28 June 2004
Welcome to the June edition of Banking and Financial Services Insights. In this edition we'll look at key findings of an empirical study into insolvent trading and how directors lose out in cases that go all the way.
Also we take a look at the recommendations from the Potts Report and what they mean for Direct Offshore Foreign Insurers.
Finally, we examine the new anti-money laundering measures and how this may reduce the perils associated with cross-border banking.
By Paul James, Ian Ramsay and Polat Siva.
Paul James, Professor Ian Ramsay and Polat Siva discuss some of the key findings of an empirical study into insolvent trading. While there have not been many insolvent trading actions that have gone all the way in Australia, directors lose in three out of four cases that do.
By Karen O'Flynn.
Karen O'Flynn looks at new tactics employed by the Tax Office against phoenix companies with dubious commercial histories which may be wound up even though they're trading profitably.
By Fred Hawke and Ray Giblett.
Fred Hawke and Ray Giblett give an insight on the Potts Report (arising out of the HIH Royal Commission) and the recommendation that Direct Offshore Foreign Insurers marketing insurance in Australia should remain exempt from prudential regulation in Australia if they are domiciled in a country with comparable regulation.
By Andrew Hay.
Andrew Hay explains how the implementation of international accounting standards by Australian companies could impact on local lending practices.
By Randal Dennings and Graeme Howatson.
Randal Dennings and Graeme Howatson explain how new anti-money laundering measures to be adopted by Australia may provide greater protection for Australian banks when dealing with overseas banks.
By Owen Hayford and Doug Jones.
A number of Australian Government Public Private Partnership policies focus on privately financed PPPs, but as Owen Hayford and Doug Jones explain, all possible PPP delivery models should be considered.
The Insurance and Reinsurance Review 2003 - this online brochure looks back at some of the insurance and reinsurance issues of the past very turbulent 12 months.
Fred Hawke is a Partner in our Melbourne office and has extensive legal and practical experience in insurance law, claims management and insurance company operations.
Ray Giblett is a Senior Associate and practices in the areas of financial services, insurance and commercial litigation with a particular focus on product liability.
