The Parliamentary Joint Committee on Corporations and Financial Services (PJC), chaired by Senator Deborah ONeill, has handed down its final report into the effectiveness of Australias corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy. The Committee has made some far-reaching recommendations in the Final Report,…
Late 2017 will be remembered as the period in which everyday investors adopted cryptocurrency as an alternative investment class and rode the highs of Bitcoin at USD$20,000. In contrast, 2018 will be remembered as the year that cryptocurrency plunged and insolvency practitioners globally had to start considering how the asset class could be dealt with.…
After a 10-month inquiry process, on 12 July 2023 the Parliamentary Joint Committee on Corporations and Financial Services (PJC) delivered its final report on the effectiveness of Australias corporate insolvency laws. In this alert, we distil some of the key findings from the almost 400-page report and consider what future law reforms might look like. …
This article attributes to the entire Australian Restructuring team. Overview There has been a growing appetite for corporate insolvency law reform in Australia in the last 18 months. In 2021, public consultations were completed on improvements to creditors schemes of arrangement and the treatment of insolvent trusts, and there was an independent review of the…