phoenix activity

ASIC’s power to wind up abandoned companies – a drop in the ocean?

ASIC has revised its guidance on the exercise of its powers to order the winding up of an abandoned company, …

Deregistered/dissolved companies – let them be?

The UK Insolvency Service has been granted new investigative and disqualification powers to regulate directors who ‘dissolve’ (in Australian terms, …

Deregistered / dissolved companies – let them be?

The UK Insolvency Service has been granted new investigative and disqualification powers to regulate directors who ‘dissolve’ (in Australian terms, …

Costs against ASIC in its [“illegal phoenix activity”] claim against a liquidator

ASIC has been unsuccessful in resisting a costs order against it in its “illegal phoenix activity” proceedings against a liquidator …

Deregistered companies – UK reforms and some Australian comparisons

The UK Insolvency Service is to be given powers to investigate directors of companies that have been dissolved, or in …

Corporate Criminal Responsibility – final ALRC report

The Australian Law Reform Commission report, Corporate Criminal Responsibility (ALRC 136), was tabled in Parliament on 31 August 2020. The …

Australian SME insolvencies – the ATO as the solution?

While the government is no doubt considering a range of options to allow the insolvency system to cope with what …

ASIC’s initial claim of illegal phoenix activity by a liquidator now the subject of a 160 page statement of claim

This post is further updated on 26 February 2021 to reflect that ASIC filed its statement of claim against Mr …

The new law’s limitations in controlling phoenix misconduct

The new anti-phoenix laws, so welcomed in certain quarters, will come up against some business and personal behaviours that are …

MYEFO 2019-20 – ASIC, phoenixing and ‘journalists’

The government’s mid-year economic and fiscal outlook 2019-20 has these interesting items about access to ASIC’s registers, unlawful phoenixing and …

Liquidator’s fees were too low

Adverse findings have been made against a liquidator by a disciplinary committee, one being that he accepted fees that were …

Insolvency Law Bulletin – penalties, phoenix & preferences, franchises & offence reports

The latest issue of the Insolvency Law Bulletin (2019) 20(4&5) covers some very topical issues. The Halifax Investment Services matter …

Corporate phoenixing – a crime?

The Australian Law Reform Commission has released a Discussion Paper addressing a number of aspects of its reference on corporate …

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 …

England’s approach to ‘phoenixism’ – joint and several liability

English law’s latest proposed reforms in relation to abuse of its tax laws through insolvency, including through ‘phoenixism’, seem to …

Competing with phoenix operators, rather than combatting – a goverment liquidator

The World Bank has come out with reports[1] that support the Australian government’s attempts to control unlawful phoenix activity, by …

Offence reporting in insolvency

In reporting breaches of the law to ASIC, and triggering action by ASIC, liquidators are not required to express any …

What’s up, or on, in insolvency, early in 2018?

The following commentary on submissions due, events and conferences, professional standards, international and local, hearings and case law*, all in …

Professional ethics – Academy of Law Debates for 2017

A series of public debates on ethical conduct in the law, accounting and business was a significant contribution to this …

QUT Law Review – a special issue on personal insolvency

Australia’s current major bankruptcy law reforms are necessarily informed by a range of academic and professional input, from here and …

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 …

Why does the Federal Circuit Court not have corporate insolvency jurisdiction?

This is not a plug for the Federal Circuit Court of Australia, which sits below the Federal Court, but it …

Where’s an economist when you need one?

R3 in the UK has commented on a recent OECD Report, about which we gave some views when it came …

Keay – phoenix reforms

It is good to see that that several reform issues raised in my and Jason Harris’ textbook, Keay’s Insolvency, appear …