AFSA: Personal Insolvency Stats (2016–17....

Nov 3, 2017

On 26 September 2017 the Australian Financial Security Authority (AFSA) released its annual statistics about the causes of personal insolvency in Australia. The statistics show that most personal insolvencies are not business related. In fact in  2016–17, 82% of...

Banks not ‘a-loan’: APRA to....

Nov 2, 2017

July 2017 saw the Treasury Laws Amendment (Non-ADI Lender Rules) Bill 2017 (Draft Bill) being released for public consultation with submissions closing on 14 August 2017. The Draft Bill aims to provide the Australian Prudential and Regulatory Authority (APRA) with...

Bankruptcy and overseas debtors

Oct 20, 2017

You might think that a debtor moving overseas or relocating prevents you from serving the debtor with a bankruptcy notice. Not so. Pursuant to section 40(g) of the Bankruptcy Act 1966, with leave of the Court, an act of bankruptcy still occurs when a debtor fails to...

Insolvency update: setting aside a deed....

Oct 16, 2017

In the decision of Britax Childcare Pty Ltd, in the matter of Infa Products Pty Ltd v Infa Products (Administrators Appointed)  [2016] FCA 848, Burley J gave a useful analysis of factors the Court considers in an application to set aside a Deed of Company Arrangement....

Good Business Practice Guides

Oct 12, 2017

The Australian Competition and Consumer Commission (ACCC) together with Australian Securities and Exchange Commission and various state and territory consumer protection agencies have released a number of guidelines relevant to small businesses including: Unfair...