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,…
Spent convictions of insolvency practitioners
According to a report from Stuff in New Zealand, a long-established liquidator has been denied permission to continue to practise based upon his convictions for…
‘In the ordinary course of business’ in insolvency – why are we following wrong thinking New Zealanders?
The term ‘ordinary course of business’ in law is meant to describe a transaction that was within the normal operations of a particular business, it…
Choosing practitioners to administer Australian MSME insolvencies
The Australian government is presently finalising its draft SME insolvency law reform proposals. Apart from getting the law right, as significant a task is deciding…
Who wants to be an SME insolvency practitioner? Australia’s proposed reforms
Australia proposes to follow England’s lead in giving insolvency practitioners the initial role in new debtor in possession insolvency reforms, but in rather different ways.[1] …
Duties of directors of insolvent companies – New Zealand Supreme Court decision
The NZ Supreme Court has given a significant decision on the duties of directors in the face of their company's financial difficulties. Comparison is made…
Fightback! SMEs get a new restructuring tool
The federal Treasurer has announced a new restructuring regime for struggling small to medium enterprises (SMEs)[1] which adopts a ‘debtor-in-possession’ model for companies owing less…
Under the Trans-Tasman Mutual Recognition laws, licensed New Zealand insolvency practitioners should be able to practise in Australia …
New Zealand has a new insolvency practitioner regulation regime which commenced on 1 September 2020. The regime has processes allowing Australian registered liquidators to be…
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 “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…
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…
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,…
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…
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…
New Zealand’s bankruptcy monopoly – an MP’s parting comments
The New Zealand Official Assignee administers all personal insolvencies; it shares the administration of corporate insolvencies with the private sector. A Labour member of the…
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…