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Deregistered companies – UK reforms and some Australian comparisons
The UK Insolvency Service is to be given powers to investigate directors of companies that have been dissolved, or in ...
Australia’s limited insolvency reforms for small business
With our international trading partners recently meeting to examine ways to handle micro to small enterprise (MSE) insolvency impacted by ...
Bankruptcy trustee independence
The Australian personal insolvency regulator and government trustee, AFSA, has produced a useful report – Practitioner Independence in the Personal ...
World Bank insolvency principles – how does Australia compare?
The World Bank has released its updated Principles for Effective Insolvency and Creditor/Debtor Regimes (the Principles), emphasising the needs of ...
The UK’s Technical Guidance for Official Receivers – a published resource for Australian practitioners and regulators
The Insolvency Service in the UK has issued an updated version of its Technical guidance for Official Receivers[1] in administering ...
NSW registered clubs (law) in trouble, again
What are described as the “arbitrary powers of the NSW Independent Liquor & Gaming Authority (ILGA)” are the subject of ...
Move bankruptcy from the Attorney-General to Treasury?
In light of the Attorney-General’s need to transfer some matters of his responsibility, a worthy area to transfer is the ...
Double suspension as a liquidator and as a trustee
An experienced Australian insolvency practitioner (IP) has had his right to practise as a liquidator suspended by a Court for ...
Apprehensions of the fair-minded lay observer – a law reform review of judicial impartiality
The Australian Law Reform Commission has been asked to undertake a review of the laws relating to impartiality and bias ...
Should a person be subject to restrictions after an insolvency?
The default period of restriction on a person following their personal insolvency is under consideration in Australia. It prompts the ...
The directors of Kids Company – “actions of public bodies do not have the effect of dissuading able and experienced individuals from becoming or remaining charity trustees”
A significant English High Court decision has been given refusing to make banning orders against trustees (directors), and the CEO, ...
Liquidator’s registration suspended not cancelled, by agreement
In A liquidator disciplinary decision – some regulatory insights | Murrays Legal Commentary , I reported an AAT decision refusing ...
‘Modernising’ insolvency communications
The Australian government’s consultation paper – Modernising Business Communications – Improving the Technology Neutrality[1] of Treasury Portfolio Laws, of December ...
Australia’s new liquidator registration processes, and its ‘new liquidators’
On 30 December 2020, ASIC issued guidance on the new liquidator registration processes that apply in Australia two days hence ...
Bad bankruptcy notices
A bankruptcy notice was found to have been wrongly issued by the Official Receiver because it did not attach a ...
Australia’s litigation funding market a ‘global hotspot for international investors … many based in tax havens and with dubious corporate histories’ with returns of ‘more than 500%’
The tone and findings of this 454 page report by the Parliamentary Joint Committee on Corporations and Financial Services – Litigation ...
Australia’s corporate SME insolvency law may soon become law – and then….
The Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 progressed through a third reading in the Australian parliament on 8 December ...
Australian insolvency practitioner disciplinary decisions – short but to what point?
This report of two insolvency practitioner disciplinary decisions in Australia will be brief because the decisions, or their publicly released ...
Australia’s small business restructuring practitioners
Australia is proposing a sub-group of liquidator accountants to assist in administering its new corporate SME insolvency laws, set to ...
Data Availability and Transparency Bill and Australia’s SME insolvency reforms
Following on some decades of government inattention to the collection of adequate statistical data in insolvency, but with law reforms ...
Where’s personal insolvency nowadays? Australian parliamentary confusion
This rather painful transcript of Senate estimates hearing on 27 October 2020 illustrates many things but in particular how small ...
Do the Australian small to medium business insolvency reforms add up?
The numbers upon which the government is relying for the proposed SME reforms[1] don’t seem to add up. Apart from ...
Australia’s insolvency law reforms – useful information from government officers
On 26 October 2020 the Economics Legislation Committee inquired of various Treasury officers about personal and corporate insolvency law reform, ...
Caution against “reasoning backwards” in assessing the validity of liquidators’ litigation
A judge has cautioned against “reasoning backwards” to assume that insolvency practitioners’ failed or injudicious legal proceedings either should not ...
