New Zealand – corporate insolvency practitioner regulation
The New Zealand government has called for submissions on the proposed minimum standards and conditions for the licensing of insolvency practitioners under the Insolvency Practitioners…
Small business insolvency – the Ombudsman inquiry
The Australian Small Business and Family Enterprise Ombudsman has established an inquiry into “the insolvency system” to report by February 2020, focusing on practitioners, lawyers,…
NZ insolvency practitioner costs recovery fees
The New Zealand government has released a discussion paper on proposed regulations concerning fees and other arrangements in preparation for the commencement of the co-regulatory…
Digital disruption is here but “progress towards a digital insolvency practice has to date been slow”
A recent journal article on the impact of artificial intelligence and its use by the insolvency profession has good and bad news - the good…
‘A good idea’ – assignment of a liquidator’s recovery rights
A liquidator has transferred, with court approval, potential recovery claims to the ATO, as the major and only creditor in a liquidation. The law concerning…
ASIC’s deterrence message – “no point just communicating this into the Fin Review”.
ASIC gave some useful insights before the recent Senate oversight hearing[1] on 13 September as to the reality of the effectiveness of its proposed and…
Use of referees in insolvency litigation
Justice Michael Lee of the Federal Court of Australia has called for a more proactive response from liquidators and trustees and their lawyers in pursuing…
ASIC’s period of external scrutiny
The Australian Securities and Investments Commission is properly subject to parliamentary oversight, apart from the on-going scrutiny it receives from its various stakeholders. At least…
Climate change and the law
Here are details of two recent events on climate change and the law, followed by details of a range of other issues covered by Murrays…
Regulation of Australian insolvency practitioners – UK and NZ compared
I am pleased to be soon presenting to various groups on the regulation of Australian insolvency practitioners, with some comparisons with England and New Zealand.…
International Association of Insolvency Regulators’ Conference – 2019
Australia is attending and presenting at the annual insolvency regulators' conference, along with regulators from the UK, the US, New Zealand, Singapore and others. …
Accountants’ insolvency code updated
A new standard for insolvency practitioners - APES 330 - has just been issued written in APESB's unique style and offering guidance on issues in…
ASIC’s Corporate Plan 2019-2023 – Insolvency Practitioners
ASIC’s corporate plan 2019-2023 contains much detail about the various sectors it regulates and what regulatory approaches it is taking. This is a list of…
Winding up a company for $2,000?
A court has suggested that the minimum debt amount for which a creditor can proceed to apply to wind up a debtor before the court…
Insolvency practitioner offence reporting – a need for reform
If liquidators in Australia are investigating and reporting to ASIC "thousands" of breaches of the law by those involved in insolvent companies each year, most…
ARITA’s 8 (plus?) point plan for insolvency law reform
One of the main insolvency professional bodies in Australia – ARITA[1] - has released what it calls its “8 point plan” to comprehensively review and…
Australian insolvency law – current reforms
As in many countries, general elections put law changes and reform on hold pending the new government’s decisions on pending law. The government was returned…
“Shortcomings of the Model Law on Cross-Border Insolvency (just some)”
Professor Martin Davies of Tulane Maritime Law Center recently offered a critique of the Model Law on Cross Border Insolvency at a presentation at Sydney…