UK’s plan to give great access to corporate data, beneficial ownership etc
In What has happened to the proposed beneficial ownership of shares register? in February 2020, I asked what has happened to the Australian government’s ”First…
A 2012 committee of creditors found in 2020 to be invalidly appointed
In May 2012 a national Australian transportation company was put into liquidation and on 2 July, a meeting of creditors was held which purported to…
A “private arrangement” between a liquidator and the Tax Commissioner
The Commissioner of Taxation has purchased a litigation claim from a liquidator, on what terms we are not permitted to know. One of the reforms…
INSOL’s report on practitioner remuneration – another perspective
There is more to insolvency practitioners' (IP) remuneration than is usually presented, and this commentary explains relevant issues not generally addressed, and in a broader…
UK gearing up for major corporate liquidations in ‘unpredictable times for the insolvency sector …’
In what appears to be ominous but necessary preparation for the continued economic consequences of COVID-19, the UK Insolvency Service is seeking insolvency practitioner firms…
Insolvency Law Bulletin – safe harbour, Tiger Resources, Virgin and who’s the employer
The latest Insolvency Law Bulletin contains a warning about the (then) ending on 24 September of the COVID-19 protections, now since extended to 31 December.…
Bankruptcy and family provision claims
In Bankrupt for Life, concerning the way a person can remain bankrupt for ever in Australia if they never file their statement of affairs (SOA),…
Some parliamentary reminders for ASIC’s 2020 annual report
The 1 September 2020 report of the Parliamentary Joint Committee on Corporations and Financial Services on the 2018–2019 annual report of ASIC has pointed out…
Extension of the COVID-19 insolvency protections – what’s the real problem?
The Australian government has extended the monetary threshold of A$20,000 for the commencement by creditors of bankruptcy and liquidation proceedings and the 6 month periods…
Courts ‘should be wary of [liquidator] disclaimers where environmental liabilities are to be passed onto taxpayers or innocent persons’
A court has set aside liquidators' disclaimer of contaminated property on a challenge by the environmental regulator. Particularly in a voluntary liquidation of a company,…
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 20 recommendations made seek to…
Insolvency licensing bodies confirmed for New Zealand’s new regulatory regime
The New Zealand Registrar of Companies has approved the first licensing bodies for the commencement of the new regulatory regime for its insolvency practitioners on…
Insolvency and debtor in possession – hospital or home care?
If Joe thought he might have a serious medical condition, but did not want to go to hospital for a period of some weeks to…
New Zealand’s $1 insolvency practitioner regulation levy
The new New Zealand insolvency practitioner regulation regime, commencing on 1 September 2020, will be funded in part by a $1 fee on all company…
Bankrupt for life?
An Australian personal bankruptcy lasts for a minimum of 3 years in Australia - whether it is an overly committed consumer or an economically impacted…
Can a debtor resist a bankruptcy arising from COVID-19?
So far the courts in Australia have not had to deal with many creditors’ bankruptcy petitions against debtors in the current COVID-19 environment. What with…
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 is predicted to be a…
The potential for conflicts of interest in professional co-regulation
Referrals to a disciplinary committee of two senior insolvency practitioners with connections prompt my further explanations of Australia’s insolvency practitioner regulation system and raise issues…