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Reviewing liquidators – under review?
ASIC has announced that it has appointed 15 new members to its Reviewing Liquidator Panel, following the expiry of the ...
ASIC’s civil penalty regime – an academic review
In the midst of a focus on the enforcement activity of ASIC following a critical Senate Committee report,[1] we have ...
Splitting ASIC 2024 and the 2010 Senate Committee Report
In the discussions about separating ASIC’s tasks following the July 2024 Senate Economics References Committee report – Australian Securities and ...
Senate report on ASIC’s investigation and enforcement roles – July 2024
The Senate Economics References Committee has issued its Report – Australian Securities and Investments Commission – investigation and enforcement, of ...
The 2023 Parliamentary Joint Committee Report and insolvency law reform?
While the federal government is yet to give its response to the PJC Report on Corporate Insolvency of July 2023, ...
ASIC’s review of offence reporting – RG 16
In response to the PJC Report, although a bit premature, ASIC is reviewing its RG 16, on offence reporting obligations, ...
“Thousands and thousands of pounds have been lost …”
By way of an update to this post, on 11 June 2024 the Federal Court adjourned the 14 June case ...
Insolvency practitioners as employees
Updated on 5 March 2024 to refer to a 1996 Explanatory Memorandum in bankruptcy which says that, despite the case law, ...
Insolvency Practitioner Registration and Disciplinary Committees
I am pleased to have been appointed by the government as a part‑time member to the Ministerial pool for the ...
Report on the Franchising Code of Conduct – and insolvent franchisors
Further to my comments of September 2023 below as to a review of the franchising code of conduct, that review ...
Offence referrals by liquidators
Offence referrals to ASIC by liquidators continue to be contentious and perhaps distracted by the issue of claimed automated decision-making ...
Cancellation of a bankruptcy trustee’s registration and freezing orders obtained
The registration of Australian bankruptcy trustee Mr Paul Leroy was cancelled by the Inspector-General in Bankruptcy (IGB) on 2 February ...
New corporate definitions of director, officer and asset
Following the ALRC’s work on Ch 7 of the Corporations Act, attention has already been given to legislative changes tidying ...
Corporations Act redrafting – ch 5?
Some years ago, I suggested to a Treasury officer that Ch 5 of the Corporations Act be redrafted and simplified. ...
The new Administrative Review Tribunal and law for the relief of insolvent debtors
On 7 December 2023, the government introduced legislation that would abolish the Administrative Appeals Tribunal (AAT) and establish what it ...
NOCLAR – accountants’ reporting of offences
Some while ago, I took an interest in the professional obligation that accountants decided to impose on themselves to respond ...
NZ insolvency practitioner sanctioned
A sanction of a New Zealand liquidator for the poor handling of his matters provides an illustration of New Zealand’s ...
Bankruptcy Act restructure – when statements of affairs are accepted
AFSA advises that the Bankruptcy Amendment (Discharge from Bankruptcy) Act 2023 (Cth), came into force on Thursday 23 November 2023. ...
Australia on a slide? [continued]
While I need to update my February 2022 comments below, and note for example that the government has now given ...
Slow pace of litigation and incomprehensible laws
Former Federal Court judge Steven Rares is reported in the AFR[1] as having made several comments about the justice system ...
The business structures of SMEs
A recent article in the Australian Business Law Review – Not in isolation: The Rationale for a Combination of Business ...
Annual reports 2022-2023: of ASIC – ‘a deliberate strategy of obfuscation so that the public is kept in the dark ….’? and of AFSA
ASIC’s ASIC Annual Report 2022–23 has been released amidst some recent severe criticism of the quality of its annual reports ...
‘Masculinity contest cultures’, and gender imbalance?
Evidence before the Parliamentary Joint Committee inquiry into Ethics and Professional Accountability [1] (PJC inquiry) may assist in considering the ...
Australian voluntary administrators appointed as New Zealand interim liquidators
In Insolvency licensing bodies confirmed for New Zealand’s new regulatory regime – Murrays Legal, of August 2020, I explained the ...
