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Recent studies that have measured the levels of shareholder protection in Australia and compared them internationally have highlighted the relative strength of Australian shareholder protection. However, the question as to why this is so remains unanswered. Theories suggest that the development...
Persistent link: https://www.econbiz.de/10012998720
-represented debtors in the Bankruptcy List of the Federal Circuit Court of Australia in 2014 and 2015. This pilot service offered on … financial counselling in the context of contested creditors' petitions, and in the bankruptcy system more generally. It also … discusses the role of emotion in bankruptcy proceedings and identifies scope for further, interdisciplinary work in this area …
Persistent link: https://www.econbiz.de/10012998890
Bankruptcy has always been a source of significant stigma. The first Elizabethan statutes regarded bankruptcy as a … recognised that bankruptcy serves important economic objectives, by encouraging entrepreneurial risk-taking and offering …. The early laws of the Australian colonies took a similarly pragmatic approach, and the current federal Bankruptcy Act 1966 …
Persistent link: https://www.econbiz.de/10013002755
Bankruptcy is widely regarded as a means of rehabilitation for debtors in severe financial hardship. To date, however … demonstrate that, for many Australian debtors, bankruptcy results in genuine improvements to financial stability, health …, relationships and general well-being. At the same time, they suggest that the outcomes of bankruptcy can vary significantly …
Persistent link: https://www.econbiz.de/10012955926
This study is the first empirically based analysis of business bankruptcy to be conducted in Australia. It aims to … identify key differences between debtors who declare business bankruptcy and those who declare non-business or “personal …” bankruptcy, and to explore the extent to which there might be a “hidden” population of business debtors among those formally …
Persistent link: https://www.econbiz.de/10012906914
While the majority of those who declare bankruptcy do so voluntarily, a significant proportion are forced into … bankruptcy as a result of legal action. This paper interrogates data obtained from the Australian Financial Security Authority to … venture or a managerial or professional occupation – meaning that they are more likely to resist bankruptcy until they are …
Persistent link: https://www.econbiz.de/10012890999
It is well established in a number of Commonwealth jurisdictions that company directors are subject to a duty to consider the interests of creditors as the company nears insolvency. The precise contours of this duty are, however, indeterminate. Particular questions surround when the duty arises...
Persistent link: https://www.econbiz.de/10013243083
law. Debt agreements were introduced into Australian personal insolvency law in 1996 as an alternative to bankruptcy. This … alternative to bankruptcy …
Persistent link: https://www.econbiz.de/10013119696
This article presents the results of the first empirical study focused on older Australians in bankruptcy. Our study … — based on the examination of a large and unique dataset obtained by the authors from the bankruptcy regulator — provides a … most significant causes of bankruptcy for older Australians as well as some possible explanations for their financial …
Persistent link: https://www.econbiz.de/10012897411
Directors of Australian companies are subject to a duty to prevent their company trading whilst it is insolvent. The duty is controversial. Over a period of at least ten years, a series of reforms have been proposed, leading up to the introduction, in 2017, of a safe harbour for directors where...
Persistent link: https://www.econbiz.de/10014361914