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…
A liquidator who stood to lose fees if his proceedings were not able to proceed
A company liquidator had unpaid fees amounting to $352,383 in his administration of a liquidated company – All Class - which had been left with…
Liquidator’s registration cancelled by ASIC
A company liquidator has had her registration cancelled following a decision by a statutory disciplinary committee that she had improperly used her position, falsified books…
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…
Insolvency litigation funding – too much hand-holding?
A joint parliamentary inquiry into class actions and litigation funding has set down public hearings throughout July 2020.[1] The inquiry and some of its submissions…
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…
Leave to proceed against a bankrupt; but with questions about the legal representation
In an employee's otherwise ordinary unpaid wages case the respondent employer went bankrupt mid- hearing and the employee's legal representation was found by the Judge…
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 is an employee, and who is the employer? Common questions in insolvency administrations
Whether a person is an employee or a contractor, and if an employee, who is the employer, can be important, in many contexts, including when…
Important rules in reviewing registrars’ sequestration orders
Chief Justice James Allsop of the Federal Court of Australia has written, both in his judgments and extra-judicially,[1] of the fundamental importance of personal bankruptcy…
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…
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…
Further Covid-19 Restructuring Survey Results – Australia
In my post of 3 May 2020, I reported on various surveys both during the COVID-19 crisis, and before. One that was then pending was…