Law reform training now available as 'learning on demand'

ARITA's Small Business Restructuring and Simplified Liquidation training is now available as 'learning on demand' for 2021 members and subscribers.

We’ve released two separate training sessions:

  1. Small Business Restructuring with Kim Arnold, Policy and Education Director, ARITA. Approximately 2 hours in duration
  2. Simplified Liquidations and Ancillary Reforms with Narelle Ferrier, Technical and Standards Director, ARITA. Approximately, 40 minutes in duration

As part of the training, access is available some new and very comprehensive process flow charts which we think will redefine the way insolvency professionals approach their work. They will also clearly demonstrate that while these processes have been touted as 'simple', they are far from it.

Training on the new regimes is free but is only available to members and subscribers who have renewed for 2021 and can be accessed on demand via our Learning Management System (LMS). If you are not a current member or subscriber you will receive an error message if you try to access the training.

PLEASE NOTE: If you have recently renewed your ARITA membership or subscription, it takes 24 hours after renewal for the LMS to update and allow you access to the training.

The completion of the training is non-verifiable CPE, but the LMS will track and automatically record that its been undertaken.

Members might be aware that ARITA held significant concerns over the '20 day' issue in Simplified Liquidations. While the legislation is very poorly constructed, we now have a clarification that there is a workable approach that resolves our concerns.

We’d like to acknowledge the original input of Stephen Mullette of Matthews Folbigg in outlining this approach to us. Arising from Stephen’s thinking we sought the input of your elected Division Committee members and engaged with ASIC to work through the operation of these sections. At the urging of your Division Committee representatives, we then obtained the formal advice of one of Australia’s top insolvency barristers, Stewart Maiden QC of Owen Dixon Chambers West.

Stewart’s comprehensive and clear advice now forms the basis of ARITA's training on this issue. We sincerely thank Stewart for recognising the urgency and importance of the advice he gave us and breaking his holidays to draft it. 

ARITA is also pleased to announce that a full suite of precedents and checklists for the two new regimes are already available to precedent subscribers with nearly 100 new or updated documents created.

We would note that a compilation of the new Act, Corporations Regulations and Insolvency Practice Rules is still not available, demonstrating just how ill-prepared the Government was in introducing these reforms. ARITA has been moving at pace with our handbook publishers, Thomson Reuters, and we will have an eBook version of the 2021 Handbook, featuring the full consolidation of all of the new legislation and instruments available in about two weeks. Printing and distribution of the hard copy will follow in the weeks after.

After completing the training, if you have any technical queries please submit them via Ask ARITA (Professional Members only).