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TAG: ASIC
ASIC Report 512 – Regulation of Corporate Finance
The Australian Securities and Investments Commission (‘ASIC’) hosted a Corporate Finance Liason meeting in Adelaide on 7 March 2017, along with similar meetings in Sydney, Melbourne, Brisbane and Perth, to discuss Report 512, encapsulating the last six months of regulation of public corporate finance activity in Australia.
The ASIC Registers and Privatisation: Should the Registers be run for profit?
In an article on Wednesday 14 September Anthony Klan, in the Australian, notes that businesses pay the government approximately $660m in filing fees to lodge material with the Australian Securities and Investments Commission (‘ASIC’) Registers, and the government charges $60m per year to the public for access to those records. The ASIC Annual Report for […]
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Insolvency Regulation proposals: casting a careful Eye
IN THIS COLUMN WE GIVE SPACE TO OUR GUEST BLOGGER WHO GOES BY THE AVATAR OF ‘THE EYE’. He also writes for the Insolvency Law Bulletin (LexisNexis). Here he reflects on the Christmas reading provided by the Government’s response to its consultation on Insolvency Practitioner Reform (Treasury,15 December 2011), and subjects a well-known journalist’s instant reaction to careful […]
An advertised post: ASIC Commissioner (Insolvency)
ASIC on 20th October announced that Michael Dwyer, was retiring as Commissioner after three busy years. Mr Dwyer’s experience in the insolvency industry has coincided with the GFC, and with the Senate Inquiry into Liquidators, Administrators. Like the ASIC Chair, we pay tribute to Mr Dwyer’s efforts (particularly as a former Adelaide practitioner) and […]
Can we Trust Creditors Trusts?
Some years ago it became fashionable to avoid statutory protections of the Deed of Company Arrangement provisions of Part 5.3A, by resolving to enter into a DOCA which would immediately terminate and be replaced with a trust, extinguishing creditors’ claims in the VA/DOCA procedure and replacing them with claims as beneficiaries to the like […]
AMI (Administrators Appointed) – just in case you didn’t know!
This company has been in voluntary administration since late last year. Prior to its going into administration, the ACCC launched proceedings against it regarding its disclosure in relation to its erectile dysfunction products. Those proceedings are ongoing. Last week the ACCC obtained an interim injunction ordering the administrators to disclose that the company is in […]
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Hide and seek or show and tell in prospectus disclosure?
Do we play ‘Hide and Seek’ or ‘Show and Tell’ with a director’s bankruptcy and insolvency history in prospectus disclosure law under the Corporations Act? It is an aim of insolvency law to provide mechanisms that assist in removing directors from the management of companies where they have been found to have been involved with […]
The Insolvent Insolvency Practitioner
It has recently been reported (see ASIC website) that Melbourne liquidator Paul Pattison has voluntarily resigned as a liquidator or administrator to over 80 companies as he is himself insolvent. He has given an undertaking that he will not accept further appointments until he can produce evidence that demonstrates that he has the practice and […]