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AI Overview

"Keay's Insolvency: Personal & Corporate Law and Practice" is a comprehensive legal textbook written by Michael Murray and Jason Harris. Here is a detailed overview of the book:

Key Themes

  1. Insolvency Law and Practice in Australia:

    • The book is a recognized text on personal and corporate insolvency law and practice in Australia, widely used by practitioners and regularly cited in court.

  2. Coverage of Insolvency Acts:

    • It explains Australian insolvency law under the Bankruptcy Act 1966 and the Corporations Act 2001, with a focus on the substantial case law and practice developments flowing from the changes made by the Insolvency Law Reform Act 2016 (ILRA).

  3. Reforms and Updates:

    • The book covers recent reforms such as safe harbour reforms under s 588GA of the Corporations Act, ‘ipso facto’ reforms of 2018, anti-phoenix reforms of 2019, and debt agreement reforms. It also includes the restrictions imposed on creditors and concessions made to debtors due to COVID-19.

  4. Case Law and Commentary:

    • The authors provide detailed explanations of the law supported by case law and commentary, along with their critical analysis of the effectiveness and efficiency of the insolvency regime and views on its need for reform.

  5. Insolvency Practice and Restructuring:

    • The book includes discussions on insolvency practice, such as the introduction of Part 5.3B small business restructuring and simplified liquidation, and the increased powers and activities of the Australian Taxation Office (ATO) and other agencies.

  6. Critical Analysis and Reform Recommendations:

    • The authors continue to advocate for major reform of insolvency law and practice, highlighting initial structural reforms necessary to address significant gaps and deficiencies in the insolvency process.

Plot Summary

The book does not have a narrative plot but rather serves as a comprehensive guide to insolvency law and practice in Australia. It provides detailed explanations of the legal framework, recent reforms, and practical applications of insolvency laws.

Critical Reception

"Keay's Insolvency" is widely regarded as an authoritative text in the field of insolvency law and practice in Australia. It is praised for its detailed explanations, supported by case law and commentary, which make it a valuable resource for both practitioners and students of insolvency law. The book's critical reception is positive, reflecting its utility and relevance in the legal community.

Editions and Publication

The 11th edition of "Keay's Insolvency" was published in July 2022 by Thomson Reuters. It is available in various formats, including paperback and digital versions.