RSM Australia

Insolvency reform


Accounting Standards
Anticipating challenges, identifying opportunities.

Insolvency Reform is a monthly publication that provides best practice articles, insights and discussion around insolvency, to help you keep pace with the current legal, economic and marketplace changes driving your industry.

If you have any questions in relation to these articles, please contact your local RSM adviser


Insolvency Reform Edition 20 | Is this enough?

31 October 2019
Insolvency inquiry focused on small business Despite the growing chorus of those calling for a root and branch review of insolvency law and practice the Government is funding a narrowly focused inquiry by the Australian Small Business and Family Enterprise Ombudsman (“ASBFEO”), Kate Carnell.

Insolvency Reform Edition 19 | Another Hole in the Corporate Veil

1 March 2019
A Bill with big consequences for company directors was introduced to the House of Representatives on 13 February 2019. It was quickly referred to the Senate Economics Legislation Committee (“the Committee”) on Valentine’s Day. The Committee is scheduled to report on the Bill on 26 March 2019.

Insolvency Reform Edition 18 | Open Season on the Phoenix

13 September 2018
The Government has proposed radical change to combat the estimated $5.13 billion annual cost to the economy of illegal phoenix activity. The draft legislation targets directors and enablers of this activity. An expansion of director penalty regime to include GST is  also proposed.

Insolvency Reform Edition 17 | The Sequel 10 Years in the Making: Protecting Employee Entitlements - July 2018

5 July 2018
This article discusses proposed reforms to strengthen the protection of employee entitlements and asks if the proposed reforms will make it through Parliament in their current form. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >>

Insolvency Reform Edition 16 | Is it time?

3 May 2018
This article discuesses whether it is time for Insolvency Practice Standards contained in the ARITA Code, to be given the force of law. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >>

Insolvency Reform Edition 15 | 1 year bankruptcies. Will we regret this?

13 March 2018
This article of Insolvency Reform discusses the Bankruptcy Amendment (Enterprise Incentives) Bill 2017.

Insolvency Reform Edition 14 | Independence: The sky is not falling

1 September 2017
This article of Insolvency Reform discusses the recent Network Ten decision and its implications on independence requirements for insolvency practitioners.  VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >>

Insolvency Reform Edition 13 | Is Independence Dead?

21 July 2017
This article of Insolvency Reform covers the recent court challenge around independent insolvency practitioners. View the past editions of insolvency reform >>

Insolvency Reform Edition 12 - June 2017 - Ahoy! A safe harbour?

16 June 2017
Ahoy! A safe harbour? View the past edition of the Insolvency Reform newsletter - Insolvency Reform Edition 11 - May 2017 HERE

Insolvency Reform Edition 11 - May 2017

5 May 2017
THE RISE OF THE PRE-PACK  View the past edition of the Insolvency Reform newsletter -[Insolvency Reform Edition 10 - April 2017] here

Insolvency Reform Edition 10 - April 2017

5 April 2017
A plethora of issues A great deal has occurred since our last Insolvency reform newsletter.

Insolvency reform edition 8 - December 2016

13 December 2016
Treasury’s User Pays Model          Treasury’s ideological crusade Despite intense lobbying by ARITA and insolvency professionals Treasury has refused to back down from the ideologically driven one size fits all approach to funding ASIC.

Insolvency reform edition 7 - May 2016

10 May 2016
The government’s proposals paper The government has released its proposals paper titled Improving bankruptcy and insolvency laws.

Insolvency reform edition 5 - March 2016

29 March 2016
A step too far? The government’s proposal to reduce the term of bankruptcy from three years to one year has been the subject of recent debate. This proposal forms part of the government’s National Innovation & Science Agenda.

Insolvency reform edition 3 - January 2016

18 January 2016
The ugly duckling and the swan

Insolvency reform edition 1 - November 2015

25 November 2015
Chapter 11 for Australia? Innovation Minister Christopher Pyne has declared changes to insolvency laws will be part of the innovation statement expected to be released by the government next month. It is claimed business groups have lobbied the government to move Australian insolvency laws more toward the US model.