Episode 3: Priorities in Insolvency

Liquidation

In this episode, Dr Tribe, Dr Goldman and myself are joined by Dr Christopher Symes, who is Professor of Law at Adelaide Law School. Christopher discusses his thesis work on the history of statutory priorities in insolvency, which he subsequently published as a book ‘Statutory Priorities in Corporate Insolvency Law‘. We discuss the development of statutory priorities in Australian and UK insolvency law, focusing particularly on employee entitlements and the priority of tax authorities. We also consider what new priorities might be included in the future.

Themes discussed in this episode

  • Introducing Christopher Symes’ PhD work: 1:59min
  • The history of priorities in insolvency: 8:51min
  • The priority of employees: 17:31min
  • The Fair Entitlements Guarantee regime: 26:26min
  • Employees and contractors: 29:08min
  • The protection of employee entitlements in the UK: 35:35min
  • The FEG Active Creditor program: 36:34min
  • Tax priority: 44.59min
  • Priorities in the UK: 1hr 3:44min
  • Quasi-security and priorities: 1hr 5:44min
  • Reconsidering priorities in insolvency: 1hr 11:19min
  • Metaphors for insolvency: 1hr 14:37min

 

References discussed in the episode

The FEG Active Creditor program

Football creditor rule in the UK

 

 

 

 

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The role of government in insolvency (ep 2)

Bankruptcy, Bankruptcy trustee, Official Receiver,

In this episode, we discuss the role of government in insolvency in Australia and in the UK. Dr Tribe summarises the role of the Official Receiver and the Insolvency Service in the UK. Dr Goldman and Professor Harris discuss problems and issues caused by the lack of a government liquidator for insolvent companies in Australia.

Themes discussed in this episode

  • The role of the Official Receiver in the UK: 3.02min
  • Officialism in the UK: 5.04min
  • The OR and new technology: 9.09min
  • The balance of public and private roles: 9.53min
  • UK law reforms: 16.59min
  • Directors disqualification: 19.09min
  • Crown priorities: 20.26min
  • The role of government in insolvency in Australia: 22.33min
  • Public interest: 24.30min
  • Why is there no OR for corporate insolvency in Australia? 32.19min
  • Problems caused by a lack of OR in Australian corporate insolvency: 39.43min
  • How to improve the role of government in insolvency in Australia? 55.26min

References discussed in the episode

Markham Lester, Victorian Insolvency, 1995, OUP

Ian PH Duffy, Bankruptcy and Insolvency in London During the Industrial Revolution, 1985, Routledge

UK Insolvency Service

ASIC Insolvent Trading Program, 2010 REP 213

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