COMMENT Presenting oneself as a fierce and tireless scrutiniser of insolvency practitioners is all the rage among the relevant regulators at the moment. The view among much of the bureaucracy seems to be that these highly qualified professionals cannot be trusted and only heavy regulatory shackles will prevent them from abusing their position to the detriment of all. It’s nonsense of course but regulation is…
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…
Veritas Advisory might find itself in need of a replacement trustee now that the first AFSA disciplinary committee convened under the new Insolvency Practice rules prepares to determine whether incumbent Louise Thomson should incur any penalty. According to the AFSA website, Thomson was referred under Part 2 of Schedule 2 to the Bankruptcy Act (the Act) after the Inspector-General formed the belief that: “Thomson has failed…
The year is done, Christmas is come and for SiN it is time to replenish the reservoir of curiosity ahead of what promises to be a fascinating 2018. From next year the Insolvency Law Reform Act (ILRA) will be in full swing. Insolvency practitioners will face a world where creditors will have expanded powers. Appointees will need to get used to being replaced. Courts too…
While Bartercard co-founder and millionaire Brian Hall has seemingly extracted himself from a stoush with Bendigo Adelaide Bank, that has only intensified the pressure on Vincent’s Nick Combis and his former colleague Peter Dinoris, who now runs his own outfit, Artemis Insolvency out of offices in Edward Street, Brisbane. The pair were the trustees of a $350,000 personal insolvency agreement (PIA) Hall had entered into in…