In a speech to be delivered at the Australian Financial Security Authority (AFSA) Summit on Tuesday (18 November) and seen by Accounting Times, Andrew Leigh underscored the importance of a robust and trustworthy insolvency system for boosting productivity, the Accounting Times reported. A robust insolvency system that handled bankruptcies smoothly and ensured creditors got a fair deal would incentivise more Australians to take business risks, which in turn could help resuscitate the country’s poor productivity, Leigh said. “Every successful market economy rests on trust.

Tasmania's auditor-general has confirmed he referred Spirit of Tasmania operator TT-Line to the corporate regulator after suspecting its directors were in breach of the Corporations Act, ABC.net reported. Auditor-General Martin Thompson said he made the referral to the Australian Securities and Investments Commission (ASIC) on July 31, having formed the view earlier in the month that TT-Line was insolvent. He appeared at a budget estimates hearing on Monday, where he confirmed he informed TT-Line of his conclusion on insolvency on July 22, but the company continued to trade.

Commonwealth Bank of Australia, the country's largest lender, believes demand for home loans is too high and is helping to push property prices up, Chief Executive Matt Comyn said on Tuesday, Reuters reported. While admitting the bank benefitted from the surge in housing credit growth, Comyn said a lower level would be better for "long-term financial stability, equality and access to the housing market." "Our view would be that a more sustainable credit growth rate in housing would be slightly below the current level," he told lawmakers at a committee hearing in Parliament.

Japan’s economy contracted at a 1.8% annual pace in July-September as President Donald Trump’s tariffs hit exports and private residential investment plunged, the Associated Press reported. Data released by the government Monday showed that on a quarter-by-quarter basis, Japan’s gross domestic product, the sum value of its goods and services, slipped 0.4%, the first contraction in six quarters. The annualized rate shows what the economy would have done if the same rate were to continue for a year.

Japan's Financial Services Agency (FSA) ​is considering regulations that would define ‌cryptocurrency as financial products subject to insider trading rules and ‌reduce the tax rate on profits, the Asahi newspaper reported on Sunday, according to Reuters. The regulations will apply to 105 types of cryptocurrencies available in Japan ⁠such as bitcoin ‌and ethereum, and would require exchange service providers to disclose information ‍such as the risk of price fluctuations, the paper said.

Datuk Seri Najib Razak has failed in his bid to stay a bankruptcy notice after the High Court upheld the Inland Revenue Board's (IRB) action against the former prime minister for an unpaid additional assessment of close to RM1.7 billion, TheEdgeMalaysia.com reported. Similarly, his son Datuk Nazifuddin Najib has also failed to obtain a stay over a bankruptcy notice issued against him for not paying RM37 million. With this, the IRB can continue with initiating bankruptcy proceedings against the duo.

New Zealand late on Sunday welcomed the United States' announcement that it ​would remove additional tariffs on a range of New Zealand ‌agricultural products, including beef, offal and kiwi fruit, but said it ‌would like to see all the additional U.S. tariffs on New Zealand goods removed, Reuters reported. President Donald Trump on Friday removed tariffs he had imposed on more than 200 food products, including beef, ⁠amid consumer concerns about ‌rising U.S. grocery prices. The products represent around 25% of New Zealand's ‍exports to the U.S.

The South Korean Financial Supervisory Service and creditor banks are working to select corporations that will undergo restructuring next year, Chosun Biz reported. With a slump in domestic demand and the trio of high inflation, high interest rates and a strong dollar, the number of corporations at risk of insolvency is expected to increase from a year earlier. According to the financial sector on the 14th, major creditor banks are conducting regular credit risk assessments of small and midsize corporations with credit exposure from financial institutions of less than 50 billion won.

Australia’s corporate regulator is threatening more aggressive legal action against private credit funds that fail to protect investors, as the A$200 billion ($131 billion) industry continues to expand, Bloomberg News reported. The Australian Securities & Investment Commission’s deputy chair, Sarah Court, will announce plans to step up enforcement against poor private credit practices as part of its priorities for 2026, according to a press release Thursday. ASIC also said it will target misleading pricing practices by banks, insurance firms and pension fund trustees.

Manipal Education and Medical Group India (MEMG) submitted an expression of interest (EoI) to participate in corporate insolvency resolution process (CIRP) of Think & Learn, the parent company of Byju’s, the Times of India reported. In a statement on Thursday, MEMG India said it sought inclusion in list of prospective resolution applicants and requested access to company’s financial and operational data. This marks the group’s second EoI submission, following an extension of filing deadline to Nov 13.