AFSA December 2014 Quarter Statistics

The Australian Financial Security Authority (“AFSA”) recently released the Regional Personal Insolvency Statistics for the quarter ending December 2014 (“the quarter”). The statistics identifies the regions in each state with the highest number of debtors for the quarter. The quarter has seen NSW as the state with highest number personal insolvency activities totalling a number … 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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Vexatious Litigation process

Vexatious Litigants are those in the community who use the civil court system to pursue petty issues and intimidate others, often out of nothing more than vindictiveness, at great expense to society and at little advantage to themselves beyond a feeling of “pay back” at someone. The Vexatious Proceedings Act 2008 (“the Act”) significantly extends … Continued

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Bankruptcy statistics

Based on the statistical figures provided by the Australian Financial Security Authority (“AFSA”) the most common path for insolvent individuals is to file for Bankruptcy. However, the undertaking of a Debt Agreement has increased significantly over the last few years and more individuals have put forward proposals of Debt Agreements. In 2013, a total of … Continued

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Mate, it’s automatic!!

One thing that can be relied upon in the business advisory field these days is that you will always be told that “you should be working ON your business not IN your business.” In this day and age this is certainly sage advice, as being buried in the weeds not being able to see the … Continued

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Modelling the basics

During our school years we learn some fundamental basics that are driven in as irrefutable facts or realities that never change. Examples of some of these are – what goes up must come down, the impact of gravity, the inability to recover time, etc. These are unchangeable elements of life that will remain as is … Continued

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Court of Appeal backs Liquidator looking behind regulations

In the ongoing battle of the Environment Protection Authority (“EPA”) v Orchard Holdings (NSW) Pty Limited (In Liquidation), the Supreme Court of New South Wales Court of Appeal (“Court of Appeal”) in essence determined that Legislative Regulations cannot go beyond what the power that are conveyed in their relevant Act permits. Initially, the EPA sought … Continued

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