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…
Liquidators’ remuneration – “most businesses do not charge out that way”
A Judge apologised at the start of his judgment for the length of time he took to determine liquidators’ remuneration. On reading the judgment, and…
Insolvency Law Bulletin – June 2020
The latest issue of the Insolvency Law Bulletin has just appeared containing a wide range of topics in personal and corporate insolvency, with the COVID-19…
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…
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…
Preferences paid by company under a DOCA – based upon a reading of the section
A company under a 2013 deed of company arrangement made payments to the Deputy Commissioner of Taxation. The deed was terminated in 2017 and the…
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.…
Ponzi investors suing ANZ Bank for their losses
The ANZ Bank has failed to have struck out a claim against it by investors in what was the largest Ponzi scheme New Zealand’s history…
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…
Impact of the Jackson reforms on insolvency litigation in the UK
An April 2020 report in the UK by Professor Peter Walton on the impact of the ‘Jackson’ legal costs reforms on insolvency litigation reveals that…
Insolvency practitioner independence – law and practice
One of Australia's insolvency bodies, ARITA, has issued a reminder to its members about the need for liquidators to maintain their independence, saying that ‘it’s…
Some thinking about insolvency pre-packs, panels and more
In a newspaper article of 20 April 2020* promoting a new ‘restructuring business’, some ‘new thinking’ is offered on changes needed to meet what is…
UNCITRAL guidance on MSE insolvency – Insolvency Law Bulletin article
An article in the latest Insolvency Law Bulletin[1] reports on the progress of UNCITRAL Working Group V[2] in developing law reform guidance on the resolution…
Cryptoassets, hot and cold wallets, and a liquidation
Was cryptocurrency 'property' of a company in liquidation, and was it held on trust for the accountholders? Cryptopia Ltd (in liq) originated as a ‘hobby’…
New Zealand insolvency practitioner regulation – possible delay
The new corporate insolvency practitioner licensing regime in New Zealand, due to start in July 2020, may be put off for one year. The Insolvency…
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…