Funding of insolvency claims – the PJC inquiry: revised
A submission by Adelaide academics in relation to insolvency litigation funding came before the Parliamentary Joint Committee on 24 July, well presented by Professor Lombard…
Cross-border proof of an Australian bankruptcy
A certificate of appointment under Bankruptcy Regulation 8.02 in relation to a voluntary bankruptcy should generally be sufficient to support a trustee’s proposed application overseas…
Ombudsman’s company insolvency recommendations
The ASBFEO (Ombudsman) has asked that the government fix what is said to be a broken corporate insolvency system in Australia before the apocryphal ‘insolvency…
Company deregistration – government’s fast track response to assetless companies
Fast-tracking insolvent assetless companies through a default de-registration process was introduced, in effect, by the Insolvency Law Reform Act 2016 (ILRA). In removing the arcane…
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…
Protected: Australian Insolvency Losers System (in vol admin) – commercial in confidence
In conducting investigations for the preparation of my hypothetical s 439A report for the second meeting of creditors on 24 July 2020, information now available…
Mainzeal’s NZ$36m reckless trading appeal pending; bankruptcy of director deferred
Liquidators of Mainzeal with a NZ$36m judgment for reckless trading against the company's directors have failed in an attempt to bankrupt one of the directors…
Managing Australian and New Zealand insolvency practitioners
CAANZ took a worthy leap some years ago in bringing the Australian and New Zealand accounting professions together. Given that an “accountant” has a limited…
New Zealand’s insolvency practitioner regulation regime, from 1 September 2020
A new insolvency practitioner regulation regime for New Zealand will start on 1 September 2020, according to RITANZ, only a short time after its intended…
Powers of attorney – South Australian law reform initiative
The South Australian Law Reform Institute (SALRI) is examining the role and operation of Powers of Attorney in SA and whether the current laws that apply…
Gold company director cards?
Directors of companies will finally have an easy way of keeping their company details up to date when the director identity number – the DIN…
Is the Australian insolvency system insolvent?
That is broadly the topic of a paper tentatively titled “the Australian insolvency system (in voluntary administration) - the s 439A report" soon being presented…
Regulation of insolvency practitioners by accounting bodies
The outcomes of co-regulation of UK insolvency practitioners are explained in a May 2020 report of the ICAEW, with some comparisons drawn with the regulation…
Australian Small Business Ombudsman’s ‘COVID-19 Recovery Plan’ – ‘turnaround and insolvency’
The Australian Small Business and Family Enterprise Ombudsman has issued a COVID-19 Recovery Plan, of May 2020. Within that the Ombudsman makes some recommendations about…
Behind the UK government insolvency reforms
The Corporate Governance and Insolvency Bill has been introduced into the United Kingdom Parliament and is due for debate on 3 June. This article in…
Who should pay for the costs of the administration of an insolvency?
A debtor in Australia pays no fee to have themselves made voluntarily bankrupt. If that does not seem odd, then it should be further explained…
Crime and insolvency, Australian style
There is not much correlation between crime and insolvency, in my researches, certainly in comparison with crime in the world of solvent individuals and companies.…
New Zealand’s COVID-19 laws on reckless trading and debt hibernation
The COVID-19 Response (Further Management Measures) Legislation Bill has been introduced into the New Zealand parliament is now before the Epidemic Response Committee. It is…