Bankruptcy seems to be the hardest word
The government has not said anything about insolvency law reform for financially struggling individual small business operators among its claimed “the most significant reforms to…
SME insolvency – an alternative approach
Small business enterprises (SME) in Australia are conducted through the full range of legal entities available – sole traders, partners, corporate trusts, companies, associations and…
What is the future of insolvency practice?
The insolvency reforms of 2017 have been seen as a missed opportunity for Australia to introduce internet-based processes and approaches to its insolvency law, which,…
Australia’s small business restructuring practitioners
Australia is proposing a sub-group of liquidator accountants to assist in administering its new corporate SME insolvency laws, set to commence on 1 January 2021,…
Licensing of insolvency practitioners – decision making principles from New Zealand
Mr Damien Grant has succeeded before the High Court of New Zealand in challenging a decision of RITANZ declining to admit him as a member,…
Whistleblowing – panel debate – Bret Walker SC, Kate McClymont, and more – 19 November
The Australian Academy of Law is hosting a free on-line seminar on whistleblowing on Thursday evening 19 November 2020 from 5pm, chaired by Justice Julie…
Insolvency Law Bulletin – Janus-faced SME reforms; new easy ways to avoid preferences; and how to recover gifts of money, maybe
An article in the forthcoming Insolvency Law Bulletin describes the proposed corporate SME insolvency reforms as Janus-faced,[1] the title referring to a claim that the…
Data Availability and Transparency Bill and Australia’s SME insolvency reforms
Following on some decades of government inattention to the collection of adequate statistical data in insolvency, but with law reforms proceeding regardless, the Australian government…
Where’s personal insolvency nowadays? Australian parliamentary confusion
This rather painful transcript of Senate estimates hearing on 27 October 2020 illustrates many things but in particular how small business insolvency law reform is…
Singapore’s new small business restructuring and liquidation regime – a “move away from earlier efforts to ‘hold the line'”
The Singapore parliament passed the Insolvency, Restructuring and Dissolution (Amendment) Bill 2020 on 3 November 2020. It will amend the Insolvency, Restructuring and Dissolution Act…
Dear Parliamentary Counsel
The Commonwealth Integrity Commission Bill 2020 is important in many respects and some would see the following aspect of it as not. But I'll press…
Do the Australian small to medium business insolvency reforms add up?
The numbers upon which the government is relying for the proposed SME reforms[1] don’t seem to add up. Apart from the fact that the reforms…
Is Australia’s insolvency safe harbour protection working – who knows?
The 2 year review of Australia's safe harbour protection for directors, due from the government over a year ago, never took place. Q: The Treasurer…
Australia’s insolvency law reforms – useful information from government officers
On 26 October 2020 the Economics Legislation Committee inquired of various Treasury officers about personal and corporate insolvency law reform, in particular about the proposed…
Caution against “reasoning backwards” in assessing the validity of liquidators’ litigation
A judge has cautioned against “reasoning backwards” to assume that insolvency practitioners’ failed or injudicious legal proceedings either should not reasonably have been commenced or…
SME insolvency reforms – a one year bankruptcy and more
The Australian government’s 2015 proposal to reduce the 3 year period for the imposition of the restrictions of bankruptcy to 1 year remains on foot;…
‘There is no such thing, per se, as “illegal phoenix activity”….’ – ASIC’s claim struck out
A liquidator has successfully applied to have claims by ASIC that he was involved in unlawful phoenix activity in external administrations matters in 2016 struck…
ATO’s right to garnishee – a “privileged position … likely to result in failed corporate rescue attempts”?
A recent article Getting the priorities right: ATO garnishee notices in times of corporate distress by Sylvia Villios and David Brown[1] has highlighted what is…