PJC Insolvency Inquiry 2022
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
Review of the Franchising Code of Conduct – and insolvent franchisors
The federal government has announced a Review of the Franchising Code of Conduct and has issued a consultation paper of
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
Insolvency law reform in Australia – three underlying concerns
With over 70 submissions from a wide variety of stakeholders and numerous answers to questions on notice, the parliamentary joint
Personal insolvency numbers – an increase or a decrease?
While AFSA reports that personal insolvencies increased in number in February 2023, to 796, from 772 in January, this was
ASIC’s insolvency law enforcement role
The Senate Economics References Committee is loading up submissions received on its reference into ASIC’s capacity and capability to “undertake
Business bankruptcies – 6,000 to 9,000 each year
Given that ‘small business’ itself is defined in various ways, none of which is based on the legal structure of
