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…
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…
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…
Virtual Panel Series – UNCITRAL Texts and COVID-19 Response and Recovery – MSMEs and access to credit and secured lending
An interest group in Australia, the UNCITRAL Coordination Committee for Australia (UNCCA), has a role in monitoring and attending UNCITRAL[1] sessions including those of UNCITRAL’s…
Liquidators’ remuneration in Halifax referred to a referee
Going back some years, Australia rejected a single insolvency regulator for its personal insolvency practitioners on the one hand, and its corporate insolvency practitioners on…
“Insolvency business is booming …” in the UK
Adrian Duncan was an insolvency practitioner in Australia years ago.[1] He now practises in the UK and it seems is doing quite well given what…
How much to regulate an Australian liquidator? a NZ liquidator?
While ASIC is currently taking submissions on its proposed funding charges for the regulation of Australian liquidators, and other groups – see Cost recovery implementation…
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…