ADVERTORIAL
The individual most likely to determine how Australia’s insolvency regime operates in the years to come will be the headline guest at the 2023 annual conference of the Association of Independent Insolvency Practitioners (AIIP).
Senator Deborah O’Neill, chair of the Parliamentary Joint Committee on Corporations and Financial Services inquiry into corporate insolvency in Australia, will appear at Canberra’s Hyatt Hotel on the morning of Friday, July 14.
There conference delegates will hear first hand how the inquiry committee approached its task and how it came to its conclusions, which are expected to be have been made public by the end of May.
At this stage it is expected that Senator O’Neill will participate in a question and answer with financial commentator Peter Switzer.
If the Senator has time she may also take part in a panel discussion with Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Bruce Billson, Professor of Corporate Law at University of Sydney Jason Harris, Maria O’Brien, Turnaround Management Association chair and Australian Head of Restructuring & Insolvency at Baker McKenzie and registered liquidator and trustee in bankruptcy Anthony Warner of CRS Insolvency Services.
The AIIP has called for a comprehensive review of Australia’s insolvency laws and with Senator O’Neil in attendance, delegates will be granted an exclusive portal into the committee’s thinking as it contemplated the most in-depth analysis of the corporate insolvency regime since the Australian Law Reform Commission General Insolvency Inquiry Report No 45 (1988), frequently referred to as the Harmer Report.
By the closing date of November 30, 2022 the inquiry had received almost 80 submissions, reflecting the exceptional breadth of its terms of reference, encapsulated in seven categories.
These include recent and emerging trends in corporate insolvency; the existing laws and their operation; potential areas for reform including unfair preference claims, trusts with corporate trustees and insolvent trading safe harbours; mechanisms for supporting business in accessing corporate turnaround capabilities; the role of insolvency practitioners; and the role of government agencies in the corporate insolvency system, including that of ASIC, the ATO and other relevant bodies.
AIIP conference chairman John Morgan said the “conference committee is delighted that the Senator accepted our invitation her input will be highlight of this year’s conference”.
Conference Committee Member David Levi, who has been liaising with the Senator’s office, said: “Senator O’Neill has quickly become a subject matter expert. It is really appreciated that Senator O’Neill has spent so much of her personal time reading the inquiry’s many submissions.
“The AIIP is delighted that Senator O’Neill has accepted our invitation to be Keynote Speaker at the AIIP’s fourth national conference.”
For conference inquiries see: AIIP 2023: Revolution or Evolution
I’m looking forward to the Senator testing her nerve in the bearpit of an AIIP Conference.
In my experience, the AIIP members are typically polite but it’s not a place for BS.
This profession has, for too long, being the punching bag for ill informed commentary from the sidelines and, by extension, politicians and others with an unhelpful agenda.
The almost criminally-stupid funding model is testament to how the authorities can unceremoniously screw up an easily solved problem. It’s worse than the disease!
Many talking heads on the telly would have the punters believe that liquidators are rascals. Not so!
So, I live in hope that the Committee will have done its job properly and the good Senator can sell the proposed next steps. The result would improve life for us all.
Noblest of ideals, huh?
See you there, I hope.
The Spanish One
iT WILL BE INTERESTING TO SEE HOW THE REPORTS REFERS TO AND RELIES UPON THE VERY DETAILED REPORT OF THE SENATE REFERNCE COMMITTEE OF 2010 WHICH HAD 95 SUBMISSIONS DAYS OF HEARINGS FROM INDIVIDUALS AND COMPANIES AND NOT FOR PROFIT ORGANISATIONS AND MADE RECOOMENDATIONS FOR A SUBSTANTIVE OVERHAULS OF INSOLVENCY BY THE SETTING UP OF A NEW BODY TO REPLACE INCOMPETENT AFSA AND ASIC,IGNORED BY ALL GOVERNMENTS SINXCE ,Y CONCERN IS THE REPORT WILLTRY TO PATCH UP A FAILED REGIME WHERE THE RPORTING OF THE SYETEM BY INSOLVENCY PRACTITIONERS CONTINUES .I HAVE MADE A COIMPLAINT TO THE NEW CORRUPUPTION BODY IF ANYONE IS INTERESTED I WILL SEND A COPY [email protected]