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Government warned against "piecemeal" approach for insolvency reforms

May 4, 2021
Australian Treasurer Josh Frydenberg arrives to speak to the media during a press conference at Parliament House in Canberra. Source: AAP/Lukas Coch.
Insolvency practitioners have welcomed a federal government commitment to consult on further reforms for the industry, but say more “piecemeal” changes to Australia’s insolvency regimes could create even more complexity for business owners.
Ahead of next week’s federal budget, Treasurer Josh Frydenberg has announced the government will look to introduce a number of reforms that build on the insolvency changes that came into effect in January.
On Monday, Frydenberg revealed plans for a number of reviews aimed at “further simplifying and streamlining” insolvency laws to support viable businesses to restructure as the economy recovers from the effects of the pandemic. ....

Australian Capital Territory , John Winter , Josh Frydenberg , Lukas Coch , Turnaround Association , Parliament House , Australian Treasurer Josh Frydenberg , Treasurer Josh Frydenberg , Australian Restructuring Insolvency , ஆஸ்திரேலிய மூலதனம் பிரதேசம் , ஜான் குளிர்காலம் , லுகாஸ் கோச் , திருப்புமுனை சங்கம் , பாராளுமன்றம் வீடு , ஆஸ்திரேலிய மறுசீரமைப்பு நொடித்துப்போனது ,

Extension of insolvency protections - Impact on company directors - Insolvency/Bankruptcy/Re-structuring

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On 24 September 2020 we published an article about the: Extension of Insolvency Protections and
the impact the Commonwealth Government s temporary insolvency and bankruptcy
protections extension to 31 December 2020 has on business
and the corporate bodies in Australia.
On 29 September 2020 the Australian Restructuring Insolvency
& Turnaround Association issued a Practice Note about the
impact of the temporary insolvency relief for directors provided by
the Commonwealth Government.
However, an important feature of that reform (or
band aid ) is that there is no retrospective relief for
a director s liability for insolvent trading if the relevant ....

Commonwealth Parliament , Turnaround Association , Commonwealth Government , Australian Restructuring Insolvency , Practice Note , Registered Liquidators , Income Tax Assessment , காமன்வெல்த் பாராளுமன்றம் , திருப்புமுனை சங்கம் , காமன்வெல்த் அரசு , ஆஸ்திரேலிய மறுசீரமைப்பு நொடித்துப்போனது , ப்ர்யாக்டீஸ் குறிப்பு , பதிவுசெய்யப்பட்டது லிக்விடேட்டர்கள் , வருமானம் வரி மதிப்பீடு ,

ASIC reveals a pretty modest and bland gifts and benefits register

Print
From complimentary membership of the Qantas chairman’s club to a cashmere Mongolian wrap, Australian Securities and Investments Commission’s (ASIC’s) gifts and benefit register reflects a regulator whose personnel get handed lots of complimentary conference and seminar passes but not much else.
ASIC had provided its fits and benefit register as a result of a question on notice from the Parliamentary Joint Committee on Corporations and Financial Services but if financial advisers and others believed the register would reveal large amounts of compromising corporate largesse then they were badly disappointed.
But what did attract at least some interest was the number of times ASIC personnel attended Australian Restructuring Insolvency & Turnaround Association (ARITA) events and whether Commissioner John Price’s complimentary membership of the Qantas chairman’s lounge was really only worth $500. ....

Saudi Arabia , Saudi Arabian , John Price , Australian Restructuring Insolvency Turnaround Association , Investments Commission , Financial Services , Saudi Arabian Monetary Authority , Parliamentary Joint Committee On Corporations , Australian Securities , Parliamentary Joint Committee , Australian Restructuring Insolvency , Turnaround Association , Commissioner John Price , Human Manager Experience Training , Saudi Arabian Monetary , சவுதி அரேபியா , சவுதி அரேபியன் , ஜான் ப்ரைஸ் , ஆஸ்திரேலிய மறுசீரமைப்பு நொடித்துப்போனது திருப்புமுனை சங்கம் , முதலீடுகள் தரகு , நிதி சேவைகள் , சவுதி அரேபியன் பண அதிகாரம் , பாராளுமன்றம் கூட்டு குழு ஆன் நிறுவனங்கள் , ஆஸ்திரேலிய பத்திரங்கள் , பாராளுமன்றம் கூட்டு குழு , ஆஸ்திரேலிய மறுசீரமைப்பு நொடித்துப்போனது ,