Insolvency protections extension to 31 December 2020
The Corporations and Bankruptcy Legislation Amendment (Extending Temporary Relief for Financially Distressed Businesses and Individuals) Regulations 2020 serve to extend the existing insolvency protections to…
A 2012 committee of creditors found in 2020 to be invalidly appointed
In May 2012 a national Australian transportation company was put into liquidation and on 2 July, a meeting of creditors was held which purported to…
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…
INSOL’s report on practitioner remuneration – another perspective
There is more to insolvency practitioners' (IP) remuneration than is usually presented, and this commentary explains relevant issues not generally addressed, and in a broader…
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…
Apprehensions of the fair-minded lay observer – a review of judicial impartiality
The Australian Law Reform Commission has been asked to undertake a review of the laws relating to impartiality and bias as they apply to the…
Bankruptcy and family provision claims
In Bankrupt for Life, concerning the way a person can remain bankrupt for ever in Australia if they never file their statement of affairs (SOA),…
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 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…
Bankrupt for life?
An Australian personal bankruptcy lasts for a minimum of 3 years in Australia - whether it is an overly committed consumer or an economically impacted…
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…
Australian SME insolvencies – the ATO as the solution?
While the government is no doubt considering a range of options to allow the insolvency system to cope with what is predicted to be a…
The potential for conflicts of interest in professional co-regulation
Referrals to a disciplinary committee of two senior insolvency practitioners with connections prompt my further explanations of Australia’s insolvency practitioner regulation system and raise issues…
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…
Extension of insolvent trading concessions – flake news?
Someone government person called Andrew is saying that the insolvent trading protections for directors will be extended beyond 25 September 2020? https://www.skynews.com.au/details/_6178269074001 Flake news? Is…
Income of a bankrupt – “even accepting that chattels might … be received as income, a ship is a very different proposition”.
An unlikely case about the salvage of a 120 year old wooden ship – the Defender - has found its way into bankruptcy law, with…
Funding of insolvency claims – the PJC inquiry: revised
A submission by Adelaide academics in relation to insolvency litigation funding came before the Parliamentary Joint Committee on 24 July, well presented by Professor Lombard…
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…