PJC Insolvency Inquiry 2022

Insolvency law’s elephants in the room

Professor Jason Harris and I will be presenting a session at INSOL Academics Colloquium in San Diego USA on 22

ASIC’s review of offence reporting – RG 16

In response to the PJC Report, although a bit premature, ASIC is reviewing its RG 16, on offence reporting obligations,

Small business sole trader insolvencies

A recent newspaper report on the trend of insolvencies in small business was interesting for the reason that it acknowledged

Report on the Franchising Code of Conduct – and insolvent franchisors

Further to my comments of September 2023 below as to a review of the franchising code of conduct, that review

Offence referrals by liquidators

Offence referrals to ASIC by liquidators continue to be contentious and perhaps distracted by the issue of claimed automated decision-making

Insolvent trading in context

Insolvent trading is one of the many items for review recommended by the Parliamentary Joint Committee report on Corporate Insolvency. 

‘Masculinity contest cultures’, and gender imbalance?

Evidence before the Parliamentary Joint Committee inquiry into Ethics and Professional Accountability [1] (PJC inquiry) may assist in considering the

Some insolvency law reform ideas from Scotland and New Zealand

“ … the state is, effectively, paying insolvency practitioners to end the life of small companies … a sub-optimal solution

Public interest supports time extension for insolvency recovery action

Litigation claims brought by insolvency practitioners (IPs) are not like the usual commercial claims on behalf of a commercial, or

ASIC v Jones [GD Pork] – insolvency practitioner independence and pre-insolvency advice

A court decision concerning insolvency practitioner independence and pre-insolvency advice usefully raises issues recommended for law reform review by the

Marginal annual increase in personal insolvencies said to be in line with high numbers forecast

There was a total of 9,930 personal insolvencies in Australia in the 2022–23 financial year – around 4% higher than

ASIC v Bettles – case dismissed, with costs

ASIC has lost a major Federal Court proceeding brought against a senior and experienced liquidator, Jason Bettles, alleging that his

PJC Recommendation – Pre-Insolvency Advisers – Part 1: summary

The full article on this topic of 1800 words, for those interested, looks that the PJC Report recommendations about “untrustworthy

PJC recommendation – pre-insolvency advisers – Part 1

The PJC Report on Corporate Insolvency 2023 has responded to concerns expressed about “untrustworthy pre-insolvency advisers”, those that are said

UK personal insolvency reforms – summary of responses and next steps

In my comments of July 2023 following, I reviewed the 2022 call for evidence in the UK on reform of

Businesses are rarely neatly arranged when insolvency strikes

While the government is thinking about the various recommendations of the PJC Report[1] about improving our current corporate insolvency laws,

ASIC beleaguered – updated

Updated 29 July 2023. Given the number of current and on-going inquiries into ASIC, it is as if the regulator

Thoughts on the PJC’s Corporate Insolvency Report

The Parliamentary Joint Committee on Corporations and Financial Services (‘PJC’) handed down its Report into Corporate Insolvency in Australia on

Offence reporting by insolvency practitioners

What is said to be the limited response by ASIC to corporate misconduct reports by liquidators is the subject of

UK insolvency practitioners to come under direct government regulation

At the same time that the chair of the Australian PJC inquiry into corporate insolvency, Senator Deborah O’Neill, said that

Increase in Australian insolvency numbers

Personal insolvency numbers show a continued increase in numbers but still well below past figures; on the other hand, corporate

Should the firms of insolvency practitioners be regulated, along with the practitioner?

While Australia is currently focusing on the standards of conduct of accounting firms, and their partners – see Ethics and

The respective complexities of corporate and personal insolvency

A question on notice of 1 March 2023 was asked by the chair of the Parliamentary Joint Committee on Corporate

Anti-money laundering laws to be improved, including registers of beneficial owners

The 2023 budget has allocated funds for action on Anti‐Money Laundering and Counter‐Terrorism Financing (AML) laws, including a beneficial ownership