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The latest issue of the Insolvency Law Journal (Volume 32 Part 1) contains the following material:
EDITORIAL – Editor: Dr David Morrison
Articles
The Adjudication of Proofs of Debt in Liquidation: A Background – Nikita Angelakis
According to the High Court, when adjudicating proofs of debt, a liquidator acts quasijudicially “according to the standards no less than the standards of a court or judge”. That is an onerous standard for a liquidator, who is not legally trained and invariably carries out their function in an environment hampered with severe financial constraints. This article is the first part in a series of three that seeks to unpack and challenge the “quasi-judicial” characterisation given to a liquidator’s function in adjudicating proofs. This first part sets out background to judicial and administrative powers and reviews jurisprudence concerning the proof of debt procedure that applies in corporate insolvency. The following parts will consider the effect of an adjudication, the impact of history on the characterisation of a liquidator’s power, and the limitations on the power and obligations of liquidators.
Safe Harbour and Beyond: Shaping Australia’s Corporate Rescue Landscape – Chelsea Austin
The safe harbour provisions were introduced to the Corporations Act 2001 (Cth) in September 2017. An independent review of the impacts of the safe harbour provisions on the conduct of directors and the interests of creditors and employees was initiated on 24 August 2021, with a final report presented to the Assistant Treasurer on 23 November 2021 that prescribed 14 recommendations. This article explores the extent that these recommendations, as well as the recommendations directed towards the safe harbour in the Parliamentary Joint Committee on Corporations and Financial Services’ final report for the inquiry into corporate insolvency, are likely to succeed in fulfilling the safe harbour’s overarching purpose. It is suggested that while the implementation of these recommendations will positively impact Australia’s corporate rescue landscape, further reforms, as set out herein, might be considered.
RECENT DEVELOPMENTS – Editor: Dr David Morrison
- Boats, PPSA Interests, and Liquidator Liability – Dr David Morrison
INTERNATIONAL NOTES – Editor: Dr David Morrison
- The Path to Adoption of the New UNCITRAL Model Laws in the United Kingdom – Dr Eugenio Vaccari
NEW ZEALAND REPORT – Editor: Professor Lynne Taylor
- Liquidators’ Appointment and Powers – Lynne Taylor
BOOK REVIEW – Editor: Dr David Morrison
- Bootmakers, Boards and Rogues: Issues in Australian Corporate and Securities Law, edited by Tony Damian and Amelia Morgan – Reviewed by Dr David Morrison
- Annotated Bankruptcy Act (9th ed), Annotated by Paul Nichols and Michael Murray – Reviewed by Dr David Morrison
For the PDF version of the table of contents, click here: New Westlaw Australia – Insolv LJ Vol 32 No 1 Contents or here: Checkpoint – Insolv LJ Vol 32 No 1 Contents.
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