Interesting From The US

Amidst all the hype and hoo-hah of the US Presidential election along with the post inauguration debates on who can do what, and who can’t. Including the potential realisation that there may well be American laws written that are devoid of judicial review, and thus outside of the ability of a Court to ‘correct the … Continued

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It’ll be a joke

Today I have signed off on the closure of one of our corporate windings up, and in light of the recent proposed changes to the Bankruptcy Act, I feel compelled to tell the story publicly. The story begins with a group of Chinese investors who decide to establish a small chain of entertainment venues in … Continued

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Insolvency Law Reform Act 2016- A carrot and stick approach to the Insolvency System

After more than two years in the making, the Insolvency Law Reform Act (“ILRA”) has finally passed into law with a commencement date expected early in 2017.  As many of the industry would (or should) be aware, the ILRA comprises the latest series of reforms prompted largely by a perceived lack of integrity and transparency … Continued

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Let’s get real

I listened to the radio this morning and the topic quickly flowed to the desperate need for investment into innovation in this country.  Halleluiah I say!  It is about time we started to seriously look at all forms of investment in this country rather than simply property, superannuation and the stock market; but that is … Continued

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Is it worth having a Will?

By Bob Cruickshanks and Hiteshi Dekhtawala As Benjamin Franklin once said “In this world nothing can be said to be certain, except death and taxes.”. Most people take the time and effort to prepare a will in which they detail how their accumulated worldly possessions are to be divided between their surviving relatives and/or friends. Also, a … Continued

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You just gotta love it?

After my last blog on the legal system I was sent a pearler of a story; “Melbourne Mum loses bankruptcy battle over school fees”, (Ninenews.com.au). The cost of solving a problem with lawyers has always been an issue for me, the process takes longer, and is more costly than you ever expect, and even then … Continued

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AFSA Enforcements

Bankruptcy Trustees are required to report any evidence of an alleged offence committed by a Bankrupt against the Bankruptcy Act. Trustees need to ensure that potential offences are referred as soon as possible in order to ensure that prosecution is possible. Offences proven to be committed can lead to fines or even imprisonment. Offences can … Continued

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Bankruptcy world rankings

As reported in the AFSA “Personal Insolvency Regulator”, Australia has been ranked 18th in the world at resolving insolvencies. Interestingly in determining who was better than others the main parameter considered was the rate of dividends being paid. Clearly the one true focal point of a Creditor in any insolvency; “How much am I getting … Continued

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