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The latest issue of the Insolvency Law Journal (Volume 25 Part 3) contains the following material:
Bankruptcy Discharge: Origins and Liberalisation – Michael Quilter
The development of bankruptcy discharge reflects varying philosophies and influences. Initially in English bankruptcy law discharge was absent, and even when introduced in the early 18th century, it was restricted and difficult to attain as the result of the creditors’ power of veto. Modern discharge policy is more liberal, has a broader stakeholder focus, and an emphasis on shorter bankruptcy periods calculated to combat risk averse behaviour and encourage entrepreneurs to re-enter the market. Liberalising discharge is not a static idea as its application in different jurisdictions, and over time, attest. This article compares current discharge regimes in Australia, Malaysia and Singapore to illustrate how discharge is responsive to political, economic, social, and even cultural factors, and it is precisely this characteristic that makes it an essential element of bankruptcy process in changing commercial environments.
Death and Bankruptcy – Colin Anderson and David Morrison
There is a disconnect between the operation of the Australian Bankruptcy Act 1966 (Cth) and the various State and Territory Succession Acts. The lack of harmonisation between the operation of the national bankruptcy provisions and the State-based provisions provides a perverse incentive by allowing a choice as to the legislative regime that governs the deceased estate. This article examines this in respect of the Succession Act 1981 (Qld) as a proxy for the State-based jurisdictions and demonstrates the unintended flaws arising in the circumstances of a bankrupt deceased estate.
RECENT DEVELOPMENTS – Dr David Morrison
- Piercing Legal Professional Privilege to Access Documents Created to Defeat Claims of Creditors – Noel McCoy, Sophie Waples and Emma Beechey
- Company Directors in the Spotlight: A Safe Harbour or Plugging Another Imaginary Leak? – David Morrison
REPORT FROM NEW ZEALAND – Lynne Taylor
- Changes Mooted to New Zealand’s Voidable Transactions Regime – Lynne Taylor
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