Some of the profession’s most pressing questions will be explored and potential solutions debated at the inaugural Association of Independent Insolvency Practitioners (AIIP) Conference to be held next month in Canberra.
Questions around safe harbour; pre-packs; litigation funding, law reform and what the future might have in store will all be canvassed at the Disruption in the Insolvency Industry Conference on June 28 and 29 at Canberra’s Hyatt Hotel.
AIIP President Stephen Hathway said the conference would focus on issues of express interest to the AIIP membership.
A key theme would be access of litigation funding, which Hathway said had to be improved if scourges like illegal phoenix activity were to reined in.
“If we want to tie up pheonixing then we have to be trusted to have a bit more to have a crack,” Hathway said.
“There seems to be an inefficiency in the market that too often prevents the liquidator and the funder from connecting,” Hathway said.
“Why aren’t we looking at partnerships? Government funding with private funding. It’s better to have a crack than not, isn’t it,” Hathway said.
To that end consultant Stephen Humphreys, will be discussing issues around access to litigation funding in the context of his work with the FEG Recovery Unit.
Lively debate is also sure to be spurred by a presentation on the pros and cons of pre-packs from University of Sydney general counsel and Adjunct Professor of Law Richard Fisher.
Joining him on the panel will be liquidator Nick Crouch, director of FEG Recoveries Henry Carr and ATO assistant commissioner Aislinn Walwyn.
A panel discussion on the Future for Insolvency will look at issues ranging from the practical – whether over-regulation is stifling recoveries and returns to creditors; whether the mooted 12 month bankruptcy period spells the death knell Part IX and Part X arrangements – to the philosophical in regard to whether insolvency practitioners want to be part of an industry or a profession. I wind up, therefore I am?
There will also be updates from ASIC, AFSA, the ATO and FEG.
To view the conference program and register to attend click here.