UK pre-pack reforms : pause for thought in Australia?

On 31 March 2011 the UK Government announced new measures to regulate the use of pre-packaged sales in administration. The legislation is not expected until later in 2011, but the announcement heralds a shift in regulatory attitudes towards pre-packs in the UK which should give all local pre-pack advocates pause for thought when considering the merits of embracing the procedure in Australia. In the Jan-March 2011 edition of the Australian Insolvency Journal, an interesting article by Nicholas Crouch and Shabnam Amirbeaggi extolled the virtues of pre-packs and called for “legislative reform to embrace pre-packs” in Australia. By way of reply (and in a spirit of constructive debate) this article respectfully contends that while pre-packs certainly have their place in preserving business value in certain circumstances, Australia should be careful not to sleepwalk into adopting a procedure which legitimises phoenixing at the expense of creditor confidence and participation in our insolvency regime.

Proposed feasibility oversight for pre-pack administration in England and Wales: window dressing or effective reform?

The 2014 Graham proposals aimed at reducing recidivism are unlikely to achieve the desired goals. It is argued that due consideration must be had for the future of the rescued entity. Further, both the viability review and the proposed capital structure of the rescued entity must be carefully assessed.

A comparative analysis of Anglo-Australian pre-packs : can the means be made to justify the ends?

Pre-packaged administrations have been prevalent in the UK for years. However, Australia's voluntary administration regime has been more restrictive of the practice. This article analyses the evolution of UK pre-packs, why they are not prevalent in Australia and the challenges for UK and Australian lawmakers in striking the right balance with pre-packs in their respective administration regimes. The article proposes a mechanism that might make ‘connected-party’ pre-pack business sales work more fairly for stakeholders — that is, by obligating a connected-party purchaser to make a future-income contribution in favour of the insolvent company whose business has been ‘rescued’ by a pre-packaged sale in administration.

Australian DOCAs versus UK pre-packs and CVAs : sifting through the ashes of comparative dividend returns

This article is something of a brief extension of recent research into deeds of company arrangement (DOCAs) under Pt 5.3A of the Corporations Act 2001 (Cth), conducted with the support of the Australian Restructuring Insolvency & Turnaround Association’s (ARITA’s) Terry Taylor Scholarship (TTS). This article presents some of the findings of that research (namely, the dividend outcomes delivered by sampled Australian DOCAs) in a manner consistent with reports which have recently emerged from similar research conducted in the UK. In so doing, a basic comparison can be made of the performance of Australian DOCAs against analogous UK procedures.

Evaluación agronómica de nueve híbridos de cebolla (Allium cepa (L.) Cif) en el valle de Sébaco, Matagalpa

Un estudio de nueve híbridos comerciales de cebolla ( Allium cepa L.), y un testigo comercial, se realizó en el Centro Experimental del Valle de Sébaco del INTA, en San Isidro con el objetivo de evaluar el comportamiento agronómico , rendimiento de bulbo, así como por categoría de los mismos. El diseño experimental fue un BCA con cuatro repeticiones. Los datos obtenidos se analizaron con ANDEVA y prueba de rangos múltiples de Tuckey (p =0.05). Número de h ojas en 9 híbridos fueron significativos: Arad, Neptune, Martin, Noam. Amazone y Appolo = 6 Hojas respectivamente, y Russel, Equanex y Galil con = 5 hojas respectivamente . Altura de plantas en híbridos fueron significativos: Noam, Equane x, Martin y Arad = 60 cm respectivamente ; Neptune, Amazon, Appolo y Russel entre 55 cm - 60 cm , y Galil = 55 cm respectivamente . Mancha Púrpura: no hubo diferencias significativa s . Mayores rendimientos híbridos bulbos amarillo Amazon y Ap polo, con promedi os > 60 y 38 Tm ha - 1 de bulbos comerciales respectivamente. Mayor adaptación: Amazon (60.8 Tm ha - 1 ). Equanex, Appolo y Martin tuvieron rendimientos supe riores a las 39.5, 38.4, 36.6 Tm ha - 1 respectivamente . Arad, Galil, y Russel tuvieron rendimiento menores a los 29.0, 24.9, y 22.5 T m ha - 1 respectivamente . Noam y Neptune fueron los híbridos que no se adaptaron a las condiciones del CEVAS – INTA. Categorías de bulbo: Pre - pack fue superior co n 58.6 Tm ha - 1 a Large medium 26.1 Tm ha - 1 .

English unlimited. B1, pre-intermediate : teacher's pack with DVD-ROM.

Curso de idiomas que se adapta a las necesidades específicas de los hablantes de español. Estas necesidades surgen a menudo debido a la interferencia con la lengua materna y se refieren a errores de gramática, vocabulario y pronunciación en el aprendizaje y el uso del inglés. Centrado en los objetivos de la vida real, prepara a los alumnos a usar el inglés con confianza para la comunicación fuera del aula. Este pack del profesor con DVD-ROM cuenta con ideas y actividades además de un amplio programa de pruebas y evaluación.

English unlimited. B1, pre-intermediate : self-study pack with DVD-ROM & audio CD.

Curso de idiomas que se adapta a las necesidades específicas de los hablantes de español. Estas necesidades surgen a menudo debido a la interferencia con la lengua materna y se refieren a errores de gramática, vocabulario y pronunciación en el aprendizaje y el uso del inglés. Centrado en los objetivos de la vida real, prepara los alumnos a usar el inglés con confianza para la comunicación fuera del aula proporcionándoles las habilidades, estrategias y seguridad que necesitan.

Association of smoking and nicotine dependence with pre-diabetes in young and healthy adults.

INTRODUCTION: Several studies have shown an increased risk of type 2 diabetes among smokers. Therefore, the aim of this analysis was to assess the relationship between smoking, cumulative smoking exposure and nicotine dependence with pre-diabetes. METHODS: We performed a cross-sectional analysis of healthy adults aged 25-41 in the Principality of Liechtenstein. Individuals with known diabetes, Body Mass Index (BMI) >35 kg/m² and prevalent cardiovascular disease were excluded. Smoking behaviour was assessed by self-report. Pre-diabetes was defined as glycosylated haemoglobin between 5.7% and 6.4%. Multivariable logistic regression models were done. RESULTS: Of the 2142 participants (median age 37 years), 499 (23.3%) had pre-diabetes. There were 1,168 (55%) never smokers, 503 (23%) past smokers and 471 (22%) current smokers, with a prevalence of pre-diabetes of 21.2%, 20.9% and 31.2%, respectively (p <0.0001). In multivariable regression models, current smokers had an odds ratio (OR) of pre-diabetes of 1.82 (95% confidential interval (CI) 1.39; 2.38, p <0.0001). Individuals with a smoking exposure of <5, 5-10 and >10 pack-years had an OR (95% CI) for pre-diabetes of 1.34 (0.90; 2.00), 1.80 (1.07; 3.01) and 2.51 (1.80; 3.59) (p linear trend <0.0001) compared with never smokers. A Fagerström score of 2, 3-5 and >5 among current smokers was associated with an OR (95% CI) for pre-diabetes of 1.27 (0.89; 1.82), 2.15 (1.48; 3.13) and 3.35 (1.73; 6.48) (p linear trend <0.0001). DISCUSSION: Smoking is strongly associated with pre-diabetes in young adults with a low burden of smoking exposure. Nicotine dependence could be a potential mechanism of this relationship.