Regulation of insolvency and insolvency practitioners in the Asia-Pacific Region: Australia

This research forms part of an international research project on insolvencypractitioner regulation. This presentation relates to Australia. Insolvencylaw has been the subject of recent political championingand review following the action of some ‘bad apples’ in the insolvencyprofession, culminating in the passing of the Insolvency Law ReformAct. There have also been a number of recent enquiries, such as the Senate Economic Reference Committee, Productivity Commission investigating matters aimed at increasing productivity and growing the Australian economy. The current Australian government has a National Innovation and Science Agenda, which incorporates the improvement of bankruptcy and insolvencylaws and heralds further changes in the management of insolvencyand restructuring or rehabilitation of bankrupts and insolvents.