Part 5.3A: The Impact of Changes to the Australian Corporate Rescue Regime

Insolvency Law Journal, Vol. 15, p. 243, 2007

15 Pages Posted: 24 May 2011

See all articles by Colin J. Anderson

Colin J. Anderson

Queensland University of Technology - Faculty of Law

David S. Morrison

The University of Queensland - T.C. Beirne School of Law

Date Written: 2007

Abstract

It has been 15 years since Pt 5.3A of the Corporations Act 2001 (Cth) was introduced into the Australian corporate insolvency regime (pursuant to the Corporate Law Reform Act 1992 (Cth)). It is only now that the first “major” legislative changes relating to Pt 5.3A have been introduced. It is therefore appropriate to examine broadly the operation of the procedure thus far and to consider it in the context of future direction. This article broadly examines the way in which the voluntary administration and accompanying deed of company arrangement processes have evolved, and how this relates to the amendments within the Corporations Amendment (Insolvency) Act 2007 (Cth). This article therefore identifies the key design principles underlying

Pt 5.3A; examines the broad themes that have emerged in the legislation to date (encompassing a review of the original intention and the background to the implementation of the Part) before dealing with the subsequent amending legislation that followed the reviews of the existing Pt 5.3A provisions. Finally, the article draws some conclusions about the potential future direction of the Pt 5.3A procedure.

Keywords: Corporate Insolvency, Australia, Part 5.3A, Voluntary Administration

JEL Classification: K00, K39

Suggested Citation

Anderson, Colin J. and Morrison, David S., Part 5.3A: The Impact of Changes to the Australian Corporate Rescue Regime (2007). Insolvency Law Journal, Vol. 15, p. 243, 2007, Available at SSRN: https://ssrn.com/abstract=1802238

Colin J. Anderson

Queensland University of Technology - Faculty of Law ( email )

Level 4, C Block Gardens Point
2 George St
Brisbane, QLD 4000
Australia
+61 7 3138 1099 (Phone)
+61 7 3138 2121 (Fax)

David S. Morrison (Contact Author)

The University of Queensland - T.C. Beirne School of Law ( email )

The University of Queensland
St Lucia
4072 Brisbane, Queensland 4072
Australia

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
346
Abstract Views
1,726
rank
121,364
PlumX Metrics