Insolvency law reform: are you ready?
Halfday seminar 26 May, 2017
Professor Michael Quinlan, Dean, Sydney School of Law, University of Notre Dame Australia (Chair); Doran Cook SC, 9 Wentworth Chambers; James Marshall, Partner, Ashurst Australia; Phil Carter, Partner PPB Advisory
The Gallery Room, Mitchell Wing, NSW State Library
08:30AM to 12:30PM
This practical half-day CLA seminar makes clear the things you need to know as a result of the
Insolvency Reform Act 2016.
Three CLE points.
Background to reform
• Current Australian position
• Government Proposals Paper (April 2016)
• Productivity Commission Report (Sept 2016 released Dec 2016)
• ARITA paper
• Exposure Draft Legislation (if released)
• US, UK and Canada
Likely reform formulation/areas of contention
• Ipso facto
• Court application?
• Safe harbour
• Reformulating insolvent trading or defences to insolvent trading
• Advisor defence v tailored restructuring defence
Practical application of ipso facto reforms from an insolvency practitioner's perspective
• How useful will the stay on termination of key contract for insolvency be?
• Will restructurings be more successful following the reforms?
• How will the administrator's liability for trading risk/adoption of contracts be managed?
Practical application and impact of safe harbour reforms from an insolvency practitioner's
• How will the safe harbour reforms affect the behaviour of directors and their advisers in the twilight zone?
• Will more companies be saved or restructured as a result of the reforms?
• Likely attitude of secured creditors to reforms
8.30am Registration opens
9.00am Professor Michael Quinlan
9.05am Doran Cook SC
10.00am Joint presentation: James Marshall and Phil Carter
11.00am Morning tea
11.25am Joint presentation continues
12.15pm Chair’s commentary and questions