New Zealand’s COVID-19 insolvency measures – safe harbour; debt hibernation
The New Zealand Government has announced it will be introducing legislation to make changes to the Companies Act to help companies facing insolvency due to…
ARITA’s ‘bushfire and COVID-19’ request to government for funding
ARITA – the main Australian industry body representing insolvency practitioners and lawyers - has asked the government[1] for funding to enable it to address various…
Managing the insolvency curve – a new government role is needed?
There is expected to be a wave of businesses and individuals going into liquidation or bankruptcy despite the huge financial measures being taken by the…
Changes to Australia’s insolvency laws – some different perspectives
The recent changes to Australia's insolvency laws are being well explained by the experts. These are some comments from me both on the changes and…
How to best handle a major airline collapse
When a government sets up an inquiry into how to deal with the insolvency of a certain industry, the industry and those involved in it…
Australia’s inconsistent tax and insolvency laws
Recent research has revealed that although the Australian Taxation Office (ATO) lost its priority in insolvencies in 1993, and was relegated to a pari passu…
New UK Insolvency Code of Ethics
A new version of the Insolvency Code of Ethics will apply from 1 May 2020 to all insolvency practitioners in the UK. In its reliance…
The proposed reinvigoration of the UK’s business rescue culture through ‘recalibration of the balance of power’ – some steps too far for Australia?
A recent academic article from the UK has reviewed proposed restructuring reforms announced by the government in August 2018, although yet to be implemented. These…
Disclosure of business tax debts to credit agencies
Law allowing the Australian Taxation Office (ATO) to disclose tax debt information of businesses – corporate and personal, over AU$100,ooo in debt - to registered…
What has happened to the proposed beneficial ownership of shares register?
A review of the ASIC Annual Report 2018 by a parliamentary committee was tabled only in February 2020. The report has a section headed: ‘What…
Cross-border insolvency hearing between Australia and New Zealand
The Federal Court of Australia requested the High Court of New Zealand to help it jointly hear applications on 18 February relating to the pooling of…
A review of Australia’s insolvency practitioner regulation system
Given a choice between a good insolvency law and poor practitioners, and good practitioners and a poor insolvency law, the latter is preferred. Australia seems…
Million pound fines for breach of insolvency standards
The million pound fining of an insolvency firm and its administrators by the English accounting body ICAEW illustrates the differences between the UK’s insolvency co-regulatory…
A pointless distinction in corporate insolvency
In the 19th century, where much corporate insolvency law thinking still remains, a distinction was made between court ordered liquidations on the one hand, and…
Review of Australia’s insolvency safe harbour – s 588GA
Australia’s ‘safe harbour’ regime under s 588GA is due for review, since September 2019, as to whether it offers the right balance between creditor compensation…
How low can we go – funding the insolvencies of assetless estates
Obvious as it is to say, insolvency involves limited or no money, and how to fund its existence as a legal regime is an issue…
Selfies of Australian insolvency practitioners – not looking good …?
Recent Australian academic research reveals an insolvency industry comprising practitioners with low self-identity, lacking in self-confidence and with a limited outlook. The research is based…
The 2020 insolvency practitioner codes
New insolvency practitioner codes have issued in Australia, with the UK and NZ perhaps not far behind. It remains to see whether the codes are…