review ...
Another life insurance inquiry – respond by 18 November…..
The Parliamentary Joint Committee on Corporations and Financial Services is to report by 30 June 2017 on: the need for ...
Single touch payroll – on its way into law
The Senate Standing Committee on Economics has given a report on the Budget Savings (Omnibus) Bill 2016 and has endorsed the Bill’s ...
Consistency in judicial decisions – Marlborough Gold Mines revisited
A rather unsatisfactory situation is developing in the nation’s federal and state superior courts in their exercise of shared jurisdiction ...
