PJC Insolvency Inquiry 2022
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 ...
Parliamentary insolvency inquiry – the business model of insolvency firms
Some fundamental issues about the operation of insolvency law and practice are being raised in the joint parliamentary committee inquiry ...
PJC insolvency inquiry – deregistered companies submission
An early submission to the Parliamentary Joint Committee inquiry into corporate insolvency from Mr Russell Morgan, liquidator, of 15 November ...
The Parliamentary Joint Committee and “small business insolvency”
The terms of reference of the current PJC inquiry into corporate insolvency refer at times to small business but given ...
The several inquiries into ASIC
There are now several government inquiries into ASIC, directly or indirectly, perhaps indicating either the breadth of ASIC’s remit, or ...
Australia’s review of its corporate insolvency laws – updated
The hearing in relation to the law of set-off and insolvency in Metal Manufacturers Pty Limited Gavin Morton as liquidator ...