Insolvent trading - an international comparison

Dabner, Justin (1994) Insolvent trading - an international comparison. Corporate and Business Law Journal, 7 (1). pp. 49-106.

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[Extract] With the advent of the worldwide recession and the consequential insolvent collapse of countless companies the insolvent trading provisions featured in the company law of most jurisdictions took on a particular significance. The Australian provisions were found wanting and during 1993 were replaced. This echoed a similar scenario which had occurred in the United Kingdom some years earlier. Now the New Zealand legislature is also in the process of reassessing their provisions, whilst in South Africa a provision originating from the 1962 recommendations of the United Kingdom Jenkins Committee remains in force. All these jurisdictions have also sought to address, in various ways, the new issues presented by groups of companies. This article compares the approaches of these jurisdictions to that recently adopted in Australia with a view to identifying any residual reform issues. It is concluded that, whilst the Australian provision has much to recommend it, concern exists as to the absence of any cause of action in individual creditors and the failure of the legislature to adequately address the disparate of corporate enterprise.

Item ID: 33642
Item Type: Article (Research - C1)
ISSN: 1033-2405
Date Deposited: 06 Feb 2017 23:35
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180109 Corporations and Associations Law @ 100%
SEO Codes: 97 EXPANDING KNOWLEDGE > 970118 Expanding Knowledge in Law and Legal Studies @ 100%
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